Record High Payroll Jobs, Unemployment Rate Down in July
The latest IDES report points to broad momentum in education, health services and business sectors, even as leisure, hospitality and finance posted monthly losses.
SPRINGFIELD – The Illinois Department of Employment Security (IDES) announced today that the unemployment rate was 4.9 percent in July, down -0.2 percentage point from June, and up +0.6 percentage point from the same month, one year ago, based on data provided by the U.S. Bureau of Labor Statistics (BLS). The revised June unemployment rate was 5.1 percent.
Get The Latest News!
Don't miss our top stories and need-to-know news everyday in your inbox.
Total nonfarm payrolls saw a fifth consecutive over-the-month increase in July, up +11,700 (+0.2%) to 6,176,400, a record high. The June monthly change in payrolls was revised from the preliminary report, from +1,500 to +1,800. The July payroll jobs estimate and unemployment rate reflect activity for the week including the 12th.
The industry sectors with the largest monthly payroll jobs increases included: Private Education and Health Services (+6,200), Trade, Transportation and Utilities (+3,800), and Professional and Business Services (+3,700). The sectors with over-the-month jobs decreases included: Leisure and Hospitality (-3,800), Financial Activities (-2,200), and Information (-600).
Compared to a year ago, total nonfarm payroll jobs were up +11,900 jobs. The industry groups with the largest jobs increases included: Private Education and Health Services (+13,000), Construction (+12,700) and Government (+6,100). The industry groups with the largest jobs decreases included: Financial Activities (-14,500), Trade, Transportation and Utilities (-4,500), and Professional and Business Services (-3,600). In July, total nonfarm payrolls were up +0.2% over-the-year in Illinois and up +0.2% in the nation.
“Illinois’ economy continues to demonstrate its resilience, reaching a record number of payroll jobs in July despite the uncertainty and economic headwinds created by the federal government,” said Deputy Governor Andy Manar. “Five consecutive months of job growth is encouraging, but we know there is more work ahead. Illinois will continue investing in its workforce, supporting businesses and building an economy that can withstand national challenges.”
“This month's report indicating that Illinois set a new record high number of payroll jobs is a reminder why we must continue investing in our state's biggest asset - our workforce,” said DCEO Director Kristin Richards. “DCEO is committed to building upon this momentum and prioritizing public policy and programs that strengthen Illinois' economy.”
The number of unemployed persons in July was 315,700, down -4.3% from June, and up +12.5% over the same month one year ago. The labor force was down -0.4% from June and down -1.0% 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.
IDES helps connect jobseekers to employers who are hiring in a number of ways, including hosting and co-hosting job fairs and hiring events with statewide workforce partners, and through maintaining Illinois JobLink (IJL), the state’s largest job search engine. IJL is a tool used by jobseekers to look for work, and by employers who can post open and available positions for hire and browse resumes. Recently, IJL showed 59,325 posted resumes with 70,314 jobs available. Additionally, in partnership with IDOL and DCEO, IDES published resources to assist federal employees and contractors impacted by recent terminations or deferred resignations.
More like this:
- Most Popular
- Top Stories
- Most Recent
