Latest Post | Last 10 Posts | Archives
Previous Post: ¯_(ツ)_/¯
Next Post: SUBSCRIBERS ONLY - Today’s edition of Capitol Fax (use all CAPS in password)
Posted in:
* This story is ostensibly about the presidential race, but put that aside…
With trade and prosperity prominent in the campaign, Yahoo Finance analyzed economic data for each state during the last 10 years to determine which states seem to be feeling the most pain from globalization and the movement of jobs overseas. For each state, we calculated the change in manufacturing employment, total employment and income during the last 10 years. Then we ranked the states on their overall economic performance. (Full methodology is at the end of this story.) These 10 states are hurting the most
* We are, of course, in the top ten…
Ugh.
* Methodology…
We calculated 10-year growth in overall and manufacturing employment using statewide data for the month of December in 2005 and 2015. Income data is also from December of each year, though those numbers date to 2007, the first year the figures were available state-by-state. Income figures are not adjusted for inflation. The unemployment rate for each state is the most recent. In each of the four categories, we ranked the states (plus the District of Columbia) from 1 to 51, with 1 being best and 51 being worst. Then we added those 4 numbers together and ranked the states by the aggregate of the four rankings. We weighted all categories equally.
posted by Rich Miller
Monday, Mar 14, 16 @ 3:04 pm
Sorry, comments are closed at this time.
Previous Post: ¯_(ツ)_/¯
Next Post: SUBSCRIBERS ONLY - Today’s edition of Capitol Fax (use all CAPS in password)
WordPress Mobile Edition available at alexking.org.
powered by WordPress.
Free Trade ain’t free.
Comment by Beaner Monday, Mar 14, 16 @ 3:14 pm
IL is in the top 10, but least IL is not ‘the worst’ state on jobs.
Comment by Mama Monday, Mar 14, 16 @ 3:20 pm
Pretty geographically diverse. Also diverse in their state “economic development” policies.
Comment by walker Monday, Mar 14, 16 @ 3:21 pm
I wonder if those numbers for IL jobs would be different if one compared Chicago with central & southern IL.
Comment by Mama Monday, Mar 14, 16 @ 3:22 pm
mama i would love to see numbers in that! it would be awesome if they broke everything down like that. I80 and north, area between I80 and I64, and I64 and south
Comment by Vet Monday, Mar 14, 16 @ 3:25 pm
Looking at those states, all I can say is, thank God for our higher education system. Just think where Illinois would be without it.
Oh wait. Nevermind.
Comment by 47th Ward Monday, Mar 14, 16 @ 3:28 pm
None of these are right-to-work states, so what do you expect?
Comment by 47th Ward Monday, Mar 14, 16 @ 3:43 pm
If I’m Sanders I would have went to Rockford, Quad Cities,Peoria, Metro East and Carbondale. Guaranteed to earn free media in five different media markets and keep hitting the same theme that won him Michigan: free trade agreements. Winning outside of Detroit helped him win. But with an unpopular Chicago mayor tied to Hillary campaigning in Chicago makes sense too. Be a fun night tomorrow from the federal to state level.
Comment by Almost the Weekend Monday, Mar 14, 16 @ 3:46 pm
- Mama - Monday, Mar 14, 16 @ 3:22 pm:
I wonder if those numbers for IL jobs would be different if one compared Chicago with central & southern IL.
Chicago metro is doing quite well. Much better than the state as a whole. Job growth was almost 2% last year in the metro area, vs. about 1% for the state as a whole.
Comment by Tone Monday, Mar 14, 16 @ 3:48 pm
Job growth in Chicago metro was 0.4% from 2005-15, so again double the state as a whole.
Comment by Tone Monday, Mar 14, 16 @ 3:50 pm
How did Mike Madigan get to all of those States?
Comment by Anonymous Monday, Mar 14, 16 @ 3:50 pm
Actually there are States that are RTW-
Alabama, Nevada, Mississippi, and Florida I won’t include West Virginia because they just became RTW this year.
Comment by DuPage Bard Monday, Mar 14, 16 @ 3:56 pm
===Actually there are States that are RTW===
Unpossible.
Comment by 47th Ward Monday, Mar 14, 16 @ 3:57 pm
== Ugh ==
Meh.
Been clear for a while that mfg has been going downhill & IL has relied heavily on mfg. No news here.
Could pick 4 other factors & get a very different ‘view’ of IL.
Comment by sal-says Monday, Mar 14, 16 @ 4:32 pm
This is clear evidence that the TA agenda must be passed immediately. /s
Comment by Huh? Monday, Mar 14, 16 @ 4:38 pm
Give this report an incomplete. Boeing, McDonalds, Caterpillar , Abbott Labs,Archer Daniels Midland and untold numbers of soybean
producers since China decided to outsource
to the US and Brazil. To deny the winners
in globalization sows anger rather than under-
standing and doesn’t help to plan going forward.
