Statewide Payroll Jobs Up Significantly for Second Consecutive Month, Unemployment Rate Down in July

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate fell -0.1 percentage point to 7.1 percent, while nonfarm payrolls increased +35,400 in July, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The June monthly change in payrolls was revised from the preliminary report, from +12,500 to +26,100 jobs. The June unemployment rate was unchanged from the preliminary report, remaining at 7.2 percent. 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. In July, the three industry sectors with the largest over-the-month gains in employment were: Leisure and Hospitality (+14,200), Educational and Health Services (+7,100), and Professional and Business Services (+4,200). The industry sectors that reported monthly payroll declines were: Financial Activities (-1,700) and Government (-300). Compared to a year ago, nonfarm payroll employment increased by +231,100 jobs, with gains across most major industries. The industry groups with the largest jobs increases were: Leisure and Hospitality (+71,500), Professional and Business Services (+52,200), and Trade, Transportation and Utilities (+33,300).  The only industry group that reported  jobs losses was Financial Activities (-3,800). In July, total nonfarm payrolls were up +4.2 percent over-the-year in Illinois and +5.2 percent the nation. The number of unemployed workers was down from the prior month, a -1.3 percent decrease to 437,700, and was down -40.6 percent over the same month for the prior year. The labor force was up +0.4 percent over-the-month and up +1.0 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 41,102 posted resumes with 134,900 available jobs.

 

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