Small Businesses Losing Money as Revised Unemployment Numbers Underscore Challenging Economy for Illinoisans

SPRINGFIELD – The U.S. economy is showing signs of strain with new data revealing fewer jobs added in 2023 and early 2024 than originally reported, according to State Senator Dave Syverson (R-Cherry Valley).

The U.S. Department of Labor’s revisions cut job growth estimates by 28 percent, and July numbers show Illinois is now tied for the second-highest unemployment in the nation. Meanwhile, small businesses in the state are struggling more than ever, with many making less money than last year, as new tax hikes present additional challenges.

Recent data shows that job growth across the country hasn’t been as strong as initially reported. The U.S. Department of Labor released revised job numbers on Aug. 21, revealing that around 818,000 fewer jobs were created during the past year than originally thought. The revised numbers are a sign that fault lines in the labor market are deeper, and began shifting earlier, than previously known.

Senator Syverson says the situation is particularly difficult in Illinois. The unemployment rate jumped to 5.2 percent in July, tying for the second-worst in the country. This means more than 341,000 people in Illinois are looking for work.

Job creators in Illinois are also feeling the pressure. A recent survey by Alignable found that 58 percent of small businesses are making less money than they did last year—a 7 percent increase from the previous month. To make matters worse, Gov. JB Pritzker just signed nearly $1 billion in new tax hikes into law.

Across the country, 73 percent of small-business owners say they’re earning less than they did last year. More than 80 percent of these small businesses in industries like manufacturing, beauty salons, and real estate are seeing big drops in revenue, making it a challenging time for job creators everywhere.

This economic landscape paints a challenging picture for Illinois families. As the job market falters and new taxes take their toll, many families are finding it harder to make ends meet. The latest data is a stark reminder that the economy remains fragile, leaving many in Illinois uncertain about what the future holds.

Senator Syverson voted against the Governor’s recent tax hikes, warning they will hamper job growth and raise costs for Illinois residents. He believes these tax hikes are driving more people and job creators to leave the state.

Funeral Home Investigation Spurs New Law on Handling Human Remains

The Illinois State Police have officially concluded their investigation into the Heinz Funeral Home in Carlinville, with findings now in the hands of the Macoupin County State’s Attorney. This investigation highlights the importance of oversight within the funeral home industry, particularly in the handling of human remains.

In September 2023, Sangamon County Coroner Jim Allmon announced that his office had started an investigation into Heinz Funeral Home/Family Care Cremations in Carlinville. This action was taken after numerous families reported receiving the incorrect cremated remains.

In response to concerns raised by this and similar cases, legislative measures were proposed throughout the spring legislative session to prevent future incidents and hold funeral homes to higher standards.

Senate Bill 2643 creates new regulations to hold funeral homes accountable. The law establishes a tagging system for all human remains, ensuring they are returned to the correct next of kin and mandates detailed chain of custody documentation for all deaths in Illinois.

Reduce DMV Visits with New License Options

Illinois drivers will soon have the option to choose between a four-year or eight-year driver’s license, thanks to new legislation recently signed into law.

Senate Bill 275 requires the Secretary of State to establish rules for this process by January 1, 2027, with the new options available to motorists by July 1 of that year.

This change aims to reduce the frequency of visits to the DMV, offering convenience to drivers and aligning Illinois with other states that already offer longer license validity periods. The cost for an eight-year license will be $60, double the cost of a four-year license.

This new law is expected to ease the challenges motorists face when scheduling appointments at driver services facilities, providing greater flexibility and reducing wait times.

Increase Transparency in Local Government

A new measure was recently signed into law to enhance transparency and public access to information regarding proposed tax levy changes by local governments.

Senate Bill 3567 amends Illinois’ Truth in Taxation law to require taxing bodies to prominently display notices on or near the top of their websites for a minimum of 30 days. Under the existing Truth in Taxation law, taxing bodies are required to publicly disclose their intention to raise their tax levy by more than 5 percent. The new law will require online visibility in addition to the current mandate that these notices be published in local newspapers.

The dual approach is designed to maximize the reach and effectiveness of public disclosures, providing residents with multiple opportunities to stay informed about potential increases in their property taxes.