A national study ranked Chicago’s unemployment recovery 172nd out of the 180 most-populous U.S. cities. Lawmakers didn’t help when they imposed $655 million in new taxes on the state’s job creators.
To combat above-average unemployment, Illinois state leaders discussed a possible back-to-work bonus. The state would pay cash to those who go off unemployment.
Illinois shed 7,900 jobs in May but most of those losses were outside of urban areas.
Illinois lost jobs in May as the state’s workers found themselves facing a tougher job hunt than workers in other states.
State lawmakers passed a bill allowing local governments to waive licensing fees and registration costs for businesses harmed by the COVID-19 pandemic, but it won’t spare them from state taxes.
Historic unemployment payouts related to the COVID-19 shutdowns left Illinois’ fund billions in the hole. State leaders did nothing to fix it, meaning there could be reduced benefits for the unemployed or higher taxes on employers trying to recover.
Illinois saw six of 11 major industries shrink payrolls in May as the nation continued to regain jobs lost during the COVID-19 recession.
Eight of 13 Illinois-based metro areas lost jobs in April.
Illinois was among the nation’s worst for delays in helping gig workers and the self-employed receive pandemic assistance unemployment payments, a federal audit found. Rampant fraud and inadequate reporting was also discovered nationwide.
A Chicago alderman wants to cap ride-share prices during peak demand. But price controls could leave more riders stranded if extra drivers are no longer attracted by extra cash.
The hospitality industry’s heavy losses during COVID-19 are still being felt, with one McDonald’s offering iPhones to lure recruits. Half the states trimmed unemployment to get workers back, but Pritzker’s message to struggling businesses is they should pay $1.5 billion in new taxes.
Census estimates predict nearly all Illinois municipalities shed population last year, with a greater share of large communities being affected.
Job losses peaked in April 2020 amid COVID-19 and state-mandated shutdowns. In the year-long recovery since, Illinois’ has been among the nation’s slowest.
While total payrolls were up 300, private sector jobs took a beating in April and lost 4,000 positions. Illinois’ labor market completely stalled as the national economic recovery slowed.