Illinois loses 27,600 jobs in January

Illinois started the New Year in the wrong direction, with businesses reporting a loss of 27,600 payroll jobs in January. The January loss makes two consecutive months of job losses. The unemployment rate declined from 8.9 percent to 8.7 percent. The number of payroll jobs today is the same as it was in November of...

Illinois started the New Year in the wrong direction, with businesses reporting a loss of 27,600 payroll jobs in January. The January loss makes two consecutive months of job losses. The unemployment rate declined from 8.9 percent to 8.7 percent.

The number of payroll jobs today is the same as it was in November of 1997. Payroll job numbers are derived from business establishment surveys, and count both full-time and part-time positions.

Job losses were heaviest in trade, transportation and utilities, professional and business services, and leisure and hospitality. Construction showed modest jobs growth.

The Illinois Department of Employment Security points out that the decline in the unemployment rate seems counterintuitive in a month of jobs losses. The number of unemployed Illinoisans decreased by 12,900.

The unemployment rate can go down even when there are job losses. This has happened in the past when unemployed workers leave the workforce, and no longer are counted as unemployed.