The economy in Illinois continues its slow growth. University of Illinois economics professor Fred Giertz says the Flash Index is up from 106.3 in September to 106.5 in October. Anything more than 100 means growth; the greater the number, the higher the rate of growth. Giertz uses a weighted average of personal income, consumer spending and corporate earnings.
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The state’s unemployment rate has come to within a percentage point of the national rate and is now 6.7 percent. “Finally, after a lot of painful months and even years, unemployment in Illinois seems to be responding,” says Giertz. “Unemployment’s a lagging indicator where it seems to go down after the economy starts to recover.” Giertz points out that, as an individual, the governor has little sway over the number or rate of unemployed.