March 27, 2023 – The Illinois Department of Employment Security announced that the unemployment rate was unchanged at 4.5 percent, while nonfarm payrolls increased by +10,700 in February, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS) and released by IDES.
The January monthly change in payrolls was revised from the preliminary report, from +14,300 to +12,300 jobs. The January revised unemployment rate was 4.5 percent, unchanged from the preliminary January unemployment rate. The February payroll jobs estimate and unemployment rate reflect activity for the week including the 12th.
In February, the industry sectors with the largest over-the-month gains in employment included: Government (+5,900), Leisure and Hospitality (+5,100), and Trade, Transportation and Utilities (+2,700). The industry sectors with the largest monthly payroll declines included: Professional and Business Services (-3,000), Information (-3,000), and Construction (-1,100).
“Further gains in payroll jobs across industry sectors throughout the state continue to strengthen the Illinois labor market and positively fuel the state’s recovery,” said Deputy Governor Andy Manar. “As more jobs are added to the economy and more opportunities are created for Illinois workers, IDES remains a critical resource to jobseekers looking for their next career and to employers looking to bolster their workforce with Illinois talent.”
“Job growth across nearly all sectors reflects the strength of Illinois’ economy,” said DCEO Director Kristin A. Richards. “Looking ahead, DCEO remains committed to providing workforce resources for employers and workers – strengthening communities and our employment landscape.”
The state’s unemployment rate was +0.9 percentage point higher than the national unemployment rate reported for February, which was 3.6 percent, up +0.2 percentage point from the previous month. The Illinois unemployment rate was down -0.1 percentage point from a year ago when it was at 4.6 percent.
Compared to a year ago, nonfarm payroll employment increased by +144,900 jobs, with gains across nearly all major industries. The industry groups with the largest jobs increases included: Leisure and Hospitality (+43,900), Educational and Health Services (+38,800), and Government (+22,000). Information was the only industry group to report a decline in payroll jobs, down -2,500 from a year ago. In January, total nonfarm payrolls were up +2.4 percent over-the-year in Illinois and up +2.9 percent in the nation.
The number of unemployed workers was 289,900, down -1.5 percent from the prior month, and -3.8 percent over the same month one year ago. The labor force was up +0.1 percent over-the-month and down -0.2 percent 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.
