May Unemployment falls to
7.5 percent and is lowest since November 2008
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[June 23, 2014]
CHICAGO – The Illinois
unemployment rate fell for the third consecutive month
to reach 7.5 percent in May and is at the lowest level
since November 2008, according to preliminary data
released today by the Bureau of Labor Statistics and the
Illinois Department of Employment Security. The data is
May marks nine consecutive months that the number of people working
has increased and the combined April-May reduction of 0.9 point in
the unemployment rate is the largest two-month drop since this data
series began 38 years ago in 1976.
“May brings us another month of encouraging data. More people are
working and the unemployment rate is falling,” IDES Director Jay
Rowell said. “May also reminds us that even as we continue to
improve and move forward, more needs to be done to bring this
progress to every doorstep.”
The unemployment rate is in line with other economic indicators.
First time jobless claims have been trending lower for the past four
years and in May were 25.5 percent lower than one year ago. Numbers
from the independent Conference Board’s Help Wanted OnLine Survey
show Illinois employers in May advertised for more than 203,000 jobs
(192,500 seasonally adjusted) and 85 percent sought full-time work.
Employers added +242,700 private sector jobs since job creation
returned to Illinois. Leading sectors are Professional and Business
Services (+105,000, +13.4 percent); Education and Health Services
(+59,000, +7.2 percent); and Leisure and Hospitality (+38,300, +7.5
percent). Government continues to lead job loss (-23,100, -2.7
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In May, the number of unemployed individuals fell -23,600 (-4.6
percent) to 492,400. Total unemployed has fallen -261,100 (-34.7
percent) since when the rate peaked at 11.4 percent. The rate fell
even though preliminary estimates indicated 2,600 fewer jobs in May
but 19,200 more jobs than one year ago. The unemployment rate and
job creation numbers can move independently of each other because
they come from different surveys.
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.
[Text received; ILLINOIS DEPARTMENT
OF EMPLOYEMENT SECURITY]
Seasonally Adjusted Unemployment Rates
Illinois Seasonally Adjusted Non-farm Jobs – by Major Industry
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
Seasonally adjusted employment data for subsectors within
industries are not available. For not seasonally adjusted jobs
data with greater industry detail, go to
“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
Monthly seasonally adjusted unemployment rates for Illinois and
the Chicago-Naperville-Joliet Metropolitan Division are