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Economic Recovery Slow to Come in Illinois
Illinois is not recovering from the economic recession as quickly as expected. The state's monthly economic indicator, from the University of Illinois, dropped for the second month in a row. The Flash Index fell to 90.6 in May, down from 91.0 in April.

U. of I. economist Fred Giertz says the state's high unemployment rate contributed to the drop. Illinois faces an 11.2 percent unemployment rate while the national average is 9.9 percent.

Giertz says other factors played a role as well, like the oil spill in the Gulf of Mexico and some instability in European markets. Giertz says the reading is disappointing, but shows the state will need much more time to bounce back.

A Flash Index reading over 100 indicates economic growth, while a reading below 100 indicates contraction. The Flash Index is published at the start of each month.

(Illinois Radio Network)
06 02 10 by Newsroom
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