Job curve has hit bottom in City!

Posted on April 1st, 2010 in All Articles, Bridgeport, Bronzeville, Chinatown, Lincoln Square/Roscoe/North Center, Lincoln Square/Rosoce Village/North Ctr, Market Conditions, McKinley Park, Pilsen, Short Selling/Buying, South Loop.

It’s not an April fools joke — jobs improved. I think we’ve hit bottom in the job decline… With the exception of maybe oneore bump down in June or July. But it can’t get much worse. Good thing Chicagos economy is diverse or it could be worse – like Rockford 18 percent unemployment ( the worst in the state).

The unemployment rate in the Chicago metropolitan area slipped to 11.3 percent in February from 11.6 percent in January, the Illinois Department of Security said Thursday.

Nationally, the unemployment rate stood at 9.7 percent in February.

January’s rate was the highest for the Chicago metro area in 27 years. So this hoefully was the Bottom.

Now for the bad news:
The bad news might be coming: Illinois employers announced 10,329 job cuts in March- this is several tines more than February. This was largely — due largely to school job cuts, according to a report by Chicago-based Challenger, Gray.