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.


* Unions file suit in St. Clair County
* Reader comments closed for the holiday weekend
* AG Madigan files TRO
* In re James Dimas
* Question of the day
* Weirdest. Oppo Dump. Ever.
* Big bucks reported by Zopp, Raja
* LIVE Comptroller Munger press conference coverage
* Yet another clock starts ticking down
* Hey, Cardinal fans...
* Rauner makes cheery visit to Illinois State Museum
* The Tier 2 difference
* *** UPDATED x4 *** Attorney General goes to court
* Credit Unions – Protecting Financial Futures
* GOP legislator wants "temporary, balanced budget"
* Food for thought
* The blame game
* Meanwhile, in the real world...
* When Indiana invaded Illinois
* 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

          
        * Dropbox to offer more free storage if users improve their account security
        * Upcoming Samsung Galaxy A8 appears in South Korean brochure
        * Infographic: How to use Samsung’s S Health app to achieve your fitness goals
        * OnePlus has sold out of Google Cardboard VR headsets
        * Top 5 Android Launchers in 2015 (Video)
        * LG G2 Android Lollipop 5.1.1 update allegedly in the works, coming in the next months
        * Sony Xperia Z3+ available in the US through Amazon

        * Check Out The Latest High-End Gaming PC From iiyama
        * Take Stunning Full HD Video With JVC’s Latest Quad Proof Full HD Camcorder
        * Volvo Want To Make Cars Safer For Kids
        * Japanese Court Orders Google To Scrub Records On Man’s Arrest
        * Online Streaming Doubles In 2015, Digital Downloads Sees 10% Drop
        * Apple Music Is Not Adding DRM To Songs You Already Own
        * Eminem Debuts “Phenomenal” Music Video Exclusively On Apple Music

        * Danks backs up comments with strong outing
        * Abreu's HR all Danks needs against Orioles
        * White Sox 1, Orioles 0: John Danks, out of nowhere
        * Samardzija takes on Orioles in holiday matinee
        * Abreu's HR all Danks needs against Orioles
        * White Sox sign first-round pick Fulmer
        * Sale given extra day of rest, will face Buehrle

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


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

        Archives
        July 2015
        June 2015
        May 2015
        April 2015
        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


        * Illinois mired in uncertainty over budget - Voc.....
        * Bill would allow cameras in Illinois nursing ho.....
        * Bill would allow cameras in Illinois nursing ho.....


        * Illinois city condemns childhood home of actor Dick Van Dyke
        * Bill would allow cameras in Illinois nursing homes
        * Sandbagging effort keeps floodwater at bay in Meredosia
        * Woman known for trying to sneak on planes released from jail
        * Danville condemns childhood home of actor Dick Van Dyke
        * Thousands truckin' to Chicago for final Grateful Dead shows
        * 8 shot even as Chicago officers work long hours over holiday
        * Could insulin pills prevent diabetes? Big study seeks answer
        * Without a budget, providers prepare, officials go to court
        * Union lawsuit seek full pay despite no Illinois budget

        * Bill would allow cameras in Illinois nursing homes
        * State employee lawsuit seeks assurance of full pay despite no budget
        * U of I freezes administration hiring over budget
        * Attorney General Lisa Madigan seeks court ruling on state payments during budget impasse
        * Illinois EPA: State has landfill capacity for 21 more years
        * State lawmakers point fingers over budget impasse; temporary budget in limbo
        * Former Illinois treasurer employees under Dan Rutherford sue over firings
        * Lawmakers point fingers over budget impasse; temporary budget in limbo
        * Illinois medical marijuana patients now number 2,600
        * Budget impasse shuts down Lincoln's Challenge program for troubled youths

        * Leo Burnett loses Special K
        * Aetna to buy Humana in $37 billion deal
        * Illinois weathers second day without state budget
        * Yelp calls off sale talks—for now
        * How a Reddit rally generated huge turnout for Sanders in Madison


          * Chicago police officers sue over tattoo cover-up rule
          * 1 killed, 2 wounded in shootings
          * City pays $1.2 million in penalties to paramedics
          * Madigan is face of Democrats in battle with Rauner
          * Pilot killed after crashing small plane in DuPage Forest Preserve in Bartlett
          * Mayor Emanuel faces tough trek toward 'grand bargain' for shoring up CPS
          * Follow our live coverage of the Fourth
          * Man who exposed himself to girl sought


