Illinois lost 218 businesses to other states in 2023, part of an acceleration to triple the rate of what losses were before the pandemic. When adjusted for population, Illinois ranked No. 2 for the most business losses.
Despite leading the region in businesses applying to open, Illinois’ combative business climate results in few business actually starting.
June housing production in Illinois continues to lag the rest of the nation, leading to price problems across the state
Illinois’ latest drop in gross domestic product shows broader issues with the state. The state’s real GDP has been struggling for years.
Illinois was No. 12 in the U.S. for its June unemployment rate. It’s not been ranked that low since before the pandemic. Still, the state trails the national average thanks to anemic private-sector growth.
Ridership on Metra, the Chicago Transit Authority and Pace is still down 30% from pre-pandemic levels. The agency overseeing all three needs to look at spending before demanding $1.5 billion from taxpayers.
Residential permits across Chicago remained low in 2024, and efforts to increase housing on existing lots have been put off. Some of Chicago’s aldermen want to maintain power over their wards, including thwarting a popular housing solution.
The Illinois General Assembly passed seven bills that expand the ability of professionals to work in Illinois. Lawmakers need to keep going and reduce the number of government permission slips needed to earn a living.
Illinois saw 1,782 mass layoffs in June. Two merged Chicago job search firms, Monster and CareerBuilder, is sending 390 workers searching for new jobs.
Despite Illinois experiencing job growth in some sectors, it remains one of the states with the highest unemployment rates. It’s been that way for 66 of the 77 months J.B. Pritzker has been governor thanks to high taxes and too much state spending.
This legislative session members of the Illinois General Assembly passed a bill to make it easier to sue out-of-state businesses and a bill that would prevent state agencies from adopting eased workplace regulations. Illinois’ business climate is bad, but these bills could make it worse.
Illinois companies announced 1,477 mass layoffs during May. The highest concentration of cuts impacted Champaign after one of the state’s largest health insurers, Health Alliance, announced it would end coverage and halt operations.