Ill. unemployment rate drops 2%
The unemployment rate fell two percentage points to 15.2 percent in Illinois in May.
Jobs not in the farming industry increased by 62,200 jobs in May, based on preliminary data provided by the U.S. Bureau of Labor Statistics and released by the Illinois Department of Employment Security.
The April monthly change in payrolls was revised from the preliminary report from down 762,200 to down 738,600 jobs. The April unemployment rate was also revised from the preliminary report, from 16.4 percent to 17.2 percent, as a result of large monthly revisions to unemployed and employed in April, according to IDES.
The May payroll jobs estimate, and unemployment rate, reflects activity for the week including the 12th. The BLS has published
for the May payroll jobs and the unemployment rate.
The state’s unemployment rate was up 1.9 percentage points higher than the national unemployment rate reported for May, which was 13.3 percent, down 1.4 percentage points from the previous month, according to IDES.
The Illinois unemployment rate was up 11.1 percentage points from a year ago when it was 4.1 percent.
The three-month average Illinois payroll employment estimate was down 245,800 jobs during the March to May three-month period, compared to the February to April three-month period.
The largest average declines were found in Leisure and Hospitality, down 95,700 jobs, Trade, Transportation and Utilities went down 33,600 jobs and Educational and Health Services went down 30,000 jobs, according to IDES.
Compared to a year ago, non-farm payroll employment decreased by 737,900 jobs, with losses across nearly all major industries.
The industry groups with the largest jobs decreases were: Leisure and Hospitality dropped 285,200 jobs, Trade, Transportation and Utilities lost 102,100 jobs and Professional and Business Services declined 96,100 jobs.
Illinois non-farm payrolls were down 12.1 percent over-the-year as compared to the nation’s 11.7 percent over-the-year decline in May, according to IDES.
The number of unemployed workers fell sharply from the prior month, a 9.1 percent decrease to 955,100 but was up 261 percent over the same month for the prior year. The labor force was up 2.7 percent over-the-month and down 2.5 percent over-the-year, according to IDES.
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 maintains the state’s largest job search engine, Illinois Job Link, to help connect job seekers to employers who are hiring, which recently showed 192,804 posted resumes with 58,267 jobs available.