SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Today’s numbers are bad, too

Friday, Jan 10, 2014

* Moody’s Analytics ranks Illinois dead last among the 50 states for projected 2014 job growth. The firm is predicting a growth rate next year of just 0.98 percent. Click on the pic for the full interactive map…

Indiana is ranked 25th at 1.60 percent. Wisconsin is ranked 32nd at a projected 1.49 percent growth for the year. And Michigan is 27th at 1.55 percent 2014 projected growth.

- Posted by Rich Miller        


25 Comments
  1. - RonOglesby - Friday, Jan 10, 14 @ 11:25 am:

    there are tons of things that go into growth in those numbers. If you have a second this is an article on Cali, (SHORT) but think about how this same type of stuff applies here in Illinois…
    http://www.bloomberg.com/news/2014-01-08/for-small-businesses-small-matters.html

    Time to make changes to your business? rules around changes, law suits, etc, etc. Business friendly is just not some simple tax rate change or tax rebates to specific companies. We need small companies starting and growing here to change these numbers.


  2. - Ahoy! - Friday, Jan 10, 14 @ 11:27 am:

    Since the legislature listens to Moody’s when it comes to bonds, maybe they will listen to them when it comes to this as well and finally do something about our poor business climate?


  3. - wordslinger - Friday, Jan 10, 14 @ 11:39 am:

    Looks like we’re the shortest pygmy in the Midwest, which ain’t exactly gangbusters.

    Except Minnesota at 12. What’s going on there?


  4. - walker - Friday, Jan 10, 14 @ 11:40 am:

    Cannot deny reality.

    But as Ron says, let’s not settle for simplistic solutions (like taxes), and let’s focus on the real growth engines (like small companies).


  5. - All Business - Friday, Jan 10, 14 @ 11:44 am:

    Illinois already has all of the jobs. The other states need jobs, so they will do anything to get them. So I guess we should be greatful.


  6. - Just Observing - Friday, Jan 10, 14 @ 11:49 am:

    We can’t just look at state government for solutions… local governments must also be proactively reforming their regulations to make conducting business easier, more transparent, and predictable.


  7. - Formerly Known As... - Friday, Jan 10, 14 @ 11:52 am:

    This could be the nudge we need to reach dead last in unemployment rate among the states in 2014.

    Illinois… #1 with a bullet.


  8. - RNUG - Friday, Jan 10, 14 @ 11:53 am:

    Given these numbers, maybe Rutherford is on to something with his desire to grow jobs. Now if the desire could be translated into effective policy …


  9. - in absentia - Friday, Jan 10, 14 @ 11:56 am:

    When government is constantly involving itself in business’ activities, the private sector freezes until order is maintained. Uncertainty is the biggest drag on the private sector. Keep the G.A. out of business, and it will thrive. Until then IL will maintain its low rank in job incubation.


  10. - PublicServant - Friday, Jan 10, 14 @ 12:02 pm:

    On the other hand, Illinois added more jobs than all but 11 states. See. Just depends on how you look at it.


  11. - wordslinger - Friday, Jan 10, 14 @ 12:07 pm:

    –When government is constantly involving itself in business’ activities, the private sector freezes until order is maintained. Uncertainty is the biggest drag on the private sector.–

    Where do you get this stuff?

    Has there been some great sea-change in GA interference since Dec. 2008, when the unemployment rate was 4.4%?

    The idea that the General Assemply can serve as some sort of thermostat that can make adjustments in a global economy is just kooky.

    http://ycharts.com/indicators/illinois_unemployment_rate

    Businesses grow when they sell. If they’re not selling, they’re not growing. Consumers drive sales. If they’re not buying, you’re not growing.

    Outside of the Chicago Metro, the Illinois economy is dominated by agriculture, which has been shedding jobs for decades.

    What are the job-growth opportunities in an ag economy?


  12. - PublicServant - Friday, Jan 10, 14 @ 12:07 pm:

    Err, I mean projected to add…sorry. And Illinois is in the top quarter of states in number of new jobs projected to be created.


  13. - Now What? - Friday, Jan 10, 14 @ 12:09 pm:

    Job growth should also include a snapshot of salary/wage earnings, specifically since the fastest growing areas of national job growth are also low wage paying jobs (not careers). The fear of jobs returning, and a dicey argument to make, means that we’ve cheapened labor to compete. A 21st century labor movement needs to recognize this unfortunate trend. Don’t know if they know how to or can.


