BREAKING NEWS: Illinois Leads In Job Loss During The COVID-19 Lockdown
Illinois Leads In Job Loss during the coronavirus pandemic lockdown due to the governor extending reopening the state. Illinois was the first state to order the coronavirus pandemic shut down in early March 2020. Illinois has the strictest stay-at-home order and is still in partial lockdown. Governor JB Pritzker has now extended his executive stay-at-home order lockdown for the fourth time.
The longer the state remains in lockdown, millions of Americans cannot go back to work. JB Pritzker is getting sued by local government, businesses, and individual taxpayers. He has lost many cases and is appealing his court ruling to federal court. As time passes, many of Illinoisans’ temporary layoffs will turn to permanent job losses. As days, weeks, and months pass, Illinois leads in job loss during the coronavirus pandemic lockdown. Illinois has the second-highest property tax rate in the Nation. Illinois has a history of financial irresponsibility and mismanagement. The state is also at a major financial budget shortfall due to loss of revenues due to the pandemic.
Pritzker and Chicago Mayor Lori Lightfoot is demanding a federal bailout from the Trump Administration. Many analysts think Pritzker and Lightfoot are politicizing the coronavirus pandemic to have the federal government bail out the city and state of its financial shortfall and pension debt. This is hurting individual taxpayers, businesses, and local governments. In this breaking news article, we will discuss and cover the topic of Illinois Leads In Job Loss During The COVID-19 Lockdown.
Illinois Leads In Job Loss And Devastating Economy
Most other states have reopened their state economies. Georgia, Florida, and Texas were the first states to reopen. These states have reopened in late April and early May. The economy in reopened states has proven successful. Analysts predicted a job loss of 8 million Americans in May. However, there was a surprising 2.5 million job gains in the month of May.
Reopening states have proven to be successful with coronavirus cases declining. JB Pritzker is drawing a lot of criticism due to the extension of his executive lockdown order. Many are calling Pritzker incompetent and politicizing the coronavirus pandemic crisis. Labor statistics show Decatur, Peoria, and Elgin got hit the hardest.
See the chart below:
Business Owners Defy Pritzker’s Lockdown Order And Opens
Most states in the Nation have reopened in late April and early March. However, Illinois now ranks as the last state to reopen after the coronavirus pandemic. Illinois is also the most financially irresponsible state with billions in budget deficits. Chicago Mayor Lori Lightfoot announced she has not ruled out another property tax hike for Chicagoans due to a $700 million budget shortfall. Despite the executive lockdown order by Pritzker and Lightfoot, many business owners have reopened their businesses. This angered JB Pritzker that he announced he will be asking police agencies throughout the state to arrest and jail business owners who defy his executive lockdown order. Many police agencies and county sheriffs have said they will not be enforcing the governor’s executive lockdown order. This angered Pritzker even more that he said he will withhold federal funding to all law enforcement agencies and cities that defy his executive stay-at-home lockdown order.
Illinois now has one of the highest unemployment rates in the nation. There are multiple groups formed to recall JB Pritzker due to his incompetence. Many businesses are closed for good and will not be able to reopen.
Unemployment Claims Hit Historic Record High
Over 45 million Americans have filed unemployment claims in the past 12 weeks. However, states that reopened have seen a surge of new employment. The coronavirus is not increasing in states that have reopened. Illinois was in a financial crisis prior to the pandemic due to its Ponzi Scheme-like pension system. No tax increases in the world can fix the broken pension system of Illinois. Now with the revenue loss from the COVID-19 pandemic, Illinois is on the verge of bankruptcy. To many analysts, Pritzker and Lightfoot’s intention is to financially ruin Illinois so the federal government will bail out the state. President Trump already said he will not be bailing out financially irresponsible states.
See the image below:
Illinois Leads In Job Loss Versus Neighbouring States
Illinois leads in Job loss versus its neighbouring states. The national unemployment rate came out last week at 13.3%. However, the Illinois unemployment rate is 23.1%. This rate is almost double the national rate and is 43% higher than its neighbour Missouri. Missouri’s unemployment rate is 16.1%.
Here are the unemployment rates for the neighbouring states:
- Iowa (16.2%)
- Wisconsin (20.7%)
- Indiana (22.8%)
Kentucky is the only neighboring state with a higher unemployment rate of 32.8%. However, economists expect Kentucky’s unemployment to drop to less than 20% in the following weeks. Illinoisans cannot go by with any more delays for the state to reopen. Many Illinoisans on furlough or temporarily laid off to see a permanent loss of their employment if they do not go back to work. The state’s unemployment software is not at full capacity that many are still waiting to have their unemployment claims processed. A large percentage of Illinoisans have used up all of their savings and federal stimulus money. JB Pritzker seems to be in his own little world with a plan to reopen the state in multiple phases which does not make sense to many. Also looming in the coming months is Pritzker’s progressive tax plan. Pritzker’s so-called fair tax will burden an estimated more than 100,000 small businesses. Small businesses are the biggest job creators. It is a bad time for any tax increase or penalizing businesses with additional tax burdens. However, JB Pritzker says there is no better time for a tax increase than now. Many individual taxpayers and businesses said they had enough. Economists predict a massive exodus of Illinoisans to other lower-taxed states. This is a developing story. We will keep our viewers updated on new developments in the coming days and weeks. STAY TUNED!!!
