Illinois’ preliminary jobs report shows the unemployment rate dropped to 5.8 percent in July due to large numbers of residents dropping out of the labor force for the third consecutive month.
By linking unemployment payments with the requirement to submit a résumé, the Illinois Department of Employment Security is trying to connect unemployed people with employers faster, helping job seekers find employment, and saving taxpayers money.
Monthly reports from the Bureau of Labor Statistics and the Illinois Department of Employment Security allow the public to see Illinois’ record for job creation and unemployment. Understanding the components of the reports, what they measure, and the significance of the data are key to assessing the state’s economic health.
Illinois has finally recovered from the job losses suffered during the Great Recession, and its workforce continues to grow. But the state’s unemployment rate is also increasing, signaling that while the economy is recovering, it is still unable to meet the demands of a growing number of job seekers.