Unemployment rates in Chicago return to highest levels

Unemployment rates in Chicago return to highest levels

The news is rarely good on unemployment rates, but usually it's a little encouraging: down 1 percent, a half percent, or heck, maybe it didn't get any worse.

Not this month. The latest data show things are looking downright ugly again, with July's unemployment rate in Chicago at 11.7 percent--climbing back up to heights not seen since early 2010, when unemployment was 12.4 percent in January and 11.9 percent in February, according to data from the U.S. Bureau of Labor Statistics.

Unemployment has been rising since April of this year, rising from 9.5 percent in April to 10.8 percent in May, and then to 11.4 percent in June. Take a look:

Unemployment rates for the Chicago-Naperville-Joliet area rose just 0.1 percent from June of this year and stayed at the same rate as in 2010--10.5 percent. The metro area seems to be relatively stable when it comes to unemployment, but the city is seeing a different trend.

The Chicago Sun-Times reported that the metro area added 31,600 jobs since July 2010, but the average unemployment for the area still exceeded the national rate of 9.3 percent and state's 10 percent rate.

Photo credit: Rachel Hinman

© Community Renewal Society 2011

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  • It sure looks like Pat Quinn's economic development plan (which seems like allowing businesses to extort tax breaks to keep them in Illinois, while other businesses that don't get the breaks leave) is "really working." The 67% hike in income taxes doesn't seem to be curing the state's fiscal or economic problems, either.

    Then wait what happens if the CME Group relocates to a low tax state, and other large employers downtown do. Bringing United/Continental from Elk Grove to the Sears Tower (and that's what I call it) is not going to make a difference on the metro employment rate.

    Yet, I'll bet that those who look at things through the prism of race and poverty overwhelmingly voted for him. You can now live with the result of those policies.

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