Chicagoans disappointed but hopeful on the economy

One day it’s up, the next day it’s down, way down. Given the tumultuous nature of the economy as of late, it’s hard to tell where the nation’s financial status is headed next.

But things may be looking up, Chicago. Last week it was announced unemployment rates—a trusted economic indicator—dropped two points in December in the Chicago-Naperville-Joliet area. Additionally, the Illinois Department of Employment Security reported there were 46,300 more jobs in Illinois in December than there were the year before. And according to Chicago Business, Employment Director Maureen O’Donnell says the long-term trend has Illinois gaining jobs. It may be a slow and steady climb, but it’s a climb nonetheless.

And there’s more good news: The Conference Board, an business research organization reported a jump of 15% in online job advertisements. Advertisements don’t equal jobs, but from all indications it’s one small step towards a large wave of economic recovery.

In light of this news, we wanted to get Chicago’s view of the state of things. We asked 50 people in the Loop to tell us what they think of the economy right now. You can see the results in our Tagxedo word cloud below.

Clearly, Chicagoans are hopeful but there is still a strong sense of skepticism among the respondents.

Michael Anderson of Chicago is worried that the economy won’t get better because of the people at the top.

Courtesy of The Chicago Tribune.

“We’re in bad shape. And it boils down to greed. If the top CEOs weren’t trying to make so many millions of dollars, things could be better,” says Anderson. “I mean, how much money does one person really need?”

There was a general consensus among those we interviewed—the wealth distribution in the U.S. is not entirely fair. The age-old sentiment rang true for many: the rich get richer, the poor get poorer.

But not everyone was feeling negative about the economy. More than a handful of respondents were hopeful 2011 would be the year of the recovery.

And if you’re going to be unemployed, Chicago’s not such a bad place to be, according to Chicagoan Jessica Bubin, a freelance visual artist who earned a PhD from the University of Chicago. “The only thing worse than being unemployed in Chicago is being unemployed in San Francisco or New York.”

• Curious about the economics of your neighborhood? How about the people that live on your block? Then check out this incredible interactive graphic from The New York Times and find out median income of your hood, how many people earn more than $200,000 around you and much more.
• Don’t get ballooned! Crain’s Chicago Business reports Com Ed is sending some customer so-called “balloon bills.” Watch Crain’s informative video on these bills and what you can do to prepare for them.
• See the full text of The Chicago Tribune’s Gail Marks Jarvis column here.