New jobs created; economists continue to point to Illinois’ lagging job growth. The Illinois Department of Employment Security’s February 2017 unemployment report, showed the Prairie State’s jobless rate dropping from 5.7% to 5.4%. The current number was measured by the widely-followed U-3 ratio; other methods of measuring unemployment and underemployment also count people in other categories, such as involuntary part-time employment. These alternative metrics show much higher jobless numbers in Illinois.
Illinois has not created nearly as many new jobs as have neighboring and other U.S. states. In a pattern of lagging recovery from the severe recession of 2009-10, Illinois has created only 47,000 new nonfarm payroll jobs over the most recently measured twelve-month period – job growth of 0.8%. Poor numbers are concentrated in many Downstate communities and metropolitan areas, with unemployment of 11.1% posted for January 2017 in greater Rockford, 7.7% in the Decatur area and 7.0% in Carbondale. In fact, Illinois has virtually the same number of nonfarm payroll jobs as the number of employment positions that were posted and paid more than 16 years ago, during the previous job peak of September 2000.