Chicago unemployment rate declining faster than other big cities, report says

July 18, 2012 (CHICAGO)

The study done by University of Chicago economist Austan Goolsbee compared employments levels from May 2011 to May 2012. Last year's 11.5 percent unemployment rate fell to 9.8.

While Chicago still has the third-highest unemployment rate among the 10 largest cities, the city showed the strongest rate of recovery.

Goolsbee, a former Obama administration member, found a majority of the jobs added in the city were in the private sector.

The study also found unemployment rate remains higher in the city than the suburbs, which stands just under 8 percent.

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