Evidence from Connecticut suggests the progressive income tax could cost Illinois homeowners substantial equity in their homes.View Report
Unemployment claims bumped up for a second week in Illinois as Gov. J.B. Pritzker decided to push for 9 new taxes, mostly hitting businesses and job creation. Illinois ranked 49th for recovery last week.
Illinois households earning less than $40,000 were four-times as likely to lose their jobs from February-April 2020 and nearly 11 times as likely to still be out of work compared to those earning $75,000 or more.
The industry had been one of the bright spots in the Illinois economy but COVID-19 and state-mandated mitigation efforts have decimated it.
A new ranking puts Illinois’ corporate tax rates near the top. Still, Gov. J.B. Pritzker wants to extract $900 million more from corporations after failing to stop up to $1 billion in COVID-19 tax credits for small businesses.
The record year for job losses hit every corner of Illinois amid COVID-19 and state-mandated lockdowns.
Illinois lost 423,300 jobs from December 2019 through December 2020.
Illinois unemployment numbers dropped for a week during the holidays, but they were back up last week as the state's hospitality industry remains out in the cold.
Bans on indoor dining and bar service continue to hurt Illinois jobs numbers, placing the state low in a national recovery ranking.
Illinois’ jobs numbers have slipped for the second time in the past three months as the rest of the nation steadily recovers.
Jobs data is giving the illusion of economic recovery in Illinois. The reality is 107,530 workers gave up their job searches, and new COVID-19 lockdowns can only hurt more workers.