ILLINOIS (WMBD) – What kind of pay change did Illinoisans see in the last year? The answer is pretty average, according to a recent report from private payroll firm ADP.
To determine year-over-year annual pay growth across the country, ADP used salaries of nearly 10 million employees over the last 12 months, with the results listed in its National Employment Report.
According to the latest data, Illinois ranked near the middle of the nation in terms of pay growth over the past year. In fact, the state tied for 23rd, sharing the spot with Michigan, Mississippi, and Rhode Island.
While a four-way tie for 23rd doesn’t exactly stand out, it’s still nowhere near Delaware, which was ranked dead last in the 51st spot. (Since D.C. is included in the report, the overall ranking consisted of 51 states.)
Annual pay growth in Illinois was 6.4% over the last year, according to the report. In addition to being above the national median of 6.2%, that percentage stands tall compared to neighboring states such as Indiana, where wages grew just 5.2%. However, it falls short of its southern neighbor Kentucky, where wages grew 7.3%.
The report showed Illinois’ median pay level in 2023 was $57,600, which is higher than almost every other neighboring state except for Missouri, where the median wage is $59,100.
Even with the lower pay growth and median pay level, Illinois ranked 17th in CNBC’s annual rankings of “America’s Top States for Business.” This means while Illinoisans are earning more than most of their neighbors in other states, the state isn’t totally unattractive for businesses.
Additionally, according to the non-profit Tax Foundation’s 2023 State Business Tax Climate report, Illinois ranked 36th overall and 38th for its corporate tax policies. The state’s individual income tax ranked 13th, while its property tax ranked 44th across the nation.