Saturday, March 07, 2009

Illinois Unemployment Rate

Today I read that the unemployment rate in Illinois had reached about 7.3 percent. While lower than the national average Illinois is not doing as well as other states like Colorado which are struggling but not doing as poorly as other states. I had a friend who lived in Chicago and just could not find a job. He had to apply for Illinois unemployment benefits because he just could not find a job in Illinois. His plan was to live in Chicago for awhile and save up for his eventual move to Colorado but after 6 months of unemployment in Illinois he decided just to make the move because the job market was simply better in the Denver Colorado area. States that have been more responsible with their tax revenue and less generous with their social welfare are likley to attract talented employees who come from high unemployment states seeking quality jobs. Because these talented employees are likley to find unemployment in lower unemployment states those state should thrive in the long run.