Illinois Unemployment Insurance Status Report
Attached is a report released today by the Illinois Department of Employment Security. It provides an excellent progress report on the improvement of the Agency under the leadership of Director Jeff Mays and Governor Rauner. Here are a few highlights from the Report:
Since January 2015, Illinois has added nearly 213,000 workers and the unemployment rate has dropped from 6% to 4.2%.
The Illinois Unemployment Insurance Trust Fund balance is $1.7 billion stronger than it was in January 2015.
Employer UI taxes in 2018 are estimated to be $ 720 million lower than those collected in 2014. In 2019, employer taxes are estimated to be an additional $200 million lower.
IDES has modernized its systems since 2015 to enhance anti-fraud enforcement, prevention of improper payments and collection processes saving Illinois employers over $250 million.
Working with the Illinois Department of Revenue, IDES developed and implemented the most modern UI tax system in the country, establishing for employers a one-stop shop for all state taxes at IDOR.