November Unemployment falls to 6.4 percent

[December 19, 2014]  CHICAGO – Illinois employers added +2,300 jobs in November and the unemployment rate fell to 6.4 percent despite more people looking for work, 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 last time the rate was lower was June 2008 when it was 6.3 percent. It was 9 percent in November 2013.

“Key economic points in November show our economy continues to move forward. More people are working and re-energizing their job search and employers say they have vacancies to fill,” IDES Director Jay Rowell said. “We must continue to match the unemployed with current opportunities and identify the barriers that prevent workers from being hired.”

Employers added +298,700 private sector jobs since job creation returned to Illinois in February 2010. Leading sectors are Professional and Business Services (+127,200); Education and Health Services (+65,800); Trade, Transportation and Utilities (+42,900); and Leisure and Hospitality (+38,500). Government remains the job loss leader, shedding -24,700 positions during the same period.
 

November job growth was led by Manufacturing (+3,600); Construction (+2,100) and Leisure and Hospitality (+1,900). Retail Trade declined -8,700. In November, the number of unemployed individuals declined -7,900 (1.8 percent) to 421,000. Total unemployed has fallen -332,500 (-44.1 percent) since the unemployment rate peaked at 11.4 percent in January 2010. The labor force grew by +16,500 (0.3 percent) to 6,547,000.

Unemployment data are from a survey of households. Jobs data are from a survey of employers.

Other economic indicators show labor market improvement. The independent Conference Board’s Help Wanted OnLine Index reports that Illinois employers advertised for 214,000 jobs in November and 85 percent sought full-time work. Employers consistently have advertised for more than 200,000 positions each month in 2014.

To apply for these jobs, go to Illinoisjoblink.com, the state’s help wanted internet job board managed by IDES. Illinoisjoblink.com features Resume Builder and Resunate. Resume Builder provides step-by-step instructions to create an effective resume which is immediately matched to existing help wanted ads seeking those skills. Resunate scores the resume against a specific help wanted ad and offers suggestions to improve the resume before applying for the job.

The unemployment rate identifies those who are out of work and seeking employment and is not tied to collecting unemployment insurance benefits. 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.

[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/CurrentEmploymentStatstics/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/Illnois_Chicago_Metropolitan_Area_Unemployment_Rates.aspx