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Unemployment up, jobs down

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Illinois

* Press release…

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate in December inched up +0.1 percentage points to 5.7 percent and nonfarm payrolls decreased by -16,700 jobs over the month, based on preliminary data released by the U.S. Bureau of Labor Statistics (BLS) and IDES. November job growth was revised down to show a decrease of -4,500 jobs rather than the preliminary figure of +1,700 jobs. The downward revision, coupled with the drop in December payrolls kept job growth well below the national average, with Illinois -52,500 jobs short of its peak employment level reached in September 2000.

“Nonfarm payrolls reflect the job market and this kind of drop is troubling, to say the least,” said IDES Director Jeff Mays. “It’s the largest monthly decline we’ve seen this year and the drop was across most sectors.”

“Another month of climbing unemployment numbers that are far from the national average,” said Illinois Department of Commerce & Economic Opportunity Acting Director Sean McCarthy. “Illinois needs structural reforms and a balanced budget to attract new jobs and investment in our state. We cannot repair the damage of losing 11,000 manufacturing jobs, 9,700 construction jobs and 5,800 information and financial activities jobs over the course of just one year without real changes that create growth and opportunity in our economy.”

In December, the two industry sectors with the largest gains in employment were: Financial Activities (+1,600); and Information (+300). The three industry sectors with the largest declines in employment were: Education and Health Services (-5,400); Professional and Business Services (-3,600); and Construction (-3,200).

Over the year, nonfarm payroll employment increased by +28,400 jobs with the largest gains in two industry sectors: Professional and Business Services (+31,600); and Leisure and Hospitality (+11,900). Industry sectors with the largest over-the-year declines in December include: Manufacturing (-11,000), Construction (-9,700), Information (-2,900), and Financial Activities (-2,900). The +0.5 percent over-the-year gain in Illinois is less than the +1.5 percent gain posted by the nation in December.

The state’s unemployment rate is higher than the national unemployment rate reported for December 2016, which increased to 4.7 percent. The Illinois unemployment rate is down -0.4 percentage points from a year ago when it was 6.1 percent.

The number of unemployed workers increased +1.7 percent from the prior month to 374,500, down -6.5 percent over the same month for the prior year. The labor force was little changed over-the-month (-2,500) and grew by +0.3 percent in December 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.

posted by Rich Miller
Friday, Jan 20, 17 @ 12:18 pm

Comments

In before high tax rates, WC costs and burdensome regulations:

California adds 3,700 jobs in December, pushing unemployment rate down to 5.2%

-http://www.latimes.com/business/la-fi-california-jobs-december-report-20170120-story.html

Comment by Matt Belcher Friday, Jan 20, 17 @ 12:25 pm
but rauner expired the job killing income tax rate…. decreased economic spending and money circulating in the economy by billions. Where is his promised trickle down growth from low taxes?

Comment by Ghost Friday, Jan 20, 17 @ 12:26 pm
Jeff Mays is exactly the kind of all talk no action person Donald Trump was talking about today. But hey who can blame Jeff for padding his state retirement with his current gig.

Comment by Whoelse Friday, Jan 20, 17 @ 12:33 pm
Structural reform? Like raising energy costs on manufacturers by bailing out Exelon, a company that made over $2 billion last year.

Comment by Wilson Friday, Jan 20, 17 @ 12:34 pm
It’s pretty hard to grow when the state isn’t paying vendors example health sector and yesterday’s unpaid backlog. Why don’t they speak about that….

Comment by Ex Spsa Friday, Jan 20, 17 @ 12:36 pm
Education and health services are influenced by the state not paying it’s bills to social service providers, and not paying much to higher education. Construction always slows down in Illinois in winter because of the weather. California is less affected by the weather, so would not slow down as much.

Comment by DuPage Friday, Jan 20, 17 @ 12:42 pm
It’ll be hard to maintain growth in the sectors that are growing if that state continues to allow higher ed to decline. The message to young people is: go elsewhere to get your education. The message to businesses is: we are not willing to supply the educated workforce or support the innovative research you need (go to California, they care)

Comment by Pot calling kettle Friday, Jan 20, 17 @ 12:44 pm
Don’t worry. Explosive job growth is right around the corner. The top federal income tax rates will be slashed, and the tidal wave of jobs will wash over us.

Comment by Grandson of Man Friday, Jan 20, 17 @ 12:50 pm
Newsflash McCarthy, the jobs you are destroying Illinois to get with your reforms are with low wage low benefit employers like Amazon. So we just lost good paying jobs in education and health services, professional and business services so that you can attract parasitic RTW jobs.

It’s economic snake oil he’s selling.

How ’bout you support a budget and stabilize for businesses so we don’t lose any more.

Comment by Honeybear Friday, Jan 20, 17 @ 1:07 pm
Good to see with lower income tax rates the state continues to flourish.

Comment by Obamas Puppy Friday, Jan 20, 17 @ 2:06 pm
See what growth we’d have if we simply taxed retirement income like California?

Comment by City Zen Friday, Jan 20, 17 @ 2:11 pm
It’s all Madigan’s fault, right?

Comment by Anonymous Friday, Jan 20, 17 @ 4:33 pm