Despite a full year of job gains, all Illinois metropolitan areas are missing jobs since the pandemic began and the recovery stalled. While May brought job gains statewide, only eight metro areas saw gains while seven saw losses.
Business sectors directly affected by the coronavirus and mitigation employ 1.5 million Illinoisans. The longer the shutdown, the more industries and jobs face cuts.
New data show Illinois lost private sector jobs amid a national economic expansion for the first year on record in 2019, a sign of the state’s deep structural problems in the run-up to the current market downturn.
Despite Gov. J.B. Pritzker touting growth in “every major region,” Illinois shed jobs in three metropolitan areas and lagged the national average in seven more.
Illinois’ uneven recovery reflects national trends, but also raises important questions about the state’s economic future ahead of a key tax hike vote.
After years of enhanced revenue from federal aid, a return to the basic principles of budgeting can put Illinois on the path to long-term financial stability