Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.View Report
Illinois’ fastest-growing jobs sector in 2018 was government – another sign the state needs pro-growth reforms to keep up with the rest of the country.
While a majority of Illinois’ metro areas experienced expanding payrolls in September, metro areas only gained 800 jobs on net.
Since December 2017, the rest of the U.S. has expanded payrolls 80 percent faster than Illinois.
Illinois experienced net job losses in August, while the rest of the nation saw continued growth on average.
Illinois experienced its sixth consecutive month of jobs growth in July, yet continues to trail the pace of growth in the rest of the nation for 2018.
Illinois added 18,100 new jobs in June, the highest monthly increase since summer 2017, but the Prairie State still lags behind the rest of the nation for the post-recession period.
Illinois’ jobs situation improved in May, but the state needs long-term solutions such as a spending cap to get on a path to fiscal health and assure investors more tax hikes are not on the horizon.
Seven metro areas across the state lost jobs over the month.
The state also saw a drop in the unemployment rate, but it wasn’t because people found jobs.
While Illinois outperformed the nation in terms of monthly employment growth for the first time since September 2017, Illinois payrolls have only increased half as fast as the rest of the nation in the past year.