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* IDES…
The Illinois Department of Employment Security (IDES) announced today that the unemployment rate in November remained at 5.6 percent and nonfarm payrolls increased by +1,700 jobs over the month, based on preliminary data released by the U.S. Bureau of Labor Statistics (BLS) and IDES. October job growth was revised up to show an increase of +3,400 jobs rather than the preliminary figure of +2,200 jobs. Despite the upward revision, job growth remains below the national average, with Illinois -29,600 jobs short of its peak employment level reached in September 2000.
“Through 11 months of 2016, the nation’s rate of growth continues to outpace our rate by 50 percent,” said IDES Director Jeff Mays. “The biggest sector gains have been in professional and business services with 37,200 jobs added, while the biggest losses have been in manufacturing, with 8,700 fewer jobs.”
“If Illinois had grown at the same rate as the nation since the beginning of the recovery in 2010, we would have an additional 222,700 jobs,” said Illinois Department of Commerce & Economic Opportunity Acting Director Sean McCarthy. “With a balanced budget and structural reforms, our economy will be better able to grow jobs and provide opportunities for Illinois families.”
In November, the three industry sectors with the largest gains in employment were: Education and Health Services (+3,500); Leisure and Hospitality (+3,100); and Other Services (+1,800). The four industry sectors with the largest declines in employment were: Trade, Transportation and Utilities (-2,800); Construction (-2,300); Manufacturing (-700) and Information (-700).
Over the year, nonfarm payroll employment increased by +43,000 jobs with the largest gains in two industry sectors: Professional and Business Services (+35,400); and Leisure and Hospitality (+17,700). Industry sectors with the largest over-the-year declines in November include: Manufacturing (-10,100), Financial Activities (-5,600) and Information (-5,200). The +0.7 percent over-the-year gain in Illinois is less than the +1.6 percent gain posted by the nation in November.
The state’s unemployment rate is higher than the national unemployment rate reported for November 2016, which declined to 4.6 percent. The Illinois unemployment rate is down -0.4 percentage points from a year ago when it was 6.0 percent.
The number of unemployed workers increased +0.5 percent from the prior month to 368,500, down -6.4 percent over the same month for the prior year. The labor force was little changed over-the-month and grew by +0.5 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.
* Meanwhile…
Exelon officials announced Wednesday that they plan to hire more than 400 people to fast track multiple capital projects at the Quad Cities Generating Station near Cordova and its Clinton, Ill. nuclear power plant.
The announcement comes one week after Gov. Bruce Rauner signed the Future Energy Jobs Bill into law at Riverdale High School near Port Byron and similar ceremonies in Clinton, Ill.
“Opponents of the Future Energy Jobs Bill called it a bailout, but that’s a ridiculous argument,” said Rory Washburn, executive director of the Quad Cities area’s Tri City Building Trades Council. “This legislation is already creating good paying jobs for Illinois families and leveling the playing field so our safe and well run nuclear facilities can compete fairly with other subsidized sources of clean energy.”
posted by Rich Miller
Thursday, Dec 15, 16 @ 12:26 pm
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Previous Post: Where everything went off the rails
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The media and financial outlets keep saying we are almost at full employment………
Comment by Rocky Rosi Thursday, Dec 15, 16 @ 12:37 pm
Maybe we should all chip in and get IDES a puppy. They seem so down all the time.
Comment by The Captain Thursday, Dec 15, 16 @ 12:50 pm
There was a time when a 5.6% unemployment rate was something to crow about. Seeing as how the peak unemployment rate, in Illinois, was nearly 12% at the beginning of 2010, I would say we are doing pretty well.
Comment by Huh? Thursday, Dec 15, 16 @ 12:59 pm
That almost makes up for the 450 meter readers who will be let go once the “smart” meters are installed.
Comment by Anonymous Thursday, Dec 15, 16 @ 1:04 pm
Exelon - such corporate citizens. Hiring workers on the back of Illinois rate payers. This must be the Rauner economic development plan!
Comment by Wilson Thursday, Dec 15, 16 @ 1:05 pm
From Crain’s- http://www.chicagobusiness.com/article/20161214/BLOGS10/161219994/nuclear-power-giant-exelon-would-lose-out-under-trumps-epa
As to those 400 jobs, how many are returning plant employees that were shuffled to other Exelon sites because of the shutdown threat? Just wondering…
Also, those “new” employees are needed to perform mandatory fixes at these two plants. This is not optional work if Exelon wants to keep their plants licensed.
Comment by Anon221 Thursday, Dec 15, 16 @ 1:13 pm
Having worked at IDES as an SPSA for 8 years, it’s disturbing to see structural reforms, ie turnaround agenda, in the press release as a solution to increasing job creation.
Comment by Bothanspy Thursday, Dec 15, 16 @ 2:10 pm
Bi difference Between U3 and U6 unemployment rates. Usually the U3 figure is cited but it is a much narrower range and it ‘looks better’ than what it really is for one heck of a lot of people.
Comment by Federalist Thursday, Dec 15, 16 @ 3:09 pm
Maybe if social service agencies were getting funded by the state, they wouldn’t have to cut back on staff and lay off dedicated professionals.
Comment by Soccermom Thursday, Dec 15, 16 @ 4:23 pm