The office of Governor Pat Quinn is claiming victory off a study released Thursday by CareerBuilder and Economic Modeling Specialists International. The study shows that Illinois ranked third-highest nationally in the creation of net new business establishments from 2009-2012. An establishment is defined as a single location that produces some form of economic activity, and...

Imagine creating a new solution, devising an innovative new product, providing an effective service or simply doing something well enough that you can build a business. Your dream has come true, and you’re ready to start out on your own. As a small-business owner, you want to utilize the advantages of the Limited Liability Company,...

The structure of a limited liability company, or LLC, offers great advantages for small businesses, such as allowing start-ups and small businesses to avoid the extra tax burdens of corporations. At the same time, the LLC structure protects the owners from the excessive liability of sole proprietorships and partnerships. In Illinois, the LLC is burdened...

Illinois continues to fall behind the national unemployment average in December, as the Illinois unemployment rate moved to 8.6 percent – nearly two percentage points above the national average of 6.7 percent. The state lost 3,200 nonfarm payroll jobs in December. Illinois’ nonpayroll jobs loss came despite the fact that the U.S. added 70,000 nonfarm...

The national unemployment rate declined to 6.7 percent in December, down from 7 percent a month earlier, according to the latest report from the U.S. Bureau of Labor Statistics. Payroll jobs increased a paltry 74,000, below consensus estimates of 200,000. November payroll gains were revised up from 203,000 to 241,000. Despite the huge miss in...

Illinois’ unemployment rate fell to 8.7 percent in November from 8.9 percent a month prior, according to the U.S. Bureau of Labor Statistics. Illinois still has the fourth-highest unemployment rate in the nation, behind only Nevada, Rhode Island and Michigan. The state gained 9,400 payroll jobs over the month, while the number of unemployed Illinoisans...

Gov. Pat Quinn is pitching a plan that would effectively cut out young and inexperienced labor from the work force, and further exacerbate youth unemployment in the state. The governor revealed in a Wednesday press conference that he is seeking to raise the minimum wage from $8.25 to $10, lifting the barrier to entry for...

Wisconsin Gov. Scott Walker recently expressed interest in eliminating his state’s income tax. Walker realizes this move will give Wisconsin a competitive edge in competing for jobs and attracting new business. This new reform would add to important steps that state already has made, including labor reforms in late 2011 that helped the state’s budget...

The number of Illinoisans enrolled in Supplemental Nutrition Assistance Program, or SNAP, remained above 2 million in September. This is the 12th month in a row enrollment has remained above 2 million people. That means one-sixth of Illinoisans have spent more than a year relying on government handouts for their next meal. And it should...

The national unemployment rate fell to 7 percent in November, down from 7.3 percent a month earlier, according to the latest report from the U.S. Bureau of Labor Statistics, or BLS. The number of unemployed Americans fell by 365,000, while both the number of employed and the labor force grew over the month. The number...