Elgin’s Unemployment Rate Declines Again!

  • November 1, 2017
  • Carol Gieske

Elgin’s Unemployment Rate Declines Again!                       

   The Illinois Department of Employment Security released its latest numbers last week. Elgin’s unemployment rate, not seasonally adjusted, dipped to 4.1% at the end of September, a 1.3% decrease from a year ago. That’s a dramatic drop from the beginning of the year when the unemployment rate was 9.1%. In September, the Labor Force was 55,622 and the number of people employed was 53,316, with unemployed at 2,306, with a 4.1% unempoyemnt rate.

 The continued decline in the size of the Labor Force is a challenge being faced nationally as people either retire, move out of the State of Illinois, or drop out of the workforce by not having the necessary job skills. The lower unemployment rate on the one hand is positive for Elgin residents because they are employed. On the other hand, Elgin employers are having a difficult time filling literally thousands of positions. This becomes a barrier to growth.