Illinois only added 3,600 jobs in October, a drastic drop in job growth coming amid persistent inflation and rising recession fears. Unemployment led the nation.
Illinois’ unemployment rate ticked up one-tenth of a percent to 4.6% in October, the highest in the nation for a second month and nearly a percentage point higher than the national rate of 3.7%
Illinois added just 3,600 jobs in October, significantly fewer than in September and the fewest jobs added during 2022. Job growth continued for the 17th consecutive month.
Leading the month’s job growth was the trade, transportation and utilities sector with 2,800 jobs added; leisure and hospitality added 2,300 jobs; both professional and business services along with manufacturing added 1,800 jobs each; the educational and health sector added 1,100 jobs; construction and other services gained 900 and 800 jobs, respectively; while financial activities added 300 jobs for the month.
. The main driver of the state’s lackluster job growth for October was the government sector, as it saw a monthly decline of 8,100 jobs. The information sector was the only other sector to lose jobs, declining by 100 for the month.
Mining payrolls remained unchanged for the seventh consecutive month.
Despite nearly a year and a half of sustained job growth, Illinois’ unemployment rate remains the highest in the nation, tied with Nevada. The state tends to struggle to recover from economic downturns compared to the rest of the nation, as it did after the Great Recession.
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This is just fine with Illinois voters per Nov 8 results.