Economy

Illinois' unemployment rate increased again in July with the loss of thousands of government and hospitality jobs.

The Illinois Department of Employment Security said Thursday that the July unemployment rate hit 8.9 percent. That's up from 8.7 percent in June and was the second straight increase after nine months of steady decreases.

Department Director Jay Rowell says the increase was expected since national unemployment continues to rise. Rowell adds that declines in government employment are likely to continue.

Saying it wants "to protect homeowners from surprises and costly mistakes by their mortgage servicers," the Consumer Financial Protection Bureau today proposed new rules it believes would make the home loan process simpler and give struggling homeowners more of a chance to avoid foreclosures.