66.1 F
Park Forest
Tuesday, May 17, 2022

IL Employers Boost Payrolls by +8,200 in May

CHICAGO–(ENEWSPF)–June 16, 2011.  As expected, the Illinois seasonally adjusted unemployment rate in May increased +0.2 points to 8.9 percent. The increase follows 15 months of declining unemployment rates and was expected because slight up-and-down movements in the rate and the number of jobs created naturally occur in an economic recovery, according to the Illinois Department of Employment Security.

The national unemployment rate also increased in May, up +0.1 point to 9.1 percent. The Illinois rate has been equal to or below the U.S. rate for eight consecutive months. Illinois’ three-month moving average remained at 8.8 percent in May, unchanged from April and its lowest average since March 2009.

“Illinois added more than 8,000 jobs in May, continuing the long-term trend of a healing economy and reflects successful efforts to grow jobs,” IDES Acting Director Jay Rowell said. “Just as we expected the unemployment rate would tick upward at times during our recovery, we know job-creation must continue and individuals should take advantage of the state’s workforce training network so they can improve their skills and be part of the economic growth.”

Illinois added +8,200 jobs in May. The three-month moving average of seasonally adjusted payroll employment shows +6,600 additional positions for March through May. The three-month context better depicts trends in the labor market by offsetting fluctuations in monthly payroll estimates. Since January 2010 when Illinois employment resumed after the national recession, Illinois has added +107,700 net new jobs. Leading sectors are Professional and Business Services (+39,900); Educational and Health Services (+28,100); Trade, Transportation and Utilities (+25,600); and Manufacturing (+19,900). That represents a 1.9 percent job growth, compared to the nation’s 1.4 percent.

In May, the number of unemployed individuals rose for the first time since January 2010, increasing +9,800 (+1.7 percent) to 585,000. Total unemployed has declined -155,100 (-21.0 percent) since January 2010 when the state unemployment rate peaked at 11.2 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.

The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

Seasonally Adjusted Unemployment Rates

 
May
2011
April
2011
May
2010
3-Month
Moving Avg.
Illinois
8.9%
8.7%
10.5%*
8.8%
U.S.
9.1%
9.0%
9.6%*
9.0%
* Revised

Source: illinois.gov

Recent Articles

Stay Connected

3,799FansLike
1,268FollowersFollow
566SubscribersSubscribe

- Local Advertisements -

Most Popular Articles

Park Forest
broken clouds
66.1 ° F
71.6 °
62.3 °
46 %
2.6mph
75 %
Tue
68 °
Wed
72 °
Thu
82 °
Fri
76 °
Sat
66 °

About Google Ads

The Google-supplied ads that appear on this website are not reviewed ahead of time and differ for each visitor. If anything offensive, inappropriate, or otherwise unwholesome appears, please notify us so we can take steps to block that specific advertiser. Email the URL or advertiser name to [email protected].