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Unemployment rate rose to 5 percent in June, but payrolls increased by 10,400

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Illinois

* IDES…

The Illinois Department of Employment Security (IDES) announced today that the unemployment rate increased +0.1 percentage point to 5.0 percent, while nonfarm payrolls increased +10,400 in June, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), and released by IDES. The May revised unemployment rate was 4.9 percent, unchanged from the preliminary May unemployment rate. The May monthly change in payrolls was revised from the preliminary report, from +12,700 to +9,600 jobs. The June unemployment rate and payroll jobs estimate reflect activity for the week including the 12th.

In June, the industry sectors with the largest over-the-month job gains included: Private Education and Health Services (+7,100), Trade, Transportation, and Utilities (+3,200), and Government (+2,800). The industry sectors with monthly payroll job declines included Leisure and Hospitality (-1,800), Information (-1,100), and Professional and Business Services (-1,000).

“Stable payroll job growth remains a positive component of the Illinois economy, further encouraging and stimulating participation in the state’s labor force,” said Deputy Governor Andy Manar. “As jobs continue to expand, creating new and diverse career opportunities, IDES stands ready to assist workers and employers with the necessary assistance to jump into the workforce.”

“Illinois’ labor market remains strong with consistent growth in payroll jobs,” said DCEO Director Kristin Richards. “DCEO will continue to provide its world-class workforce, employers and job seekers with the tools and resources needed to contribute to the state’s growing economy.”

The state’s unemployment rate was +0.9 percentage point higher than the national unemployment rate reported for June. The national unemployment rate was 4.1 percent in June, up +0.1 percentage point from the previous month. The Illinois unemployment rate was up +0.7 percentage point from a year ago when it was 4.3 percent.

Compared to a year ago, total nonfarm payroll jobs increased by +24,200 jobs. The industry groups with the largest jobs increases included: Private Education and Health Services (+26,400), Government (+26,400), and Other Services (+8,500). The industry groups with the largest jobs decreases included: Professional and Business Services (-27,000), Financial Activities (-7,500), and Information (-5,300). In June, total nonfarm payrolls were up +0.4 percent over-the-year in Illinois and up +1.7 percent in the nation.

The number of unemployed workers was 327,900, up +3.3 percent from the prior month, and up +18.7 percent over the same month one year ago. The labor force was up +0.1 percent over-the-month and up +1.4 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, Jul 18, 24 @ 12:20 pm

Comments

==Compared to a year ago, total nonfarm payroll jobs increased by +24,200 jobs

Government (+26,400)==

Ouch.

Comment by City Zen Thursday, Jul 18, 24 @ 12:36 pm
Another month where unemployment increased, now at 5% and another month where one of the top sectors in growth in jobs is in the government sector.
Financial and business down again, IT down, hospitality down.
Plus we are still almost a full % point higher than the rest of the country

Not sure crowing about increasing government workforce and losing private sector finance jobs is a great sign of a strengthing economy.

Comment by Frida’s boss Thursday, Jul 18, 24 @ 2:45 pm