Illinois’ unemployment rate remained at a stagnant 8.8 percent in October, unchanged since September and still far above the national unemployment rate of 7.9 percent. Adding only a paltry 4,800 jobs last month, the state has been stuck in neutral, at best.
Illinois’ neighbors, on the other hand, are watching their unemployment rates drop. They’re enacting positive growth policies, such as tax cuts and labor reforms. The average unemployment rate of Illinois’ neighbors dropped to 7.2 percent in October. That’s 1.6 percentage points lower than Illinois’ unemployment rate.
Wisconsin, in particular, continues to reap the benefits of its recent reform efforts, with unemployment dropping to 6.9 percent in October from 7.3 percent in September. And Iowa continues to lead the region with an unemployment rate of only 5.2 percent, the fourth lowest in the country.
Illinois’ poor public policies continue to be a drag on the economy. The failure of the state’s policies, particularly since the end of the recession, is visible in the widening gap between Illinois’ unemployment rate and that of its neighbors. ...More HERE
