A new Fed report shows strict COVID-19 policies and enhanced unemployment benefits likely contributed to Illinois’ sluggish recovery from the pandemic recession.
Illinois is experiencing one of the nation’s worst recoveries for leisure and hospitality jobs. Of the Illinois jobs that vanished since the COVID-19 pandemic, 35% are in leisure and hospitality – the most of any industry.
Gov. J.B Pritzker’s latest campaign ad praises his support for small businesses even though his policies contributed to one of the nation’s largest small business closures.
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.
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.
The nation recovered 85% of the jobs lost to the COVID-19 downturn, but only one metro area in Illinois beat the U.S. average. The Chicago area only recovered 64% of its jobs. Bloomington was one of just 11 U.S. areas to lose jobs last year.