Pension costs for state government workers reached an all-time high in 2016, consuming 25 percent of the state’s general budget.1 Today, more than $8 billion of the state’s yearly $32 billion budget goes to pay for pension costs, sapping tremendous amounts of money from social services for the developmentally disabled, grants for low-income college students, and aid to home...View Report
Newly released Illinois jobs report points to anemic jobs growth and a contracting labor force.
February saw the worst WARN report in seven months, with nearly 250 of the jobs lost coming from the manufacturing sector.
Illinois had the highest black unemployment rate of any state at the end of 2016, holding that distinction for six consecutive quarters, according to analysis by the Economic Policy Institute. The Land of Lincoln also has the largest gap between its white and black unemployment rates.
Numbers from the January 2017 Illinois WARN report show most of the mass layoffs were in the service industry.
Illinois continues to have the worst jobs growth in the region, and tax hikes will only make matters worse.
The status quo isn’t working for Illinois; the state needs serious reforms to get its spending under control, pay down its debt, and rein in the taxes that are driving its people across state lines.
New Illinois jobs data reveal a state with thousands of job losses, unemployment rising to 5.7 percent, a collapsing manufacturing sector, and several downstate communities sliding back into recession — all of which make the Illinois Senate’s new tax hike proposal especially harmful.
Nippon Sharyo points to prototype difficulties and unspecified business concerns as the main reasons behind the layoffs.
The company plans on moving its white-collar workforce to Naperville, while keeping its manufacturing plant in Michigan.
Latest WARN report sees almost all mass layoff announcements come from Cook County.