Posts tagged "recession"

Race, poverty and politics: Obama halts deportations; Rahm backs decriminalizing small amounts of pot; CTU vote means hot summer ahead; Cook to boost set-asides

President Obama bypassed Congress Friday and announced the U.S. will stop deporting undocumented immigrants who are currently under 30 years old, who came to the U.S. before they turned 16 and have lived here at least five years. To be eligible, they also can’t have a criminal record, have earned a high school diploma or... Read more »

New anti-gang plans do little to fix root cause of 'urban warfare': advocate

A recent anti-gang measure signed into law this week by Gov. Pat Quinn would make it easier to prosecute high-level gang members for crimes that they ordered but were carried out by lower-level members.  It will go hand-in-hand with a ‘tough-on-gangs’ approach that has been championed at the city level in previous months by the mayor... Read more »

Struggling IL homeowners, renters to get $20 million piece of big mortgage settlement pie

Struggling IL homeowners, renters to get $20 million piece of big mortgage settlement pie
Illinois Attorney General Lisa Madigan announced Wednesday that $20 million will make its way to statewide programs aimed at keeping folks in their homes and providing mortgage relief. That’s thanks to Madigan’s involvement in a national lawsuit against some of the country’s biggest lenders, which ended in a $26 billion settlement earlier this year–the second... Read more »
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Happy birthday, Wells Fargo: older but wiser?

Happy birthday, Wells Fargo: older but wiser?
Protesters around the country came out Monday to wish Wells Fargo a happy 160th birthday, and to remind the San Francisco bank that getting older doesn’t mean they’re getting any wiser. “We went out there to let them know that we are going to bring attention to the fact that Wells Fargo still does not... Read more »

As more Americans become poor, will more become homeless?

As more Americans become poor, will more become homeless?
If someone asked you to guess if homelessness rose or fell during the Great Recession, what would you say? I would have guessed that more people were homeless, that the number was rising. But actually, it fell. About 34,877 less people were homeless in the middle of the recession than at the start. Why? Well,... Read more »

Job training program caters to an emerging group of unemployed

Only in its second year, Chicago Career Tech, a job training program for unemployed Chicagoans, is seeing the number of applicants grow exponentially. Unlike other programs, the nonprofit focuses its services on an emerging group of unemployed: Those who, until recent economic downturn, held a job earning middle-income wages. Since its launch in 2010, roughly... Read more »
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Unemployment rates in Chicago return to highest levels

Unemployment rates in Chicago return to highest levels
The news is rarely good on unemployment rates, but usually it’s a little encouraging: down 1 percent, a half percent, or heck, maybe it didn’t get any worse. Not this month. The latest data show things are looking downright ugly again, with July’s unemployment rate in Chicago at 11.7 percent–climbing back up to heights not... Read more »

Double-dips, recessions and recoveries

Double-dips, recessions and recoveries
It’s the phrase of the week: “double-dip recession.” A search for those three terms at Google News earlier this afternoon returned 8,150 results. “Auto stocks plummet on double-dip recession fears” went a recent headline in USA Today. “Time to Say It: Double Dip Recession May Be Happening” The New York Times titled a post at... Read more »

News Roundup: Local Chicago businesses show signs of recovery

The neighborhood around Ford’s South Side assembly plant was hit hard two years ago after the recession caused the plant to lay off 800 workers. Now, with the recent addition of 1200 jobs, the area is showing signs of recovery. Economic indicators show that the nation is slowly recovering, calming fears of a “double dip”... Read more »
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127,000 may lose unemployment in Illinois

Unless Congress acts, 2 million people across the nation will lose their unemployment benefits this week–127,000 in Illinois alone. The lame-duck Congress has until tomorrow to pass another extension of unemployment benefits. Otherwise, all those unemployed who’ve already maxed out their state benefits will be cut off. It’s a familiar scene. Unemployment is nearly at... Read more »