by Emily Dietrich
Today the Bureau of Labor Statistics reported that the majority of U.S. metropolitan areas decreased their unemployment rate from last year. Unfortunately for the largest metropolitan division in Illinois – Chicago-Joliet-Naperville – this was not the case.
With unemployment spiking 0.7 percentage points from a year earlier, Chicago-Joliet-Naperville experienced the largest unemployment rate increase in the country. Now the unemployment rate for this division stands at 10.4 percent.
While some Illinois metropolitan areas saw a decrease in unemployment from the painfully high 2010 levels, nine out of ten areas experienced stagnant or increased unemployment rates from last month. This doesn’t bode well for Illinois’s economy.
The recession ended over two years ago. Yet, Illinois’s elevated unemployment rate demonstrates that the state has not recovered. While most Illinoisans are keenly aware of this fact, they may not be prepared for the state’s downward trajectory.
After months of mounting unemployment, it’s obvious that Springfield’s policies are failing. Saddling our citizens and businesses with higher tax burdens is not the answer. As politicians suck more money to Springfield, Illinoisans have less in their pockets to provide for their families and businesses can’t afford to hire.
As summer quickly fades into the chill of fall, some continue to long for the promised summer of recovery. Yet in order for Illinois's economy to improve this season, bold steps need to be taken.
Source: U.S. Department of Labor, Bureau of Labor Statistics