Numbers from the March WARN report show that employers in Illinois across various industries laid off 2,573 workers; 267 of the layoffs were in manufacturing.
In the last decade, Illinois’ economy and the economies of neighboring states have gone in opposite directions, with more people now working in Wisconsin and Indiana combined.
The company’s announcement affects 800 hourly employees, though 1,200 workers will remain in Aurora. In January, Caterpillar announced plans to relocate its global headquarters to Chicago and out of its longtime hub in Peoria.
In February 2017 Illinois surpassed its previous jobs peak from September 2000. However, long-term problems could potentially hamstring further jobs growth if left unaddressed.
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.
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.