November Witnesses Rise in Illinois Payroll Jobs and Unemployment Rate
The Illinois Department of Employment Security (IDES) announced an increase in the unemployment rate by +0.1 percentage point to 4.7 percent. Additionally, nonfarm payrolls grew +6,800 in November. The October revised unemployment rate remained the same with a slight adjustment in payrolls from the preliminary report.
In November, major job gains were observed in Manufacturing, Educational and Health Services, and Other Services sectors. However, the Professional and Business Services sector, and the Information sector were observed to have a decline in payroll jobs. Deputy Governor Andy Manar expressed confidence that the positive economic growth and a stable labor market will continue into the new year.
The Illinois state’s unemployment rate was higher than the national unemployment rate by +1.0 percentage point in November. Nationwide, the unemployment rate dropped -0.2 percentage points from the previous month.
In comparison to previous year data, nonfarm payroll jobs rose by +54,200 jobs with gains recorded across most major industries. A decline in payroll jobs was noted in Professional and Business Services, Information, and Manufacturing sectors.
The total count of unemployed workers stood at 306,200, showing an increase by +3.2 percent from the prior month and an annual increase of +2.4%. The labor force showed a minor rise of +0.2 percent over-the-month while remaining the same over-the-year. Unemployment rate defines those individuals who are jobless and actively seeking work.
IDES offers a range of vital employment services to job-seekers and employers in Illinois, including job fairs, job search engine resources like IllinoisJobLink.com, and unemployment insurance programs.