Illinois one of only two states contracting
Illinois one of only two states contracting
The Federal Reserve Bank of Philadelphia announced that Illinois is one of two states that experienced economic decline during the past three months
Wrong way Illinois: January 2013 unemployment worsens compared with neighbors
Wrong way Illinois: January 2013 unemployment worsens compared with neighbors
The latest BLS unemployment release once again highlights how poorly Illinois is faring compared with its neighbors and the nation as a whole. Illinois’ January unemployment rate jumped to 9 percent, a 0.4 percent increase over December’s rate. Illinois now has the seventh-highest unemployment rate in the nation, with nearly 600,000 Illinoisans unemployed. Meanwhile, the...
Minimum wage increase would be a blow to unskilled workers
Minimum wage increase would be a blow to unskilled workers
Illinois already has the fourth-highest minimum wage in the nation and is one of 19 states with a minimum wage higher than the federal rate of $7.25 per hour. But the state’s current rate of $8.25 isn’t enough for Illinois lawmakers, who want to increase the minimum wage to $10.25 an hour. Efforts to increase the minimum...
Facing facts: the numbers show Illinois is losing people
Facing facts: the numbers show Illinois is losing people
Illinois loses one resident every 10 minutes to net out-migration. It should be no surprise that people are fleeing Illinois. Illinois ranks 48th in economic outlook, 45th in GDP growth between 2000 and 2010, and 47th in its level of entrepreneurial activity. There is little opportunity left for Illinois’ families and entrepreneurs to succeed. And...
Illinois’ unemployment rate jumped to 9 percent
Illinois’ unemployment rate jumped to 9 percent
In his budget address on Wednesday, Gov. Quinn touted the number of jobs that have been created during the past two years. The governor would have you believe that Illinois’ job crisis is over. But that’s far from the truth. As today’s labor release from the Bureau of Labor Statistics shows, Illinois’ unemployment rate jumped...
Four years of Quinn – higher taxes, bigger debts and no sign of change
Four years of Quinn – higher taxes, bigger debts and no sign of change
As Gov. Pat Quinn delivers his fifth annual budget proposal today, it’s important to review the governor’s track record and what his policies have meant for Illinois. When Quinn took office in 2009, Illinois was reeling from former Gov. Rod Blagojevich and his culture of deficits and corruption. The state’s fiscal condition was a shaky...
Wrong-way Illinois: state unemployment jumps as national unemployment rate continues to fall
Wrong-way Illinois: state unemployment jumps as national unemployment rate continues to fall
Another 35,000 added to unemployment in February
Illinois’ average personal income growth trails neighbors and nation
Illinois’ average personal income growth trails neighbors and nation
The U.S. Bureau of Economic Analysis, or BEA, announced today that Illinois ranked 42nd in personal income growth in 2012.
Poor policy decisions continue to sap Illinois’ economic activity
Poor policy decisions continue to sap Illinois’ economic activity
In the game of state competitiveness, Illinois lags the nation. Poor policy decisions continue to sap economic activity and ruin opportunities for businesses operating in Illinois.
Illinois’ unemployment rate jumped to 9.5% in February
Illinois’ unemployment rate jumped to 9.5% in February
Job growth is also anemic in the state. Illinois added 12,400 jobs last month. Thats a growth rate of only 0.2 percent from the previous month.
The great poverty panacea: Obama, Quinn and the minimum wage illusion
The great poverty panacea: Obama, Quinn and the minimum wage illusion
Both Gov. Pat Quinn and President Barack Obama called for an increase in the minimum wage when they made their respective State of the State and State of the Union speeches.
Quinn’s Illinois: regulations and cronyism crush entrepreneurship
Quinn’s Illinois: regulations and cronyism crush entrepreneurship
In Gov. Pat Quinns State of the State address, he said, In our Illinois, small business means big business. Driving economic growth for small businesses requires doing all we can to make sure government is not in the way.
Illinois’ high-tax environment causes historical out-migration
Illinois’ high-tax environment causes historical out-migration
The Illinois Policy Institute has long warned that Illinois high-tax environment hurts the states economy. Prior to the 2011 income tax hike, we sounded the alarm that higher taxes would cause people and businesses to leave the state.
U.S. GDP contracts for first time since 2009
U.S. GDP contracts for first time since 2009
Economy shrinks for first time since recession ends