* Press release…
The Illinois Department of Employment Security (IDES) announced today that the unemployment rate fell -0.1 percentage point to 4.7 percent, while nonfarm payrolls increased by +18,300 in March, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The February monthly change in payrolls was revised from the preliminary report, from +19,600 to +25,100 jobs. The February unemployment rate was unchanged from the preliminary report, remaining at 4.8 percent. The March payroll jobs estimate and unemployment rate reflects activity for the week including the 12th.
In March, the industry sectors with the largest over-the-month gains in employment were: Professional and Business (+9,700), Financial Activities (+3,800), and Leisure and Hospitality (+3,500). The industry sectors that reported monthly payroll declines were: Trade, Transportation and Utilities (-3,500), Other Services (-1,200) and Mining (-100).
“We are pleased to see another positive sign of Illinois’ continued economic growth,” said Deputy Governor Andy Manar. “IDES and the Pritzker Administration are committed to innovating and building an even stronger workforce system. Workers and businesses across Illinois can leverage the latest resources by visiting Get Hired Illinois or IllinoisJobLink.com today.”
“With the unemployment rate falling and thousands of jobs being added in key industries, such as hospitality and professional services, Illinois continues on a positive economic trajectory,” said DCEO Director Sylvia I. Garcia. “DCEO remains laser-focused on prioritizing efforts to attract job creators while supporting an equitable economic recovery for all Illinoisans.”
The state’s unemployment rate was +1.1 percentage points higher than the national unemployment rate reported for March, which was 3.6 percent, down -0.2 percentage point from the previous month. The Illinois unemployment rate was down -2.0 percentage points from a year ago when it was at 6.7 percent.
Compared to a year ago, nonfarm payroll employment increased by +238,300 jobs, with gains across nearly all major industries. The industry groups with the largest jobs increases were: Leisure and Hospitality (+87,600), Professional and Business Services (+55,000), and Trade, Transportation and Utilities (+40,200). Construction was the only industry that reported a decrease (-700). In March, total nonfarm payrolls were up +4.1 percent over-the-year in Illinois and up +4.5 percent in the nation.
The number of unemployed workers was down from the prior month, a -3.0 percent decrease to +299,300 and was down -29.4 percent over the same month for one year ago. The labor force was up +0.4 percent over-the-month and up +2.2 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.
* Comparison…
…Adding… Jesse Sullivan…
“Illinois should be leading America’s economy, not trailing – and we can again with new leadership.
“Unfortunately, the legacy of J.B. Pritzker’s economy is that he closed our businesses, told workers to stay home, and raised our taxes. The result: Illinois just received an ‘F’ grade for economic outcomes during COVID. Temporary election-year gimmicks won’t undo the damage he’s caused, and the voters know it.
“We can do better. I’ve invested in job creators around the world, bringing prosperity and purpose in the toughest of circumstances. It can be done here in Illinois, but only if we make a real change.
“Businesses and workers in Illinois are dealing with much more than profits and losses. They’re scared and held back because of rising crime, corruption in Springfield, and high taxes. I’m the only candidate who’s signed the Taxpayer Protection Pledge, I’m the only candidate who has a Safe Streets Plan to crack down on crime, and I’m the only candidate with a Clean Up Illinois agenda to end corruption in Springfield.
“It’s going to take a real change from a real outsider, not another politician, to grow Illinois’s economy to the front of the pack where we belong.”
- Candy Dogood - Thursday, Apr 14, 22 @ 2:18 pm:
===“Illinois should be leading America’s economy, not trailing – and we can again with new leadership.===
Mr. God, Guns, and Crypto doesn’t have the leadership skills to provide leadership that would allow private firms to innovate in Illinois better. I don’t understand why he’s pretending like this is a planned economy.
- Back to the Future - Thursday, Apr 14, 22 @ 3:18 pm:
Absolutely thinking I have heard enough about the God stuff. Mr. Sullivan says he is a person of “faith”. Not being cynical about anyone’s religious beliefs, but I think he has made his point and it would be important to move on to plans to get the State of Illinois moving in a better direction.
In terms of Mr. Sullivan’s ability to creat opportunities for job creation, he has a record of doing that on a global basis. Not saying he is the fellow to turn things around, but we need an administration that can turn these numbers on employment around and the current numbers show Team JBP is having problems.
- Central Illini - Thursday, Apr 14, 22 @ 5:00 pm:
Our state continues to reach the potential. With Federal funding to the tune of $16 billion over the last few years is the only way we have not fallen off the cliff. Seems the administration has made some good decisions, however they continue to raise spending. Everyone knows you pay off debts before increasing spending.
The failure to take care of the unemployment debt is unfathomable and dereliction of leadership. In addition to push a decision until after the November election is a classic example. But administration can stand there and say - at least you will get a $50/$100 check.