A new forecast of state and local government credit conditions ranks Illinois last in the region for job growth.
The report, from rating agency Standard & Poor’s looks at economic growth by region. Illinois is included in the East North Central area, along with Indiana, Michigan, Ohio and Wisconsin.
Region-wide, the report predicts a slight improvement in unemployment rates, but warns that the projected 6.61% average for 2014 is likely to remain above the national average and that the area is likely to experience slower growth than other regions.
The report predicts slow growth for all five states and the agency says they lowered their outlook for Gross Domestic Product growth for the region from 1.89% to 1.3%.
“Higher concentration in manufacturing and slower population growth than other regions could be contributing factors,” S&P notes.
The analysis predicts manufacturing job growth through 2014 of 1.63% for the region, but then declares, “Illinois, despite being the least manufacturing-reliant state in the region, ranks last in job creation.”