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The recent flash index shows Illinois’ economy improving over the past month

By Wordpress Admin User Oct 2, 2021 | 3:32 PM
Fred Giertz, an economics professor at the University of Illinois, says the state’s economic performance was pretty good over the last month, as measured by his Flash index. (Photo courtesy: WJBC/File)

By Dave Dahl

SPRINGFIELD – Illinois’ economic performance over the last month was surprisingly good, at least as the University of Illinois Flash index sizes it up.

Study author Fred Giertz, a U of I economics professor who compiles the index from a weighted average of consumer spending, corporate earnings, and personal income, said the index beat covid-related expectations.

On a scale on which 100 is the break-even point, the index inched from 105.6 to 106.0.

“I wouldn’t call it a dramatic change, but certainly a positive direction,” said Giertz. “The unemployment rate is down a small amount, but we are lagging the rest of the country. Our unemployment rate is a little less than two percentage points higher than the rest of the country, so it means that we have some catching up still to do.”

Illinois’ unemployment rate is seven percent, while the nation’s is 5.2 percent.

Dave Dahl can be reached at News@WJBC.com.

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