Illinois Economic Review - February 2017

March 22, 2017

Illinois Economic Review - February 2017

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The Monthly Illinois Economic Review contains information on national, statewide, and local economic performance by measuring job growth, unemployment, and business activity. Highlights from the February report:

  1. Job growth in Illinois over the last few months has plummeted, compared to both the Rest of the Midwest and the US as a whole; the twelve-month gain was one-fifth the rate for the US as a whole.
  2. Non metro areas lost jobs in January, offsetting gains in metro areas
  3. The 12-month forecast shows that Illinois is likely to experience an employment increase between 2,600 and 25,100 by January 2018. The greatest increase is likely to occur in Education & health (13,100 more jobs), while the largest decline would happen for Manufacturing (17,500 less jobs). 
  4. The state of Illinois now has a net gain of 37,800 jobs since the beginning of the recession in December 2007.  Given Illinois’ economic performance of late, recovery to the prior peak (adjusted for changes in labor force participation and population growth) recorded in 2000 will probably take more than five years.

 


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Research Area: Economic Policy

Policy Initiative: Illinois Economic Review

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