1) Poor Illinois
If you live in Illinois…we’re sorry!
A new report from the indispensable Illinois Policy Institute finds that in May while the rest of the country gained 500,000 jobs, Illinois managed to LOSE jobs.
Illinois saw six of 11 major industries shrink payrolls in May as the nation continued to regain jobs lost during the COVID-19 recession.
Adding the April and May data together, Illinois lost jobs even as COVID has largely ended. Some cities are getting creamed. IPI finds: “The majority of Illinois-based metropolitan areas – 8 out of 13 – shed jobs during the month. Rockford lost 3.2% of its payroll positions, the worst in the nation and a total of 4,500 jobs.” The chart above documents the economic sclerosis.
This is a blue state that is only getting bluer. A state with nearly the highest taxes in the nation raised taxes again this year. The governor J.B. Pritzker had some of the most draconian lockdown orders and did next to nothing to combat the riots that razed whole neighborhoods in low income areas. He still agitates for higher income taxes. Oh, and IPI now estimates that because workers have been unemployed for SO long in Illinois, the Illinois Unemployment Fund is as much as $8 billion in deficit – on top of its tens of billions of unfunded pensions.
Pritzker is proving himself to be the Andrew Cuomo of the Midwest. We just hope he doesn’t play in Peoria. |