Average annual expenditures, United States and Chicago, 2017-18.
Despite hopes to “get back to normal,” the recovery has been slow, and it’s unclear what any long-lasting changes are, said Jose J. Vazquez-Cognet, an economics professor at the University of Illinois at Urbana-Champaign. Illinois is so broke that virtually nothing is sacred: Even historic sites connected to Abraham Lincoln could face significant cuts in the upcoming state budget. After long debate, the city chose to build a new facility by utilizing the old Orchard Field (hence the official acronym “ORD” used on luggage tags) in northwest suburban Park Ridge. Need-to-know stories from Crain's and around the web. We have this dilemma where we want to stimulate the economy through things like infrastructure plans, but that short-term economic jolt also means we're not paying our pension obligations and are making things worse down the line.
Uncertainty fuels back-to-school stress—for everybody, COVID-19 upends daily life for parents, students, Speed bumps on the road to remote learning, From free to pricey, ‘pandemic pods’ spring up to give parents and kids the schools they need now, The Most Powerful Women In Chicago Business. The coronavirus pandemic quickly inflicted damage on Chicago’s economy as government shutdowns and social distancing restrictions forced business slowdowns and closures.
During a six-month period, hundreds of thousands of area jobs were lost, consumer spending dropped 43%, and more than half of temporary business closures became permanent. Industrial diversification also depended on a skilled workforce, whose numbers were enhanced through a tradition of innovative vocational training.
Monday-Friday at 7 a.m. A roundup of the day's important business news. Chicago’s expressway system dates to the 1920s, when Lake Shore Drive was rebuilt as a divided highway. If companies invest in larger office spaces for social distancing, commercial construction could see solid growth. But while the housing market has run hot, demand for rental properties has cooled. WILLIAM SANDER: People have too negative of a view about Chicago—we're not Detroit. We have a problem in sectors like manufacturing, for example, because employers are having trouble finding workers with the right skill set. Chicago has one of the world’s largest and most diversified economies, with more than four million employees and generating an annual gross regional product (GRP) of over $698 billion. Have something to get off your chest? Privately owned and municipal bus routes in the suburbs were similarly united under the name of Pace (1983). Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com, Sensex, Nifty fall for sixth session; slides in Reliance, TCS weigh, Pets At Home : upbeat on profit despite risk of another lockdown, Smiths : Engineering firm Smiths plans job cuts after annual profit falls, Cineworld : London stocks fall as weak earnings weigh; Cineworld slumps, SIG : posts loss on virus hit, lifts 2020 revenue view, AA : in talks over bid from Towerbrook, Warburg Pincus group, Germany's Ifo Index Rises in September Despite More Infections -- Update, Thames Estuary Growth Board sets out criteria for freeport proposals, The COVID-19 epidemic deterred around half a million Slovenian residents from traveling, As COVID surges, UK to unveil new job protection plans, EU watchdog calls for tax data sharing powers to combat fraud, S&P Global sees near 10% plunge in UK economy, warns on Brexit, China's Unreliable Entity List Not Targeted at Specific Countries or Companies, Says Commerce Ministry, Japan upgrades view on exports and output, but flags economic weakness.
Chicago Economy Masonry.
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