A monthly measure of the state's financial condition looks good, but looks can be deceiving. The University of Illinois Flash Index is at 107, a high-water mark since April 2007. Flash Index author Fred Giertz says only in some ways does the economy look good. “We have good news in a sense that the Flash Index went up from 106.5 to 107,” says Giertz, an economics professor at the University of Illinois. “Almost every month, there’s obviously an asterisk … We still have a substantial unemployment problem in the United States and even more so in the state of Illinois.”
Click here for summary
At 9.2 percent, Illinois trails only Nevada. It’s like that old saying, a recession is when your neighbor loses his or her job. A depression is when you lose yours. The index uses a weighted average of corporate earnings, personal income, and consumer spending. Any number greater than 100 indicates growth.