Tuesday Nov 22, 2011 the Bureau of Labor Statistics (BLS) released their October 2011 Regional and State Employment and Unemployment report (the Oct statistics are preliminary). In reading the report, a generally positive trend across the country of increased employment was found.
However, the report is mixed with increased job creation and increased unemployment rates based on the U-3 definition of unemployment (seeking a job in the last four weeks).
From September to October the nonfarm payroll employment increased in 39 states and the District of Columbia. Employment decreased in 11 states.
IL led the nation in October with an increase of 30,000 new jobs from September followed by CA with 25,700 new jobs and VA with 14,000 new jobs.
The largest states for month-over moth decreases of nonfarm payroll employment included WI with -9,700, NY -8,300 and MN -6,100.
From a year earlier, nonfarm payroll employment increased in 45 states and the District of Columbia. Employment decreased in 5 states. CA led the direction with 239,100 new jobs created over the past year followed by TX with 231,600 and FL with 93,900 new jobs created. GA had the largest decrease of employment with 33,300 jobs lost over the past year.
However, when examining the October state unemployment rate, the picture is a little different. IL increased from 10% to 10.1%. August reported 9.9%. The IL October 2010 unemployment rate was 9.6%.
The Chicago-Joliet-Naperville region of IL experienced an unemployment increase from 10.5% in September to 10.6% in October. Aug reported a 10.4% unemployment rate. The region reported unemployment at 9.6% in October 2010. The IL and local region unemployment rate is trending higher.
It should be noted that IL’s labor force has expanded in the past year and may have a statistical impact to increase the unemployment rate as job creation has increased by 60,500 new jobs from October 2010 to October 2011.
October 2010, the IL labor force was 5,628,100. Aug 2011 reported 5,659,900, Sept 2011 reported 5,658,600 and October 2011 reported 5,688,600.
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