Illinois Unemployment Rate Drops to 4.7 Percent in August

The Illinois Department of Employment Security (IDES) released data showing that the unemployment rate in August was 4.7 percent, down from July's revised rate of 4.9 percent. This represents a decrease of -0.2 percentage points from the previous month.

Compared to the same time last year, the unemployment rate has increased by +0.4 percentage points. Total nonfarm payrolls in Illinois decreased by -4,400 jobs over the month, resulting in a total of 6,175,600 jobs.

The industry sectors with the largest monthly payroll job increases were Leisure and Hospitality (+1,800), Construction (+1,500), and Professional and Business Services (+1,000). In contrast, Private Education and Health Services (-6,100), Financial Activities (-1,700), and Trade, Transportation and Utilities (-1,000) experienced significant decreases.

Over the past year, total nonfarm payroll jobs in Illinois have increased by +15,000. Construction (+13,400), Private Education and Health Services (+9,600), and Other Services (+4,000) saw notable growth, while Financial Activities (-15,800), Information (-2,900), and Trade, Transportation and Utilities (-700) experienced significant declines.

Deputy Governor Andy Manar stated that Illinois continues to add jobs over the year but faces uncertainty due to federal government policies. DCEO Director Kristin Richards emphasized the importance of workforce programming and supporting key sectors affected by inconsistent trade policies.