CHICAGO (Oct. 16, 2015) – The Illinois Department of Employment Security, a state agency that tracks labor force statistics, is expected to release preliminary unemployment and economic performance figures later today. IDES will release the state’s unemployment rate and jobs creation by industry, but today’s data set will offer only a cursory overview of how Illinois’ growth compares with other states. A full economic profile of Illinois is scheduled for release by the federal Bureau of Labor Statistics on Tuesday.

Economic experts with the nonpartisan Illinois Policy Institute will be available to comment on today’s and Tuesday’s report. The Institute’s economic analysts have been tracking the state’s economic performance closely.

BACKGROUND:

Illinois has added the least number of payroll jobs of any bordering state so far in 2015. The state’s manufacturing industry has suffered the brunt of Illinois’ slow growth; nearly 10,000 manufacturing jobs have been lost so far in 2015. Meanwhile, most other Midwest states have added manufacturing jobs over that same timeframe.

Key economic statistics:

• To date, Illinois has added only 13,400 jobs in 2015. By comparison, Wisconsin has added 26,600 jobs this year; Indiana has added 44,900 jobs and Michigan has added 62,600 jobs.

• Despite growing jobs overall, Illinois has continually lost manufacturing jobs – a critical marker of a state’s middle-class economic health. In 2015 alone:
  • Illinois lost 9,800 manufacturing jobs
  • Wisconsin gained 3,200 manufacturing jobs
  • Indiana gained 5,400 manufacturing jobs
  • Ohio gained 9,600 manufacturing jobs
  • Michigan gained 13,200 manufacturing jobs

• Illinois’ unemployment rate fell to 5.6 percent in August. However, many Illinoisans have also given up looking for work due to the sluggish economy, 23,000 Illinoisans have dropped out of the workforce in 2015 to date.

• Illinois’ sluggish economy has greatly impacted the state budget. As migration data from the IRS shows, taxpayers are moving out of Illinois and taxable income is being lost to other states. In 2013, Illinois lost 81,000 residents and $4.1 billion in taxable income to other states.

Full details on Illinois’ 2015 economic performance is available here: https://www.illinoispolicy.org/illinois-lackluster-2015-jobs-story-2/

For bookings or interviews: Nathaniel Hamilton (312) 346-5700 x202