Tag: economics

High gas prices might squeeze Chicago's poor tighter than others

With gas prices registering $1.25 a gallon higher than they were last year in the Chicago area, the average household is spending more on gas. Economists estimate that it’s almost 8 percent of their income on gas. But some say that percentage is probably higher for the poor who earn less and typically travel farther... Read more »

News Roundup: Unemployment claims rise unexpectedly

As the economy continues to reel, claims for unemployment benefits increased by 20,000 last week to 457,000, according to the U.S. Department of Labor. Wall Street experts had predicted a smaller jump. More at chicagoreporter.com   Also in the news… CEO of Chicago Public Schools Ron Huberman confirmed that he plans to step down at... Read more »

News Roundup: Chicago's jobless rate improves, slightly

The Chicago jobless rate has fallen to 9.4 percent from last year’s 10.4, matching the Illinois rate, but still slightly higher than the national rate of 9.2 percent. The country’s economy grew at a two-percent rate between July and September, an improvement over the 1.7 percent growth between April and June. However, economists surveyed by... Read more »

News Roundup: Real friends scarce for kids in violent neighborhoods

Children in violent Chicago neighborhoods are increasingly wary of friendships, according to a University of Chicago study. The study shows that these children are intensely testing the loyalties of their potential friends and doing background checks before letting anyone get close. The pre-teen years are typically when youth learn how make friends, and growing up... Read more »

Can education end poverty?

The Midwest has taken a beating lately. Think national poverty rates are high? Midwestern rates are eight  times higher, says a Heartland Alliance analysis. Illinois isn’t an exception. In 2009, while the national unemployment rate hovered around 9.3 percent, ours hit 10.1. Over the last decade, unemployment rates in Illinois grew 129 percent. It’s probably... Read more »