Midwest Memo: Regional Economy Still Grows, but Pace Slows

Three stories making news across the Midwest today:

1. Mixed news for Midwest economy. The Midwest economy is still growing, albeit not at as fast a pace as previous months. That’s the conclusion of a report issued today from the Federal Reserve Bank of Chicago. The Midwest Economy Index decreased to +0.83 in May from +0.94 in April. It remained above its historical trend for the 15th consecutive month.

2. Chicago mayor: 625 could lose jobs. If unions do not make concessions that help the city of Chicago save $16 to $20 million by tonight, Chicago mayor Rahm Emanuel says 625 city employees could face layoffs. An agreement on labor concessions through the first six months of the year expires at midnight tonight, according to our partner station WBEZ.

3. SB5 opponents deliver signatures to Columbus. Protesters of an Ohio bill that limits collective-bargaining rights of public employees descended upon Columbus on Wednesday. Approximately 6,000 people delivered nearly 1.3 million signatures to the statehouse in hopes of placing a referendum on SB5 on the state’s November ballot, our partner Ideastream reported.

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