Prairie State Wire

The Illinois Department of Employment Security (IDES) reported a minor decrease in nonfarm payrolls by 2,400 jobs in October, while the unemployment rate remained steady at 5.3 percent. This data is based on preliminary figures from the U.S. Bureau of Labor Statistics and reflects activity for the week including October 12th.

Revisions to September's figures showed a significant change, with payrolls adjusted from an initial increase of 7,100 to a decrease of 15,800 jobs. The unemployment rate for September was confirmed at 5.3 percent.

In October, several industry sectors experienced job losses: Trade, Transportation, and Utilities lost 1,900 jobs; Other Services decreased by 1,000; Information saw a reduction of 300; and Professional and Business Services also fell by 300 jobs. Conversely, some sectors added jobs: Leisure and Hospitality gained 1,400 positions; Manufacturing increased by 100; and Private Education and Health Services also grew by 100 jobs.

Deputy Governor Andy Manar stated that "Illinois continues to prioritize capitalizing on opportunities to enhance investments in the workforce." He emphasized IDES's commitment to providing resources for both jobseekers and employers. DCEO Director Kristin Richards highlighted the importance of investing in Illinois' economic ecosystem as reflected in the stable payroll numbers.

The state's unemployment rate remains higher than the national average by 1.2 percentage points. The national unemployment rate stood at 4.1 percent in October, unchanged from September.

Year-over-year comparisons show an increase of 40,500 nonfarm payroll jobs in Illinois. Significant gains were noted in Private Education and Health Services (+30,400), Government (+22,300), and Other Services (+9,200). However, there were declines in Professional and Business Services (-18,400), Financial Activities (-8,000), and Information (-1,600).

The number of unemployed workers rose slightly over the month to reach 346,400 individuals—a rise of 0.8 percent from September—and increased by 12.5 percent compared to one year ago.

IDES continues its efforts to connect jobseekers with employers through various initiatives such as job fairs and maintaining Illinois JobLink (IJL), which currently lists over 84,752 available positions against more than 60,382 posted resumes.

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