Unemployment rates fell for most of Illinois’ metropolitan statistical areas in September, according to a press release from the Bureau of Labor Statistics. However, seven out of 10 Illinois metro areas are not showing any signs of an economic recovery when it comes to putting people back to work. Champaign, Chicago and Springfield are showing...
The Illinois unemployment rate fell to 6.6 percent from 6.7 percent in September, according to today’s economic release from the Bureau of Labor Statistics. The number of payroll jobs in Illinois increased by 19,300 in September, the sixth-best monthly increase in the last 10 years. Illinois’ workforce grew by 5,800 in September, the first month...
From the beginning of the Great Recession in January 2008 through August 2014, Illinois is still down 157,100 payroll jobs, more than any other state in the U.S. Some sectors of Illinois’ economy have recovered completely, while others remain dramatically below pre-recession levels. Manufacturing and construction have had it the worst through the recession era,...
On Sep. 30, Chicago Mayor Rahm Emanuel’s office announced the “2014 Taxi Driver Fairness Reforms,” which purport to be major improvements that “[put] thousands of dollars back into [Chicago taxi drivers’] pockets” and “[cut] bureaucratic red tape” these drivers have to navigate. The reforms, some of which will need to be passed in a new...
Small businesses and innovators are the lifeblood of any economy, and Illinois needs reform to encourage them to locate in Illinois. Small businesses are responsible for two-thirds of all new jobs created in the last 20 years. The disincentives for entrepreneurs to locate in Illinois are systemic, and thus require systemic solutions. An agenda for...
Four months ago, Chicago passed an ordinance regulating the city’s burgeoning pedicab industry. What’s been the effect so far? By many accounts, business has taken a major hit. Before the ordinance, it was estimated that Chicago had as many as 400 pedicabs operating throughout the city. But since the ordinance took effect, the city has...
The Great Recession knocked 500,000 Illinoisans out of work from January 2008 to November 2009, according to the Bureau of Labor Statistics’ household survey. And since then, only 200,000 Illinoisans have gone back to work. This stands as one of the country’s slowest recoveries. As a result, Illinois has 300,000 fewer people working today than...
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.