Statewide Unemployment Rate Continues to Decline, Payrolls Increase in June

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate fell -0.7 percentage point to 14.6 percent, while nonfarm payrolls added +142,800 jobs in June, a record monthly increase, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The May monthly change in payrolls was revised downward from the preliminary report, from +62,200 to +59,600 jobs. The May unemployment rate was revised upward from the preliminary report, from 15.2 percent to 15.3 percent. The June payroll jobs estimate and unemployment rate reflects activity for the week including the 12th. The BLS has published FAQs for the June payroll jobs and the unemployment rate.The state’s unemployment rate was +3.5 percentage points higher than the national unemployment rate reported for June, which was 11.1 percent, down -2.2 percentage points from the previous month. The Illinois unemployment rate was up +10.6 percentage points from a year ago when it was 4.0 percent. In June, the three industry sectors with the largest over-the-month gains in employment were: Leisure and Hospitality (+58,700), Trade, Transportation and Utilities (+40,800) and Education and Health Services (+24,600). The industry sectors with the largest payroll declines were: Government (-19,000), Financial Activities (-1,700) and Mining (-800). Compared to a year ago, nonfarm payroll employment decreased by -598,300 jobs, with losses across all major industries. The industry groups with the largest jobs decreases were: Leisure and Hospitality (-221,800), Professional and Business Services (-88,100) and Government (-69,000). Illinois nonfarm payrolls were down -9.8 percent over-the-year as compared to the nation’s -8.6 percent over-the-year decline in June. The number of unemployed workers fell from the prior month, a -2.1 percent decrease to 946,400 but was up +266.3 percent over the same month for the prior year. The labor force was up +2.9 percent over-the-month and +0.7 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. In May, Governor Pritzker launched Get Hired Illinois, a new one-stop-shop website to help connect job seekers with hiring employers in real time.  The site features virtual job fairs, no-cost virtual training, and includes Illinois Job Link (IJL), the state’s largest job search engine, which recently showed 125,383 posted resumes with 63,563 available jobs.

 

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