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According to the personal finance website WalletHub, Illinois is
ranked 40th in the nation in its efforts to recover from the
pandemic.
The website used 21 metrics to determine the ranking, including
vaccination rates, consumer spending, and the real GDP vs.
pre-COVID-19 levels.
Analyst Jill Gonzalez said overall governors who didn’t
implement strict restrictions on businesses and the public are
experiencing a faster comeback.
“Kind of the policies and the politics here, which states never
closed at all or closed a lot less, they are doing better
economically,” Gonzalez said.
Gov. J.B. Pritzker imposed restrictions in March 2020, including
the closure of nonessential businesses. While most restrictions
have since been relaxed, the state is expected to fully reopen
this Friday lifting most business and gathering limits.
For some, it will be too late, and many businesses, including
hundreds of bars and restaurants, have already closed their
doors permanently.
Illinois’ unemployment rate is hovering around 7%, which is the
worst in the Midwest and ranks 41st in the nation. The national
average is 6.1%.
Gonzalez said the economy should get a boost as people who have
been stuck inside are beginning to spend money.
“We also saw a lot of people pay down debt over the pandemic and
the beginning of 2021, so that is also good news,” Gonzalez
said.
Iowa was ranked first for the quickest recovery. Gov. Kim
Reynolds months ago ended mask mandates and gathering
restrictions. Nebraska and Alaska rank 2nd and 3rd.
The three states with the slowest recovery are Michigan, West
Virginia and Oregon.
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