The Illinois Department of Employment Security announced today (Thursday, June 18, 2020) that the unemployment rate fell 2.0 percentage points to 15.2%, while nonfarm payrolls added 62,200 jobs in May, based on preliminary data provided by the U.S. Bureau of Labor Statistics and released by IDES.
The May payroll jobs estimate, and unemployment rate, reflects activity for the week including the 12th. The BLS has published FAQs for the May payroll jobs and the unemployment rate.
The state’s unemployment rate was 1.9 percentage points higher than the national unemployment rate reported for May, which was 13.3%, down 1.4 percentage points from the previous month. The Illinois unemployment rate was up 11.1 percentage points from a year ago when it was 4.1 percent.
The three-month average Illinois payroll employment estimate was down 245,800 jobs during the March to May three-month period, compared to the February to April three-month period. The largest average declines were found in Leisure and Hospitality (-95,700), Trade, Transportation and Utilities (-33,600) and Educational and Health Services (-30,000).
“As we continue to grapple with the unprecedented impact of the COVID-19 pandemic, we remain committed to safely reopening the state to begin economic recovery,” said Deputy Gov. Dan Hynes. “We remain focused on providing working families and small businesses the tools necessary for recovery as we move through each phase of the Restore Illinois plan.”
Compared to a year ago, nonfarm payroll employment decreased by 737,900 jobs, with losses across nearly all major industries.
The industry groups with the largest jobs decreases were: Leisure and Hospitality (-285,200), Trade, Transportation and Utilities (-102,100) and Professional and Business Services (-96,100). Illinois nonfarm payrolls were down -12.1 percent over-the-year as compared to the nation’s -11.7 percent over-the-year decline in May.
The number of unemployed workers fell sharply from the prior month, a 9.1% decrease to 955,100 but was up 261% over the same month for the prior year. The labor force was up 2.7% over-the-month and down 2.5% over-the-year.
The unemployment rate identifies those individuals who are out of work and seeking employment. An individual who exhausts or is ineligible for benefits is still reflected in the unemployment rate if they actively seek work.
IDES maintains the state’s largest job search engine, Illinois Job Link, to help connect jobseekers to employers who are hiring, which recently showed 192,804 posted resumes with 58,267 jobs available.
SOURCE: Illinois Department of Employment Security news release