* Press release…
The Illinois Department of Employment Security (IDES) announced [yesterday] that the unemployment rate declined -0.2 percentage points to 4.7 percent in April and nonfarm payrolls decreased by -7,200 jobs over-the-month, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. March job growth was revised up to show a decrease of -7,700 jobs rather than the preliminary estimate of -8,900 jobs. April’s monthly payroll drop kept over-the-year job growth well below the national average. Due to payroll declines for both March and April, Illinois remains -25,600 jobs short of reaching its prior peak employment reached in September 2000.
“Illinois did not participate in the nation’s job growth in April,” said IDES Director Jeff Mays. “Furthermore, the decline in the unemployment rate was largely due to a drop in the labor force, not more people working.”
“We continue to see sluggish growth in our economy due to the inability of the legislature to institute common-sense structural changes that would encourage investment in our state,” said Illinois Department of Commerce & Economic Opportunity Director Sean McCarthy. “If we create a business-friendly environment, we will see greater opportunities and more good paying jobs in every community.”
In April, the three industry sectors with the largest gains in employment were: Education and Health Services (+2,600); Manufacturing (+1,900); and Information Services (+1,300). The largest payroll declines were in the following sectors: Trade, Transportation and Utilities (-7,100); Construction (-4,500); and Leisure and Hospitality (-2,400).
Over-the-year, nonfarm payroll employment increased by +22,100 jobs with the largest gains in these industry sectors in April: Education and Health Services (+16,200); Professional and Business Services (+11,600); Financial Activities (+8,700). Industry sectors with the largest over-the-year declines include: Construction (-6,600); Trade, Transportation and Utilities (-6,500); and Manufacturing (-3,600). The +0.4 percent over-the-year gain in Illinois is about one-fourth as strong as the +1.6 percent gain posted by the nation in April.
The state’s unemployment rate is +0.3 percentage points higher than the national unemployment rate reported for April 2017, which decreased to 4.4 percent. The Illinois unemployment rate is down -1.3 percentage points from a year ago when it was 6.0 percent. At 4.7 percent, the Illinois jobless rate stands at its lowest level since March 2007, after having decreased for three consecutive months.
The number of unemployed workers decreased -4.7 percent from the prior month to 307,000, down -21.9 percent over the same month for the prior year. This brings the number of unemployed workers to its lowest level since February 2007.The labor force decreased -0.3 percent over-the-month and declined by -0.7 percent in April over the prior year. The unemployment rate identifies those individuals who are out of work and are seeking employment. An individual who exhausts or is ineligible for benefits is still reflected in the unemployment rate if they actively seek work.
…Adding… Press release…
Illinois continues to lose nearly ten manufacturing employees every day according to the latest dismal jobs report from the Illinois Department of Employment Security (IDES). This report comes on the heels of Butterball’s announcement of their plant closing in Montgomery, Illinois. Greg Baise, CEO and president of the Illinois Manufacturers’ Association, has released the following statement underscoring the importance of enacting a balanced budget with strong economic reforms, especially focused on workers’ compensation policy:
“This jobs report coupled with another business closing its doors in Illinois reinforces the need for action. Since 2009, Illinois has lost more than 1,600 manufacturing jobs while our neighbors have added tens of thousands of new jobs. With 11 days left of session, we hope this announcement injects a heightened sense of urgency to enact a balanced budget imposing fiscal restraint and strong economic reforms, centered on real workers’ compensation changes. Another 600 families are out of work on top of the 10 manufacturing jobs we are losing on a daily basis according to today’s IDES report.”