Black workers in Illinois face much higher unemployment rates than other Black workers in the nation and than their white peers in Illinois. Investing in MAP grants rather than spending more on public pensions could make a difference.
Revisions show Illinois added 17,400 more jobs in 2021 than previously thought, but the state’s recovery still significantly lags the U.S. recovery rate.
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.
Illinois borrowed $4.2 billion from the federal government to replenish its unemployment trust fund, missed the deadline to repay it and now wants to avoid the interest that is due.
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.