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Illinois’ July unemployment rate hits 5.2%; payroll jobs increase

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Illinois’ July unemployment rate hits 5.2%; payroll jobs increase

The Illinois unemployment rate was 5.2% in July 2024; above the national average of 4.3%, according to the latest data released Thursday, Aug. 14, by the Illinois Department of Employment Security (IDES).

Illinois’ unemployment rate rose by a 0.2 percentage point to 5.2% in July. That’s 0.9% higher than the national average reported for the month, according to a preliminary report from the Illinois Department of Employment Security (IDES).

At the same time, over-the-year total nonfarm payroll in July increased by 37,300 jobs, IDES announced in its Thursday, Aug. 15, news release. The July report was based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS). 

The monthly unemployment rate and payroll jobs estimate reflect activity for the week including the 12th.

The most recent Illinois jobs report also said that the state’s June 5% unemployment rate was unchanged. But the number of new payroll jobs was revised from the June preliminary report. It went from +10,400 to -4,300 jobs. 

The industry sectors with over-the-month job gains in July included: Government, 11,400; Private Education and Health Services, 3,400; and Other Services, 2,300. 

The industry sectors with monthly payroll job declines in July included: 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 job seekers entering the state’s growing workforce,” said Illinois Deputy Gov. Andy Manar in the jobs release. “IDES continues its role as a critical, key resource in connecting workers and employers to assist with employment needs throughout the state.”

Kristin Richards, director of the state’s Department of Commerce and Economic Opportunity, also said in the release “A strong labor market bolsters economic growth across Illinois. As job growth continues throughout the state, DCEO remains committed to supporting Illinois’ talented, educated workforce, employers and job seekers.”

National jobless rate 4.3%

The national unemployment rate was 4.3% in July. That’s up 0.2 percentage point from the previous month. The Illinois unemployment rate was up 0.8 percentage point from a year ago when it was 4.4%.

Compared to a year ago, total nonfarm payrolls increased by 37,300 jobs nationwide. The industry groups with the largest job increases included: Government, 34,200; Private Education and Health Services, 24,400; and Other Services, 11,200. The industry groups with the largest job decreases nationally included: Professional and Business Services, -27,200; Financial Activities, -6,300; and Information, -4,800. 

In July, total nonfarm payrolls were up 0.6% over-the-year in Illinois and up 1.6% in the nation.

Statewide, the number of unemployed workers was 341,600. That’s up 4.2% from the prior month, and up 19.4% over the same month one year ago. The labor force was up 0.2% over the month and up 1.4% over the year. 

The unemployment rate identifies individuals who are out of work and seeking employment. Anyone who exhausts or is ineligible for benefits is still reflected in the unemployment rate if they actively seek work.

IDES helps connect job seekers to employers who are hiring in a number of ways. They include job fairs and hiring events with statewide workforce partners, and through maintaining Illinois JobLink (IJL). It’s a tool used by job seekers to look for work, and by employers who can post open positions and browse resumes. Recently, IJL showed 59,588 posted resumes with 85,766 jobs available.

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