Illinois’ economic comeback from coronavirus may be under way

Posted on July 2, 2020
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]

Blogs

Labor Day – Expanding voting rights for all

By Mike Matejka Because of COVID, there is no Labor Day Parade this year.  It’s always a great event for our everyday workers to march proudly down the street and enjoys the festive crowd. If there had been a parade, this year’s Labor Day theme was to be “150 years of struggle: your right to vote.” …

Is federal mobilization the answer?

By Mike Matejka As President Donald Trump threatens to send federal marshals into Chicago, over the objections of Illinois Governor J.B. Pritzker, recall another Illinois Governor who protested the incursion of armed federal personnel into the city.   Those federal troops, rather than calming, escalated the situation, leading to deaths and violence. Illinois poet Vachel Lindsay…

In these troubled times, to my fellow white Americans

By Mike Matejka Our nation is at a unique watershed in human relations. African-Americans have been killed too many times in the past before George Floyd, but the response to this man’s death is international and all-encompassing. I was a grade-schooler during the Civil Rights 1960s. I watched Birmingham demonstrators hosed and the Selma – Montgomery…

Workers’ Memorial Day – Remember those whose job took their life

Looking around our community, when we say employer, most will respond to State Farm, Country, or Illinois State University.   We too often forget those who are building our roads, serving our food, or our public employees. COVID-19 has made us more aware of the risk.  Going to work every day for some people means…