October unemployment: 8 of 10 Illinois MSA’s unemployment rates rose or experienced no improvement year over year

Eight of Illinois’ 10 Metropolitan Statistical Areas, or MSAs, saw their unemployment rates rise or remain stagnant compared to October 2012, according to today’s combined September-October metropolitan area unemployment report from the U.S. Bureau of Labor Statistics. The Decatur and Danville regions are still suffering the highest unemployment in the state, with 12.3 percent and...

Eight of Illinois’ 10 Metropolitan Statistical Areas, or MSAs, saw their unemployment rates rise or remain stagnant compared to October 2012, according to today’s combined September-October metropolitan area unemployment report from the U.S. Bureau of Labor Statistics.

The Decatur and Danville regions are still suffering the highest unemployment in the state, with 12.3 percent and 11.8 percent unemployment, respectively.

Springfield and Rockford were the only areas to experience a year-over-year decline in unemployment. Both areas dropped 0.2 percentage points, to 7.3 and 10.9 respectively.

The Chicago MSA’s unemployment rate fell over the month, to 8.8 percent from 9 percent. There are still more than 433,000 people who are unemployed in the Chicago area.

Overall, metropolitan unemployment rates are still on average 4 percentage points higher than they were in October 2007, before the Great Recession.

The year-over-year employment situation across central and southern Illinois was also mixed.

Almost all cities saw a minor decrease in unemployment rates (that were not seasonally adjusted). However, the Harrisburg and Mount Vernon areas experienced a year-over-year increase, up 0.9 and 0.5 percentage points respectively.

Like in the state’s metropolitan areas, the unemployment rates in Illinois’ smaller cities – or “micropolitan” areas – are still on average 3 percentage points higher now than they were in October 2007.

Across the state, Illinoisans are still suffering from a lack of employment opportunities.

To restore true prosperity to Illinois, the state must overturn the failed policies it has been following over the past decade and embrace pro-growth and pro-job policies.

Illinois can do that by lowering its corporate income tax rate to encourage business investment, reducing onerous and costly regulations that stifle entrepreneurship, and passing labor reforms to make Illinois a more attractive businesses destination.

Enacting these polices would go a long way toward restoring jobs to Illinois’ cities and towns.