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Economy

New tariffs have shrunk Illinois’ economy and cost households $2,200 per year

By Frank Manzo IV
Aug 08, 2026 7:00 am - New research from the Midwest Economic Policy Institute and the Project for Middle Class Renewal at the University of Illinois finds that Midwest families, manufacturers, and farmers have been paying the bill for the Trump administration’s tariff policies.
US employers unexpectedly cut 23,000 jobs amid strain from the Iran war, unemployment dips to 4.1%

By PAUL WISEMAN
Aug 07, 2026 7:57 am - U.S. employers unexpectedly cut 23,000 jobs last month, and Labor Department revisions shaved 103,000 jobs off payrolls in May and June. But the unemployment rate dipped to 4.1% as Americans left the job market.
US filings for jobless benefits rise to 199,000 last week, but layoffs remain historically low

By MICHELLE CHAPMAN
Aug 06, 2026 7:55 am - The number of Americans applying for unemployment benefits rose last week but layoffs remain in the historically healthy range of the past few years.
Illinois joins lawsuit over Trump’s new tariffs, calling them ‘pretext’ to replace his old ones

By PAUL WISEMAN and MAE ANDERSON
Aug 04, 2026 1:13 pm - Twenty-five states, including Illinois, sued the Trump administration Monday over its latest tariffs, calling them a pretext for replacing import taxes the Supreme Court struck down in February.
US job openings slip to 7.4 million, but labor market remains resilient in face of fighting in Iran

By PAUL WISEMAN
Aug 04, 2026 9:56 am - U.S. job openings fell slightly in June, but the labor market continued to show resilience in the face of an economic shock from fighting in Iran and the closure of the Strait of Hormuz.
Trump is making a rare Western trip to to raise cash for Republicans and talk about the economy

By DARLENE SUPERVILLE
Aug 04, 2026 7:53 am - President Donald Trump is making a rare visit to California and Nevada this week to try to draw contrasts with Democrats on the economy, border security and crime, seeking to shore up support for Republicans in November elections that will determine whether his party keeps control of Congress.
Chicago’s neighborhoods hold an untapped workforce for suburban businesses

By Matt Paprocki
Aug 01, 2026 7:11 am - Warehouse operators along the Interstate 55 corridor. Manufacturers in DuPage County. Distribution centers stretching from Joliet to Elgin. Many are looking for the same thing: dependable workers.
Urban League report says Trump administration is harming Black Americans’ chances at American Dream

By MATT BROWN
Jul 30, 2026 7:26 am - The American Dream may not be dead for many Black Americans, but it is further away than at any point since the Civil Rights Movement, warns a report by the National Urban League.
Federal Reserve votes 9-3 to leave key rate unchanged despite persistently high inflation

By PAUL WISEMAN
Jul 29, 2026 7:45 am - The Federal Reserve left its key interest rate unchanged Wednesday despite persistently high inflation and a spike in energy prices caused by the Iran war.
Wall Street’s flip from AI to less-loved stocks accelerates, while oil prices keep easing

By STAN CHOE
Jul 28, 2026 4:10 pm - Most of Wall Street rose Tuesday, even as stocks of computer chipmakers continued to tumble worldwide. Oil prices, meanwhile, eased further from the two-month high they hit last week.

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