(Source: The Pantagraph, Bloomington, Ill.)

By The Pantagraph, Bloomington, Ill.
Nov. 4--When it comes to the economy, officials can quote all the statistics they want, but they will be filtered through each individual's personal experience.
That's why Vice President Joe Biden was on target when he said last month -- supposedly quoting his grandfather -- "When the guy in Minooka's out of work, it's an economic slowdown. When your brother-in-law's out of work, it's a recession. When you're out of work, it's a depression."
That's also why as long as the economic recovery remains a so-called "jobless recovery," consumer confidence will be slow to build.
Still, there are good signs.
Manufacturing activity was up in October, its highest level since April 2006, according to the Institute for Supply Management's index.
The gross domestic product improved in the July-September quarter, expanding by 3.5 percent.
The National Association of Realtors said signed contracts to buy previously owned homes increased in September to its best showing since December 2006. Construction spending was also up in September, according to a government report.
Locally, signals are mixed.
The Caterpillar plant in Pontiac has begun recalling laid-off workers -- 26 of 199 full-time and 98 supplemental employees laid off in the past year.
But GE Consumer & Industrial announced last week that it plans to close its Bloomington plant by the end of next year. That puts 96 jobs at risk.
The U.S. Bureau of Labor Statistics reports the Bloomington area unemployment rate was 7.4 percent in September. That's up from 5.2 percent in September 2008 and 3.9 percent in September 2007.
However, The Twin City area was the lowest among metropolitan areas in Illinois. The unemployment rate for the Champaign area was 8.3 percent. Peoria was 11.1 percent and Decatur was 12.4. Hardest hit in Illinois is the Rockford area, at 15.2 percent.
But, as Biden's "grandpa" said, if you are one of the 7.4 percent in Bloomington looking for a job, it doesn't matter to you that things are more than twice as bad in Rockford.
And talk of tax and fee increases in Bloomington, Normal and elsewhere doesn't improve the public mood.
Still, it's much better to be in Bloomington's position than Rockford's.
Signs of improvement nationally are good news locally because they have an impact, especially on the many companies -- such as Mitsubishi Motors North American and Caterpillar -- that have national and even global markets.
The situation calls for people in The Pantagraph area to be cautiously optimistic that positive trends will continue, locally and nationally. The situation also calls for each of us who can to help our neighbors in need, especially with the holiday season upon us.
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