Quad City Unemployment at Lowest Rate Since 2008 - News and Weather For The Quad Cities -

Quad City Unemployment at Lowest Rate Since 2008

Updated:

The Illinois unemployment rate has dropped to it's lowest point since 2008, and the Quad Cities also continues to see a decline.

According to the Illinois Department of Employment Security (IDES) the metropolitan area of Davenport-Moline-Rock Island saw a full percentage point drop over the same time last year.

The November 2012 unemployment rate in the Quad Cities is 6.4 percent, down from 7.4 percent in November, 2011. The unemployment rate for Illinois is 8.2 percent, still higher than the national average of 7.4 percent but below its peak in Jan., 2010 of 12.3 percent.

IDES sees this as a good sign, but points to the looming "fiscal cliff" as a cause for concern.

"The trend of falling unemployment rates across Illinois shows that our economy continues to improve," IDES Director Jay Rowell said. "The largest challenge to local economic growth is the fiscal cliff. Economic progress could slow at every level and we risk another recession if Congress does not work together to craft a solution."

The unemployment rate identifies those who are out of work and looking for work and is not tied to collecting unemployment insurance benefits.
 

Metropolitan Area

Nov.
2012*

Nov.
2011

Bloomington-Normal

6.1%

6.8%

Champaign-Urbana

7.2%

7.8%

Chicago-Joliet-Naperville

8.3%

9.5%

Danville

9.8%

9.9%

Davenport-Moline-Rock Isl.

6.4%

7.4%

Decatur

10.2%

9.8%

Kankakee-Bradley

10.0%

11.1%

Lake-Kenosha, IL-WI

7.8%

8.5%

Peoria

7.7%

8.0%

Rockford

10.5%

11.8%

Springfield

6.8%

7.4%

St. Louis (IL-Section)

8.3%

9.2%

* Data subject to revision.