For Immediate Release | Greg Rivara, Media contact: (312) 793-9635 (pdf version)
October Unemployment Rate Falls to 8.9 Percent
CHICAGO - Illinois added 15,400 jobs in October after gaining 10,300 jobs in September and the October unemployment rate fell to 8.9 percent, according to seasonally adjusted data released today by the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (IDES). September and October job growth represents the largest two-month gain since May of 2010.
"Today's milestone is encouraging. It highlights the progress that has been made and underscores that there is much more to do," IDES Director Jay Rowell said. "Job growth in manufacturing and retail trade is encouraging. Manufacturing number shows continued growth in Illinois and retail trade growth anticipates shoppers willing to spend with the potential for additional hires in November."
The September and October reports are combined in Illinois and elsewhere as a result of the temporary federal government shutdown, which delayed the collection of data at the state and federal level.
Illinois has added +268,900 private sector jobs since January 2010 when job growth returned following nearly two years of consecutive monthly declines. Leading growth sectors are Professional and Business Services (+117,700); Education and Health Services (+57,700); and Trade, Transportation and Utilities (+51,600). Government has lost the most jobs since January 2010, down -27,300.
Since January 2010, when compared to the previous month, Illinois recorded job growth in 34 months and loss in 12. The unemployment rate fell in 26 months, increased in nine and was unchanged in 11.
The unemployment rate's three-month moving average, which smoothes monthly volatility, was unchanged at 9.1 percent in October. The number of unemployed individuals fell in October for the third consecutive month, down -12,600 (-2.1 percent) to 579,400. Total unemployment has fallen 172,800 (-23.0 percent) since early 2010 when the state unemployment rate peaked at 11.3 percent for the months of January and February.
The unemployment 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. Historically, the national unemployment rate is lower than the state rate. The state rate has been lower than the national rate only six times since January 2000.
- Illinois monthly labor force, unemployed and unemployment rates for years 2008-2012 have been revised as required by the U.S. Bureau of Labor Statistics. In February of each year, monthly labor force data for all states are revised to reflect updated sum-of-states controls, Census population controls, seasonal factors, non-farm jobs and unemployment insurance claims inputs. Data were also smoothed to eliminate large monthly changes as a result of volatility in the monthly household (CPS) survey. Comments and tables distributed in prior Illinois unemployment rate news release materials should be discarded because any analysis, including records, previously cited might no longer be valid.
- Seasonally adjusted employment data for subsectors within industries are not available. For not seasonally adjusted jobs data with greater industry detail, go to http://www.ides.illinois.gov/Custom/Library/Statistic/CES/I_NSA_CES_Illinois_MSAs_Jobs_2000_to_Current.XLS .
- "Other Services" includes a wide range of activities in three broad categories: Personal and laundry; repair and maintenance; and religious, grant making, civic and professional organizations.
- Monthly seasonally adjusted unemployment rates for Illinois and the Chicago-Naperville-Joliet Metropolitan Division are available at: http://www.ides.illinois.gov/page.aspx?item=2509 .