Chicago Stats

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Category: Output & Income (page 1 of 2)

Illinois More Dependent on Trade With Canada Than Most States

The United States Department of Commerce imposed on Monday a 20% import tax on softwood lumber from Canada. The measure is the latest indication of mounting economic tensions between the U.S. and its northern ally. In a press release, U.S. Secretary of Commerce Wilbur Ross said, “It has been a bad week for U.S.-Canada trade […]

5.9% of Electricity in Illinois Produced From Renewables

Climate change is widely viewed as one of the long-term events most threatening to the Earth and human life. Research shows that since the Industrial Revolution in the 1700s, changes in the Earth’s climate are due in part to human activity — specifically, the burning of fossil fuels and the emission of greenhouse gas. Fossil […]

Illinois Among the Worst States For Business

For 83 straight months, nearly seven years, the U.S. private sector has added jobs. Unemployment has steadily declined and remains close to a 10-year low. And with investors confident about the economy, the Dow Jones Industrial Average broke through the 20,000 mark early this year. By these and other key measures, business in the United […]

Illinois Roads Are Worse Than in Most States

In its most recent assessment, the American Society of Civil Engineers gave the United States a failing grade for its infrastructure. According to the group, $3.6 trillion would be needed to raise the standard of America’s roads to acceptable levels before 2020. To determine the states with the worst roads, 24/7 Wall St. reviewed statistics […]

Chicago is Among the Top 15% Richest Cities

U.S. median household income rose to $56,516 in 2015, an increase of $2,800, or 5.2% over 2014 levels. Despite it being the largest percentage increase since 1998, median household income remains lower than it was in 2007 when adjusted for inflation. Whether an American is likely to make more or less than the national median […]

Petroleum is the Top Selling Product in Illinois

The United States exported a total of $2.26 trillion worth of goods and services in 2015, down slightly from a record high of $2.38 trillion in 2014. Exports accounted for an estimated 12.6% of total U.S. GDP and were a significant part of every state’s economy. Without exception, each state in the country exported more […]

Insurance Carriers and Related Activities is the Largest Industry in Illinois

Dozens of industries across all 50 states comprise the U.S. economy — the world’s largest economy accounts for more than a quarter of global GDP. Several states, including California and New York, generate more output than several countries, including Belgium, Poland, and Turkey. Texas’s largest industry alone produces more in economic output than the entire […]

Lovie Smith is the Highest Paid Public Employee in Illinois

Nick Saban, head coach of the men’s football team at the University of Alabama, is paid more than $7 million annually. He is the highest paid employee of all U.S. workers employed by a local or state government. In the vast majority of states, college football and basketball coaches are the highest paid public employees. […]

Illinois is the 18th Richest State in America

The U.S. Census Bureau released on Wednesday new data from its 2015 nationwide population survey. According to the annual survey, the national median household income rose to $55,775 in 2015. No state reported income declines. While 39 states reported significant increases in household income, income levels in 11 states remained the same. 24/7 Wall St. […]

Chicago is Among the Richest 15% of American Cities

U.S. median household income increased in 2014 to $53,657, an increase of roughly $600 from the previous year. Still, U.S. incomes have yet to recover to pre-recession levels. Adjusting for inflation, U.S. 2014 median income was still below its 2009 level. Periods of recession and economic boom have an impact on the overall wealth of […]

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