Rhode Island

Illinois’ unemployment rate third-worst in the nation

By Michael Lucci

01/28/2014

The state ended 2013 – a year of dismal employment – with an even worse December. Illinois moved from having the fourth-worst unemployment rate in November to the third-worst in December, falling behind Michigan. Only Nevada and Rhode Island remain worse. The unemployment rate in Illinois fell to 8.6 percent from 8.7 percent, while the...

Illinois unemployment rate falls to 8.7%, continues to lag behind national average

By John Klingner

12/21/2013

Illinois’ unemployment rate fell to 8.7 percent in November from 8.9 percent a month prior, according to the U.S. Bureau of Labor Statistics. Illinois still has the fourth-highest unemployment rate in the nation, behind only Nevada, Rhode Island and Michigan. The state gained 9,400 payroll jobs over the month, while the number of unemployed Illinoisans...

TAGS: jobs, unemployment

Don’t buy mom Illinois bonds for Christmas

12/19/2013

Would you invest your mother’s money in municipal bonds? In a recent interview on Fox Business News, host Gerri Willis asked me that very question. It didn’t take me long to say I’d certainly do my homework first. Based on the growing number of city bankruptcies from Alabama to Rhode Island to California, it’s clear to me...

Pension reform: Institute’s work on 401(k)s

By Chris Andriesen

12/04/2013

Illinois’ pensions are among the worst-funded in the nation. The state has just 40 cents for every $1 that has been promised in benefits, and many government workers are concerned that they do not have choice and control over their own retirement. Illinois should not be forced to leave their retirement to the whims of...

Illinois General Assembly sends pension “fix” to Gov. Quinn

By John Tillman

12/04/2013

The Illinois General Assembly sent a pension bill to Gov. Pat Quinn. It is important to be clear about what this bill is and is not. Let’s start with what this bill is not. This bill is not the sweeping reform that Illinois has been waiting – fighting – for over the past few years....

TAGS: 401(k), defined benefit plans, pension guarantee, pensions

Detroit pensioners learn nothing is guaranteed

12/03/2013

For 33 years, Clyde Tome served the city of Detroit as a firefighter. Every day he was on duty he knew his life was on the line; in one encounter with riot fires, Tome watched a colleague die. Another time, he saw a nearby fireman killed in a random shooting. For his commitment, Tome counted...

TAGS: Detroit, Michigan, pension guarantee, pensions

Five reasons why Madigan’s pension fix is a step backward

11/29/2013

There’s immense pressure on Illinois legislators to pass a pension bill. With the state pension system nearing insolvency and credit agencies warning of further downgrades, the perceived wisdom is that any pension fix, no matter how small, is a “step forward” that must be passed. But when it comes to pension reform in Illinois, that...

TAGS: COLA: cost of living adjustment, Jim Edgar, Pat Quinn, pensions, retirement age

Pension solutions: reforming retirement age

By Benjamin VanMetre, John Klingner

11/26/2013

THE PROBLEM Illinois’ $100 billion pension crisis is the worst in the nation. The Illinois General Assembly’s failed attempts to solve the pension crisis in the past have only perpetuated Illinois’ problem. Politicians have done nothing more than tinker at the margins of reform to avoid making tough decisions. The reality is minor changes won’t...

Illinois’ unemployment rate dips below 9 percent in October

By John Klingner

11/22/2013

Illinois’ unemployment rate fell to 8.9 percent in October from 9.2 percent in August, according to the U.S. Bureau of Labor Statistics. A total of 4,800 payroll jobs were created between August and October. Today’s BLS report, which included both October and September numbers, was delayed until today due to the government shutdown in October....

TAGS: jobs, unemployment

Shrinking the Illinois Senate

By Brian Costin

10/08/2013

With 42,336 elected officials as of 1992, Illinois has nearly 12,000 more state and local elected politicians than any other state. Amazingly, with this unprecedented wealth of legislators Illinois hasn’t been able to adequately address some of its most dire problems. Illinois still ranks near the bottom of the nation in numerous key economic indicators,...

TAGS: term limits

FAQ: How the federal scholarship program would help Illinois students

Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...

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