Illinois politicians ignored Caterpillar CEO Doug Oberhelman’s 2012 plea for pro-growth reforms, and Illinois is the only state in the region to have lost manufacturing jobs on net over the last four years.
The East Peoria, Ill., plant will be the hardest hit, losing 230 jobs for office and production workers. As neighboring states grow factory work, Illinois is approaching an all-time low for manufacturing jobs.
Illinois lost 3,000 jobs on net in 2015, while other neighboring and Great Lakes manufacturing states all gained tens of thousands of jobs on net for the year.
The state unemployment rate jumped to 5.9 percent from 5.7 percent, driven by an increase of 18,300 Illinoisans who are unemployed. Illinois also has 178,000 fewer people working compared to before the Great Recession.
Noting some hard numbers from November, Illinois manufacturers say they’re watching Springfield for decisions on taxes and spending as they keep battling in a worldwide marketplace. While Illinois gained a few jobs in November, they weren’t in manufacturing. Although the state added about 400 jobs in November, the unemployment rate rose 0.3 percentage points to...
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.