State's jobless rate reaches 11 percent

BusinessRockford.com Staff Reports

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The Illinois seasonally adjusted unemployment rate for October was 11 percent, up 0.5 percentage points from the previous month and at its highest level since August 1983, according to figures released today by the Illinois Department of Employment Security.

Job losses continued in Illinois, but at a much slower pace than previous months. Nonfarm payroll employment recorded 3,200 fewer jobs in October, the 21st consecutive monthly loss. Total unemployment in Illinois reached 5,635,600 in October, its lowest jobs level since September 1995.

Job losses were reported in several industry sectors, including 1,400 jobs lost in the trade and transportation sector and 800 jobs in manufacturing. However, the losses were at lower rates than in previous months.

October unemployment in the Rock River Valley is expected to be released Wednesday.

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