Illinois’s Lost Decade
by Kristina Rasmussen A new report on jobs and unemployment from the Commission on Government Forecasting and Accountability points out that Illinois’s employment levels are similar to that after the 2001 recession: Though the State gained jobs between the ‘90s tech boom peak and the 2006 expansion peak, the employment situation in Illinois currently stands approximately where the...
by Kristina Rasmussen
A new report on jobs and unemployment from the Commission on Government Forecasting and Accountability points out that Illinois’s employment levels are similar to that after the 2001 recession:
Though the State gained jobs between the ‘90s tech boom peak and the 2006 expansion peak, the employment situation in Illinois currently stands approximately where the State was after the 2001 recession.
Illinois’s “Great Recession” unemployment high was at 12.2 percent in January 2010.
How about income?
When inflation is accounted for, wages in Illinois have basically been flat since 2001. Between 2001 and 2009, the total growth in inflation-adjusted wages was a mere 0.7%.
