East Central Reporter

The Illinois Commission on Government Forecasting and Accountability (CGFA) recently released a report highlighting the state's poor economic performance. The report compared Illinois' economy to other states using four key metrics: Real Gross Domestic Product (GDP), total nonfarm payroll employment, unemployment rate, and total personal income.

The report noted that Illinois' GDP growth has been slow, with the state ranking 46th in terms of economic growth. Following the COVID-19 shutdowns, Illinois experienced an anemic growth rate of 2.8%, even slipping into negative growth in the first quarter of 2024.

In terms of job creation, Illinois has also underperformed. While other states have exceeded their pre-COVID jobs numbers significantly, Illinois’ total nonfarm payroll jobs have lagged behind. "The U.S. now has just over 6.2 million more jobs than in February 2020, representing 4.1% growth," the report stated. "Illinois, on the other hand, has barely surpassed its pre-COVID-19 level, with approximately 14,000 more jobs in May 2024 than in February 2020, equating to only 0.2% growth."

The unemployment rate in Illinois remains higher than the national average. In May 2024, preliminary data indicated that Illinois’ seasonally adjusted unemployment rate was 4.9%, which is higher than the U.S. average of 4.0%. This ranked Illinois 47th among states and the District of Columbia.

Personal income growth in Illinois has also trailed national trends. From the first quarter of 2023 to the first quarter of May 2024, personal income in Illinois grew at a rate of 3.7%, below the national rate of 4.4%.

The CGFA operates under a bipartisan commission of twelve legislators tasked with performing economic and research tasks for the Illinois General Assembly.

In June, according to preliminary data from the U.S. Bureau of Labor Statistics released by the Illinois Department of Employment Security (IDES), the state’s unemployment rate increased by +0.1 percentage point to 5%. Nonfarm payrolls increased by +10,400 during this period.

Industry sectors with notable job gains included Private Education and Health Services (+7,100), Trade, Transportation, and Utilities (+3,200), and Government (+2,800). Sectors experiencing declines were Leisure and Hospitality (-1,800), Information (-1,100), and Professional and Business Services (-1,000).

On another front involving former political figures from Illinois, Michael McClain has requested a separate trial from former House Speaker Michael Madigan in an upcoming federal corruption case. McClain's defense argues that a joint trial would prejudice his right to a fair trial due to conflicting defense strategies between him and Madigan.

“McClain respectfully seeks severance of his case from Co-Defendant Michael Madigan because a joint trial will result in such prejudice to Mr. McClain that his fundamental due process right to a fair trial will be denied,” defense attorneys wrote.

Madigan faces charges including racketeering, bribery, and official misconduct as part of a federal indictment related to improper dealings with ComEd and AT&T Illinois.