FOR RELEASE:
November 16, 2023
CONTACT:
Rebecca Cisco
217.524.1219
SPRINGFIELD – The Illinois Department of Employment Security (IDES) announced today that the unemployment rate increased +0.2 percentage point to 4.6 percent, while nonfarm payrolls decreased -15,000 in October, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), and released by IDES. The September revised unemployment rate was 4.4 percent, unchanged from the preliminary September unemployment rate. The September monthly change in payrolls was revised from the preliminary report, from +9,500 to +11,400 jobs. The October unemployment rate and payroll jobs estimate reflect activity for the week including the 12th.
In October, the industry sectors with the largest monthly payroll job declines included: Professional and Business Services (-6,700), Manufacturing (-5,300), Financial Activities (-2,900), and Educational and Health Services (-2,900). The industry sectors with the largest over-the-month job gains included: Government (+4,200), Leisure and Hospitality (+1,500), and Construction (+700).
“The State of Illinois continues to prioritize jobseekers, employees and employers by providing a multitude of resources, services and opportunities,” said DCEO Director Kristin Richards. “DCEO remains committed to supporting Illinois’ world-class workforce while bolstering economic development throughout the state.”
The state’s unemployment rate was +0.7 percentage point higher than the national unemployment rate reported for October. The national unemployment rate was 3.9 percent in October, up +0.1 percentage point from the previous month. The Illinois unemployment rate was unchanged from a year ago when it was also 4.6 percent.
Compared to a year ago, nonfarm payroll jobs increased by +65,300 jobs, with gains across most major industries. The industry groups with the largest jobs increases included: Educational and Health Services (+34,900), Government (+28,200), and Leisure and Hospitality (+25,200). Professional and Business Services (-16,900), Manufacturing (-12,000), and Information (-6,200) reported the largest declines in payroll jobs. In October, total nonfarm payrolls were up +1.1 percent over-the-year in Illinois and up +1.9 percent in the nation.
The number of unemployed workers was 296,600, up +5.0 percent from the prior month, and down -1.1 percent over the same month one year ago. The labor force was up +0.1 percent over-the-month and down -0.1 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 June 2020, Governor Pritzker launched Get Hired Illinois, a 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 54,258 posted resumes with 109,141 available jobs.
Seasonally Adjusted Unemployment Rates
Illinois Seasonally Adjusted Nonfarm Jobs – by Major Industry
About the Department of Employment Security
The Illinois Department of Employment Security (IDES) provides vital employment services to Illinois workers, jobseekers, and employers with resources including Job Fairs, IllinoisJobLink.com, and WorkShare IL, analyzes and disseminates actionable Labor Market Information, and administers the Unemployment Insurance Program. To see the full range of services provided by IDES, and for the latest news concerning the department, visit IDES.Illinois.gov.
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