(The Center Square) – Republican state Rep. Dan Caulkins argues all the variables simply aren’t adding up when it comes to the state of Illinois’ economy.
A new University of Illinois Institute of Government and Public Affairs report shows how growth in the state has slowed to a crawl, though some researchers insist that, on the whole, it continues to build.
With the report pointing to such data as inflation-adjusted rates of corporate earnings, consumer spending and personal income as some of the most key indicators, Caulkins also highlights how in July the state’s so-called Flash Index dipped for the fourth straight month.
“I find it hard to believe that the Illinois economy is growing when we’re losing population and the population that we’re losing is essentially taking their wealth with them,” Caulkins told The Center Square. “How does your economy grow when your unemployment is high? I don’t know how you grow your economy when your population shrinks and the net worth of your state is going down by billions.”
All the data comes at a time when the state unemployment rate jumped to 5.2% in July, nearly a full point above the national average and tied with California for the second highest rate in the country.
Caulkins adds lawmakers in Springfield have no one to blame but themselves for all the state’s struggles.
“The problem is we have anti-business policies in place that discourage growth in this state,” he said. “I think our real problems are the cost of doing business in Illinois is very high. The barrier to entry is very high for people that want to start a business and the cost of running a business is high. I think it could be fixed; it’s just that the Democrats have shown no desire.”
Caulkins said making the decision to leave Illinois is a hard one for residents and businesses alike, but in the end more and more individuals are deciding to go in that direction in the name of pure survival.
“All these companies that are leaving or have left, I honestly don’t think they wanted to leave,” he said. “I mean they have established a presence here and they’re part of communities, but when you can’t turn a profit, when what you’re doing isn’t making money for your shareholders you have to go somewhere where your company can flourish. People are leaving because the jobs are leaving and it’s the business climate here.”
