The unemployment rate is inching up in Illinois. It moved from 10.0 percent in September to 10.1 in October, the Illinois Department of Employment Security announced Friday, even though the state gained 30,000 jobs over that month. How does that happen?
Click here for summary
“A simultaneous increase in the number of jobs and the unemployment rate might suggest that more residents feel optimistic about finding work, and as that optimism grows, they tend to start looking for work, and then they re-appear in the unemployment rate,” says Greg Rivara of the Department of Employment Security. Illinois has added 60,500 jobs over the last 12 months, while unemployment has gone up a half percent. The state still has 668,800 unemployed, a number that grew by 5,700 from September to October.