Illinois tops neighboring states with $10 minimum wage on July 1

By Ben Szalinski

06/29/2020

Illinois’ second minimum wage increase this year is part of a plan to hit $15 an hour in 2025. Small businesses face tough decisions on cutting staff or raising prices.

TAGS: coronavirus, COVID-19, minimum wage, recession

COVID-19 economic hit forces Peoria to cut 45 city jobs, offer buyouts

By Ben Szalinski

06/24/2020

Peoria’s financial problems grew critical from the coronavirus, but the long-term threat of pension debt will remain even after more severe cuts are made.

TAGS: coronavirus, COVID-19, Peoria, recession

Illinois’ new initial unemployment claims remain high

By Orphe Divounguy, Jon Josko

06/11/2020

New jobless claims remain several times higher than last year as state begins to test re-opening.

TAGS: coronavirus, COVID-19, economy, jobs, recession, unemployment

Black, Hispanic women hit hardest after Illinois decreed which jobs were ‘nonessential’

By Orphe Divounguy, Bryce Hill, Jon Josko

06/03/2020

More than 1 in 5 black and Hispanic female workers in Illinois lost their jobs during the first month of the COVID-19 lockdown.

TAGS: coronavirus, COVID-19, IDES: Illinois Department of Employment Security, jobs, recession

Illinois’ economy shrinking by more than $183M per day as state approaches 1M new jobless claims

By Orphe Divounguy, Bryce Hill, Jon Josko

05/07/2020

COVID-19 and measures to contain the disease have resulted in unemployment that’s over 50% higher than the worst months of the Great Recession.

TAGS: coronavirus, COVID-19, economy, GDP: gross domestic product, recession, unemployment

COVID-19 increases Illinois farm losses to point that farms may be lost

By Brad Weisenstein

04/24/2020

Farmers have always proven resilient and ultimately will survive the virus and anything state government lobs at them.

TAGS: coronavirus, COVID-19, farms, minimum wage, progressive income tax, recession

Pritzker claims statewide economic growth, but these Illinois metro areas are shedding jobs

By Bryce Hill

02/10/2020

Despite Gov. J.B. Pritzker touting growth in “every major region,” Illinois shed jobs in three metropolitan areas and lagged the national average in seven more.

TAGS: Bloomington, BLS: Bureau of Labor Statistics, budget, Carbondale, Champaign, Chicago, constitutional amendment, economic competitiveness, economic growth, economics, economy, employment, fair tax, flat tax, government spending, graduated income tax, Great Recession, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, income growth, JB Pritzker, job creation, jobs, labor, Madison County, metro areas, Metro East, Moline, pensions, Peoria, population, progressive income tax, recession, Rockford, spending, spending cap, Springfield, St. Clair County, tax burden, tax hikes, tax increase, unemployment, Urbana, working-age

Slowest-growing states have progressive income taxes

By Bryce Hill

02/07/2020

Fewer people want to live in states with progressive income taxes. So after 6 straight years of population loss, why would Illinois want to join them?

TAGS: ballot, ballot referendums, corporate income tax, fair tax, flat tax, graduated income tax, Great Recession, ILGA: Illinois General Assembly, Illinois, Illinois Constitution, income tax, JB Pritzker, outmigration, pensions, population, progressive income tax, recession, spending cap, Springfield, tax burden, tax hikes, tax increase, Tennessee, Texas, U.S. Census Bureau, West Virginia, working-age

Illinois home price growth slowest in nation last year

By Bryce Hill

02/03/2020

Home price appreciation in Illinois was the slowest in the U.S. between the third quarter of 2018 and the third quarter of 2019, federal data showed.

TAGS: Chicago, Chicagoland, Cook County, government spending, Great Recession, home values, homeownership, household income, housing, housing market, ILGA: Illinois General Assembly, Illinois, income tax, Indiana, investment, JB Pritzker, Lake County, mortgage, recession, spending, Springfield, tax hikes, tax increase

Chicago area up 241K jobs, rest of Illinois down 41K jobs from before recession

By Austin Berg

01/21/2020

Illinois’ uneven recovery reflects national trends, but also raises important questions about the state’s economic future ahead of a key tax hike vote.

TAGS: BLS: Bureau of Labor Statistics, capital gains, Chicago, corporate income tax, economic competitiveness, economy, graduated income tax, Great Recession, ILGA: Illinois General Assembly, Illinois, investment, JB Pritzker, labor, minimum wage, outmigration, population, progressive income tax, real estate, recession, Springfield, tax hikes, tax increase