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Decline in the Unemployment Rate in Illinois

Posted on in Bankruptcy

The main reasons why people seek bankruptcy are either from medical bills, divorce or unemployment. Obama has set up a plan to try and eliminate expensive medical bills for those without insurance. Divorce will continue to fluctuate with no discernible end. The last cause of bankruptcy, unemployment, is much easier to evaluate.

Information from the Illinois Department of Employment Security is that the unemployment rate from October of this year is lower than October of 2011. In their press release on Wednesday, November 21st, was also that the unemployment rates in October were the lowest they have been since 2008. Employment Security director Jay Rowell noted that the unemployment figures of 8.8% is a good sign that the economy is recovering.

The most growth was seen in the metropolitan areas of Illinois. Leading the way was Rockford, which dropped from 12.6% last year to 10.8%. Kankakee-Bradley area's employment rate went from 11.7% to 10.2%. The metro areas of Chicago-Joliet-Naperville fell from 9.8% to 8.4%. October saw Illinois add 4,800 jobs, the majority in the hospitality, education and health services sectors of the economy.

While the economy has improved for some people in Illinois, there are many others who are still waiting for employment opportunities. It is not your fault because the economy has not bounced back to the state it was a couple of years ago. If you have fallen behind on bills or your mortgage, contact a professional who can help. Make sure to reach out to a consummate bankruptcy attorney in Naperville today before your situation becomes uncontrollable.

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