The U of I Flash Index hasn’t changed much in the past couple of years, hovering between 106 and 107.2. Anything above 100 indicates growth. Fred Giertz, who authors the monthly study, says July’s number of 106.6, up from 106.4 in June, is a mixed bag.
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“While we’re growing and while unemployment is still falling, we haven’t had much increase in wage growth and, more importantly, there’s still a lot of people who aren’t technically unemployed, but who are still outside the job market, people who aren’t seeking a job right now,” Giertz says.
The study is a weighted measure of corporate earnings, consumer spending and personal income. Giertz says the state’s continuing budget crisis could be a problem soon – especially if state workers start getting laid off.