The revised number, from the Illinois Department of Employment Security (IDES), indicates that Illinois’ private-sector economy may be in better shape than has been publicly reported. Preliminary figures previously reported by IDES showed a net loss of 16,700 jobs in December, but a revision to these numbers erased this job loss and indicates that Illinois actually gained 2,000 jobs in the same month.
The problems noted by analysts upon release of the initial December 2016 figures remain in place. In particular, the “Christmas sales season” in job-creating retail activity was affected once again this year by the migration of significant transaction volumes to the Internet.
Although the revised numbers show Illinois’ job market continuing to grow slowly, the Land of Lincoln continues to underperform most other U.S. states in terms of economic growth and activity. Illinois continues to have fewer jobs than it did at its peak unemployment level, reached in September 2000 prior to 9/11 and the collapse of the so-called “dot com” boom. Illinois added 1,700 jobs in January 2017, maintaining its unemployment rate of 5.7%.