At the end of July, about 400 Illinois workers were notified that they might be losing their jobs in the next few weeks. Filings with the Illinois Department of Commerce and Economic Opportunity highlighted this number, which includes cuts at major companies throughout the state. According to the Chicago Tribune: Lake Forest-based Grainger Inc. said it...
This week, Chicago Mayor Rahm Emanuel’s office issued a press release boasting of steps the city has taken to make it easier and faster for small businesses to get city licenses. According to the statement, visitors to the city’s Small Business Center can now take advantage of an express lane, a self-service station and additional “customer service”...
The U.S. Bureau of Labor Statistics announced today that the national unemployment rate dropped to 7.4 percent in July from 7.6 percent in June. The number of unemployed persons dropped by 263,000 to 11.5 million. Over the course of the year, unemployment and the unemployment rate are down by 1.2 million and 0.8 percentage points,...
by John Klingner President Barack Obama visited to Galesburg last week to give a speech in which he said he would refocus on jobs and the economy. That’s little comfort for the unemployed workers in cities across Illinois. The economic policies the president wishes to enact at the federal level have been at work for...
Dimitri Syrkin-Nikolau doesn’t just make pizza. Through his Chicagobased business, Dimos Pizza, he also cultivates talented employees. He opens his doors to local schools. He helps foster enthusiasm and excitement within his community. That’s because, to Syrkin-Nikolau, business isn’t just about making money. He believes it’s about what he calls “purposeful profit.” “Ultimately, profit is...
The U.S. Bureau of Labor Statistics, or BLS, reported Thursday that Illinois’ unemployment rate rose to 9.2 percent in June from 9.1 percent in May. Illinois still has the nation’s second-highest unemployment rate, a ranking it has held since March. Only Nevada has a higher unemployment rate at 9.6 percent. BLS also reported Illinois’ nonfarm payrolls increased by...
Illinois has the nation’s second-worst unemployment rate. At 9.1 percent, it’s 1.5 percentage points higher than the national average of 7.6 percent. The lack of jobs continues to be a major burden to the people of Illinois, at both the state and local level. A year-over-year comparison of Metropolitan Statistical Areas, or MSAs, reveals an uneven...
The Illinois Department of Employment Security announced today that the Illinois unemployment rate rose to 9.2 percent in June, up from 9.1 percent in May. The U.S. unemployment rate held steady in June at 7.6 percent. The state added 9,000 private sector jobs in June. A year ago, the state’s unemployment rate was 9 percent, while the...
The real story behind Illinois’ decade of fiscal and governance crises is that the number of jobs is shrinking and food stamps are taking their place. Illinois’ massive pension debt, perennial overspending and high taxes are squeezing out the private sector and jobs, while Springfield’s dysfunction and the state’s collapsing credit rating are destroying investor...
by Ben VanMetre CNBC released this week its Top States for Business 2013 index. Illinois dropped 11 notches overall, to 37th from 26th, in just one year. The study scores all 50 states on 51 measures of competitiveness, and the metrics are boiled down to 10 broad categories. Each category is weighted differently. Unfortunately, Illinois ranks...
In the wake of Lebron James’ second-straight NBA title and the end of the professional season, free agents across the league are considering their next moves. Some of the biggest names to enter the free-agent fray include the Los Angeles Lakers’ Dwight Howard and New York Knicks sixth-man, J.R. Smith. As these athletes consider their decision, they’ll...
Allstate Corp. tops the list of Illinois companies planning layoffs, according to a June report from theIllinois Department of Commerce and Economic Opportunity, or IDCEO. The Northbrook-based insurance company is planning to lay off 348 workers from its Woodridge, Ill., location as part of a restructuring effort to reduce expenses. Under IDCEO’s Illinois Worker Adjustment and...
by Ted Dabrowski and Paul Schumacher Despite Illinois’ improved May unemployment numbers, the state continues to lag the nation in job creation. Illinois has the second-highest unemployment rate in the nation – a position it has held since March. Illinois’ jobless rate dropped to 9.1 percent from 9.3 percent in May, according to the Bureau...
by Paul Schumacher The Illinois Department of Employment Security, or IDES, announced today that the Illinois unemployment rate declined to 9.1 percent in May from 9.3 percent in April. Illinois’ unemployment rate is still one and a half percentage points above the national average, which rose to 7.6 percent in May. Source: Illinois Department of Employment Security There...