Analysis of Illinois Rankings and Fiscal Health
Illinois Ranks Poorly in Fiscal Health and Economic Outlook, According to New Analysis
Illinois has been ranked No. 38 among U.S. states in a recent state-by-state analysis, receiving dismal marks for its fiscal health and economic outlook. The latest U.S. News & World Report rankings place the state last in the nation for short-term and long-term fiscal stability, No. 43 for its economy, and No. 40 for opportunity.
Despite these low rankings, Illinois did perform relatively well in the crime and corrections category, coming in at No. 15. The state fared better than the national average for incarceration rates and violent crime per 100,000 residents.
The analysis took into account factors such as pension liabilities, budget balancing, and liquidity. While Illinois has seen an improvement in its credit rating over the years, its liquidity numbers were found to be well below the national average.
In terms of the economy, Illinois ranked below the national average for job creation and net migration, with more people leaving the state for other opportunities. However, the state did rank above average for cost of living, median income, and poverty rate.
Education metrics in Illinois were relatively strong, particularly in K-12 education where the state ranked No. 7. The high school graduation rate exceeds the national average, while math test scores are slightly above average. Student loan debt in Illinois is also slightly higher than the national average.
Overall, the ranking looked at 71 metrics in six categories to assess how well states serve their residents. Despite its challenges, Illinois continues to strive for improvement in its fiscal health and economic outlook.
