Following once again in New York City’s tradition of petty nanny statism, a new ordinance proposed by aldermen Edward Burke and Anthony Beale seeks to ban horse-drawn carriages in Chicago. The proposed ordinance would amend the municipal code to prohibit the renewal of carriage licenses, which would bring an end to the industry by the...
Nonfarm payrolls increased by only 113,000 in January, compared with an average of 194,000 per month in 2013 and The Wall Street consensus expectations of 180,000, according to the report from the U.S. Bureau of Labor Statistics. December’s disappointing payroll number was revised up only to 75,000 from 74,000, leaving the U.S. with consecutive ugly...
Smartphone-based taxi services such as Uber and Lyft have been invaluable for many Chicagoans during the polar vortex and its lingering aftermath. The city’s entrenched taxi industry doesn’t like that fact. They’ve filed suit against the city of Chicago, claiming that allowing the existence of these in-demand services discriminates against people without access to smartphone...
The office of Governor Pat Quinn is claiming victory off a study released Thursday by CareerBuilder and Economic Modeling Specialists International. The study shows that Illinois ranked third-highest nationally in the creation of net new business establishments from 2009-2012. An establishment is defined as a single location that produces some form of economic activity, and...
Imagine creating a new solution, devising an innovative new product, providing an effective service or simply doing something well enough that you can build a business. Your dream has come true, and you’re ready to start out on your own. As a small-business owner, you want to utilize the advantages of the Limited Liability Company,...
Chloe Stirling, an 11-year old from Madison County, dreams of one day running her own bakery. Starting at such a young age, the sky is the limit for her baking dreams. And if state and local regulators have their way, that bakery will not be in Illinois. “Hey, Cupcake!” is Chloe’s first start at a...
The structure of a limited liability company, or LLC, offers great advantages for small businesses, such as allowing start-ups and small businesses to avoid the extra tax burdens of corporations. At the same time, the LLC structure protects the owners from the excessive liability of sole proprietorships and partnerships. In Illinois, the LLC is burdened...
The state ended 2013 – a year of dismal employment – with an even worse December. Illinois moved from having the fourth-worst unemployment rate in November to the third-worst in December, falling behind Michigan. Only Nevada and Rhode Island remain worse. The unemployment rate in Illinois fell to 8.6 percent from 8.7 percent, while the...
Why do moving companies love Illinois politicians? Because they keep a heavy traffic flow moving out of Illinois. At the end of each year, moving companies release annual migration trends data based upon a compilation of customers who move in and out of different states. United Van Lines is the largest mover in the country,...
Illinois continues to fall behind the national unemployment average in December, as the Illinois unemployment rate moved to 8.6 percent – nearly two percentage points above the national average of 6.7 percent. The state lost 3,200 nonfarm payroll jobs in December. Illinois’ nonpayroll jobs loss came despite the fact that the U.S. added 70,000 nonfarm...
The story of Illinois’ steady out-migration problem is well known, but just where are Illinoisans moving to? Is the outflow driven entirely by retirees and beach-goers moving to Florida? Not according to the U.S. Census Bureau, which just released its 2012 American Community Survey of state-to-state migration flow data. These data use census surveys to...
Chicago is a great place to make a movie. Tom Cruise got his big break in the North Shore-based drama “Risky Business,” and comedy star Vince Vaughn claims the Windy City as his home. Film favorites ranging from “Ferris Buehler’s Day Off” to “The Untouchables” and the annual Christmas viewing requirement that is “Home Alone”...
What’s making it harder for Illinois parents to save for a child’s college education, and for working moms to take that next step in their careers? What’s driven a record 91.8 million Americans to give up and no longer look for work? Reduced economic freedom. Economic freedom has powerful effects. It not only drives job...
In a repeat of last month’s disappointing employment news, eight of Illinois’ 10 Metropolitan Statistical Areas, or MSAs, saw their unemployment rates rise compared to November 2012, according to November’s metropolitan area unemployment report from the U.S. Bureau of Labor Statistics. The Decatur and Danville regions are still suffering the highest unemployment in the state,...