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St. Louis Post-Dispatch

Lee Enterprises

Thursday, June 18, 2009 8:38 PM CDT
Ill. jobless rate hits 10.1 percent

By the ASSOCIATED PRESS

CHICAGO (AP) — Illinois’ unemployment rate hit 10.1 percent in May, a double-digit milestone that hasn’t been seen in 25 years, state officials said Thursday.

The total number of jobless now stands at 671,400, the most since June 1983. Even so, there are signs that the pace of job losses may be slowing: 17,400 jobs were lost in May, mostly in manufacturing, compared to 24,500 in April.

“I guess it’s good news, but I really don’t think you can call it good news until the job losses have stopped,” said Edward Stuart, an economics professor at Northeastern Illinois University. “I don’t think anything should be celebrated or concluded. There’s no guarantee that it couldn’t start increasing again.”

The national unemployment rate was 9.4 percent in May, with 14.5 million unemployed workers.

The current recession likely will fundamentally change the economy, just like the recession of 1982-83 did when many factories closed for good, Stuart said.

“Some towns never did recover or, if they did, it they were very different from when they went into the recession,” he said.

This time, cities that succeed will be those able to attract jobs in industries such as green technology and public transportation, he said. But some previously growing suburban bedroom communities may not be so lucky because housing prices won’t rebound completely and higher energy prices will make it less desirable to live far from work, Stuart said.

That means many unemployed workers will never return to their old jobs and must consider moving or gaining new skills once the recessions eases, he said.

“This (recession) is much more complicated and much more systemic,” than 25 years ago, Stuart said. “That’s why I’m pessimistic about it coming back fast.”

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Jim1969 wrote on Jun 18, 2009 9:14 PM:

" Great!! Now Quinn will probably start pushing for income taxes to go to 5 or 6% since even more people are officially out of work. "

Locke wrote on Jun 19, 2009 2:22 PM:

" Clearly these statistics are distorted by the EIU students. While these are difficult times, we should focus on all the good things that are happening in the area. "

Jim1969 wrote on Jun 19, 2009 10:25 PM:

" Yeah the statistics are very skewed since they do not count people out of work more than a year, count most part time workers who are out of work, or count all the people who are not working and seeking full time employment for the first time. "

JR wrote on Jun 20, 2009 1:03 PM:

" With the way these numbers are tallied, the actual percentage is likely closer to 12% or even 14% -- that's not a good thing.

And this area is incredibly vulnerable to economic recession/unemployment, look at how much of the work force is reliant on service sector jobs; the stablity of that job market hinges upon a healthy, consumer driven economy (and to a great extent, lower taxes with a wider base). None of these are happening right now, nor do they look to be so in the near future. The only thing propping up the economy around here are the colleges, due to admission requirements and tuition costs, as well as price of living in this area keeping enrollment fairly healthy for the foreseeable future -- hopefully. "

Bps wrote on Jun 21, 2009 1:04 PM:

" Although you have to dig into the statistics to know it, unemployment in the United States is now worse than at any time since the end of the Great Depression.
------------------

From the Governments own site:
http://www.bls.gov/news.release/empsit.t12.htm

U-6 Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers

May 2009- 16.4%

From Shadow Statistics:
http://www.shadowstats.com/alternate_data

The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated "discouraged workers" defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.

Jun 5, 2009 - 20+%
-----------------------

Guess all those billions in the stimulus package just arent enough or more likely it was what several posters on this site suggested before the PORKULAS bill was passed- that it was just a lot of spending for liberal programs and wouldnt help the economy at all.

All the proceeding administrations since Johnson have done their part to dig this hole, but the current administrations actions have been pouring gas on a raging fire.

Can you say the Greater Depression? "

NeoCon Academician wrote on Jun 21, 2009 5:22 PM:

" With Obamulist GROUPTHINK, private sector jobs must be banished.

The ultimate goal of Obamulist GROUPTHINK is have ALL WORKERS working for the government. Once all workers work for the government, they will rely on the government for everything...including government sponsored health care.

ALL HAIL BENEVOLENT LEADER OBAMA AND HIS FAITHFUL PARTY MEMBERS IN THE CHICAGO DUMA! "