Illinois employment growth lags the nation and neighboring states in May.
By Ravi Mishra and Jon Josko | Illinois Policy Institute
Illinois’ unemployment rate tied for third-worst in the U.S. in May 2024, with 4.9% of the state’s workforce unemployed, according to new data from the U.S. Bureau of Labor Statistics.
Illinois’ unemployment rate continued to exceed the national average of 4% in May. It was higher than all neighboring state.
Illinois saw modest job growth in May 2024, adding 43,900 jobs compared to May 2023. However, this growth rate ranked Illinois 44th among all states for non-farm job growth at 0.7%. Nationwide, states added 2.7 million jobs during that time, growing at 1.8% in the same period.
Illinois saw the highest growth rates in “other services” adding 9,800 jobs, a 3.9% increase. The state and local government sectors also saw significant gains with jobs growing at 3.7% each. Meanwhile, the professional and business sector saw the largest net decline during the 12-month period, reporting 24,800 fewer positions than a year earlier.
Illinois saw modest gains in 6 out of 11 industries, not including government, the state only outperformed its neighbors in 2 sectors.
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