Business news

Institute of Government and Public Affairs, U of I

A monthly snapshot of the state’s economy shows growth in December was the slowest it has been since spring of 2013.

Fred Giertz, who compiles the index for the University of Illinois’s Institute of Government and Public Affairs, says it’s possible the state budget impasse contributed to the economic slowdown. He says it probably hasn’t played that big of a role so far, because the state is collecting less in taxes, leaving more money in consumer’s pockets, while at the same time not cutting back on spending.

Illinois Department of Employment Security / AP/WNIJ News

Unemployment dropped in most of Illinois' metro areas in November but most areas also lost jobs over the past year.

The Illinois Department of Employment Security said Wednesday in its monthly metro-area report that the jobless rate dropped in 12 metro areas last month, stayed the same in one and dropped in one.

The lowest rate was 5.2 percent in Chicago-Naperville-Arlington Heights. The highest was 7.7 percent in Danville.

Consumers may like the ability to shop online and avoid paying state and local sales taxes, and many online retailers may like the competitive advantage the arrangement provides them over “bricks and mortar” businesses across the country; but U.S. Sen. Dick Durbin, D-Ill. says the situation has a significant price.

“It’s really not fair to say to that store down the block that’s paying rent and paying property taxes and collecting sales tax [that] we’re going to put them at a disadvantage to their Internet counterparts,” Durbin said.

Good News On Illinois Job Front

Dec 14, 2015
ADP Research Institute

Non-farm jobs increased in Illinois during November.

Illinois added 6,200 private-sector non-farm jobs during November, according to the ADP Regional Employment Report. That’s more than any of the other five Midwest states.

Wisconsin added only 2,540 jobs last month.

The bad news is that the November Illinois growth is 580 jobs lower than the six-month average … but Wisconsin’s number dropped 1,140 jobs below that rolling average.

Susan Stephens / WNIJ

A massive project at the Chicago-Rockford International Airport is back on track, thanks to a collaboration by five local banks.