Economy

The Will County Center for Economic Development gave its annual report at a breakfast at the Bolingbrook Golf Club Friday, addressing issues of housing, business development, and employment in the county.

The proposed merger of Kroger and Albertsons grocery chains has been temporarily halted by an injunction, further delaying the proposed sale of suburban Jewel-Osco stores.

Despite unexpected wrinkles in a year of transition, members of a countywide group that advocates for economic development said Friday they believe DeKalb County is poised for growth.

Donald Trump says he can’t guarantee his promised tariffs on key U.S. foreign trade partners won’t raise prices for American consumers

America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls

Inflation in the United States ticked up in October, driven by costlier rents, used cars, and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021

Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president

The Federal Reserve cut its key interest rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week

America’s employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls

The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates

Appearing before a friendly audience at the Economic Club of Chicago, the Republican presidential nominee repeatedly asserted that tariffs are misunderstood as an economic tool

Most mainstream economists say Trump’s policy proposals wouldn't vanquish inflation. They’d make it worse.

Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race

The same analysis says former President Trump's ideas could heap another $7.5 trillion onto the debt and possibly as much as $15.2 trillion

America’s employers added a surprisingly strong 254,000 jobs in September, the latest evidence that the U.S. labor market is still solid enough to support steady hiring and a growing economy

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for consumers

Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September

Union organizer says fewer than 100 production workers at Joliet plant before Wednesday layoffs.

A state lawmaker from Joliet said she's been in contact with Ascension to plan a town hall “in order to provide answers to the community" regarding the Prime Healthcare acquisition.

The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates

As parking demand in downtown Oswego increases, the village has been able to keep up with the demand.

The $30 million facility in Bolingbrook is expected to open some time between Oct. 1 and Dec. 31 following the buildout of the existing site.

America’s employers delivered a healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand continually high interest rates

Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said, while adding that more such evidence would be needed before the Fed would cut interest rates

A groundbreaking ceremony was held in Joliet to celebrate the construction of an Agile Cold Storage facility that will meet the rising demand for food products stored at different temperatures.

Inflation in the United States eased last month in a hopeful sign that a pickup in prices that occurred early this year may have passed.

Gas prices are once again on the decline across the U.S., bringing some relief to drivers now paying a little less to fill up their tanks.

After Federal Reserve officials meet this week, a statement they will issue may suggest that they’ve seen meaningful progress on inflation this year — a prelude to eventual interest rate cuts

America’s employers added a vigorous 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates

Wednesday's report of moderating price increases may provide a dose of reassurance that inflation could be resuming its slowdown toward the Fed's target.

The nation’s employers pulled back on their hiring in April, adding a modest 175,000 jobs in a sign that persistently high interest rates may be starting to take a bigger toll on the world’s largest economy

LIV Golf tour will bring some of world's top golfers to Bolingbrook in September.

The nation’s economy slowed last quarter, growing at an annual rate of 1.6% in a sign that the high interest rates may be taking a toll on borrowing and spending.

President Joe Biden has told an audience of cheering unionized steelworkers that his administration will block the acquisition of U.S. Steel by a Japanese company

Millions of jobs that new immigrants have been filling in the United States appear to solve a riddle that has confounded economists for at least a year

But now, with the U.S. economy showing surprising vigor, a different question has arisen: Will the central bank really cut rates three times this year, as the Fed itself has predicted — or even cut at all?

America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates

A study states Fermilab spending in fiscal 2022 contributed $1.6 billion in economic output and supported 7,242 jobs in Illinois and South Dakota

The state’s two main fiscal forecasting agencies agree: Illinois’ finances will see a strong close in the final 3.5 months of the fiscal year before things tighten a bit next year.

America’s employers delivered another healthy month of hiring in February, adding a surprising 275,000 jobs and again showcasing the U.S. economy’s resilience in the face of high interest rates

Inflation has changed the way many Americans shop. Now, those changes in consumer habits are helping bring down inflation.

The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association for Business Economics. It’s the latest signal of strength for an economy that’s blasted through predictions of a recession.

Tuesday’s report from the Labor Department showed that the consumer price index rose 0.3% from December to January, up from a 0.2% increase the previous month. Compared with a year ago, prices are up 3.1%.

Friday’s report from the Labor Department showed that last month’s job gain topped the 333,000 that were added in December, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.

Stocks are near record highs. Growth was surprisingly strong last year. And once-hot inflation has begun to cool. But so far, U.S. adults are feeling only slightly better about the economy.

Will County Center for Economic Development CEO Doug Pryor points to factors affecting Joliet economy including a growing Hispanic population and the average age in Joliet is 33.5-years-old.

The Federal Reserve indicated it’s nearing a long-awaited shift toward cutting interest rates, a sign that its officials have grown confident that they’re close to fully taming inflation

The latest data suggests that the economy is achieving a difficult “soft landing,” in which inflation falls back to the Fed’s target without a recession. That outcome could make it easier for the Fed to consider cutting its key interest rate.

This is the sixth straight quarter in which GDP has grown at an annual pace of 2% or more.

Economists say consumers appear to be responding to steadily slower inflation, higher incomes, lower gas prices and a rising stock market.