National Unemployment Rate Drops, But Illinois Still Lagging

The government announced last week that the U.S. unemployment rate hit a four-year low, and now sits at 7.7 percent.  That’s down from 7.9 percent in January.

Sounds like good news, right? While employers did add about 260,000 jobs in February, the lower rate is also due in part to another 130,000 people leaving the job market entirely, the government reported.

Meanwhile, in Illinois the unemployment rate jumped to 9 percent in January from its previous 8.7 percent in December, according to a report in Crain’s Chicago Business.  

"An economic recovery naturally includes monthly up-and-down movement in the unemployment rate as individuals suspend and renew their job search," said Illinois Department of Employment Security Director Jay Rowell in a news release. "As cuts from sequestration are implemented during the next few months, we will have a better idea on how federal fiscal policy will impact Illinois."

Some economist report that the country, if not Illinois, is on the road the economic recovery, but others say tough times are far from behind us.

What do you think? Is the economy recovering? And how do you feel about Illinois’ prospects at finding its employment footing?

Have your say in the comments below.

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