“Here to Work” advocates say extending legal work permits to long-term undocumented residents will help unite communities, stabilize the workforce and promote fair wages. Opponents argue that could come at a cost to taxpayers and drive down wages for legal citizens.
Economy
The price of spot gold reached $2,364 per ounce Tuesday after hitting record highs for seven straight sessions and trading at $2,336 per ounce Monday. Year on year, gold is up 16.5%.
Friday’s report from the Labor Department also showed that the unemployment rate dipped from 3.9% to 3.8%. The jobless rate has now remained below 4% for 26 straight months, the longest such streak since the 1960s.
“Like many cities, we are in the process of recovering from the impact of the pandemic, resulting in vacancies, particularly our storefronts and offices,” Mayor Brandon Johnson said. “We have to respond to these changes. As a city, we have to do it in a creative and collaborative way.”
Nearly 80% of voters in two precincts of the 7th Ward endorsed a referendum asking whether Ald. Greg Mitchell and Mayor Brandon Johnson should support “a Community Benefits Agreement (CBA) ordinance to prevent the displacement of renters, condo & home owners in South Shore in light of the impact of the Obama Center and growing development in the area.”
The state’s two main fiscal forecasting agencies agree: Illinois’ finances will see a strong close in the final 3 ½ months of the fiscal year before things tighten a bit next year.
The Obama Presidential Center, which broke ground in September 2021, had been slated to open in October 2025.
The company is closing 150 underperforming stores — 50 by the end of 2024 and the other 100 over the next few years. By 2026, it will have just 350 Macy’s stores, the company announced.
The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association for Business Economics. That’s up from the 1.3% predicted in the association’s prior survey, which was conducted in November.
Gov. J.B. Pritzker on Wednesday unveiled a $52.7 billion budget that he described as filled with “hard choices.” The plan builds on priorities like funding preschool, supporting Black residents, funding the neediest schools and caring for asylum seekers.
“I’m going to spend all that money, I can assure you of that,” Mayor Brandon Johnson said.
Voters in two precincts of the 7th Ward will be asked whether Ald. Greg Mitchell (7th Ward) and Mayor Brandon Johnson should “support a Community Benefits Agreement (CBA) ordinance to prevent the displacement of renters, condo & home owners in South Shore in light of the impact of the Obama Center and growing development in the area.”
Chicago spent less than $160 million on a host of programs including affordable housing, mental health, violence prevention, youth job programs and help for unhoused Chicagoans through Dec. 31, 2023, according to reports to the federal government.
According to a report from the New York Federal Reserve Bank, the real net worth of white individuals outgrew that of Black and Hispanic individuals by 30 percentage points and 9 percentage points respectively, from the first quarter of 2019 through the second quarter of 2023.
For first-generation individuals, building wealth can be intimidating. And while learning how to navigate finances can be challenging, it is possible. Giovanna González has made it her life’s mission to teach others how to tackle their finances while unpacking cultural and systemic barriers.
“The Biden administration has put in place the most extensive set of policies and investments to benefit the middle class and grow the economy that our country has seen in my lifetime,” Yellen said in a speech before the Economic Club of Chicago.
