Illinois October Jobless Rate at 6%

The Illinois Department of Employment Security (IDES) announced that the unemployment rate fell two-tenths of a percent to 6%, while nonfarm payrolls increased by +40,900 in October. The preliminary report for September monthly payrolls was revised from +9,200 to +11,000 jobs. The September unemployment rate was also revised from the preliminary report, decreasing from 6.8 percent to 6.2 percent.

In October, the three industry sectors with the largest over-the-month gains in employment were: Professional and Business Services (+17,700), Leisure and Hospitality (+8,400) and Trade, Transportation and Utilities (+7,700). The industry sectors that reported the monthly payroll declines were: Information (-1,500) and Educational and Health Services (-500). 

The state’s unemployment rate was +1.4 percentage points higher than the national unemployment rate reported for October, which was 4.6 percent, down from the previous month. The Illinois unemployment rate was down 2.1 percentage points from a year ago when it was at 8.1 percent.

Compared to a year ago, nonfarm payroll employment increased by +190,300 jobs, with gains across nearly all major industries. The industry groups with the largest jobs increases were: Leisure and Hospitality (+60,800), Professional and Business Services (+50,000), and Trade, Transportation and Utilities (+37,200).  Financial Activities (-5,200) was the only industry group that reported jobs losses. In October, total nonfarm payrolls were up +3.4 percent over-the-year in Illinois and +4.1 percent in the nation.