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Prairie State Wire

Thursday, November 21, 2024

Illinois sees stable unemployment but gains over twelve thousand new jobs

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Jeffrey D. Mays | Director of Employment Security | IDES website

Jeffrey D. Mays | Director of Employment Security | IDES website

The Illinois Department of Employment Security (IDES) reported that the state's unemployment rate remained steady at 4.8% in March, while nonfarm payrolls saw an increase of 12,700 jobs. This data is based on preliminary figures from the U.S. Bureau of Labor Statistics and was released by IDES. The revised unemployment rate for February also stood at 4.8%, with payroll changes adjusted from an initial report of 23,100 to 26,700 jobs.

In March, notable job gains were observed in sectors such as Government (+3,300), Leisure and Hospitality (+2,900), and Trade, Transportation and Utilities (+2,400). Conversely, Financial Activities (-1,100) and Mining (-100) experienced declines.

Deputy Governor Andy Manar stated that "growth in payroll jobs throughout industry sectors continues to fuel the strength of the Illinois labor market and statewide economy." He emphasized the commitment of IDES to connect jobseekers with employers.

DCEO Director Kristin Richards remarked on the continued investment by Illinois companies in local communities and workforce: "Looking ahead, DCEO will continue to support Illinois job creators and ensure jobseekers have the resources and tools they need to be successful."

The state's unemployment rate was one percentage point higher than the national average of 3.8% for March. This national figure marked a slight decrease from February's rate by 0.1 percentage points. Compared to last year’s figures for March when it was at 4.2%, Illinois’ unemployment rate increased by 0.6 percentage points.

Over the past year, nonfarm payroll jobs rose by 26,100 positions across various industries in Illinois. Government (+30,100), Private Education and Health Services (+24,000), and Leisure and Hospitality (+12,900) showed significant growth while Professional and Business Services (-37,600), Information (-6,500), and Financial Activities (-4,700) faced reductions.

The number of unemployed individuals increased by 1.1% from February to reach a total of 312,200 workers in March—up by 15.5% compared to last year’s numbers for this month. The labor force grew slightly over both monthly (0.1%) and yearly (1.2%) periods.

IDES plays a crucial role in linking jobseekers with employment opportunities through various initiatives like job fairs alongside statewide partners or utilizing platforms such as Illinois JobLink (IJL). Currently listed are over 59 thousand resumes against more than ninety-two thousand available positions on IJL—a primary tool used for matching potential employees with hiring employers across different sectors within state boundaries.

For additional details about services offered by IDES including updates related directly towards their operations can be accessed via their official website at IDES.Illinois.gov

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