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Prairie State Wire

Friday, September 20, 2024

Illinois sees slight rise in unemployment despite job gains

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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 nonfarm payrolls increased by 800 jobs, while the unemployment rate rose by 0.1 percentage point to 5.3 percent in August. This data is based on preliminary figures provided by the U.S. Bureau of Labor Statistics (BLS). The July payroll change was revised from an initial report of 12,900 jobs to 10,300 jobs, with the unemployment rate remaining at 5.2 percent.

In August, significant job gains were observed in Trade, Transportation, and Utilities (+2,300), Construction (+2,200), and Financial Activities (+1,600). Conversely, Leisure and Hospitality (-2,900), Professional and Business Services (-1,600), and Other Services (-1,500) experienced notable declines.

Deputy Governor Andy Manar commented on the labor market's growth: “The strength and stability of the Illinois labor market continues to grow with statewide payroll expansion and the diverse workforce.” He emphasized IDES's role as a key resource for jobseekers and employers.

DCEO Director Kristin Richards added: "As payroll jobs steadily increase, DCEO is committed to our continuous efforts to invest in and support the state's workforce. Building a strong labor market will not only bolster the state's economic growth but will ensure Illinois continues to be the best place to live, work and do business."

The state’s unemployment rate was 1.1 percentage points higher than the national rate of 4.2 percent for August. The national unemployment rate decreased by 0.1 percentage point from July. Over the past year, Illinois' unemployment rate increased by 0.7 percentage point from 4.6 percent.

Compared to a year ago, total nonfarm payroll jobs grew by 36,300 jobs in Illinois. Government (+35,600), Private Education and Health Services (+26,100), and Other Services (+11,200) saw substantial increases in employment. In contrast, Professional and Business Services (-27,800), Financial Activities (-5,400), and Information (-4,400) sectors experienced job losses.

In August alone, total nonfarm payrolls increased by 0.6 percent over-the-year in Illinois compared to a national increase of 1.5 percent.

The number of unemployed workers stood at 343,100 in August—up by 0.4 percent from July—and marked a rise of 15.7 percent compared to one year ago. The labor force remained nearly unchanged month-over-month but saw an increase of 1.2 percent over-the-year.

IDES facilitates connections between jobseekers and employers through various initiatives such as job fairs and hiring events with statewide partners as well as maintaining Illinois JobLink (IJL). IJL currently lists over 60 thousand resumes with nearly 88 thousand available positions.

For further details on seasonally adjusted unemployment rates or nonfarm jobs by major industry sectors in Illinois for August see IDES's official publications available online.

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