One-third of Illinois’ missing jobs are from the leisure and hospitality industry, but that sector’s COVID-19 pandemic recovery lags virtually every other state in the U.S.
Population decline has shrunk Illinois’ workforce and the relative size of the state economy. Attracting more workers from other states starts with lowering the cost of living, decreasing pension costs and debt, and improving the state’s social services.
Illinois declining population was partly responsible for lower growth housing values and Illinois slower recovery.
In the wake of the COVID-19 pandemic, Illinois’ economic recovery in 2021 lagged other states. A lack of in-person schooling, fewer economic opportunities and high taxes only exacerbated the ongoing population loss.
Illinois has the nation’s third-highest number of state regulations and double the U.S. average. Regulations make life hard for Illinois’ small businesses, where most Illinois jobs are created.
The nation recovered 85% of the jobs lost to the COVID-19 downturn, but only one metro area in Illinois beat the U.S. average. The Chicago area only recovered 64% of its jobs. Bloomington was one of just 11 U.S. areas to lose jobs last year.
With 251,900 jobs still missing since the pandemic began, Illinois’ job market is the least recovered among Midwestern states
Nearly 17% of the jobs held by Black Illinoisans prior to the COVID-19 pandemic are still missing, nearly triple the loss of white Illinoisans.
Despite adding 262,600 jobs in 2021, Illinois is still a long way off from a full recovery from the COVID-19 economic downturn.
Illinoisans fled at a record pace in 2021. The state lost 122,460 residents on net because of moves to other states.
Illinois, California and New York shrank the most and lost people fastest during the COVID-19 pandemic. Texas and Florida grew the most. Idaho, Utah and Montana grew the fastest.
While the start of the COVID-19 pandemic caused consumer spending to drop across the U.S., the decline was worse in Illinois. Gov. J.B. Pritzker’s harsher restrictions appear to be the culprit.
More Illinoisans fled for other states from July 2020-July 2021 than during any other year in recorded history, driving the state’s record population decline.
Illinois suffered the largest population decline in the Midwest and of neighboring states during 2021.