Comment by Illinoisvoter Monday, Mar 14, 16 @ 5:19 pm
–Pretty geographically diverse. Also diverse in their state “economic development” policies.–
Indeed.
Aren’t the “economic” and labor policies of Alabama, Mississippi and Florida supposed to be the cure-all for what ails us, according to the governor and his ideological grifter chorus?
Illinoisans should be angry that the governor is willfully wrecking higher ed and social services while running up unprecedented GRF debt in pursuit of his snake oil agenda.
The idea that some central-planning wizards in Springfield can wave their wands and “create jobs” is lunacy.
You’d be laughed out of any university economics department in the country for spouting such nonsense.
To best deal and adapt on the state level with the uncontrollable vagaries of the global economy, do the real job you’re supposed to be doing in Springfield.
Education. Infrastructure. Public safety. Rule of law. General welfare.
That stuff isn’t even on the radar of the current administration. In fact, the Rauner crew is doing its best to wreck much of it.
Comment by wordslinger Monday, Mar 14, 16 @ 5:32 pm
Illinois is also in the top five in regressivity of taxes and fees, which imposes more pain on those who can least afford it.
Comment by anon Monday, Mar 14, 16 @ 5:35 pm
What’s interesting is that the remaining Rust Belt states of Indiana, Michigan, Ohio and Pennsylvania did not make the Top Ten.
In any event, the jobs are not coming back because most Americans cannot afford products incorporating US labor costs. And even if the current political demagogues managed to force some manufacturing back, the incentive to automate would eliminate the jobs in short order.
Where all the states and the federal government are deficient is in failing to clearly, loudly and repeatedly explain to their citizens that the concept of “work” is changing.
And as technology advances, we’ll need fewer and fewer people to create the goods and services we consume.
Comment by Cook County Commoner Monday, Mar 14, 16 @ 6:56 pm
We need to make stuff and it’s not free trade when forced to complete with a low wage country that subsidizes all its loss making exporters. No TA can change that Obama put a 200% tariff on Chinese Steel. We get that on everything we have a real TA. Its one time inflation but 2 million middle class jobs that create a positive feedback loop. It amusing to see Hillary Cruz and Kasich turn on this issue. Economics is pseudoscience. We were told all this free trade would make our lives better. Well look at the chart above. Falsified. It didn’t work. Lets try something new. make it here.
Comment by illinois manufacturer Monday, Mar 14, 16 @ 7:07 pm
Illinois lost employment in the manufacturing sector, but made up those losses in other jobs, while increasing income. Why should Illinois keep lower paying jobs just because they’re the ones people are used to?
Comment by Sam Random Monday, Mar 14, 16 @ 7:32 pm
== - sal-says - Monday, Mar 14, 16 @ 4:32 pm:
Could pick 4 other factors & get a very different ‘view’ of IL. ==
I’ll bite:
1. Corruption at the top. (Tops)
2. Debt. (Top 3)
3. Infrastructure condition (Top 10)
4. Total tax burden (?)
There may be more…
Comment by Cadillac Monday, Mar 14, 16 @ 7:40 pm
yes people cannot afford american made products anymore because THEIR GOOD PAYING MANUFACTURING JOBS WERE SHIPPED OVERSEAS..how can you possibly not understand that simple fact is beyond me
Comment by erick Monday, Mar 14, 16 @ 8:34 pm
Guess who is the only presidential candidate who has promised to shut down the TPP? I’ll give you a hint. His name rhymes with Sernie Banders.
Comment by CharlieKratos Monday, Mar 14, 16 @ 8:49 pm
In Illinois, the lowest-earning 20 percent paid 13.2 percent of their income in total state and local taxes, but the top 1 percent paid just 4.6 percent. That’s a 9.6 percentage-point difference.
Put a different way, as a share of what’s coming in, poor people paid three times as much as the super-rich, because of Illinois’ high sales tax rate, nongraduated income tax and other factors.
These are 2013 figures, before the income tax dropped back to 3.75%
It’s been discussed before on here but a giant step to take to a real “turnaround” in Illinois would be to pass a referendum to eliminate the flat tax and adopt a progressive tax similar to Wisconsin.
Comment by The Dude Abides Monday, Mar 14, 16 @ 11:49 pm
The numbers reflect the continuing transition in Illinois from a manufacturing state to a services state. That’s consistent with the trends in the US economy as a whole. What’s lacking in Illinois is an overhaul of our tax revenue structure to recognize that growth is in the service sector, not manufacturing.
Comment by muon Tuesday, Mar 15, 16 @ 5:42 am
People have lamented for years about how the best & brightest young people are leaving small Illinois towns. Facts like these, when added to the poison tonics being brewed by our governor, makes one wonder if we can even keep them in the state.
Comment by Stumpy's bunker Tuesday, Mar 15, 16 @ 7:05 am