Illinois: 45th out of 50

jobsVarious reports show Illinois ranks 45th among the 50 states for job creation while the state’s unemployment rate stands at 9.2 percent. Both of these assessments are for the month of August and are the same as they were in July and just fractionally worse than June. Elsewhere, federal figures show nearly 15 percent of Illinoisans live in poverty.

“It’s difficult to read and hear about these reports on the state of our economy but it’s reality and at some point we must begin addressing the causes and solutions to solving our economic plight,” said McCarter. Clearly, the cost of doing business in Illinois is far too high. Other states, including our neighbors are fairing much better.

While the Illinois Department of Employment Security claims approximately 22,000 private-sector jobs were created this summer, the rate of unemployment has been at 9.2 percent throughout June, July and August and it’s the second highest of any state. Only Nevada at 9.5 percent is worse.

“The 9.2 percent unemployment rate represents about 600,000 Illinoisans out of work and is nearly two full percentage points above the national unemployment rate of 7.3 percent,” said McCarter.
Meanwhile, The Illinois Policy Institute (IPI), a non-partisan public policy research organization, reports the average unemployment rate of the five surrounding states is 7.2 percent. That’s a full two percentage points lower than Illinois’ 9.2 percent rate. IPI also reported on the US Department of Labor’s Bureau of Labor Statistic’s assessment of the U-6 figure. The U-6 number includes the currently unemployed and those who are underemployed and those who have given up looking for work. In its report IPI wrote, “Illinois’ most recent U-6 unemployment rate is 16.1%, meaning more than 1 million Illinoisans are unemployed or underemployed.”

“The way out of this is to lower the cost of doing business in Illinois and lowering the cost of hiring,” said McCarter. “That means lower taxes, fewer regulations and meaningful reforms to our Workers’ Compensation System, which despite changes to the System a year ago, continues to be more costly than our surrounding states. Unfortunately, what we’ve witnessed in recent months is the state having to handout economic incentives to businesses to keep them from moving elsewhere. If our business climate was positive, the state would not have to give away limited and precious public tax dollars to convince the job creators to stay.”

Another measure of the Illinois economy comes from the US Census Bureau. The Associated Press (AP) reports on the latest Census Bureau information indicating Illinois’ poverty rate was at 14.7 percent for 2012, the latest year for which statistics are available. The 14.7 percent rate represents more than 1.8 million Illinois residents living in poverty. Meanwhile, the national poverty rate is estimated to be at 15 percent, representing about 46.5 million Americans.

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Comments

  1. One must enjoy these statistics brought to you by the Public Sector that is destroying the nation with its excess and fraud. Imagine the progress made in reducing our unemployment (Federal) from nearly 10% to just over 7.2% what a job to remove millions from the workforce. In fact the employment picture is actually worse if you count all those no longer in the workforce, part time employment, etc. It is truly remarkable to see the Politicians (Criminals) of our Society parade figures that are meaningless at best and truly bogus. How about concentrating on the critical issues like restructuring and reforming the bloated Public Sector operations with their 50% over staffing and compensation levels and their millionaire pension scams. How about addressing the oppressive taxation levels and double and triple taxation of income. How about reforming the corruption throughout the entire Public Sector operations. How about following the US Constitution in any legislative action and prosecuting those that commit crimes against the Constitution. If the critical aspects were addressed at the Federal, state and local levels the deficit would be eliminated today, the debt would seize to rise, the tax rate could be set at a Flat Tax maximum of 15% Federal, 2% State and the removal of all double and triple taxation of income. Introduce a Universal Voucher System for K12 Education of $7K annual maximum Public Sector spending per student that the parents could take to any Parochial, Public, Private or Virtual School System and the fraud, dysfunction and excessive operation costs would be addressed now. Is it not way past time to address the fraud and corruption in the Public Sector that is destroying this nation at every level.

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