The unemployment rate in Illinois continues to decline.
The Illinois Department of Employment Security (IDES) announced Thursday that the unemployment rate decreased by .1% to 4.3% in May and nonfarm payrolls increased by 8,600 jobs over-the-month, based on preliminary data provided by the U.S. Bureau of Labor Statistics (BLS).
The April job gain was revised down slightly from its initial report to show a smaller gain.
Job growth stabilized in the March to May period, posting average monthly gains of 4,600 jobs over the three month period.
“Through the first five months of the year, jobs are growing faster than each of the past two years,” says IDES Director Jeff Mays. “More than half of the year-to-date gain of nearly 28,000 jobs is coming from those sectors with higher-than-average wages.”
“Since Governor Rauner took office, Illinois has added 192,700 jobs and the unemployment rate has fallen 1.7 points,” said Illinois Department of Commerce Director Sean McCarthy. “We’re seeing increases in job creation, retention, and investment due to the implementation of a pro-business climate. Our work certainly continues as we look to build upon these results to generate opportunity and success for all Illinoisans.”
In May, the three industry sectors with the largest gains in employment were Education and Health Services, Government, and Financial Activities. The industry sectors with the largest payroll declines were Information Services and Leisure and Hospitality.