Illinois’ Unemployment Rate Rises to 5.2%

August 19, 2024

Illinois’ Unemployment Rate Rises to 5.2%

Illinois’ unemployment rate rose to 5.2% in July, according to data from the U.S. Bureau of Labor Statistics. The July reading is up from 5.0% in June. Illinois continues to have one of the highest unemployment rates in the country. Only one other state—Nevada at 5.4%—has a higher unemployment rate. Illinois’ unemployment rate of 5.2% compares unfavorably to its neighbors: Indiana (4.0%), Iowa (2.8%), Kentucky (4.7%), Missouri (3.8%), and Wisconsin (3.0%). The July unemployment numbers reinforce a report last month by the Illinois Commission on Government Forecasting and Accountability (CGFA) decrying “Illinois’ poor economic performance.” “Despite Illinois’ significant economic advantages, it continues to lag behind its neighbors,” said NFIB Illinois State Director Noah Finley. “Policy makers need to follow the data and address the underlying causes that are holding Illinois job creators back from creating jobs and investing in our communities.” NFIB recently released is 2024 Small Businesses Problems & Priorities Survey, identifying cost pressures, taxes, and economic uncertainty as top Main Street concerns.

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Uncategorized

State:

Illinois

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