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Unemployment Rises in Peoria

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There were all types of mixed news being released just the other day on the employment picture for Peoria. The unemployment rate for the metropolitan area of Peoria actually increased to 9.4 percent during the month of January, which was a huge increase from the 8.2 percent unemployment rate from one month prior, during the month of December. This information was released by the Department of Employment Security for the state of Illinois. However, the unemployment rate was still down from January of the previous year in 2011, when the unemployment rate was at 9.8 percent.

It is believed that such a decline in available jobs and the increase in unemployment for the area were due to a loss of available jobs in different sectors, which included the construction sector and the retail sector. In January, the unemployment rate for the entire city of Peoria was at 10 percent, an increase from the 9 percent during the month of December but still a decrease from the same month a year prior, during January of 2011.

In the United States, less people were applying for unemployment assistance, which was reported by the Labor Department. In fact, there were fewer applicants for unemployment than there has been within the past four years and that is because of the recession. The recession started in 2007 and ended in 2009. While the recession ended nearly three years ago, the economy in the United States has not been the same ever since. The fact that fewer people were applying for unemployment benefits seems to prove that the economy in the United States is starting to pick back up.

Unfortunately, the city of Peoria does not seem to be doing as well as the United States as a whole. And, there were other states in Illinois that did see an increase of unemployment throughout the month of January in 2012. Such cities include Bloomington, Rockford, and Decatur. Information has not been provided about the unemployment rates for the month of February.

An increase of unemployed individuals shows that there has obviously been less growth for the job market because less people are finding work. However, jobs have been created in Peoria and continued to be created in the city and other cities in the state of Illinois. While Peoria city is doing better with less unemployed people from the previous year, people of the city are still worried about what they should expect, especially since the unemployment rates seem to be rising again. It can definitely be a difficult situation for the people of Peoria but many are still hopeful, knowing that the recovery of the economy is still in full effect and will definitely take some time.

Unemployment Rises in Peoria by
Authored by: Harrison Barnes