Statewide Unemployment Rate Unchanged, Payroll Jobs Down in May

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate remained at 7.1 percent, while nonfarm payrolls were down -7,900 in May, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The April monthly change in payrolls was revised from the preliminary report, up slightly from +300 to +1,600 jobs. The April preliminary unemployment rate was unchanged from the preliminary report, remaining at 7.1 percent. The May payroll jobs estimate and unemployment rate reflects activity for the week including the 12th. The BLS has published FAQs for the May payroll jobs and the unemployment rate. In May, the three industry sectors with the largest over-the-month gains in employment were: Leisure and Hospitality (+6,300), Manufacturing (+2,000) and Educational and Health Services (+1,900). The industry sectors that reported the largest monthly payroll declines were: Government (-10,000), Construction (-5,600) and Financial Activities (-1,300).  The state’s unemployment rate was +1.3 percentage points higher than the national unemployment rate reported for May, which was 5.8 percent, down -0.3 percentage point from the previous month. The Illinois unemployment rate was down -8.3 percentage points from a year ago when it was at 15.4 percent. Compared to a year ago, nonfarm payroll employment increased by +390,600 jobs, with gains across most major industries. The industry groups with the largest jobs increases were: Leisure and Hospitality (+137,400), Trade, Transportation and Utilities (+97,000) and Professional and Business Services (+52,500).  The industry groups with jobs losses were: Financial Activities (-1,700) and Mining (-200). Illinois nonfarm payrolls were up +7.3 percent over-the-year as compared to the nation’s +8.9 percent over-the-year growth in May. The number of unemployed workers fell slightly from the prior month, a -0.4 percent decrease to 436,800, and was down   -53.9 percent over the same month for the prior year. The labor force was up +0.2 percent over-the-month and about unchanged (0.0 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 2020, 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 37,834 posted resumes with 123,496 available jobs.

 

Photo Gallery