While the jobs numbers are often the subject of political spin, economists and Wall Street investors — with millions of dollars at stake — have always accepted U.S. government economic data as free from political manipulation.

While the current national average unemployment rate stands at 4.1%, the rate for Black women hovers nearly two percentage points higher. It’s also nearly three percentage points higher than that of White women.

Employment levels in Chicago and beyond have rebounded since the COVID-19 pandemic, but a new report has found teens and young adults across the city, particularly those of color, are still struggling to find consistent work.

Included in that sum was $6 million paid to 481 dead people and $40.5 million in unemployment checks written to incarcerated individuals. And, the audit warned, those numbers could be a significant undercount.

Mayor Brandon Johnson has instructed the city’s budget office to find ways to fund youth unemployment and enrichment programs — and according to a new study by UIC’s Great Cities Institute, those jobs are critically needed.

The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system.

Applications for unemployment benefits are seen as a barometer for layoffs in the U.S.

Friday’s government report showed that hiring fell from 315,000 in August to the weakest monthly gain since April 2021. The unemployment rate fell from 3.7% to 3.5%, matching a half-century low.

When COVID-19 shutdowns left a record number of people suddenly out of work, Illinois saw record applications for unemployment benefits. That increase drained the state fund that pays out those benefits, the Illinois Unemployment Insurance Trust Fund.

Illinois has one of the highest unemployment rates in the nation. Federal pandemic unemployment benefits ended on Labor Day, cutting off weekly payments to more than 300,000 people in the state. 

The August job growth the government reported Friday fell far short of the sizable gains of roughly 1 million in each of the previous two months. The hiring jumps in June and July had followed widespread vaccinations that allowed the economy to fully reopen from pandemic restrictions. 

Criminal backgrounds, homelessness and lack of education and opportunity are all factors in preventing black youth between the ages of 16 and 24 from finding employment, according to a report released by the University of Illinois at Chicago’s Great Cities Institute.

The Chicago Teachers Union is calling on Mayor Rahm Emanuel and Gov. Bruce Rauner to prevent as many as 5,000 teachers from being laid off later this year. 

As the economy and employment rates improve, young people may be getting left behind. We’ll learn about a new report on the jobless rate among teens in Chicago.

New numbers touted by the governor’s office show that the Illinois unemployment rate has fallen more than any other state in the last year. But is it all good economic news? Paris Schutz has the story.

Illinois officials are touting one of the largest drops in unemployment in Illinois history. But is the picture really that rosy? Paris Schutz goes behind the numbers.