          * Coping while black: A season of traumatic news takes a psychological toll
          * Rauner proposal would advance $450M to help Chicago schools
          * For same-sex marriage opponents, the fight is far from over
          * Emails show Emanuel, top officials aware of Clinton's private address
          * After pension payment, Chicago Public Schools to make $200M in cuts
          * CPS, Emanuel warn of deep cuts, layoffs to school district
          * After marriage equality, what's next for the LGBT movement?
          * The night Chicago politicians spent punching each other in the face
          * The legacy of Willie Dixon on his 100th birthday
          * Preckwinkle may reevaluate sales tax plan if Springfield acts on pensions


          * Kenny Hartman: EPA stifling input on renewable fuel changes
          * Bill would allow cameras in Illinois nursing homes
          * Charles Krauthammer: The worst agreement in U.S. diplomatic history
          * State employee lawsuit seeks assurance of full pay despite no budget
          * Our Opinion: Springfield's toilet paper caper exposes the worst and best in people
          * Esther Cepeda: Adding a woman to $10 bill an empty gesture
          * U of I freezes administration hiring over budget
          * Attorney General Lisa Madigan seeks court ruling on state payments during budget impasse
          * Illinois EPA: State has landfill capacity for 21 more years
          * Our Opinion: Winslow looks to heal divisions


          * Washington brothers achieve Eagle Scout rank in Morton ceremony
          * Anderson advances, Ram bows out
          * Langley still atop tourney
          * Decision day for five-star guard
          * Rice, Egwu dream big
          * Area soccer aficionados predict Cup final
          * Fireworks: Champaign Country Club
          * Fireworks at the Champaign Country Club
          * Sports Talk 07-03-15
          * UPDATED: Three burned when car hits Lil' Porgy's


          * Illinois State Police add July 4 patrols, roadside checks
          * Peoria ready to welcome food trucks to downtown, other areas
          * Ex-prosecutor's request to move his own murder trial delayed
          * Taiwan stands up to China with World War II military parade
          * Chafee's campaign leaves some NH Democrats a bit puzzled

          * House lawmakers overcome hurdle on key tra...
          * Rodney Davis talks funding with Bloomingto...
          * The agency that fought Illiana gets a new ...
          * Rep. Dold takes educational cruise down Ch...
          * Lawmakers decry high turnover rate of VA h...
          * CBD Oil, and politics
          * Simon considering state Senate bid
          * Killer Congressman Tom MacArthur trying to...
          * Shutdown? State may not notice
          * Rep. Bob Dold

          * Durbin, Kirk working together on U.S. atto......
          * Cuba Embassy - RiverBender.com...

          * Durbin, Kirk working together on U.S. atto......

          * Geek Gets Up Early Saturday Morning for WGN Radio 720 AM
          * Parking Patrons Risk Boot At Wilmette Dairy Queen
          * Will we have a state government ‘shutdown’ where nothing shuts down?
          * Bang for the Bucks
          * EXTRA: What would Paul Reuschel hot dog be? Biittner or Jose Cardenal?
          * Kirk disappointed Ex-Im Bank will expire at midnight
          * Where's Weyermuller? With Donald Trump in Chicago
          * NRA and Illinois State Rife Association endorse LaHood
          * Where's Weyermuller? With Donald Trump in Chicago
          * Kathy, Linda & Ron: A Love Story


          * State, Teamsters Reach Tentative Agreement - Workers at IDOT, DHS, IDES, and CMS in Cook County to Vote on New Contract
          * Governor Rauner Extends Tax Filing and Payment Deadlines for Businesses and Individuals Impacted by Recent Tornado - Deadlines Pushed to December 31, 2015
          * Illinois EPA Releases Annual Report on Landfill Capacity
          * IDNR Urges Public to Leave Fireworks Displays to Those Who Are Licensed and Trained - Fireworks Show Sponsors Reminded to Check Credentials of Fireworks Vendors
          * Governor Receives Initial Criminal Justice Commission Report




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