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* UPDATED x1 * New unemployment claims drop nationally, plummet in Illinois

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New jobless claims fell to the lowest levels of the pandemic era, federal data shows, with a better-than-expected 684,000 being filed last week.

Economists surveyed by Dow Jones had expected to see a number near 735,000 after filings spiked to 781,000 the week before. The latest tally is less than the pre-pandemic weekly high of 695,000, set in October 1982.

* CBS 2…

The Illinois Department of Employment Security (IDES) reported 15,595 new unemployment claims were filed during the week of March 15 in Illinois, a significant decrease from the previous week.

For comparison, during the same timeframe last year, 126,716 people filed claims in Illinois. That’s an 87.7% decrease. […]

There were 71,175 new unemployment claims filed in Illinois during the week of March 8.

That seems… very odd. But click here. According to the feds, we’re half the national total of reductions.

...Adding… Add in Ohio, and our two states account for more than the total national net reduction in new weekly claims.

*** UPDATE *** I asked for a response from IDES and here it is…

In the last two months, Illinois has added 44,300 jobs, and the last week of claims data is confirming that improved job market indicator. Additionally, continued claims for the last two weeks have fallen below the comparable weeks of the 2007 recession, which is further confirmation that the data is moving in the right direction.

* Also CBS 2…

“I’ve never applied for unemployment,” Nugent said.

So an email he received Tuesday morning was such a surprise. It claimed to be from IDES, directing him to a link to claim his $1,400 unemployment payment.

“I’ve got a pretty good spam filter, but somehow, this made it through,” Nugent said.

It was even from a dot-gov email account – but not one from Illinois. The dot-gov was Seattle.gov. […]

The City of Seattle said nearly two dozen of their employees fell for an email phishing scam Monday night and the city has now disabled those accounts.

* IDES…

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate decreased -0.3 percentage point to 7.4 percent, while nonfarm payrolls were up +21,100 jobs in February, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The January monthly change in payrolls was revised from the preliminary report, rising from +9,700 to +23,200 jobs. The January unemployment rate was unchanged from the preliminary report, remaining at 7.7 percent.

The February payroll jobs estimate and unemployment rate reflects activity for the week including the 12th. The BLS has published FAQs for the February payroll jobs and the unemployment rate.

In February, the three industry sectors with the largest over-the-month gains in employment were: Leisure and Hospitality (+32,300), Trade, Transportation and Utilities (+2,400) and Information (+700). The industry sectors that reported the largest monthly payroll declines were: Construction (-5,600), Professional and Business Services (-4,500) and Government (-2,200).

“IDES and the Pritzker administration remain committed to supporting claimants and families with the services they need as the state moves toward a full reopening and the economy begins to recover from the COVID-19 pandemic,” said Deputy Governor Dan Hynes. “IDES continues to serve an unprecedented number of claimants while working on process improvements that make navigating unemployment and job-seeking services as easy as possible.”

“Under Governor Pritzker’s leadership, Illinois has prioritized a safe and measured reopening of our state – with data driven metrics updated on an ongoing basis to continue bringing people back into the workforce,” said Sylvia Garcia, Acting Director of the Department of Commerce and Economic Opportunity (DCEO). “The latest unemployment data demonstrates Illinois is poised to continue making progress in returning key industries, supporting workers, and restoring our economy.”

The state’s unemployment rate was +1.2 percentage points higher than the national unemployment rate reported for February, which was 6.2 percent, down -0.1 percentage point from the previous month. The Illinois unemployment rate was up +3.8 percentage points from a year ago when it was 3.6 percent.

Compared to a year ago, nonfarm payroll employment decreased by -461,200 jobs, with losses across all major industries. The industry groups with the largest jobs decreases were: Leisure and Hospitality (-185,700), Educational and Health Services (-62,900) and Government (-54,100). Illinois nonfarm payrolls were down -7.5 percent over-the-year as compared to the nation’s -6.2 percent over-the-year decline in February.

The number of unemployed workers fell from the prior month, a -4.0 percent decrease to 454,200, and was up +100.6 percent over the same month for the prior year. The labor force was down -0.1 percent over-the-month and down -3.4 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.

posted by Rich Miller
Thursday, Mar 25, 21 @ 12:50 pm

Comments

===* Also CBS 2…==

Cue the uninformed screaming about how this is somehow IDES’ fault, which only distracts from their real failures.

Comment by Precinct Captain Thursday, Mar 25, 21 @ 1:02 pm
Best economic news for this state in a year and… crickets. Weird.

Comment by Rich Miller Thursday, Mar 25, 21 @ 2:19 pm
What this report does, at least for me, is give me a statistical reason for my own optimism as the state reopens and local businesses in my neck of the woods are seemingly busier.

It’s palpable the want to get the economy roaring. This is a good indicator it’s not based on mere hope.

Comment by Oswego Willy Thursday, Mar 25, 21 @ 2:23 pm
===our two states account for more than the total national net reduction in new weekly claims===

If I understand this correctly that IL and OH have all the net drop in claims, that means all other states combined had a net increase on average? Some may be up and some may be down, but the average is an increase in claims.

Very strange. Reminds me of national higher ed reports for FY16 that excluded IL from their data because state support for college was up nationally with IL excluded and down if IL was included due to the budget impasse.

Or like UIUC saliva tests being excluded from Champaign County and Region 6 metrics.

Comment by thechampaignlife Thursday, Mar 25, 21 @ 2:56 pm
This cricket can’t figure out how Illinois added that many jobs during February’s atrocious weather. Expected March to be stronger but that February bump even after the indoor ban ended (where it was actually being enforced) is really weird.

Comment by ChicagoBars Thursday, Mar 25, 21 @ 4:18 pm