Wisconsin Economic Outlook: May 2024

The employment forecast improves – from Wisconsin DoR:

Figure 1: Wisconsin nonfarm payroll employment (bold black), forecast from Nov. ’23 (red), from Feb. ’24 (tan), and May ’24 (sky blue), all in 000’s, s.a. Source: BLS, Wisconsin Department of Revenue.

Hence, since Wisconsin GOP’s January statement that Wisconsin was in recession, employment has grown. While it is possible for employment to increase even as a state is in recession, this combination seems highly improbable.

With a positive reading on national employment, it’s unsurprising that the Department of Revenue sees continued growth in Wisconsin employment.




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