The pace of economic growth in Illinois has leveled off. The University of Illinois Flash Index is at 104.8 – down from 104.9 a month ago, with readings over 100 indicating a growing Illinois economy. University of Illinois Economist Fred Giertz, who compiles the index, says that drop of 0.1 is insignificant, and the economy is doing OK.
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“The major result here is that the economy is still growing at the same pace it’s been, which is relatively slow for a recovery, but it certainly is positive, which is good news,” he said. But Giertz says the economy still isn’t growing fast enough to create enough jobs to absorb both the unemployed and those who are new to the job market.
The index has been over 100 now for a year. It hit a low of 90 during the recession in 2010 and has been on the rise ever since. The index takes into account sales tax and corporate and personal income tax data to create a snapshot of the Illinois economy.