« Fight for $15 Continues American Legacy of Social Movements | Lessons Learned in Englewood: 8 Years of Reflections from a CPS Teacher » |
Economics Thu Sep 25 2014
10 Recent Takes on Chicago's Economy
From fur trading to tech startups, this city's history has always been linked to its economic output and job opportunities.
So how are those looking today? Depends on what you look at.
1. The Chicago metro area median household income in 2013 barely changed from 2012 [PDF].
2. Chicago metro area "High Net Worth" investors are optimistic about the city, but pessimistic about local startups and the state of Illinois.
3. The Chicago metro area has over 1.3 million people living in poverty.
4. The Chicago Federal Reserve's National Activity Index ("a monthly index designed to gauge overall economic activity and related inflationary pressure" nationwide) fell to -.21% in August from .26% in July [PDF].
5. Chicago dropped its unemployment rates from last year... due, in part, to fewer job seekers statewide.
6. Chicago is slightly in favor of a minimum wage increase to $10/hr and millionaire tax increase by 3 percent.
7. Chicago has at least one mayoral candidate reviving the idea of a commuter tax.
8. Chicago is the best place to spend money at bars.
9. Chicago is the fifth best "big city bargain" in the country.
10. Chicago's long-term economic prospects are only as appealing as your age group [PDF].
Just keep these factors in mind when Nov. 4 and Feb. 24 roll around.