This video is a presentation put together by the Chicago Council on Global Affairs on “the productivity paradox [which has been caused by] a mismeasurement of our modern digital economy.”
Monthly Archives: March 2018
Rep. Laura Fine, D-Glenview just proposed a Bill (H.B. 4595) for the establishment of an (Illinois) state-sponsored insurance company. If it becomes law, it would result in the creation of the non-profit Illinois Employers Mutual Insurance Co. providing local workers compensation in situations in which companies where they work cannot afford to do so. The Illinois Workers Compensation Commission Operations Fund would provide a $10 million loan to get this going.
While this seems necessary, last year, Gov. Bruce Rauner – also of Illinois – attempted H.B. 2622 which was vetoed. Indeed, a recent study published in the American Journal of Industrial Medicine found that Illinois mine workers who are the victims of injuries and illnesses are less likely to report these to tracking federal agencies
Ferocious Fioretti (De)feats?
Alderman Robert Fioretti received a slew of endorsements from law enforcement unions (including the Chicago Fraternal Order of Police) for his upcoming battle against Toni Preckwinkle, current President of Cook County Board.
Fioretti – who has represented Chicago’s 2nd Ward since 2007 – believes that this shows “people who believe in law and order” want change:
“For me to win the FOP’s endorsement is an acknowledgement that something is wrong with our system. To have the sergeants and to have the other organizations that have endorsed me sends a message to those that have been complicit with a system that has let down our communities.”
Fioretti is definitely able to cope with a fight. When he took office in 2007, it was against 14-year incumbent Madeline Haithcock and he managed to get the most votes, forcing a run-off with the incumbent. He then went on to defeat her by an almost two-to-one margin and was then re-elected in 2011 to a second term.
Good News for Illinois Economy
Measuring in at 104.6 on the Flash Index for February, there was optimism abound in Illinois at the economic status. This was an increase of a fifth of a point from January, according to the University of Illinois’ economic gauge. And, according to economist Fred Giertz, this figure is the highest it has been since May 2017. With it, the unemployment rate of 4.9 is low too. He said:
“The Illinois economy is doing very well, especially compared to years ago, when we had the recession and major slow-down. But we’re not doing as well as the rest of the country.”
Giertz added that in general, the trends in the Illinois economy is positive, pointing out that this is proof of “an upward trajectory. Unemployment has been going down, but we haven’t move as fast as the national economy. It’s probably not going to propel the economy and the stock market upward in a kind of rapid expansion that seems to be true or what people thought the last couple of months or so.”
In addition, assistant vice president and economist for the Federal Reserve Bank of St. Louis, William R. Emmons said that the Midwestern Illinois economy is at “peak performance. In fact, if anything we may be a little bit past peak performance. The unemployment rate is at the level that is close to ideal, that’s not zero necessarily, there is always some unemployment as people move between jobs.”