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Prairie State Wire

Thursday, September 19, 2024

Illinois sees rise in payroll jobs but increase in unemployment rate for July

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Omer Osman Secretary of Transportation | LinkedIn

Omer Osman Secretary of Transportation | LinkedIn

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate increased by 0.2 percentage points to 5.2 percent, while nonfarm payrolls rose by 12,900 in July, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The revised unemployment rate for June was 5.0 percent, unchanged from the preliminary figure. However, the June monthly change in payrolls was revised significantly from an initial report of a gain of 10,400 jobs to a loss of 4,300 jobs.

In July, several industry sectors experienced notable job gains: Government (+11,400), Private Education and Health Services (+3,400), and Other Services (+2,300). Conversely, some sectors saw declines in payroll jobs: Manufacturing (-2,500), Leisure and Hospitality (-1,500), and Trade, Transportation, and Utilities (-800).

"Steady job growth continues to drive the Illinois labor market, creating fresh opportunities for new and existing jobseekers entering the state’s growing workforce," said Deputy Governor Andy Manar. "IDES continues its role as a critical resource in connecting workers and employers to assist with employment needs throughout the state."

"As job growth continues throughout the state, DCEO remains committed to supporting Illinois’ talented, educated workforce, employers and job seekers," said DCEO Director Kristin Richards. "A strong labor market bolsters economic growth across Illinois."

The state's unemployment rate was 0.9 percentage points higher than the national unemployment rate reported for July. Nationally, the unemployment rate stood at 4.3 percent in July, up by 0.2 percentage points from the previous month. Compared to a year ago when it was 4.4 percent, Illinois' unemployment rate increased by 0.8 percentage points.

Over the past year, total nonfarm payroll jobs increased by 37,300 jobs in Illinois. The largest job increases were seen in Government (+34,200), Private Education and Health Services (+24,400), and Other Services (+11,200). On the other hand, Professional and Business Services (-27,200), Financial Activities (-6,300), and Information (-4,800) experienced significant declines.

The number of unemployed workers rose to 341,600 in July—up by 4.2 percent from the prior month—and increased by 19.4 percent compared to one year ago. The labor force grew modestly over-the-month by 0.2 percent and over-the-year by 1.4 percent.

IDES plays a pivotal role in connecting jobseekers with employers through various means such as hosting job fairs and hiring events with statewide workforce partners and maintaining Illinois JobLink (IJL). IJL is a tool used both by jobseekers searching for work and employers posting open positions or browsing resumes; currently showing 58,973 posted resumes with 85,187 available jobs.

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