Several forces are pushing chains out of some city centers: a glut of stores, people working from home, online shopping, exorbitant rents, crime and public safety concerns, and difficulty hiring workers. To reinvent downtown retail, drastic changes may be required.

Prices increased 0.4% from March to April, the government said Wednesday, up from a 0.1% rise from February to March. Compared with a year earlier, prices climbed 4.9%, down slightly from March’s year-over-year increase.

The unemployment rate dipped to 3.4%, matching a 54-year low, the Labor Department said Friday. The jobless rate fell in part, though, because 43,000 people left the labor force, the first drop since November, and were no longer counted as unemployed.

Freshman U.S. Rep. Jonathan Jackson, who succeeded longtime U.S. Rep. Bobby Rush in Illinois’ 1st Congressional District, said the debt ceiling debate has already gone on too long and threatens the standing of the dollar as the world’s reserve currency.

Construction often means disruption. That’s certainly been true in Edgewater and Uptown as the CTA’s been working to rebuild century-old tracks and stations. And with that project kicking off just as the COVID-19 pandemic hit, the challenges have been felt even more acutely.

United said 3,800 of its new jobs this year will be in Chicago, where the company is headquartered and runs a big operation at O’Hare International Airport. 

The Fed's rate increases since March 2022 have more than doubled mortgage rates, elevated the costs of auto loans, credit card borrowing and business loans and heightened the risk of a recession.

Last summer, the 5,000 Chicagoans selected to participate in the city’s guaranteed income pilot program began receiving $500 per month. The Resilient Communities program was designed to help income-qualified Chicagoans stabilize their financial circumstances.

The projections detailed by outgoing Mayor Lori Lightfoot represent a significantly rosier financial picture for Chicago than the forecast released in August, when city officials projected a likely budget gap of $473.8 million in 2024. 

A permanent child tax credit in Illinois would mean up to $700 per child for eligible families. Proponents say the measure would support low-income families and create more revenue.

The Black unemployment rate hit a record low of 5% last month, according to data from the U.S. Bureau of Labor Statistics. The news comes three years after the rate spiked to nearly 17% during the early months of the pandemic.

Many Chicagoans were shocked by retail giant Walmart’s announcement that it’s closing four stores this weekend — fully half of its locations in the city.

The government said Wednesday that consumer prices rose just 0.1% from February to March, down from 0.4% from January to February and the smallest increase since December.

Walmart says it is cutting its losses in the Chicago market, announcing Tuesday it will close four of its eight stores in the city by April 16.

Measured month to month, wages rose 0.3% from February to March, a tick up from a mild 0.2% gain from January to February. But even that figure signaled a slowdown from average wage increases in the final months of 2022.

The new rules take effect April 18 and are aimed at reducing U.S. dependence on China and other countries for battery supply chains for electric vehicles.