Posted by Barton Lorimor (@bartonlorimor)
* One of the major credit rating firms has declared Illinois is no longer in a recession, and has started to recover…
“The housing market is picking up in Chicago,” Cochrane says. “The large service- and finance-based economy in Chicago also seems to be picking a little bit, and hiring is improving.”
Much of the improvement in Illinois’ economy is pegged to Chicagoland, but he says Downstate manufacturers could also soon see an improvement in exports overseas.
* Only the Decatur metropolitan area remains in a recession. Earlier this year, Decatur became the Illinois metro with the highest unemployment rate. It has an unemployment rate of over 13 percent, and one of the area’s larger employers has been looking to move for quite a while. Moody’s analysis says Decatur has affordable housing, but that there has been a slowdown in home sales and the availability of high paying jobs.
Nationally, the “Great Recession” ended in June 2009. Alabama and Wisconsin were the other states taken off of the watch list. Other states, like Delaware, remain…
Delaware remains at risk because of slow growth in the drivers of its economy, including banking, credit cards, pharmaceutical, chemical and business services, he said. Delaware, however, has taken issue with Moody’s assessment. “We believe Delaware’s future is more promising than Moody’s report would indicate,” says state Finance Secretary Tom Cook. He says employment will pick up this year as Bank of America has promised 500 new jobs over the next three years and Capital One has promised to hire 500 employees there by year’s end.