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The final statewide seasonally adjusted unemployment rate in January was 12.6 percent, down .2 percent from December, partly due to an increase of 100,000 jobs — mainly in the automotive industries and home building. Final seasonally adjusted unemployment rates in November in the state's Standard Metropolitan Statistical Areas were up in all but one, Rockford, with 21.3 percent. The other SMSA's were: Bloomington-Normal, 8.9 percent; Champaign-Urbana-Rantoul, 7.7 percent; Chicago, 11.4 percent; Davenport-Rock Island-Moline (Illinois Sector), 20.7 percent; Decatur, 18.7 percent; Kankakee, 19.1 percent; Peoria, 18.3 percent; Springfield, 9.4 percent; and East St. Louis (Illinois Sector), 13.2 percent. . . . Total general funds revenues in the first seven months of fiscal 1983 were $4,769 billion, which is 6.2 percent higher than comparable revenues in seven months of fiscal 1982, but lower than revenues for fiscal 1981 and 1980. Increases in state sources were in transfers from other state funds, the lottery, and a $31 million increase in the sales taxes; revenues from federal sources were also up by 19.7 percent compared to fiscal 1982. These increases were offset in part by decreases in corporate income taxes, investment income and the inheritance tax. General funds expenditures in the first seven months of fiscal 1983 were $4.839 billion, or 5.6 percent higher than in 1982. Around $30 million of the total increase is in the higher education operations spending, but it is $7 million less than comparable appropriations in fiscal 1982, and spending is planned for a further reduction of $13 million. . . .State funds for the month of January rose from December's low figures but continue to fall below the $200 million "warning zone" level. In January, the state's end-of-month general funds balance was $116.7 million; the average daily available balance was $102.7 million; and the combined funds end-of-month balance was $189.3 million. Comptroller Roland W. Burris noted that the $116.7 million month-end balance was made possible only through Thompson administration efforts to secure approximately $150 million in federal aid from the Public Aid Trust Fund ahead of the normal schedule.


March 1983 | Illinois Issues | 28



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