IL unemployment rate matches record low

IL unemployment rate matches record low
The Illinois Department of Employment Security (IDES) announced on Septmeber 20 that the unemployment rate fell to 4.1 percent in August, matching the lowest on record. (Source: Pixabay.com)

CHICAGO, IL (KFVS) - The Illinois Department of Employment Security (IDES) announced on Septmeber 20 that the unemployment rate fell to 4.1 percent in August, matching the lowest on record.

“Illinois’ unemployment rate stood at 4.1% in August, matching the lowest rate on record,” said IDES Director Jeff Mays. “Even with the over-the-month drop, nonfarm payrolls have surpassed the prior business cycle peak of September 2000. Jobs are still up more than 47,000 over the year, led by manufacturing.”

“The positive job growth over the last year indicates that efforts to improve the Illinois economy and actively recruit new investment are paying off,” said Illinois Department of Commerce Director Sean McCarthy. “Illinois is seeing the best employment environment since 1999, demonstrating that companies can see the potential to grow in our state.”

In August, the three industry sectors with the largest over-the-month gains in employment were: Professional and Business Services (+900); Trade, Transportation and Utilities (+400); and Financial Activities.

Copyright 2018 KFVS. All rights reserved.