The economic recovery remains slow, says the author of a monthly measure of how Illinois is doing. J. Fred Giertz, an economics professor who is also director of the Institute of Government and Public Affairs at the University of Illinois, says the recovery from the 2007-09 recession is maddeningly slow. “The economy continues to grow … (but) is not making a big dent into the unemployment level,” he says.
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He says with unemployment still more than 8 percent, a difficult part of it for the public is that, in many cases, companies have become so efficient that they do not need to replace people who have left.
The Flash Index is a weighted average considering sales tax receipts, corporate tax payments, and personal income tax. The number for November is 103.9, down slightly from 104.0 the previous month. Anything over 100 indicates economic growth.