SPRINGFIELD – The Illinois Department of Employment Security (IDES) announced Thursday that the unemployment rate fell 0.2 percentage point to 6.0 percent, while nonfarm payrolls increased by 40,900 in October, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES.
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, as a result of a large downward revision that the BLS introduced to September statewide unemployed.
The October payroll jobs estimate and unemployment rate reflects activity for the week including the 12th. 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).
“(Thursday’s) data are positive markers indicating a continued recovery to our economy and labor market,” said Deputy Governor Andy Manar. “IDES continues to work with employers and jobseekers to assist matching businesses with those looking to reenter the workforce or make career changes. Both employers and jobseekers are encouraged to take advantage of Get Hired Illinois to search for available jobs and workers in their area.”
“Under Governor Pritzker’s leadership, Illinois is on the path to recovery and is bringing back Illinois consumers and industries safely,” said DCEO Acting Director Sylvia Garcia. “Monthly labor reports continue to prove that our administration’s investments to stimulate small businesses, deliver workforce development grants and jumpstart community and capital development projects across our state are paying dividends. Building on a strong national jobs report last month, Illinois is seeing our own impressive growth with nearly 41,000 jobs added statewide in October alone.”
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 0.2 percentage point 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. The number of unemployed workers was down from the prior month, a 3.4 percent decrease to 370,400, and was down 27.7 percent over the same month for one year ago.
The labor force was up 0.1 percent over-the-month and was down -1.6 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.
In May 2020, Governor Pritzker launched Get Hired Illinois, a new one-stop-shop website to help connect job seekers with hiring employers in real time.
The site features virtual job fairs, no-cost virtual training, and includes IllinoisJobLink.com (IJL), the state’s largest job search engine, which recently showed 51,412 posted resumes with 162,087 available jobs.