Aug 1, 2024 - News
Chart: Unemployment higher in Chicago than U.S.
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For the sixth straight month in 2024, Chicago's unemployment rate is higher than the national rate.
By the numbers: Chicago's June unemployment rate was 5%, compared with 4.1% nationwide.
- June had the highest rate of joblessness in Chicago since October 2021.
- The first half of 2021, coming out of the pandemic, unemployment hovered around 6%.
The big picture: The national unemployment rate is above 4% for the first time since 2021 as it takes workers longer to find jobs. That bears watching for signs of economic weakness. For now, though, policymakers still see it as a solid labor market.
Reality check: The rate is going up but is still at an historic low.