Yet the figures show there are nearly 1.8 jobs for every unemployed person, down from a peak of 2 but historically very high. Before the pandemic, there were usually more unemployed people than jobs.

Investors will be closely watching moves by central banks in coming months to fight inflation with higher interest rates, all the while bracing for the recession and higher unemployment that could result from those policies.

With less than two months until Election Day, Mayor Lori Lightfoot touts the $16.4 billion spending plan she crafted as a “stability budget” for a city enjoying a faster than expected recovery from the COVID-19 pandemic. Here’s what it does.

The benchmark index finished with a loss of 19.4% for 2022 — its worst loss since the financial crisis 14 years ago and a painful reversal for investors after the S&P 500 notched a gain of nearly 27% in 2021.

A look at the Chicago residential property market as we head into 2023 after a year of interest rate hikes. 

Bally’s Chicago casino is set to have 3,400 slots and 173 table games in addition to an exhibition hall, 500-room hotel, a 3,000-seat theater and 11 restaurants. The development will include a 2,100-square-foot park and walking path along the river and a three-level underground parking garage, according to the plans released by city officials.

An economic package, which gives tax credits to incentivize electric vehicle and parts production and training in Illinois, has yielded few results, to the point that Gov. J.B. Pritzker is expected to soon sign legislation that will expand some tax credits.

The $1.74 billion proposal still needs the approval of the Illinois Gaming Board, which must license Bally’s to operate the Chicago casino set to be built along the Chicago River near Chicago Avenue and Halsted Street.

The European carmaker said it will “idle” the assembly plant in Belvidere, Illinois on Feb. 23 and said the layoffs are expected to exceed six months. 

A spokesperson for Uber, said firm officials were “pleased to put this matter behind us.” 

This week, CASHDROP founder Ruben Flores-Martinez announced he is putting $1 million of his own equity into what he calls the Latino Renaissance Fund, which will be distributed to 1,000 Latino-owned businesses.

Between supply chain problems, inflation and the shadow of a pandemic, the outlook for small retail and food businesses continues to be uncertain this holiday season.

As head of a regional Fed bank, Goolsbee will have a vote on the central bank’s interest rate decisions in 2023. Each year, four of the regional bank presidents rotate into voting positions on the Fed’s rate-setting committee.

Researchers say despite the pandemic and inflation concerns this year, people are still giving their money — but cautiously.

Online shopping hit record levels last Friday, despite consumers’ concerns about the economy being at the highest level since the 2008 Great Recession.

The stand-off between railroad companies and a dozen unions representing workers from conductors to locomotive engineers is for the second time heading toward a possible strike.