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Illinois Unemployment Soars to Level Not Seen in Two Decades
Illinois' unemployment rate hit 9.1 percent in March, the highest it has been in 24 years.

That compares to 8.6 percent in February and 6.0 percent in March 2008. The data released on Thursday by the Illinois Department of Employment Security marks the sixth month in a row with an increase in the unemployment rate.


In March, 27,400 more Illinoisans were added to the jobless category. The manufacturing sector was hit particularly hard, losing 14,200 jobs.

The total number of unemployed now stands at 596,000, the most since 1983. The national unemployment rate was 8.5 percent in March.

University of Illinois economist Fred Giertz says there are some encouraging signs in the economy, but not enough to stanch the recession right away. He envisions unemployment reaching 10 percent this year before recovering next year, but unemployment is a lagging indicator - it won't go down until recovery is well under way.

(Illinois Radio Network)
04 16 09 by Newsroom
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