9:17 AM
With Labor Day we have the opportunity to recognize the importance of the approximately 155 million working men and women in this country who keep our economy chugging along. Times have been so up and down throughout the many sectors of our economy. We have seen jobs leave this nation and go to other countries. We've seen the energy sector frankly take in mountains of money. We've seen the housing sector take a tumble. When will the ups and downs like we have seen end? With the global economy, the ups and downs are more prevalent. I've read various articles about how the economy here in the U.S. is self-healing, but how do we know when the hurt is over. Well, that's easy.....when people are going back to work and staying at work. That's how we know. Service sector jobs also increase.
How is Illinois faring? In the manufacturing sector, the Manufacturers' News, Inc. directory of 2008, Illinois lost 14,357 manufacturing jobs and 425 manufacturers since November 2006. Manufacturers' News reports Illinois is home to 21,503 manufacturers employing 935,032 workers. Illinois ranks 3rd in the nation for number of manufacturing plants and fourth for industrial employment, accounting for 20% of the Midwest's manufacturers and 17% of the region's jobs. MNI surveys manufacturers of all sizes, including small companies.
One way to see how Illinois is doing, is the University of Illinois flash index. The index for August shows that the economy is in a slowdown in growth, just as a slowdown has been seen nationally. There is also concern that a slowing world economy along with the rebounding dollar will slow export growth.
How is Illinois faring? In the manufacturing sector, the Manufacturers' News, Inc. directory of 2008, Illinois lost 14,357 manufacturing jobs and 425 manufacturers since November 2006. Manufacturers' News reports Illinois is home to 21,503 manufacturers employing 935,032 workers. Illinois ranks 3rd in the nation for number of manufacturing plants and fourth for industrial employment, accounting for 20% of the Midwest's manufacturers and 17% of the region's jobs. MNI surveys manufacturers of all sizes, including small companies.
One way to see how Illinois is doing, is the University of Illinois flash index. The index for August shows that the economy is in a slowdown in growth, just as a slowdown has been seen nationally. There is also concern that a slowing world economy along with the rebounding dollar will slow export growth.