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That's because more people are looking for work and going on unemployment rolls at a time many employers are showing less confidence in the area economy, a jobs analyst said Thursday.
"The central Illinois economy overall remains in good shape, but employers are watching the problems with the national economy and are concerned about those problems reaching here. That is affecting their hiring decisions," said Tom Austin of the Department of Employment Security.
"So we are experiencing more individuals entering the labor force, some of it seasonal because of being out of school for the summer, but fewer employers are hiring," he said.
It's a problem that has been occurring this summer in particular.
The five-county Peoria Metropolitian Service Area -- Peoria, Tazewell, Woodford, Marshall and Stark counties -- had an unemployment rate of 6 percent in July. While that was up only slightly from June, it was more than a full percentage point above the 4.8 percent rate recorded in July 2007.
Yet overall, the Peoria area has seen job growth over the year. There were 189,600 non-farm jobs in the Peoria MSA last month, compared with 187,900 in July 2007. Only the Lake County area had more job growth in Illinois.
Growth was seen not only in manufacturing, thanks largely to continuing demand for Caterpillar Inc. products, but also in education-health services and professional-business services sector.
Employment fell in wholesale trade, information and financial sectors, the state said.
In the Peoria MSA, Peoria County's unemployment rate went from 5 percent in July 2007 to 6.4 percent last month. It was 6.2 percent in June.
Tazewell County's rate went from 4.7 percent in July 2007 to 5.9 percent last month. It was 5.5 percent in June.
Woodford County had the lowest unemployment rate in the state in July at 4.6 percent. It was 4.6 percent in June, as well, but it was 3.7 percent in July 2007.
Marshall County's jobless rate went from 4.4 percent in July 2007 to 5.8 percent last month. It was 5.5 percent in June.
Stark County's rate was 6.6 percent last month, up from 5.2 percent in July 2007 and from 6.4 percent in June.
Rates were steady throughout west-central Illinois from June to July, even improving in a few counties, the state said. But they were considerably higher in all counties from a year ago.
To see more of the Journal Star, or to subscribe to the newspaper, go to http://www.PJStar.com. Copyright (c) 2008, Journal Star, Peoria, Ill. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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