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Illinois Payroll Jobs Up, Minimum Increase to Unemployment Rate in May

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6 months ago

June 21, 2024

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Illinois Payroll Jobs Up, Minimum Increase to Unemployment Rate in May

THE FOLLOWING IS A STATE OF ILLINOIS RELEASE

SPRINGFIELD – The Illinois Department of Employment Security (IDES) announced today that the unemployment rate increased +0.1 percentage point to 4.9 percent, while nonfarm payrolls increased +12,700 in May, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), and released by IDES. The April revised unemployment rate was 4.8 percent, unchanged from the preliminary April unemployment rate. The April monthly change in payrolls was revised from the preliminary report, from +7,300 to +1,900 jobs. The May unemployment rate and payroll jobs estimate reflect activity for the week including the 12th.

In May, the industry sectors with the largest over-the-month job gains included: Professional and Business Services (+7,100), Government (+3,300), and Financial Activities (+2,400). The industry sectors with monthly payroll job declines included Manufacturing (-2,300), Leisure and Hospitality (-1,200), Construction (-100) and Mining (-100).

“Steady, consistent job growth continues to benefit the Illinois labor market, further evidenced by individuals who are entering the job market and capitalizing on these new and expanded career opportunities,” said Deputy Governor Andy Manar. “IDES remains committed to assisting jobseekers and employers with the resources they need to participate in the expanding economy.”

“Illinois continues to make positive strides with steady job growth across multiple key industry sectors,” said DCEO Director Kristin Richards. “Looking ahead, DCEO continues to provide important resources and programs to support job seekers, workers and employers throughout the state.”

The state’s unemployment rate was +0.9 percentage point higher than the national unemployment rate reported for May. The national unemployment rate was 4.0 percent in May, up +0.1 percentage point from the previous month. The Illinois unemployment rate was up +0.7 percentage point from a year ago when it was 4.2 percent.

Compared to a year ago, total nonfarm payroll jobs increased by +43,900 jobs. The industry groups with the largest jobs increases included: Private Education and Health Services (+29,200), Government (+28,600), and Leisure and Hospitality (+13,900). The industry groups with the largest jobs decreases included: Professional and Business Services (-24,800), Trade, Transportation, and Utilities (-6,600), and Financial Activities (-4,500). In May, total nonfarm payrolls were up +0.7 percent over-the-year in Illinois and up +1.8 percent in the nation.

The number of unemployed workers was 317,400, up +1.3 percent from the prior month, and up +17.8 percent over the same month one year ago. The labor force was up +0.2 percent over-the-month and up +1.4 percent over-the-year. The unemployment rate identifies those individuals who are out of work and seeking employment. An individual who exhausts or is ineligible for benefits is still reflected in the unemployment rate if they actively seek work.

IDES helps connect jobseekers to employers who are hiring in a number of ways, including hosting and co-hosting job fairs and hiring events with statewide workforce partners, and through maintaining Illinois JobLink (IJL), the state’s largest job search engine. IJL is a tool used by jobseekers to look for work, and by employers who can post open and available positions for hire and browse resumes. Recently, IJL showed 57,483 posted resumes with 87,615 jobs available.

Seasonally Adjusted Unemployment Rates

Illinois Seasonally Adjusted Nonfarm Jobs – by Major Industry

Monthly 2019-2023 seasonally adjusted labor force data for Illinois, and all other states, have been revised as required by the U.S. Bureau of Labor Statistics (BLS). The monthly historical revisions to state labor force estimates reflect new national benchmark controls, state working-age population controls, outlier specifications, seasonal factors, as well as updated total nonfarm jobs and unemployment benefits claims inputs. Illinois labor force data were also smoothed to eliminate large monthly changes as a result of volatility in the monthly Current Population Survey (CPS) and national benchmarking. For these reasons, the comments and tables citing unemployment rates in previous news releases/materials may no longer be valid.
Monthly seasonally adjusted unemployment rates for Illinois and the Chicago-Naperville-Arlington Heights Metropolitan Division are available here.
Monthly 2019-2023 seasonally adjusted nonfarm payroll employment data for Illinois have been revised. To control for potential survey error, the estimates are benchmarked annually to universal counts derived primarily from unemployment insurance tax reports.
Not seasonally adjusted jobs data with industry detail are available here. “Other Services” include activities in three broad categories: personal and laundry; repair and maintenance; and religious, grant making, civic and professional organizations. Seasonally adjusted data for subsectors within industries are not available.

About the Department of Employment Security

The Illinois Department of Employment Security (IDES) provides vital employment services to Illinois workers, jobseekers, and employers with resources including Job Fairs, IllinoisJobLink.com, and WorkShare IL, analyzes and disseminates actionable Labor Market Information, and administers the Unemployment Insurance Program. To see the full range of services provided by IDES, and for the latest news concerning the department, visit IDES.Illinois.gov.