Quantcast

Prairie State Wire

Wednesday, July 3, 2024

Illinois sees slight rise in unemployment rate amid steady job growth

Webp 5uxtv16jsvla9vz0ih7fldf01aza

Omer Osman Secretary of Transportation | Official website

Omer Osman Secretary of Transportation | Official website

The Illinois Department of Employment Security (IDES) announced today that the state's unemployment rate increased by 0.1 percentage point to 4.9 percent in May, while nonfarm payrolls rose by 12,700. This data is based on preliminary information provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The revised unemployment rate for April remained at 4.8 percent, unchanged from the preliminary figure. The monthly change in payrolls for April was also revised from an initial report of a 7,300 job increase to a more modest gain of 1,900 jobs.

In May, several industry sectors experienced notable job gains. Professional and Business Services added 7,100 jobs, Government increased by 3,300 positions, and Financial Activities saw a rise of 2,400 jobs. Conversely, some sectors faced declines: Manufacturing lost 2,300 jobs, Leisure and Hospitality decreased by 1,200 positions, and both Construction and Mining each saw a reduction of 100 jobs.

"Steady, consistent job growth continues to benefit the Illinois labor market," said Deputy Governor Andy Manar. "IDES remains committed to assisting jobseekers and employers with the resources they need to participate in the expanding economy."

DCEO Director Kristin Richards echoed this sentiment: "Illinois continues to make positive strides with steady job growth across multiple key industry sectors."

The state’s unemployment rate was higher than the national average for May by 0.9 percentage points; the national rate stood at 4.0 percent after a similar increase of 0.1 percentage point from the previous month. Compared to a year ago when it was at 4.2 percent, Illinois' unemployment rate has risen by 0.7 percentage points.

Over the past year, total nonfarm payroll jobs in Illinois have grown by 43,900 positions. The largest increases were seen in Private Education and Health Services (+29,200), Government (+28,600), and Leisure and Hospitality (+13,900). However, there were significant decreases in Professional and Business Services (-24,800), Trade Transportation and Utilities (-6,600), and Financial Activities (-4,500). Overall nonfarm payrolls increased by 0.7 percent over-the-year in Illinois compared to a national increase of 1.8 percent.

The number of unemployed workers reached 317,400 in May—up by 1.3 percent from April—and marked a substantial rise of 17.8 percent compared to the same month last year. The labor force grew slightly by 0.2 percent over-the-month and saw an annual increase of 1.4 percent.

IDES connects jobseekers with employers through various initiatives including job fairs and hiring events conducted alongside statewide workforce partners as well as through Illinois JobLink (IJL), the state's largest job search engine which recently listed over 87,000 available positions against approximately 57,000 posted resumes.

For further details on seasonally adjusted unemployment rates or major industry-specific nonfarm jobs data for Illinois in May:

- Seasonally Adjusted Unemployment Rates - See PDF

- Illinois Seasonally Adjusted Nonfarm Jobs – by Major Industry - See PDF

About IDES:

The Illinois Department of Employment Security provides essential employment services such as Job Fairs and WorkShare IL; analyzes labor market information; administers Unemployment Insurance Programs; and maintains IllinoisJobLink.com for both jobseekers and employers.

For more information on IDES services or recent news updates visit IDES.Illinois.gov.

###

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS