Statewide Unemployment Drops to 11.3%, Payrolls Increase in July

The July payroll jobs estimate and unemployment rate reflects activity for the week including the 12th. The BLS has published FAQs for the July payroll jobs and the unemployment rate.The state’s unemployment rate was +1.1 percentage points higher than the national unemployment rate reported for July, which was 10.2 percent, down -0.9 percentage points from the previous month. The Illinois unemployment rate was up +7.4 percentage points from a year ago when it was 3.9 percent. In July, the three industry sectors with the largest over-the-month gains in employment were: Leisure and Hospitality (+65,300), Education and Health Services (+14,100) and Professional and Business Services (+8,400). The industry sectors with the largest payroll declines were: Manufacturing (-4,600), Construction (-3,300) and Information (-1,200). Compared to a year ago, nonfarm payroll employment decreased by -508,000 jobs, with losses across all major industries. The industry groups with the largest jobs decreases were: Leisure and Hospitality (-164,000), Professional and Business Services (-81,300) and Trade, Transportation, and Utilities (-62,900). Illinois nonfarm payrolls were down -8.3 percent over-the-year as compared to the nation’s -7.5 percent over-the-year decline in July. The number of unemployed workers fell sharply from the prior month, a -25.2 percent decrease to 705,600 but was up +179.8 percent over the same month for the prior year. The labor force was down -3.9 percent over-the-month and -3.2 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 83,747 posted resumes with 71,998 available jobs.

 

 

 

 

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