Job numbers are on the rise in Illinois, but not every Chicagoan should break out the champagne yet. According to a recent report from the Illinois Department of Employment Security (IDES), the state has seen a small uptick in its unemployment rate, climbing 0.1 percentage point to 4.8 percent in February. Despite this, nonfarm payroll positions saw a decent jump with an increase of 23,100 jobs within the month, an indicator that could point to a diverse and durable local economy.
When we drill down into the specifics, the biggest boost came from Government jobs which shot up by 6,700 while Construction and Leisure & Hospitality also witnessed robust gains at 6,200 and 5,400 jobs respectively; however, not all sectors were popping cork with Trade, Transportation and Utilities; Manufacturing and Financial Activities experiencing the sting of job cuts totaling 4,200. "Job growth throughout the state across industry sectors is a testament to the strength and stability of the diverse Illinois workforce," Deputy Governor Andy Manar told IDES, a sentiment that underscores a belief in the resilience and adaptability of the state's labor market.
But let’s not ignore the bigger picture. IDES data points out that Illinois' unemployment rate is still lagging behind the national average, which stood at 3.9 percent for February, signaling that while job growth is, yes, indeed something to be cheery about, there's still work to be done. Statewide investments in workforce development, as highlighted by Manar, could potentially pave the way for more equitable employment scenarios down the line.
Paying attention to the year-over-year comparisons, the state’s job market has been somewhat turbulent with nonfarm payroll jobs increasing by 13,500 but also with notable dips in sectors like Professional and Business Services which has lost a considerable 37,700 positions; this moment thus calls for some introspection and targeted action to ensure jobseekers aren’t left out in the cold, looking in at an economy they cannot access. “As Illinois' payroll jobs continue to grow, [the Department of Commerce and Economic Opportunity] is committed to building upon that momentum, while ensuring jobseekers have the tools, resources, and support they need to be successful," said DCEO Director Kristin Richards, according to IDES.
Meanwhile, for those pounding the pavement and looking to get a foot in the door, Get Hired Illinois continues to offer a lifeline. Launched in June 2020 by Governor Pritzker, this initiative aims to mesh job seekers with potential employers, sporting features such as virtual job fairs and no-cost virtual training. The state’s largest job search engine, IllinoisJobLink.com, currently boasts upwards of 58,380 resumes with a hopeful 91,620 jobs ready for the taking.
