Illinois’ overall economic trends show the state is undeniably struggling to compete with its neighbors by clinging to policies that are driving businesses out of the state.
CHICAGO (March 10, 2016) – Today, the Illinois Department of Employment Security released a report with preliminary numbers for Illinois’ jobs growth in January. According to the report, Illinois experienced weak jobs growth in January by adding 1,500 jobs in total. Also included in today’s report was revised data showing Illinois’ economy added significantly more jobs in 2015 than initial Bureau of Labor Statistics, or BLS, estimates had indicated. However, despite revised numbers showing more jobs growth in Illinois than originally reported, the state’s manufacturing sector still lost more than 6,000 jobs in 2015.
Illinois’ unemployment rate increased to 6.3 percent in January, up from 6.1 percent in December 2015. This increase is largely due to more people entering the workforce but being unable to find jobs. On Monday, March 14, the BLS will release its complete economic report for the month of January for Illinois and surrounding states.
“Today’s report shows slight growth for the state’s economy. But Illinois’ overall economic trends show the state is undeniably struggling to compete with its neighbors by clinging to policies that are driving businesses out of the state. The fact that more people are entering the workforce is a signal that Illinoisans are beginning to have faith in the state economy again. However, too many people are entering a state workforce only to find too few opportunities available. For significant jobs growth in Illinois, and especially for significant jobs growth in the manufacturing sector, Illinois politicians need to enact the economic reforms that will allow businesses to grow in the state.”
Key data from today’s release include:
- Illinois gained 1,500 total jobs in January.
- The following industry sectors had the biggest gains:
- Trade and transportation added 3,600 jobs.
- Education and health services added 3,200 jobs.
- Leisure and hospitality added 700 jobs.
- The following industry sectors had the biggest losses:
- Government lost 2,600 jobs.
- Other services lost 2,100 jobs.
- Financial activities lost 1,700 jobs.
- Illinois’ unemployment increased to 6.3 percent for January, up from 6.1 percent in December 2015.
- The increase in the state’s unemployment rate reflects the growth of Illinois’ workforce, but that growth included 12,000 more unemployed people.
- Illinois’ workforce grew by 32,000 people; the state added 12,000 people to the unemployment rolls in January.
- Illinois has suffered an increase in the number of unemployed people for six consecutive months.
The Illinois Policy Institute is a nonpartisan research and education organization. Our vision is to make Illinois first in economic outlook and job creation, and for Illinois to become a free-enterprise leader for the rest of America. As a leading independent research and education organization, the Institute generates positive and sustainable policy solutions for citizens and lawmakers that help unleash talent and entrepreneurial ability. To learn more about the Institute or review our policy work, please visit:www.illinoispolicy.org.