Illinois Jobless Rate Up Slightly in August


Published on September 18 2023 12:59 pm
Last Updated on September 18 2023 1:00 pm

The Illinois Department of Employment Security (IDES) announced that the unemployment rate in the state increased 0.1 percentage point to 4.1 percent, while nonfarm payrolls were almost unchanged, down 100, in August, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES.
August total nonfarm payrolls remained above the pre-pandemic number of total nonfarm payroll jobs. The July revised unemployment rate was 4.0 percent, unchanged from the preliminary July unemployment rate. The July monthly change in payrolls was revised from the preliminary report, from 11,200 to 3,400 jobs. The August unemployment rate and payroll jobs estimate reflect activity for the week including the 12th.
In August, the industry sectors with the largest over-the-month job gains included: Educational and Health Services (+4,400), Leisure and Hospitality (+800), and Manufacturing (+400). The industry sectors with the largest monthly payroll job declines included: Professional and Business Services (-3,300), Trade, Transportation and Utilities (-1,100), and Other Services (-700).
The state’s unemployment rate was +0.3 percentage point higher than the national unemployment rate reported for August. The national unemployment rate was 3.8 percent in August, up +0.3 percentage point from the previous month. The Illinois unemployment rate was down -0.4 percentage point from a year ago when it was at 4.5 percent.
Compared to a year ago, nonfarm payroll jobs increased by +75,600 jobs, with gains across most major industries. The industry groups with the largest jobs increases included: Educational and Health Services (+39,900), Government (+28,400), and Leisure and Hospitality (+25,200). Professional and Business Services (-15,300), Manufacturing (-9,400), and Information (-5,200) reported the largest declines in payroll jobs. In August, total nonfarm payrolls were up +1.2 percent over-the-year in Illinois and up +2.0 percent in the nation.
The number of unemployed workers was 266,200, up +4.4 percent from the prior month, and down -8.0 percent over the same month one year ago. The labor force was almost unchanged (0.0 percent) over-the-month and down -0.2 percent over-the-year.