  14. - Formerly Known As... - Friday, Jan 10, 14 @ 12:17 pm:

    Obviously, there is only one sure-fire formula to jump-starting our job growth. Illinois must

    - raise the minimum wage
    - raise taxes… or at least extend the “temporary” tax increase about to expire
    - help pick winners and losers in private enterprise by continuing our corporate welfare handouts
    - do nothing to address our absurd corporate tax system, where many companies pay 0% while mom-and-pop pay through the nose

    Magic 8 Ball sez: “Signs point to yes”. /s

    This is shaping up to be a long year.


  15. - Jim'e' - Friday, Jan 10, 14 @ 12:28 pm:

    I agree with PublicServant; its not the percentage, but number of jobs, and type of jobs. My guess is that WI and IN, which will create less jobs, are also creating jobs of lesser salary and skills.


  16. - Willie Stark - Friday, Jan 10, 14 @ 12:36 pm:

    And, of course, these are only projections. Put a note on the calendar to check back come Jan 2015 so we can revisit this post and see how predictive Moody’s really was. As a reason for optimism, in December, Fred Giertz’s flash index reached its highest level since April 2007 (http://igpa.uillinois.edu//flash-index/2013/december). Important to remember, so many variables and factors influence economic outcomes that any forecasts, whether for the stock market, bond prices, GDP, etc. have to be taken with a grain of salt. No one knows the future.


  17. - Grandson of Man - Friday, Jan 10, 14 @ 12:46 pm:

    The December jobs numbers were bad today. I’m hoping it’s an aberration, in the context of other recent positive data. Illinois has had recent positive jobs numbers.

    I think we laid a good foundation in 2013 for our state’s future. We seriously began pension reform and passed MMJ and SSM. Indiana, the darling of some, is trying to pass a constitutional amendment to ban gay marriage. Do you want to live in a state that passes this type of legislation?

    We should start by raising the minimum wage, I believe, and then consider legalizing marijuana.


  18. - RonOglesby - Friday, Jan 10, 14 @ 12:52 pm:

    Looking at raw numbers only to find something good to say will lead us no where. If you ahve two states, one with 10M people and one with 6M and the 12MIL edges out the 6 Mil by a few thousand jobs you are in trouble. Your growth in jobs needs to keep up with population…

    These numbers in the article do not take into account the hole that Illinois is in in existing unemployment or % not in the workforce.

    Being last in the list in projected growth and seeming to have the worst unemp rate (http://www.ncsl.org/research/labor-and-employment/state-unemployment-update.aspx) of our surrounding states we need to start looking for fixes to our mind set, not some way to spin the numbers. Spinning numbers is how we got here.


  19. - Judgment Day - Friday, Jan 10, 14 @ 12:53 pm:

    You want to create more job growth?

    FOCUS on issues like that $70 mil advanced manufacturing grant from DARPA that’s being fought over between the U of IL - Urbana/Champaign and Huntsville, Alabama.

    We ought to tell our Congressional delegation (both sides) to either get it done and get the grant, or don’t come back home (Re: Sparta; ancient Greece - “With your shield or on it”). You wanted the job, ran for it, got it - so bring the grant back home!

    This DARPA grant is the type of project that kickstarts greater things.


  20. - Formerly Known As... - Friday, Jan 10, 14 @ 1:17 pm:

    Percentages, ratios and per-capita measures are important in circumstances like this as a gauge of underlying health and wealth.

    The reasons for this are simple: large population states might create more jobs in sheer # than smaller population states, but they have to in order to survive and thrive.

    Emphasizing raw #’s in cases like this, rather than emphasizing ratios, can be sorely misleading.

    Illinois better create more jobs than, say, Rhode Island. Because we have to in order to support our higher expenses, broader public services, larger numbers of elderly and disabled populations, and so on.


  21. - Demoralized - Friday, Jan 10, 14 @ 1:31 pm:

    If we would only lower the minimum wage . . .


  22. - Formerly Known As... - Friday, Jan 10, 14 @ 2:14 pm:

    === Except Minnesota at 12. What’s going on there? ===

    I wondered the same thing. Then I saw:

    === If we would only lower the minimum wage ===

    It turns out Minnesota is the only one of those states with a minimum wage rate lower than the federal.

    Not saying that is the only possible explanation but, sadly, it may be one.


  23. - Name Withheld - Friday, Jan 10, 14 @ 2:22 pm:

    Has Moody’s been talking to Ty Fahner again?


