The Illinois Department of Employment Security, in their latest briefing, noted a slight decrease in nonfarm payrolls in November, with a total decline of 3,400 jobs but the unemployment rate held steady at 5.3 percent. This figure comes from preliminary data provided by the U.S. Bureau of Labor Statistics and made public by IDES. The job market fluctuations come after October's payroll changes were revised to reflect a positive adjustment from -2,400 to +8,400 jobs.
November's job market saw several sectors experiencing declines, including Construction which shed 2,700 positions, and Professional and Business Services down by 2,400 jobs. Manufacturing and Trade, Transportation, and Utilities each saw a reduction of 1,400 jobs, according to the IDES report. On the flip side, some industries did see growth, with Leisure and Hospitality adding 2,000 jobs,, Other Services increasing by 1,100 positions, and Private Education and Health Services expanding by 1,000 jobs.
Deputy Governor Andy Manar remains optimistic about the state's dedication towards fostering job growth and workforce development. Despite the varied sector performances, he stated, "Illinois remains committed and focused on investing in continued workforce development, job expansion, and engaging both jobseekers and employers." Manar emphasizes IDES's role in the labor market, serving as a bridge connecting job seekers with employers.
Similarly, DCEO Director Kristin Richards expressed commitment to positioning Illinois as a hub for employment and economic opportunity. "DCEO is committed to ensuring Illinois remains an epicenter for employment and economic opportunity," Richards said in the statement. She alluded to the state's efforts, in collaboration with IDES and local agencies, to nurture sectors that can create good-paying jobs for residents.
When compared to the national unemployment rate of 4.2 percent, Illinois' rate was 1.1 percentage points higher in November. Over the last year, Illinois' unemployment rate has risen by 0.6 percentage points from 4.7 percent. In terms of yearly growth, state payrolls have increased by 42,600 jobs, with the Government, Private Education, Health Services, and Other Services leading the gains. However, Professional and Business Services, Financial Activities, and Manufacturing recorded the most significant job losses over the same period.
Despite the mixed job market performance, Illinois' labor force has seen slight over-the-month growth, registering a 0.1 percent increase and a 1.2 percent uptick over the year. The number of unemployed individuals remained static month-over-month but showed a 13.1 percent rise from the previous year. To assist Illinoisans navigating this terrain, IDES maintains the Illinois JobLink, a significant resource for job search with tens of thousands of job listings and available resumes, facilitating an ongoing effort to improve employment prospects for the state's workforce.
