Chicago Among Top Midwest Cities With Largest Unemployment Decline
The Chicago Tribune cited the recent BLS report on unemployment in Chicago as, "the most significant gauge of the economy's health ahead of Nov. 4 congressional elections." According to the Bureau of Labor Statistics, non-farm payroll employment increased by 248,000 during the month of September. Unemployment decreased to a six-year low of 5.9 percent.
Although the rates for adult women (5.5 percent), teenagers (20 percent) and African-Americans (11 percent) have shown little change in September, unemployment rates have declined for adult men (5.3 percent), whites (5.1 percent) and Hispanics (6.9 percent).
The Midwest — including Chicago, Joliet, Naperville and parts of Indiana and Wisconsin — has one of the largest unemployment declines with a total of -2.3 points.
The highest salary jumps in Illinois came from the following categories: Trade, Transportation, and Utilities (1.4 percent), Professional and Business Services (2.9 percent increase), Government (0.6 percent), and Education and Health Services (0.1 percent increase).
College students, graduates and new job seekers may want to take notes from the top median jobs within the city. According to PayScale's November statistics, the median income in Chicago ranged from $44K to $74K.
Administrative positions raked in $39K to $53K, managerial positions were an estimated $44K to $59K, financial analysts made $56K, and software engineers earned approximately $74K.
With nationwide job openings in August being the highest since 2001, the employment increase is expected to continue to rise. Former Governor Pat Quinn took the opportunity to address this positive trend in employment by visiting Hydro, Inc. in September, reports IGNN, to discuss the state's ongoing economic recovery. "Hardworking women and men across our state are back on the job and today's numbers are proof that Illinois' comeback continues," said Quinn. "More people are working today than at any time in the past six years and that is thanks in part to companies like Hydro who are staking their future right here in the Land of Lincoln. While we have more work to do, we are getting the job done and Illinois is headed in the right direction."
Shamontiel L. Vaughn is a professional journalist who has work featured in AXS, Yahoo!, Chicago Defender and Chicago Tribune. She's been an Examiner since 2009 and currently writes about 10 categories on Examiner.com.