Almost all metropolitan areas across Illinois saw an increase in their unemployment rate in July. According to the latest seasonally adjusted unemployment numbers from the U.S. Bureau of Labor Statistics, eight of Illinois’ 10 Metropolitan Statistical Areas, or MSAs, saw their unemployment rates increase. The only region to experience a drop was Chicago, while the...
Much to the delight of many Chicago beer enthusiasts, the city’s craft beer market has grown in recent years. New Chicago breweries such as Revolution Brewing, Half Acre Beer Company and PipeWorks Brewing are making inroads on traditional brewers. The craft beer revolution is taking root throughout the rest of the state as well. Rolling Meadows Brewery in Springfield and Destihl Brewery in Bloomington...
Two weeks ago I took in the demise of Detroit with my own eyes. I was fortunate to be with my colleague, Detroit native Paul Kersey. As we embarked on the trip, he told me “Detroit is a story that must be told.” He was right. I’d seen the pictures and knew the history, but...
A new study by the Cato Institute in Washington, D.C., takes a state-by-state look at the value of the welfare benefits package. While no one in America receives welfare benefits from all 72 federal welfare benefits programs that provide direct cash or in-kind assistance, long-term welfare beneficiaries are more likely to receive benefits from multiple programs. Highlights...
Illinois has the second-highest unemployment rate in the nation, a rank the state has held for five months now, behind only the state of Nevada. Illinois’ unemployment rate rose to 9.2 percent in July, up from 9.1 percent in June, according to the Bureau of Labor Statistics, or BLS. Today’s BLS release highlights how poorly...
When people don’t like the direction in which their state is headed, they often vote with their feet. That’s precisely what Illinoisans did during the last decade, and they took their income with them. Illinois netted a loss of more $20 billion to other states through the out-migration of its residents from 2000-2010, according to...
If you want to start a small business in Illinois, there are different forms your new business can take. For example, you can have a sole proprietorship, a partnership, a corporation or a limited liability company, or LLC. The LLC is a relatively recent innovation that has advantages over the corporate form, and it can...
Recently, unions have been encouraging fast food workers to hold out for a $15 an hour wage in Chicago and other cities. Proponents have argued that fast food employees deserve more than they have been getting, and that the pay boost will improve the economy. But if they succeed, a different effect could take place: the...
The Illinois Department of Employment Security, or IDES, announced today that the Illinois unemployment rate increased to 9.2 percent in July from June’s revised rate of 9.1 percent. Illinois’ unemployment rate is still 1.8 percentage points above the national average, which fell to 7.4 percent in July. The number of unemployed Illinoisans now stands at 604,700, up...
More than 2 million Illinoisans – 16 percent of the state’s population – are on food stamps according to the U.S. Department of Agriculture. Supplemental Nutrition Assistance Program, or SNAP, enrollment numbers continue to rise in Illinois, and have been continuing to increase across the nation. Illinois added nearly 20,000 people to food stamp rolls...
I grew up in Detroit, and as far back as I can remember my hometown was in trouble. But if there was a time when people just gave up on the place, it was probably October 30, 1984 — just a couple weeks after the Tigers won the World Series — when fires on “Devil’s...
As the Detroit bankruptcy unfolds, the attention has started to shift to other big cities such as Chicago. Detroit and Chicago differ in countless ways, but regardless of the disparities, one unfortunate characteristic is shared by both: they’ve been successful in scaring away entrepreneurs. Between 2010 and 2012, Detroit was tied with Philadelphia for dead...
Running a competitive business can be difficult – unless you have friends in government to help squash competition for you. In late May, Gov. Pat Quinn signed House Bill 2606 into law, which amended Illinois’ Liquor Control Act to prohibit out-of state brewers, distilleries and other alcohol manufacturers from owning any part of an alcohol distributor in...
Back in the late 1980s I lived in northwest Detroit (at Seven Mile and Lahser) and worked downtown. I remember a t-shirt slogan that was very popular at the time: “I’m so bad I vacation in Detroit.” It was fitting. The few tourists who visited downtown saw a rundown commercial district with few shops or...