Madison County sees drop in Monthly Unemployment
By Josh Jones
Times Tribune Editor
[email protected]
Over-the-year, total nonfarm jobs increased in eight metropolitan areas, decreased in five and was unchanged in one for the year ending August 2024, according to data released Thursday by the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (DES).
According to an IDES news release, over-the-year, the unemployment rate decreased in nine areas, increased in four, and was unchanged in one.
“Stable, consistent job growth across the state continues to position jobseekers and employers to leverage new and developing opportunities,” said Deputy Governor Andy Manar. “IDES and its essential workforce partners are working throughout the state to offer critical employment services to enthusiastic jobseekers.”
Madison County saw its monthly unemployment rate drop from 5.5% in July to 4.6% in August. In August of 2023 the county’s unemployment rate was at 4.9%.
Metro East Highlights
The August 2024 unemployment rate for the Illinois Section of the St. Louis Metropolitan Statistical Area was 4.6%. The unemployment rate decreased 0.3 percentage point from the August 2023 rate of 4.9%. The data are not seasonally adjusted.
The labor force expanded by 459 participants between August 2023 and August 2024, from 344,354 to 344,813. During that time, the estimated number of employed residents increased by 1,452, from 327,456 to 328,908. There were 15,905 unemployed people in the region’s labor force in August 2024. The number of unemployed persons decreased by 993 compared to the 16,898 unemployed persons in August 2023.
Employers added 1,600 nonfarm payroll jobs in the year ending August 2024, when there were 241,600 positions.
Employers in the Leisure-Hospitality (+600), Mining-Construction (+500), Other Services (+300), Professional-Business Services (+200), Wholesale Trade (+200), Private Education-Health Services (+200) and Government (+100) sectors were estimated to have added payroll jobs year-over-year.
The number of jobs was unchanged among employers in the Transportation-Warehousing-Utilities, Information and Financial Activities sectors.
Employers in the Manufacturing (-300) and Retail Trade (-200) sectors shed payroll jobs between August 2023 and August 2024.
Illinois saw its unemployment drop from 6.2% in July to 5.5% in August. In August of 2023 the state’s unemployment rate was at 5.1%.
The country saw its unemployment rate drop from 4.5% in July to 4.4% in August. In August of 2023 the country’s unemployment rate was at 3.9%.
