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* Highlights…
Illinois Hits New Record For Job Creation
- Today, the state of Illinois reported 6,153,500 non-farm jobs beating our previous record from January 2020 of 6,145,400.
- Illinois reported 5,334,000 private sector jobs, beating the previous record of 5,130,000.
- In the last month the state added 11,200 jobs, a .2% increase—that’s double the rate of increase of the nation as a whole.
“Illinois has experienced consecutive job growth every month this year, and today’s record-breaking total payroll jobs data is clear indication of the marked level of strength in the labor market throughout the state,” said Deputy Governor Andy Manar. “As the state continues to prioritize investments in workforce opportunities, IDES and its partners stand ready to provide the services needed for individuals to take advantage of the new and expanding job possibilities across Illinois.”
* Full press release…
The Illinois Department of Employment Security (IDES) announced today that the unemployment rate was unchanged at 4.0 percent, remaining at the lowest level since the onset of the pandemic, while nonfarm payrolls increased by +11,200 in July, surpassing the pre-pandemic number of total nonfarm payrolls, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES. The June revised unemployment rate was 4.0 percent, unchanged from the preliminary June unemployment rate. The June monthly change in payrolls was revised from the preliminary report, from +8,400 to +9,700 jobs. The July unemployment rate and payroll jobs estimate reflect activity for the week including the 12th.
In July, the industry sectors with the largest over-the-month job gains included: Educational and Health Services (+6,400), Trade, Transportation and Utilities (+4,500), and Government (+1,900). The industry sectors with monthly payroll job declines included: Professional and Business Services (-3,000), Other Services (-900) and Manufacturing (-500).
“Illinois has experienced consecutive job growth every month this year, and today’s record-breaking total payroll jobs data is clear indication of the marked level of strength in the labor market throughout the state,” said Deputy Governor Andy Manar. “As the state continues to prioritize investments in workforce opportunities, IDES and its partners stand ready to provide the services needed for individuals to take advantage of the new and expanding job possibilities across Illinois.”
“It’s clear that Illinois is making significant progress as we achieve this notable milestone for payroll jobs,” said DCEO Director Kristin Richards. “Illinois is experiencing a banner year for economic development and DCEO remains committed to providing resources and support to job seekers and job creators across the state.”
The state’s unemployment rate was +0.5 percentage point higher than the national unemployment rate reported for July. The national unemployment rate was 3.5 percent in July, down -0.1 percentage point from the previous month. The Illinois unemployment rate was down -0.4 percentage point from a year ago when it was at 4.4 percent.
Compared to a year ago, nonfarm payroll jobs increased by +89,700 jobs, with gains across most major industries. The industry groups with the largest jobs increases included: Educational and Health Services (+42,500), Government (+27,200), and Leisure and Hospitality (+26,500). Professional and Business Services (-12,400), Manufacturing (-10,200), and Information (-5,200) reported declines in payroll jobs. In July, total nonfarm payrolls were up +1.5 percent over-the-year in Illinois and up +2.2 percent in the nation.
The number of unemployed workers was 255,100, the lowest level since the onset of the pandemic. The number of unemployed was down -1.2 percent from the prior month, and -11.0 percent over the same month one year ago. The labor force was down -0.2 percent over-the-month and down -0.3 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.
In June 2020, Governor Pritzker launched Get Hired Illinois, a one-stop-shop website to help connect job seekers with hiring employers in real time. The site features virtual job fairs, no-cost virtual training, and includes IllinoisJobLink.com (IJL), the state’s largest job search engine, which recently showed 53,334 posted resumes with 107,599 available jobs.
…Adding… Crain’s with a little context…
The record comes almost a year after the nation passed its pre-pandemic total last September. But gleeful officials in Gov. J.B. Pritzker’s administration trumpeted the news, saying it proves Illinois is on the right path.
posted by Isabel Miller
Thursday, Aug 17, 23 @ 12:37 pm
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Wait, this can’t be. I heard nobody wants to come to Illinois, Illinois is a horrible place for business and JB is a bad governor. oops…nevermind.
Comment by New Day Thursday, Aug 17, 23 @ 12:58 pm
Wait, this can’t be. I heard raising the state’s minimum wage would cause employers to hire fewer employees in Illinois.
Comment by Steve Polite Thursday, Aug 17, 23 @ 1:16 pm
Wait, this can’t be. I just heard again this morning that no on wants to work anymore.
Comment by Cool Papa Bell Thursday, Aug 17, 23 @ 1:20 pm
Wait, this can’t be. This is not my Batman glass, Lois.
Comment by The Truth Thursday, Aug 17, 23 @ 1:23 pm
Wait…this can’t be, LP says everything is bad in Illinois.
Comment by JS Mill Thursday, Aug 17, 23 @ 1:28 pm
By any economic choice of measure (sourcing), a ~ 4.5-6% unemployment rate is considered “full employment”
Comment by Oswego Willy Thursday, Aug 17, 23 @ 1:32 pm
It’s damned funny that five of us started with, “wait, this can’t be.”
Comment by New Day Thursday, Aug 17, 23 @ 1:50 pm
=It’s damned funny that five of us started with, “wait, this can’t be.”=
I thought it was a thread requirement, and then OW
came along and apparently didn’t get the memo. I still like OW though.
Comment by JS Mill Thursday, Aug 17, 23 @ 2:08 pm
- JS Mill -
Well, you’re aces, bud, and yeah, sorry…
It’s that “context” part of me that gets away from true comedic timing.
:)
Comment by Oswego Willy Thursday, Aug 17, 23 @ 2:12 pm
I liked New Day’s post, so I thought it would be fun to riff off of what they said.
Comment by Steve Polite Thursday, Aug 17, 23 @ 2:16 pm
Thanks, Steve
Comment by New Day Thursday, Aug 17, 23 @ 2:30 pm
Waiting for LP’s depressing and negative take on this to finish out my day.
Comment by Baloneymous Thursday, Aug 17, 23 @ 4:13 pm
Rich….I think you could begin using “Wait, this can’t be” as a recurring article title as you do with “Unclear on the concept,” “Oppo dump,” and “Caption this.”
Comment by Diver Down Friday, Aug 18, 23 @ 7:10 am