U.S. shows healthy jobs gain, leaving Illinois behind

There are now 1.06 million more Americans working than when the recession began. In comparison, there are 232,000 fewer Illinoisans working over the same time period, the second-largest employment gap in the U.S.

The national unemployment rate fell to 5.6 percent in December, according to the Bureau of Labor Statistics’ report. The U.S. unemployment rate fell because the number of Americans working went up by 111,000 while 273,000 Americans dropped out of the workforce.

Another month of weak employment growth on the household survey was offset by a surge in payroll jobs on the business survey. Payrolls grew by 252,000 in December, against expectations of 240,000. In addition, the payroll counts for October and November were revised upward by 18,000 and 32,000, respectively.

The U.S. broke even on recession-era employment in 2014. This was largely driven by the employment gains made in Texas. The Lone Star State alone has 1.4 million more people working than when the recession began, accounting for 122 percent of the country’s net employment gains in the recession era. There are now 1.06 million more Americans working than when the recession began.

In comparison, there are 232,000 fewer Illinoisans working over the same time period, the second-largest employment gap in the U.S.

For the U.S. as a whole, the number of payroll jobs lost during the recession have been regained with the break-even point coming in 2014, according to bureau’s business establishment survey. Texas accounts for 60 percent of the nation’s net jobs gain in the recession era, up nearly 1.2 million payroll jobs in the recession period. The U.S. now has 2 million more payroll jobs today than in January 2008, the pre-recession peak.

Illinois, on the other hand, is still struggling toward a payroll-jobs recovery. The Land of Lincoln is still down 136,100 jobs. That leaves the state with the largest jobs gap in the entire country.

Illinois has lagged far behind the national recovery, both in terms of putting people back to work and in creating payroll jobs.

Illinois is amidst one of the weakest economic recoveries in the nation. A slow economy and unhealthy business environment are thwarting human potential in the Prairie State. Illinois has not only the worst recession jobs recovery in the U.S., but also the Midwest’s worst job-creation rate in 2014. Economic policy failure is driving people out of Illinois in record numbers. In 2014 alone, Illinois sustained a record-high net loss of 95,000 people to other states.

Illinois’ only solution to a broken budget and record out-migration is robust economic growth. Springfield’s broken budgets cannot be made whole without more job creation and business investment. Without economic reform, neither the diminished prospects for human flourishing nor the record exodus of Illinois talent will end.