Dept. of Revenue: Wisconsin economic outlook released

Contact: Linda Barth, 608-266-6466, dormedia@revenue.wi.gov

Employment and personal income growth expected to return in 2010

MADISON –The national and state economies continue to face employment losses in the remainder of 2009, but Wisconsin is expected to show mild recovery in employment and personal income starting in 2010, according to the quarterly Wisconsin Economic Outlook released today by the Department of Revenue.

Total state employment is expected to decrease by 3.8% in 2009, hitting bottom in the first quarter of next year and returning to normal growth in 2011. Wisconsin personal income growth will see a decline in 2009 before returning to growth in 2010 as wages begin to climb again. The drop is tempered by American Recovery and Reinvestment Act benefits, which are expected to boost transfer receipts (government benefits, i.e., unemployment) by 10.4% this year.

A special report on the state’s 12 largest metropolitan areas shows employment and personal income losses in 2009, with more robust growth toward 2011. The 12 areas comprise 21 of the state’s 72 counties and more than 67% of the state’s population.

“Our families, businesses and governments continue to be impacted by the global economic downturn,” said Revenue Secretary Roger M. Ervin. “Signs of economic recovery are welcome, but we must remain focused on creating and retaining good jobs and moving the state forward on a path of economic growth.”

The Executive Summary and full report are available at: http://www.revenue.wi.gov/ra/0911/0911.html