The government announced Friday that the U.S. unemployment rate hit a four-year low, now sitting at 7.7 percent. That’s down from 7.9 percent in January.
Sounds like good news, right? While employers did add about 260,000 jobs in February, the lower rate is also due in part to another 130,000 people leaving the job market entirely, the government reported.
Meanwhile, in Illinois the unemployment rate jumped to 9 percent in January from its previous 8.7 percent in December, according to a report in Crain’s Chicago Business.
Some economists report that the country, if not Illinois, is on the road to economic recovery, but others say tough times are far from behind us.