  24. - wordslinger - Friday, Jan 10, 14 @ 2:26 pm:

    FKA the vast majority of workers in Minnesota are covered by the federal rate.

    Louisiana, Arkansas and Mississippi have no minimum wage laws. Not exactly industrial powerhouses.


  25. - Formerly Known As... - Friday, Jan 10, 14 @ 3:51 pm:

    Thanks, Word. I used the Dept of Labor’s chart as a source. All it indicates is Minnesota as 1 of only 4 states below than the Federal level (one of only 4 states in red). It doesn’t really note or indicate the important point you mention (which I assume is accurate). So odd they wouldn’t clarify that.

    www.dol.gov/whd/minwage/america.htm


Sorry, comments for this post are now closed.


* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............

...............

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * The Week in iPhone Cases: Extreme protection from Laza, a music-inspired case from Anvil, and more!
        * OnePlus to be available in all European Union countries
        * LG G4 to be “radically different”, might be the last G
        * How to manage cellular data usage on your iPhone and iPad with iOS 8
        * Poll: MWC 2015 Microsoft news
        * Samsung releases official hands-on videos for Galaxy S6 and S6 edge
        * Acer now to “ship” Swype virtual keyboard to selected devices

        * Google Cardboard: Virtual Reality Sets Sights on the Mainstream
        * Fitbit Gets Even More “Fit” by Acquiring FitStar Personal Training App
        * Chelsea Instantly: Kara Swisher and Peter Kafka Chat With Netflix Star Chelsea Handler
        * Apple iOS 8 Adoption Now At 75 Percent
        * Stryd Wearable Power Meter For Runners (video)
        * Google Releases Standalone PDF Viewer, For Those Without Google Drive
        * Barriers to Moving Critical Workloads to Public or Hosted Cloud

        * First impressions from the White Sox's first spring training game
        * Konerko humbled by Lifetime Achievement Award
        * Anderson focused on becoming top-notch shortstop
        * Putnam preparing for season with new perspective
        * Quintana comfortable, efficient in White Sox rotation
        * Alexei's 3 RBIs spark White Sox in spring opener
        * Hahn's plan to reshape White Sox slow to boil

        ...............


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        March 2015
        February 2015
        January 2015
        December 2014
        November 2014
        October 2014
        September 2014
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Normal City Council candidates address laborers..
        * Rauner pushes 'right to work' as 'voter empower.....
        * When These GOP Governors Run for President, Rem.....
        * B-N school board candidates face off at forum..
        * Bushnell may consider alternative revenue in li.....
        * As he seeks Wilson's runoff endorsement, Mayor .....
        * Rauner names commission to reduce prison popula.....
        * Rauner appoints Kelly to commission aimed at re.....
        * Monmouth would lose $660,000 in revenue under R.....
        * Children’s Group: Poverty Rates in Illinois Lik.....


        * Lincoln carriage heading from South Bend to Washington, DC
        * Cornel West cancels speech at U of Illinois over Salaita
        * Illinois man gets 12 years for selling heroin
        * 1 killed in blaze at Rolling Meadows apartment building
        * Sleet, snow pummel Evansville area
        * Court monitor says IDOT should clean house on hiring rules
        * Bankrupt Caesars unit gets court's OK to use cash, for now
        * Family of man killed by Chicago police sues the city
        * Chicago mayor says state budget is 'wrong approach'
        * Judge grants delay of medical marijuana permit in Kankakee

        * Court monitor says IDOT should clean house on hiring rules
        * Senate President Cullerton: We're not stalling
        * Judge grants delay of medical marijuana permit in Kankakee
        * State's medical marijuana patients now number 1,600
        * Illinois hires firm to evaluate shuttered Eagle Creek Resort
        * Committee approves plan to plug some budget holes
        * Local men plead guilty to stealing millions from Illinois EPA
        * State superintendent warns of 'perfect storm' for school districts
        * Committee to consider plan for plugging budget holes
        * New state lawmaker Butler officially sworn in

        * Doo wop, dining for a cause, Lyric's 'The Passenger'
        * This startup aims to turn augmented reality into reality
        * AbbVie buying cancer drug maker Pharmacyclics for $21 billion
        * IDOT should clean house on hiring rules, court monitor says
        * Wisconsin committee passes Walker-backed bill targeting labor


