Illinois’ economic comeback from coronavirus may be under way

Fred Giertz, an economics professor at the University of Illinois, authors the monthly Flash index, a snapshot of Illinois’ economic activity. (Dave Dahl/WJBC)

 

By Dave Dahl

SPRINGFIELD – For the first time since the pandemic started, the University of Illinois Flash index is creeping up.

As he contemplates whether Illinois has already hit bottom, U of I economics professor Fred Giertz says the rebound is going better for some than for others.

“Some people have lost their jobs, but their income has pretty much been maintained” by federal programs, and the same — hit or miss — is true for businesses. Giertz adds, though, that the inconsistency is because the aid “was not targeted particularly well. It’s pretty hard to set up a massive program in a few weeks.”

Giertz’ measure of economic growth, considering personal income, corporate earnings, and consumer spending went from 92.8 a month ago to 93 point one now. 100 is the break-even point between growth and contraction.

Dave Dahl can be reached at [email protected]

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