Jobless rate in McHenry County falls to 7.5 percent
McHenry County’s unemployment rate fell to 7.5 percent in October, down from 8.7 percent a year ago, according to preliminary data released Wednesday by the U.S. Department of Labor and the Illinois Department of Employment Security.
The jobless rate in the city of McHenry was 7.8 percent compared with 9.3 percent in 2011, said IDES spokeman Greg Rivara. Other jobless numbers showed Algonquin at 7.2 percent, down from 8.6 percent a year ago; Crystal Lake, 7.9 percent, down from 9 percent; and Lake in the Hills, 7.3 percent, down from 8.6 percent. Carpentersville’s jobless rate fell to 8.3 percent compared with 10.1 percent a year ago.
The jobless rate improved from 9 percent to 7.8 percent in Kane County.
October local unemployment rates fell in every metro area compared with last year and were at their lowest levels for the month since 2008.The largest declines were in Rockford (down 1.8 points to 10.8 percent), Kankakee-Bradley (down 1.5 points to 10.2 percent), Metro East (down 1.5 points to 8.2 percent) and Chicago-Joliet-Naperville (down 1.4 points to 8.4 percent).
“Falling unemployment rates across our state and the lowest October rates since 2008 show that that our steady economic progress continues,” IDES Director Jay Rowell said. “We now look to Congress to address the fiscal cliff. If not resolved, our future economic progress will be in jeopardy.”
The data, not adjusted for seasonal factors, compare the current month to the same month of the previous year. The October 2012 unadjusted Illinois rate was 8.4 percent and 12.3 percent at its peak in this economic cycle in January 2010.
Nationally, the unemployment rate was 7.5 percent in October and 10.6 percent in January 2010 at its peak. The unemployment rate identifies those who are out of work and looking for work and is not tied to collecting unemployment insurance benefits.