QC Unemployment Falls Again
March 13, 2014
Unemployment in the Quad Cities fell in January - not by much - but it still went down. Figures from the Illinois Department of Employment Security show the rate fell from 8.2 per cent a year ago, to 8 per cent in January.
Labor market analyst, Tom Austin, says our area lost jobs in government and manufacturing.
"But we also saw some increases when we look at professional and business services, which is a lot of our employment agencies, and leisure and hospitality. It's an industry that has a strong presence there in the Quad Cities."
At 8 per cent, the Quad Cities January unemployment rate was the second lowest in Illinois. It's been the lowest or second lowest among the major metro areas for some time, and Austin credits "diversification."
"When we look at January versus January, we did see a mix of declines and increases. It shows a balance in the employment sector there. While one industry may experience declines, other industries are seeing some increases."
The lowest unemployment rate in Illinois in January was Bloomington and Normal at 7.7 per cent, while the highest was 12.9 per cent, in both Rockford and Decatur.