Population decline has shrunk Illinois’ workforce and the relative size of the state economy. Attracting more workers from other states starts with lowering the cost of living, decreasing pension costs and debt, and improving the state’s social services.

Illinois declining population was partly responsible for lower growth housing values and Illinois slower recovery.

In the wake of the COVID-19 pandemic, Illinois’ economic recovery in 2021 lagged other states. A lack of in-person schooling, fewer economic opportunities and high taxes only exacerbated the ongoing population loss.

Illinois has the nation’s third-highest number of state regulations and double the U.S. average. Regulations make life hard for Illinois’ small businesses, where most Illinois jobs are created.