Illinois Payrolls Nearly Unchanged, Unemployment Rate Stable in October

Illinois Payrolls Nearly Unchanged, Unemployment Rate Stable in October

Press Release - Friday, November 15, 2024

SPRINGFIELD - The Illinois Department of Employment Security (IDES) announced today that nonfarm payrolls were down -2,400 while the unemployment rate was unchanged at 5.3 percent in September, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), and released by IDES. The September monthly change in payrolls was revised from the preliminary report, from +7,100 to -15,800, while the revised unemployment rate was 5.3 percent, unchanged from the preliminary September unemployment rate. The October payroll jobs estimate and unemployment rate reflect activity for the week including the 12th.

In October, the industry sectors with the largest over-the-month job losses included: Trade, Transportation, and Utilities (-1,900), Other Services (-1,000), Information (-300), and Professional and Business Services (-300). The industry sectors with monthly payroll job increases included: Leisure and Hospitality (+1,400), Manufacturing (+100), and Private Education and Health Services (+100).

"Illinois continues to prioritize capitalizing on opportunities to enhance investments in the workforce and to support the talented and diverse labor force across the state," said Deputy Governor Andy Manar. "IDES and its workforce partners remain committed to providing jobseekers and employers with the critical resources they need to take advantage of a robust, healthy workforce ecosystem."

"Illinois' steady payroll job numbers are a testament to the importance of investing in our state's growing economic ecosystem," said DCEO Director Kristin Richards. "DCEO is dedicated to continuing our efforts to ensure Illinois remains a place of opportunity and the best place to live, work and do business."

The state's unemployment rate was +1.2 percentage points higher than the national unemployment rate reported for October. The national unemployment rate was 4.1 percent in October, unchanged from the previous month. The Illinois unemployment rate was up +0.5 percentage point from a year ago when it was 4.8 percent.

Compared to a year ago, total nonfarm payroll jobs increased by +40,500 jobs. The industry groups with the largest jobs increases included: Private Education and Health Services (+30,400), Government (+22,300), and Other Services (+9,200). The industry groups with the largest jobs decreases included: Professional and Business Services (-18,400), Financial Activities (-8,000), and Information (-1,600). In October, total nonfarm payrolls were up +0.7 percent over-the-year in Illinois and up +1.4 percent in the nation.

The number of unemployed workers was 346,400, up +0.8 percent from the prior month, and up +12.5 percent over the same month one year ago. The labor force was up +0.1 percent over-the-month and up +1.1 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.

IDES helps connect jobseekers to employers who are hiring in a number of ways, including hosting and co-hosting job fairs and hiring events with statewide workforce partners, and through maintaining Illinois JobLink(IJL), the state's largest job search engine. IJL is a tool used by jobseekers to look for work, and by employers who can post open and available positions for hire and browse resumes. Recently, IJL showed 60,382 posted resumes with 84,752 jobs available.

Seasonally Adjusted Unemployment Rates

Illinois Seasonally Adjusted Nonfarm Jobs - by Major Industry

• Monthly 2019-2023 seasonally adjusted labor force data for Illinois, and all other states, have been revised as required by the U.S. Bureau of Labor Statistics (BLS). The monthly historical revisions to state labor force estimates reflect new national benchmark controls, state working-age population controls, outlier specifications, seasonal factors, as well as updated total nonfarm jobs and unemployment benefits claims inputs. Illinois labor force data were also smoothed to eliminate large monthly changes as a result of volatility in the monthly Current Population Survey (CPS) and national benchmarking. For these reasons, the comments and tables citing unemployment rates in previous news releases/materials may no longer be valid.
• Monthly seasonally adjusted unemployment rates for Illinois and the Chicago-Naperville-Arlington Heights Metropolitan Division are available here.
• Monthly 2019-2023 seasonally adjusted nonfarm payroll employment data for Illinois have been revised. To control for potential survey error, the estimates are benchmarked annually to universal counts derived primarily from unemployment insurance tax reports.
• Not seasonally adjusted jobs data with industry detail are available here. "Other Services" include activities in three broad categories: personal and laundry; repair and maintenance; and religious, grant making, civic and professional organizations.Seasonally adjusted data for subsectors within industries are not available.

About the Department of Employment Security

The Illinois Department of Employment Security (IDES) provides vital employment services to Illinois workers, jobseekers, and employers with resources including Job Fairs, IllinoisJobLink.com, and WorkShare IL, analyzes and disseminates actionable Labor Market Information, and administers the Unemployment Insurance Program. To see the full range of services provided by IDES, and for the latest news concerning the department, visit IDES.Illinois.gov.