Illinois’ unemployment rate remains the highest in the Midwest despite March jobs growth. Unemployment is high across the state compared to the region.
Revised figures show 2020 job losses were worse for Black Illinoisans than originally thought. The worst year of job losses in state history disproportionately affected minority Illinoisans.
Illinois households earning less than $40,000 were four-times as likely to lose their jobs from February-April 2020 and nearly 11 times as likely to still be out of work compared to those earning $75,000 or more.
Illinois’ weak economic foundations and fiscal mismanagement were preexisting conditions that caused it to suffer a deeper COVID-19 downturn. They will also hurt its recovery.
Jobs data is giving the illusion of economic recovery in Illinois. The reality is 107,530 workers gave up their job searches, and new COVID-19 lockdowns can only hurt more workers.
Illinois lost 12,000 jobs in September and is home to the highest unemployment rate in the Midwest. Gov. J.B. Pritzker’s “fair tax” proposal would worsen the state’s jobs climate even more.
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.