(KFVS) - The Illinois Department of Employment Security announced on Nov. 16 that the unemployment rate dropped by 0.1 percentage points to 4.9 percent in October.
Payrolls increased by +3,400 jobs during the month, based on preliminary data provided by the U.S. Bureau of Labor Statistics and IDES.
October's monthly payroll drop kept the year's job growth well below the national average.
"Month-to-month changes sometimes obscure important trends," says IDES Director Jeff Mays. "Illinois' unemployment rate remained at 5.0 percent or lower for eight months. The last time that happened was in mid-2007."
The unemployment rate identifies those individuals who are out of work and are seeking employment.