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Monday, January 6, 2025

Illinois faces high unemployment and poor business tax climate

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State Senator Dale Fowler | Illinois State Senator

State Senator Dale Fowler | Illinois State Senator

The end of 2024 did not bring significant improvements for workers in Illinois, as unemployment rates continued to exceed the national average.

Reports from the state revealed that companies in Illinois announced 1,176 layoffs in November. The unemployment rate in October was recorded at 5.3%, making it the third highest in the United States. Job reports estimated that around 346,000 people in Illinois were actively seeking employment during this period. Furthermore, according to the Tax Foundation’s 2024 State Business Tax Climate report, Illinois was ranked 37th nationwide for its business tax climate.

Senator Dale Fowler commented on the situation by stating that "fiscal responsibility, balanced budgets, and common-sense economic growth initiatives are opportunities that could help boost jobs and restore prosperity to Illinois communities."

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