Illinois Labor Force Declines Fourth Straight Month

The Illinois Department of Employment Security has announced that the unemployment rate in August decreased 0.3%, to 5.5%, but non-farm payrolls decreased. The decrease in Illinois' unemployment rate is largely due, according to IDES, to a decline in the labor force.

Job growth is still below the national average, with Illinois 46,400 jobs short of its peak employment level reached in September 2000.

In August, the two industry sectors with the largest gains in employment were Leisure and Hospitality with 3,400 jobs, and Professional and Business Services with 2,000 jobs.

The three industry sectors with the largest over-the-year declines in August were Manufacturing with 4,400 jobs, Financial Activities with 2,600 jobs, and Education and Health Services with 1,900 jobs.

The Illinois jobless rate of 5.5% for August compares to the national rate of 4.9%.