Friday, May 29, 2009

City unemployment jumps to 10.6%; area rate at 25-yr peak

Crain's:
The jobless rate in the metropolitan Chicago rose to 9.9% in April, a level that hasn’t been seen since January 1984.

The seasonally unadjusted April rate, released Friday by the Illinois Department of Employment Security, was 4.5 percentage points higher than last April, when the unemployment rate came in at 5.4%. It was 0.6 percentage points higher than March, a sign that layoffs were continuing to pummel the Chicago-Naperville-Joliet statistical area.

IDES estimated that there were 171,300 fewer people employed in the Chicago-Naperville-Joliet metro area in April, compared with the year-earlier month.

The unemployment rate for just the city of Chicago was 10.6%, up from 6% last April, according to IDES figures.

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