June rate falls to 7.1 percent as state adds 6,000 jobs
Lowest rate since October 2008

[July 28, 2014]  CHICAGO – The Illinois unemployment rate fell in June for the fourth consecutive month to reach 7.1 percent while employers created 6,000 jobs, according to preliminary data released today by the Bureau of Labor Statistics and the Illinois Department of Employment Security. The data is seasonally adjusted.

The combined April-June reduction of 1.3 points in the unemployment rate is the largest three-month drop since this data series began in 1976. The last time the rate was lower was October 2008 when it was 7.0 percent.

“Today’s numbers remind us that as our economy improves, more still needs to be done.” IDES Director Jay Rowell said. “We need to continue to create job-training opportunities for the unemployed and underemployed so they can share in our growing economy.”

The significant drop in the unemployment rate so far this year reflects Illinois’ historical role of following the nation into and out of economic cycles. This pattern generally is expected to continue until global demand lifts Illinois’ manufacturing sector, which in turn would help housing and the construction industry.

The unemployment rate also is in line with other economic indicators. First time jobless claims have been trending lower for the past four years and in June were 6 percent lower than one year ago. First time claims in June also were at the lowest monthly level since 2007. Numbers from the independent Conference Board’s Help Wanted OnLine Survey show Illinois employers in June advertised for more than 212,800 jobs (203,500 seasonally adjusted) and 86 percent sought full-time work.

Employers added +250,900 private sector jobs since job creation returned to Illinois. Leading sectors are Professional and Business Services (+107,900, +13.8 percent); Education and Health Services (+59,100, +7.2 percent); Trade, Transportation and Utilities (+44,700, +4.0 percent); and Leisure and Hospitality (+34,600, +6.8 percent). Government continues to lead job loss (-22,100, -2.6 percent.)

In June, the number of unemployed individuals fell -30,600 (-6.2 percent) to 461,700. Total unemployed has fallen -291,800 (-38.7 percent) since the rate peaked at 11.4 percent.

The unemployment rate identifies those who are out of work and seeking employment. A person who exhausts benefits, or is ineligible, still will be reflected in the unemployment rate if they actively seek work. Historically, the national unemployment rate is lower than the state rate. The state rate has been lower than the national rate only six times since January 2000. This includes periods of economic expansion and contraction.

[Text received; ILLINOIS DEPARTMENT OF EMPLOYMENT SECURITY]

Seasonally Adjusted Unemployment Rates

 Illinois Seasonally Adjusted Non-farm Jobs – by Major Industry

Notes:

·         Illinois monthly labor force, unemployed and unemployment rates for years 2009-2013 have been revised as required by the U.S. Bureau of Labor Statistics. In February of each year, monthly labor force data for all states are revised to reflect updated sum-of-states controls, Census population controls, seasonal factors, non-farm jobs and unemployment insurance claims inputs. Data were also smoothed to eliminate large monthly changes as a result of volatility in the monthly household (CPS) survey. Comments and tables distributed in prior Illinois unemployment rate news release materials should be discarded because any analysis, including records, previously cited might no longer be valid.

·         Seasonally adjusted employment data for subsectors within industries are not available.  For not seasonally adjusted jobs data with greater industry detail, go to http://www.ides.illinois.gov/LMI/CurrentEmploymentStatistics/I_SA_CES_Illinois_Jobs_2000_to_Current.xls “Other Services” includes a wide range of activities in three broad categories: Personal and laundry; repair and maintenance; and religious, grant making, civic and professional organizations.

·         Monthly seasonally adjusted unemployment rates for Illinois and the Chicago-Naperville-Joliet Metropolitan Division are available at: http://www.ides.illinois.gov/LMI/Pages/Illinois_Chicago_Metropolitan_Area_Unemployment_Rates.aspx