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Star Info
As tax day approaches, Illinois families may notice a decrease in their annual income, according to a recent study.
The "State of Working Illinois" report revealed the median family's income has endured a $6,383 decrease during the past six years. The study was conducted by NIU's Regional Development Institute, Office for Social Policy Research and the Center for Tax and Budget Accountability.
Robert Gleeson, associate director of RDI, explained the "boom economy" of the 1990s and an increase in service sector jobs are part of the problem.
"Really what's happened is a combination of things. We've taken some pretty big hits since 2000," Gleeson said. "The consequence of that has been pretty widespread."
Gleeson also offered some advice for the current generation: Stay in school.
"If you don't get over the education hurdle your income is going to have a backward slide," Gleeson said.
Economics professor Khan Mohabbat agreed with Gleeson's correlation between education and a higher income.
"If you find a correlation between income and human capital, by and large those with a higher education really earn much more than their counterpart who has only earned a high school education," Mohabbat said.
However, those who choose to enter the labor force early are not completely in the red. Laborers can find some income protection through joining a union.
The average weekly earnings of union members are 18.4 percent higher then non-union members in similar jobs, according to the report.
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