Illinois Economy Looking Up
By: Alex de Leon
Updated: June 18, 2012
The state economy begins to make small gains, partly due to the growth in exports and manufacturing jobs.
Even the housing market is stabilizing. The foreclosure rate is still high at 7.5%, but it doesn't appear to be growing.
The jobless rate fell to 8.7% last month, much better than last year when it was higher than 10%. Analysts say they expect the trends to continue.
However, they say government sector layoffs and a weak construction market must improve for the economy to take the next step.
Even the housing market is stabilizing. The foreclosure rate is still high at 7.5%, but it doesn't appear to be growing.
The jobless rate fell to 8.7% last month, much better than last year when it was higher than 10%. Analysts say they expect the trends to continue.
However, they say government sector layoffs and a weak construction market must improve for the economy to take the next step.
