Strong Job Growth Projected in 2014, But Not in Illinois

Strong Job Growth Projected in 2014, But Not in Illinois

Moody's Analytics projects Illinois to be dead last in job growth among 50 states this year.
WTVO/WQRF -- Moody's Analytics predicts that 2014 will be a breakout year for job growth, but that Illinois will get left behind.

According to an article published by the Pew Charitable Trusts 'Stateline' News Service, Moody's projects that "Overall, the U.S. economy is projected to generate 2.6 million jobs in 2014 year, up from 2.2 million last year, largely on the strength of the country’s booming health care, energy and high-tech sectors."  Most of that growth is predicted to be in the south and the west, with Texas, California and Arizona adding the most jobs.  Mark Zandi, chief economist of Moody's Analytics, expects 2014 to be a breakout year. He predicts that within three years the U.S. economy will reach full employment - estimated as a 5.75 percent jobless rate and 64 percent labor force participation."

But Moody's also projects Illinois to have the worst job growth in 2014 of any state in the nation.  While the article does not provide state-by-state details, the state's problems when it comes to employment are well known.  High taxes and costs and a regulatory environment that is seen as not friendly to business have all been cited for lackluster job growth in Illinois which has left the state with one of the highest unemployment rates in the nation.

If Moody's is correct and job growth in Illinois stagnates while others areas of the nation see significant improvements, the political ramifications in an election year could be significant, especially in the race for Governor.  For more, click on the link at the bottom of the page.

Fastest Job Growth 2014:

North Dakota 3.57%
Arizona 3.08%
Texas 2.75%
Colorado 2.67%
Florida 2.34%
Georgia 2.18%
South Carolina 2.14%
Oregon 2.14%
Idaho 2.05%
Utah 1.98%

Bottom States for Job Growth 2014:
New Mexico 1.25%
New Hampshire 1.25%
Tennessee 1.23%
Massachusetts 1.16%
Alaska 1.15%
New York 1.12%
Vermont 1.11%
Maine 1.02%
Illinois 0.98%
D.C. 0.75%
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