Illinois’ jobs growth over the past year was 40 percent slower than the national average, and lagged even further behind the average of neighboring states.
The Illinois Senate’s proposed budget plan would raise the personal income tax rate to at least 4.95 percent with no real reforms to address the state’s skyrocketing debt and unsustainable spending. This proposal comes despite Illinois’ loss of $14 billion in annual income and hundreds of thousands of people in the wake of the 2011 income tax hike.
Unemployment rates fell for most of Illinois’ metropolitan statistical areas in September, according to a press release from the Bureau of Labor Statistics. However, seven out of 10 Illinois metro areas are not showing any signs of an economic recovery when it comes to putting people back to work. Champaign, Chicago and Springfield are showing...
Though unemployment rates fell in August for Illinois’ major metropolitan areas, 19,000 workers dropped out of the workforce, according to the Bureau of Labor Statistics. Because of these dropouts, the workforce shrank in every metropolitan statistical area, or MSA, except Champaign-Urbana. Workforce dropouts drive down the unemployment rate because unemployed workers who leave the workforce...
The unemployment rate fell in all of Illinois’ metropolitan statistical areas in July, according to a press release from the Illinois Department of Employment Security. In fact, unemployment rates have fallen in all metro areas for four consecutive months, which seems like welcome news. But these numbers are only encouraging at face value. As is...
Employment in Illinois’ metropolitan areas improved in May, but employment growth is still far behind what it should be, according to data from the Bureau of Labor Statistics. All 10 metropolitan areas saw month-over-month and year-over-year improvement of their unemployment rates. Unfortunately, every Illinois metro area has an unemployment rate above the national average of...
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.