WisBusiness: State forecast sees unemployment peaking early next year

By WisBusiness Staff

Wisconsin’s projected job loss from the recession has improved slightly since June.

But a new economic forecast from the Department of Revenue still projects a peak-to-trough job loss of 143,000, about 5 percent of total employment in the state. That’s down slightly from the projection of 155,300 lost jobs that was released this summer.

The report also projected the state’s adjusted unemployment rate would peak at 9.3 percent during the first quarter of 2010 before beginning to recover. It projects the state to return to its pre-recession job numbers by the end of 2012.

Personal income is expected to drop 3.3 percent in 2009 before increasing 2.1 percent in 2010, 3.8 percent in 2011 and 5 percent in 2012.

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