Illinois’ 2013 unemployment rate for whites and Hispanics is projected to stay consistent with 2012, according to the Economic Policy Institute. But the rate for African Americans is expected to decrease to 13.9 percent, but still stay above the national average.
The report suggests “our leaders have gotten sidetracked by potentially harmful calls for deficit reduction” and should instead borrow money to “invest heavily in infrastructure improvements, which create large numbers of jobs and stimulate the economy.”
“Policymakers need to focus on jobs now, and on deficits only after we have a strong economy,” the report reads. The Washington-based Economic Policy Institute is a non-profit think tank often presenting a liberal viewpoint on economic issues.
According to the author of the report, Algernon Austin, director of the program on race, ethnicity and economy at the Economic Policy Institute, infrastructure spending has a “big bang for your buck” and would positively stimulate the economy.
“That means we could put a lot of unemployed construction workers to work right now, and way into the future, infrastructure investments lead to higher productivity, it’s a win-win,” he said. “The borrowing costs are quite low for the government right now, the smart thing at the federal level is to borrow investment for infrastructure, put people back to work and ensure long-term strong economic productivity.”