          * Extra-alarm fire spreads to three homes: 'It was terrifying'
          * Cornel West cancels speech at U. of I. over Salaita dispute
          * Two babies' bodies found stashed in Gary funeral home ceiling
          * Prairie-style home that sold for $10 to be moved in Evanston today
          * Park Ridge Mayor David Schmidt dead at 57
          * 1 dead in 3-alarm blaze in Rolling Meadows
          * Lake Superior ice caves reopen today
          * Woman accused of Facebook chatting before crash that killed 3 kids
          * Man critically hurt in South Chicago shooting
          * Police warn of armed robberies in Bronzeville


          * Bedrock 66 Live! Features Celtic And Psychedelic Rock
          * "Don't Get Used To This" Breezy Budget Hearing
          * Lawmaker Suggests Eliminating Tuition Waivers For University Employees' Children
          * Profitable Exelon Seeks Legislation To Save Unprofitable Nuclear Plants
          * Let's Talk Kids - "A Future President"
          * Sexting Laws Could Be Added to School Handbooks
          * McDonalds to phase out chicken raised with certain antibiotics
          * Illinois Hires Firm To Evaluate Shuttered Eagle Creek Resort
          * Combat Vets Recreate Lincoln's Hearse
          * 2015 Budget - CapitolView


          * Bernard Schoenburg: Butler will listen to many before taking tough votes
          * Rep. Mark Batinick: Illinois can find savings in workers' comp reforms
          * George Will: Stopping the IRS
          * Eugene Robinson: Boehner's sorry spectacle
          * Court monitor says IDOT should clean house on hiring rules
          * Senate President Cullerton: We're not stalling
          * Judge grants delay of medical marijuana permit in Kankakee
          * State's medical marijuana patients now number 1,600
          * Illinois hires firm to evaluate shuttered Eagle Creek Resort
          * Our Opinion: Conquering stress, burnout important for all


          * Homeless living at campsite told to move
          * Public information
          * Columnist argues against himself
          * Where are facts to back up opinion?
          * Grand reopening
          * Area history, March 5, 2015
          * This day in history: March 5, 2015
          * 'Tis Pity' not your typical love story
          * Notes-Worthy: Jim Means of Killer Bee Honey
          * Frank's Faves, March 5, 2015


          * Naperville bar stabbing victim testifies to drinking, not recalling much
          * Man steals $500 of vodka from store
          * Libya says 11 oil fields non-operational after IS attacks
          * Cavani leading PSG's charge to title in French league
          * European stocks advance ahead of update from ECB's Draghi

          * Lipinski: National art competition offers ...
          * Congressman Lipinski Says Negotiations wit...
          * Lipinski accepting submissions for contest...
          * Congressional art contest for students set...
          * Congressional Letter Shows Bipartisan Supp...
          * Lipinski nominates 22 to service academies...
          * Editorial: Is the Ice Cracking? | Transpor...
          * Rep. Lipinski Leads Letter Urging House Le...
          * Rep. Lipinski Announces $2.9 Million Feder...
          * Shortline tax credit legislation enters Ho...

          * War authorization in trouble on Hill...
          * Will: Stopping the IRS...
          * Supreme Court sharply split over major cha......
          * No clear way forward on ISIL war authoriza......

          * McConnell fast-tracks bill to approve Iran......
          * Netanyahu speech devoid of details...
          * Day of partisan tensions as Netanyahu speaks...

          * Rahm Emanuel and Jesus Garcia ‘dead even’ in Chicago mayor runoff
          * Illinois Watchdog Radio - Live on IR
          * Militarized cops train to storm houses in Illinois
          * Brass Tacks on Immigration
          * The Homan Square Black Site and the Chicago daily press.
          * Rahm screams at mental health activists, “YOU’RE GONNA RESPECT ME!”
          * How did Illinois' congressional delegation vote on last week's DHS measure?
          * Peters blasts Democrat response to Netanyahu speech
          * Why I think Judy would be “crying” at political partisanship done in her name
          * Juan Salgado, Executive Director Of Instituto del Progreso Latino


          * IEMA Urges People to Prepare for Severe Weather - Tornadoes, floods and severe storms can happen any time of year
          * IDHS helps more than 5,000 individuals with disabilities find jobs - Program offers necessary tools to earn a living wage and become more independent
          * 24th Anniversary Desert Storm Remembrance Ceremony
          * Illinois Department of Human Rights Announces 2015 Spring Training Schedule
          * Snow and Freezing Rain to Impact Travel in Illinois - IDOT Crews Prepared to Battle Winter Weather this Weekend




              Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller