Whether you have coins in your pocket or not, a monthly report from the University of Illinois says the state’s economy is improving. A weighted average of three indicators, the Flash index has ticked from 106.5 to 106.6 for the month just ended. The study examines personal income, consumer spending, and corporate earnings.
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The study’s author, economics professor Fred Giertz, says there is some encouraging news, if you look closely enough. “People may not realize it, but anytime the Flash is above 100, the economy’s growing. Yet there wasn’t much evidence of this until relatively recently,” says Giertz. “In the last six months, there’s been a dramatic decrease in the unemployment rate in Illinois. It’s down from above 9 percent to about the 6 percent range now. It used to be about 2 percentage points above the national average. Now it’s only about 8/10ths of a percentage point” more than the national figure.
Still, Giertz says, too many people are unemployed or are in jobs which they don’t believe suit them. But, as funnyman Drew Carey said, there’s a support group for that. It’s called everyone, and they meet at the bar.