* Press release…
The Illinois Department of Employment Security (IDES) announced today that the unemployment rate was unchanged at 4.9 percent in November and nonfarm payrolls decreased by -1,100 jobs over-the-month, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. October job growth was revised up to show a larger gain (+9,300 jobs) than initially reported (+3,400 jobs).
November’s monthly payroll drop kept over-the-year job growth well below the national average. While Illinois job growth has had its ups and downs since the beginning of the year, the 3-month trend shows average gains of +100 jobs per month from September to November, while the six-month trend shows an increase of +800 average monthly job gains from June to November. The 3-month was better than reported last month, though the 6-month change showed less strength.
“Illinois employment growth saw a lot of over-the-month ups and downs this past year.” said IDES Director Jeff Mays. “But payrolls overall have increased by about a half-percent over the year to date, which is an additional 23,900 jobs.”
“Our focus remains on creating a business-friendly environment that is conducive to opportunity,” said Illinois Department of Commerce and Economic Opportunity Director Sean McCarthy. “While we are still growing slower than the nation, Illinois is seeing the benefits of a pro-business administration that is committed to fostering innovation, attracting investment and creating jobs.”
In November, the three industry sectors with the largest gains in employment were: Professional and Business Services (+6,300); Manufacturing (+2,200); and Construction (+2,100). The three industry sectors with the largest payroll declines were: Government (-2,800); Financial Activities (-2,200) and Other Services (-2,100).
Over-the-year, nonfarm payroll employment increased by +25,900 jobs with the largest gains in these industry sectors in November: Financial Activities (+13,600); Professional and Business Services (+9,500); and Education and Health Services (+7,400). The industry sectors with the largest over-the-year declines include: Government (-8,000); Leisure and Hospitality (-1,800); and Trade, Transportation and Utilities (-1,400). Illinois nonfarm payrolls were up +0.4 percent over-the-year in sharp contrast to the nation’s +1.4 percent over-the-year gain in November.
The state’s unemployment rate is +0.8 percentage points higher than the national unemployment rate reported for November 2017, which held at 4.1 percent. The Illinois unemployment rate is down -0.9 percentage points from a year ago when it was 5.8 percent. At 4.9 percent, the Illinois jobless rate is -0.8 percentage points lower than January 2017.
The number of unemployed workers dipped -1.0 percent from the prior month to 313,800, down -16.2 percent over the same month for the prior year. The labor force increased 0.3 percent over-the-month and declined by -0.9 percent in November 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… Illinois Working Together…
Today, the Illinois Department of Employment Security announced the state lost over 1,000 non-farm payroll jobs last month while the job growth rate was just 0.4% over-the-year, far below the national job growth rate of 1.4%. This news comes a day after the U.S. Census announced Illinois has lost nearly 34,000 people since mid-2016, the worst outmigration for any U.S. state.
In his 2014 inaugural address, Gov. Bruce Rauner said, “People are leavin’ to find jobs, or because they run companies, and they’re takin’ their jobs with `em.” Nearly three years into his term as governor, Rauner not only has failed to reverse Illinois’ economic stagnation leading to population loss, he’s made things much, much worse.
“Bruce Rauner promised to ‘bring back Illinois,’ but instead, we’ve gotten the Rauner two-step: stagnant job growth and record-high outmigration,” said Illinois Working Together Campaign Director Jake Lewis. “Instead of providing the economic stability needed to grow new jobs and attract new residents, Rauner’s failed leadership continues to drag Illinois’ economy down and push Illinoisans out.”