Report: Fewer Illinois taxpayers expected to stress state’s finances

Illinois’ shrinking population could eventually lead to weakened economic prospects, a new study suggests. According to Pew Charitable Trusts, a third of all states lost population in 2021. Joanna Biernacka-Lievestro says state governments need to find ways to retain or grow the population or it will eventually be detrimental to state budgets.

The report noted the states with long-term population declines, like Illinois, all fell near the bottom of economic growth over the 12-year recovery from the Great Recession. Among the 17 states where population declined over the year, losses were greatest in New York and Illinois.