Illinois Adds 140,700 Private Sector Jobs since Recovery Manufacturing payrolls grow by 19,600 in six months
Illinois added +4,700 private-sector jobs in June and the unemployment rate inched upward 0.1 to 8.7 percent, according to preliminary data released today by the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security (IDES). The data is seasonally adjusted. When subtracting government job cuts, Illinois added a net of +800 jobs for the month.
“Private-sector job growth continues to push the Illinois economy forward through this uneven recovery,” IDES Director Jay Rowell said. “The slight increase in the unemployment rate was expected and follows the path of the nation. The long-term growth trend will be influenced by consumer confidence as it responds to the economic fortunes in Europe and China as well as the path Congress pursues to avoid automatic spending cuts and tax increases, often referred to as the fiscal cliff.”
Private-sector job growth was fueled by gains in Leisure and Hospitality; Professional and Business Services; and Manufacturing. Manufacturing growth accelerated rapidly in 2012 compared with 2011 gains. Over the year, manufacturing employment is up 21,700.
Illinois added +140,700 private sector jobs since January 2010 when job growth returned to Illinois following nearly two consecutive years of monthly declines. Since January 2010, leading growth sectors are Professional and Business Services (+74,600); Manufacturing (+42,900); and Educational and Health Services (+31,800). Government has lost the most jobs since January 2010, down -27,500.
Historically, the national unemployment rate is lower than the state rate. Only six times since January 2000 has the Illinois rate been lower than the national rate.
In June 2012, the number of unemployed individuals increased +7,900 (+1.4 percent) to 572,200, the first increase after nine monthly declines. Total unemployed has declined -180,600 (-24.0 percent) since January 2010 when the state unemployment rate peaked at 11.4 percent. The 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 more than 45 offices, including Illinois workNet centers.