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* A 4.1 percent unemployment rate is setting their hair on fire…
With Illinois’ unemployment rate now tied for fourth worst in the country and the state having only added in the neighborhood of 2,500 jobs in May, Republican state Sen. Steve McClure says there have been warning signs for years.
“It shows that the attack against businesses by Gov. [J.B.] Pritzker and Democrats that has been going on for years is really taking a toll,” McClure told The Center Square. “Doing business is a struggle for many in this state and it’s not hard to see why that is.”
U.S. Bureau of Labor Statistics data shows that the state’s overall unemployment rate dipped to 4.1% in May, down one-tenth of a percent from the month before, but McClure argues that hardly tells the story.
If they’re gonna focus on unemployment rates, I’ll note that the pro-business bastion of Texas has the same unemployment rate as Illinois. And while Illinois’ unemployment rate has declined during the last twelve months, Texas’ rate has risen.
Minnesota’s May rate was 2.9 percent, and they’re hardly a conservative outpost.
But, really, both Texas and Illinois are less than a half a point higher than the national average of 3.7 percent.
We have our troubles, for sure. But screaming about the inadequacy of what is essentially full employment seems silly to me.
* Now, scroll all the way to the bottom of the Center Square story…
“And there’s no relief in sight,” added McClure, noting that the grocery tax and a second gas tax are set to kick in on July 1.
Sen. McClure voted in favor of doubling the Motor Fuel Tax rate in 2019 and tying it to inflation. Last year, McClure voted against the BIMP but did vote to temporarily freeze the Motor Fuel Tax and lower the grocery tax by a percentage point. [Note change.]
posted by Rich Miller
Wednesday, Jun 21, 23 @ 12:03 pm
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Meanwhile, the Federal Reserve Board is trying to tame inflation by raising interest rates, which they hope will increase unemployment and stop people from spending money. I’d say Illinois is doing pretty well during this era of perverse incentives.
Comment by Medvale School for the Gifted Wednesday, Jun 21, 23 @ 12:19 pm
Republicans in this State are not serious people. When they tell you that over and over, just believe them.
Comment by Lincoln Lad Wednesday, Jun 21, 23 @ 12:27 pm
“Doing business is a struggle for many in this state”
And many other businesses are doing just fine in this state.
businesses struggling is a feature of capitalism, not a bug. If you can’t survive, your competitor down the road will and they will eat your lunch in front of you while they are staring in your face.
It has to be incredibly exhausting to be a republican, to proudly push for policies that enshrine “survival of the fittest”, while at the same time complaining about the outcome for the least fit. Sure such an approach gives a never ending supply of things to complain about by its very nature, but sheesh it has to be exhausting.
Comment by TheInvisibleMan Wednesday, Jun 21, 23 @ 12:31 pm
Could someone run a bill requiring IL high schools and colleges to teach what the Labor Participation Rate is? With boomers aging out/jumping out of the work force it’s just as big a factor as the unemployment rate for the economy. Especially in this era of relatively low immigration flowing into Illinois.
https://fred.stlouisfed.org/series/LBSSA17
Everything is…something something?
Comment by ChicagoBars Wednesday, Jun 21, 23 @ 12:34 pm
A little more context:
The average unemployment rate in Cook County in 2022 was 5.0%
It’s now 3.4% I believe. That is huge, good news for the state. Because Chicago is the economic engine for Cook, which is the engine for Northeastern Illinois, which is the economic engine not just for the state but the entire Great Lakes region.
A few of the usual suspects in Illinois remain outliers from the good news of recovery.
Comment by Thomas Paine Wednesday, Jun 21, 23 @ 12:43 pm
@thomaspaine:
Plus Lake Michigan is a source of fresh water. Thats great for Chicago and Cook County.
Comment by Jerry Wednesday, Jun 21, 23 @ 12:51 pm
McClure is clueless just like his buddy Coffey in the House. Coffey wants to make it illegal for a law to be passed after 8:00 p.m.
A super minority for good reason.
Comment by don the legend Wednesday, Jun 21, 23 @ 1:01 pm
“But screaming about the inadequacy”
There is no other point for these people than political or ideological opposition. The negativity is by design. Illinois voters aren’t having it and are getting rewarded with fiscal improvement and responsibility, as well as good funding of economic growth factors like education and child care.
Comment by Grandson of Man Wednesday, Jun 21, 23 @ 1:06 pm
I guess Illinois should adopt the “pro business” policies Republicans like. Let’s repeal our minimum wage and use the federal minimum wage ($7.25/hour). Let’s repeal child labor laws, kids ain’t pulling their weight. And how about following suit with Governor Abbott in Texas and cut out the water breaks for construction workers. It’s so balmy in Texas, they can work all day without water. 19th century labor practices are just fine.
That’ll lower the unemployment rate.
Comment by Sir Reel Wednesday, Jun 21, 23 @ 1:08 pm
At the end of the day jb has illinois rocking!
Comment by Red headed step child Wednesday, Jun 21, 23 @ 1:09 pm
Many economists have long believed that an overall unemployment rate below 3.5% is a drag on the economy due to labor shortages. It limits overall growth. We’re in very good shape on this metric.
Comment by Walker Wednesday, Jun 21, 23 @ 1:18 pm
The Center Square isn’t a news outlet, it’s a public square for the inept and ignorant to air their grievances.
Comment by Walter Wednesday, Jun 21, 23 @ 1:22 pm
Illinois GOP: different day, same script. Yawn.
Comment by Nick Name Wednesday, Jun 21, 23 @ 1:31 pm
I’m really taking issue with author Glenn Minnis here. The story is a 20 second read. I clicked on other “news articles” by Glenn, and a lot are 20-30 second reads. It gives no context to anything. I’m relatively certain the Senator maybe, perhaps, possibly had something more to say than something that doesn’t waste Glenn’s time writing or my time reading.
Comment by Ducky LaMoore Wednesday, Jun 21, 23 @ 1:31 pm
Lacking context and perspective is a feature, not a bug, for this group. It’s what they do. It’s their niche. If you add context and/or perspective, they have nothing meaningful to say.
Comment by 47th Ward Wednesday, Jun 21, 23 @ 1:34 pm
The thing is there are structural problems in the Illinois economy and they are present elsewhere, but more prevalent in Illinois. A big one is lack of skilled labor matched to the labor market demand and the solution to that is not generally the free market, but government programs to train and prepare those workers and provide them the supports for their family so they can work at more challenging and rewarding careers.
Comment by ArchPundit Wednesday, Jun 21, 23 @ 1:41 pm
When 4.1 percent unemployment is a bad thing…….
Comment by btowntruth from forgottonia Wednesday, Jun 21, 23 @ 3:16 pm