Posted on 07/10/2024 10:52:32 AM PDT by CFW
(The Center Square) – In June, nine Illinois companies announced a total of 1,017 jobs affected by mass layoffs. A policy analyst and economy expert says more people are relying on themselves for employment.
A “mass layoff” under the Illinois Worker Adjustment and Retraining Notification Act is a reduction in force at a single site of employment of 25 or more full-time employees if they constitute one-third or more of full-time employees at the site, or 250 or more full-time employees.
Director of Fiscal and Economic Research at Illinois Policy Bryce Hill said Illinois has the least business-friendly state of all neighboring states and regulations and requirements can create unnecessary business hurdles.
“IRS [Internal Revenue Service] data shows that the state lost 90,000 people, essentially, and in 2022 they took with them $10 billion worth of income and that’s income that’s not going into the economy anymore," said Hill. "It’s going instead to other states, and it’s one of the reasons why the state has the third-highest unemployment rate in the nation. Not only are the layoffs but the other outcomes that even people who are still employed are experiencing all speak to the hostile business climate the state of Illinois has created.”
(Excerpt) Read more at thecentersquare.com ...
Don’t bring your liberal Illinois values to Texas, move to another blue state and be stupid their.
Actually the regime can only hide it to a certain degree. The current rate they put out is 4.1%, up from the low of 3.4% last year. Now since they don’t count people who have given up looking, homeless, illegal invaders, etc. the real rate is much, much higher but even what they publish is up.
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