Illinois’ Economic Growth Is Worse Than During The Great Depression
by Michael Lucci via IllinoisPolicy.org,
ZeroHedge.com
Jun 14, 2017
Illinois’ total state economic activity has increased by only 4 percent since 2007, which is lower than the U.S.’ 10 percent GDP growth during the worst decade of the Great Depression.
There are fewer Illinoisans working today than there were 10 years ago. Millions of Illinoisans are feeling the brunt of the state’s economic pain and financial meltdown in the form of joblessness and hopelessness. Too many families are dealing with unemployment and underemployment, and too few are able to find their dream jobs in the Land of Lincoln. That’s because Illinois has the Great Depression economy of the Midwest.
In fact, Illinois’ economic growth is worse than during the worst years of America’s Great Depression. Illinois’ gross state product, which measures total economic activity, has increased by barely more than 4 percent over the past decade. In comparison, the U.S. gross domestic product during America’s Great Depression increased by nearly 10 percent during the worst decade of the Great Depression, from 1930-1939.
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