PrintNovember 8, 2008
That's the Chicago way...
It's a good thing for Chicago that so many tourists want to visit Barack Obama's hometown! Here is a perspective from one of his "homeys"
"Total employment in metropolitan Chicago grew moderately before the 2001 recession, declined from 2000 through 2003 and rose again in 2004 and 2005. The region gained 346,000 jobs (an 8.2 percent increase) from 1995 through 2000. Despite recent gains, total employment fell total employment fell by 109,900 (2.4 percent) from 2000 through 2005. Over the entire period 1995-2005,the region gained 236,100 jobs (5.6 percent), well below the national growth rate.Manufacturing employment declined almost continuously since 1995,with the largest annual losses occurring in 2001 and 2002. The region lost 35,700 manufacturing jobs (a decline of percent) from 1995 through 2000 and another 141,300 (22.2 percent) from 2000 through 2005. The result was a loss of 177,000 manufacturing jobs (a 26.3 percent decline) over the entire decade, the largest total loss of all regions in this analysis."
Since 2005, Wm. Wrigley has closed its manufacturing plant on the South Side, resulting in another 600 lost jobs. So while Wrigley Field and the iconic Wrigley Building are still there to draw tourists, don't expect to see anyone making DoubleMint gum. Those jobs moved to Yorkville Illinois, away from the property taxes in Cook County (and only Cook County) that shift the tax burden off residential properties (the "95%" who get a tax cut) and on to commercial and industrial properties (the 5% that will pay their "fair share"). As this article so succinctly puts it: "Cook County property tax rates are 3-7 times higher than in other Illinois counties because of the Cook County Classification System".
The past is prologue I'm afraid. Watch out America!
The past is prologue I'm afraid. Watch out America!
