Monday, August 1, 2011

Biz Barometer

According to the Bureau of Labor Statistics, the number of unemployed persons and the unemployment rate (9.2 percent) were essentially unchanged in the United States during the month of June.  Since March, the number of unemployed persons has increased by 545,000, and the unemployment rate has risen by 0.4 percentage points in the United States.

Locally, Pekin’s unemployment rate dropped to 7.8% in May according to the Illinois Department of Employment Security.  That is the down from 9.0% in April and the lowest rate in Pekin since December of 2008.

Since May of 2010, the number of persons employed in Pekin has increased by nearly 800, or 5.1%.

The trends have been similar for Tazewell County and the region.  The county’s unemployment rate fell to 6.6% in May, while the Pekin-Peoria MSA rate dropped to 7.2%.  Both of those are the lowest unemployment rates since December of 2008.

The Illinois Department of Revenue reports that sales tax disbursed to Pekin in July was 2.3% less than the July 2010 disbursement.  Sales tax disbursed by the State in July generally represents sales tax collected in May.

However, the trend for the year in Pekin is positive.  For the calendar year through July, disbursements are 3.2% greater than the same time period in 2010.

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