Thursday, January 10, 2013
With a fiscal cliff looming, the Department of Employment Security said last month that a solution was necessary to help improve jobless rates.
Unemployment rates in Illinois dropped slightly from October 2012 to November, to 8.2 percent, and are a full percentage point compared to 2011, according to new figures released last week. November local unemployment rates fell in 11 of 12 metro areas compared to last year, according to data released by the U.S. Department of Labor and the Illinois Department of Employment Security. "The trend of falling unemployment rates across Illinois shows that our economy continues to improve," IDES Director Jay Rowell said. "The largest challenge to local economic growth is the fiscal cliff. Economic progress could slow at every level and we risk another recession if Congress does not work together to craft a solution." Earlier this week, …
Monday, January 7, 2013
Many of us were glad that the deal was done, but there are more scary days ahead.
- On opinion
Monday, January 7
Friday, December 28, 2012
If Congress fails to pass an extension of the Bush era tax cuts by midnight Monday, American paychecks will get smaller. You can use the fiscal cliff calculator to see the impact on your paycheck.
With leaders of Congress becoming more and more skeptical that a deal will be reached before midnight Monday to avoid the fiscal cliff, it becomes increasingly likely that American paychecks will get smaller Tuesday, according to a story in today’s New York Times. “I have to be very honest,” Senate Majority Leader Harry Reid said in the New York Times article. “I don’t know time-wise how it can happen now.” The Senate reconvened today in an unusual session between Christmas and Jan. 1. Even if the Senate passes legislation, the House of Representatives will not come back into session until Sunday barely 24 hours before the deadline, according to a story today on Politico. If no deal is reached, a single person with two exemptions earning $…