September 24, 2024 -The Illinois Department of Employment Security (IDES) announced that nonfarm payrolls were up +800 while the unemployment rate increased +0.1 percentage point to 5.3 percent in August, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS), and released by IDES.
The July monthly change in payrolls was revised from the preliminary report, from +12,900 to +10,300 jobs, while the revised unemployment rate was 5.2 percent, unchanged from the preliminary July unemployment rate. The August payroll jobs estimate and unemployment rate reflect activity for the week including the 12th.
In August, the industry sectors with the largest over-the-month job gains included: Trade, Transportation, and Utilities (+2,300), Construction (+2,200), and Financial Activities (+1,600). The industry sectors with the largest monthly payroll job declines included: Leisure and Hospitality (-2,900), Professional and Business Services (-1,600), and Other Services (-1,500).
The state’s unemployment rate was +1.1 percentage points higher than the national unemployment rate reported for August. The national unemployment rate was 4.2 percent in August, down -0.1 percentage point from the previous month. The Illinois unemployment rate was up +0.7 percentage point from a year ago when it was 4.6 percent.
Compared to a year ago, total nonfarm payroll jobs increased by +36,300 jobs. The industry groups with the largest jobs increases included: Government (+35,600), Private Education and Health Services (+26,100), and Other Services (+11,200). The industry groups with the largest jobs decreases included: Professional and Business Services (-27,800), Financial Activities (-5,400), and Information (-4,400). In August, total nonfarm payrolls were up +0.6 percent over-the-year in Illinois and up +1.5 percent in the nation.
