When COVID-19 shutdowns left a record number of people suddenly out of work, Illinois saw record applications for unemployment benefits. That increase drained the state fund that pays out those benefits, the Illinois Unemployment Insurance Trust Fund.
Illinois has one of the highest unemployment rates in the nation. Federal pandemic unemployment benefits ended on Labor Day, cutting off weekly payments to more than 300,000 people in the state.
The August job growth the government reported Friday fell far short of the sizable gains of roughly 1 million in each of the previous two months. The hiring jumps in June and July had followed widespread vaccinations that allowed the economy to fully reopen from pandemic restrictions.
Criminal backgrounds, homelessness and lack of education and opportunity are all factors in preventing black youth between the ages of 16 and 24 from finding employment, according to a report released by the University of Illinois at Chicago’s Great Cities Institute.
The Chicago Teachers Union is calling on Mayor Rahm Emanuel and Gov. Bruce Rauner to prevent as many as 5,000 teachers from being laid off later this year.
New numbers touted by the governor’s office show that the Illinois unemployment rate has fallen more than any other state in the last year. But is it all good economic news? Paris Schutz has the story.
There is concern today that the Cook County employee computer system may have been hacked. Read an article.
People who have been out of work for more than six months have a harder time getting hired again. Brandis Friedman has the story of a Chicago-based nonprofit ahead of the curve in helping those workers get back to work, and the support it’s getting from the White House. Read an article.
Read an interview with Darryl Lane, Senior Talent Acquisition Lead at Skills for Chicagoland’s Future, about employment tips, and view a graph of Chicago’s unemployment rate compared with state and national levels.
After the impact of Hurricane Sandy brought the stock exchange to a halt for two days for the first time since 1888, Kris Kridel of WBBM Newsradio 780 and 105.9FM will bring us the latest business headlines along with the economic impact of the storm.
A local company is in trouble for selling snake oil. Kris Kridel of WBBM Newsradio 780 and 105.9FM has that story, and other top business headlines.