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Third Quarter Stability For Peoria Area Economy

Ken Teegardin, seniorliving.org
/
Flickr

There was some stability in the Peoria area economy during the third quarter.

At least that's what figures compiled by Bradley University's Center for Business and Economic Research seem to indicate. Director Bernard Goitein says there were some slight gains made in the over jobs market, including apparent emerging entrepreneurs.

"When you look at the total number of people working, that includes self-employed, so this may include entrepreneurial sorts who are starting their own business and adding to the number of people working as they respond to the business environment and how they're going to cope effectively," said Goitein.

The overall unemployment rate in the third quarter fell to 6.4 percent. That's below the 7 percent figure for the second quarter, but above last year's third quarter figure of 6 percent.

Jobs in hospitality and entertainment went up during July, August and September, which corresponds to an increase in purchases of consumer goods. The healthcare, manufacturing, construction and professional and business job sectors all declined. Goitein says this shows the job market shifting, while overall numbers stay about the same.

  

Willis is a Bloomington, IL, native. During his senior year at Bloomington High School, he finished third in the "Radio Speaking" division of the state speech contest, the only year he competed.
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