The latest WMC survey found lower support for tariffs among Wisconsin business leaders, though more respondents reported profitability in the second half of 2025.
Wisconsin Manufacturers & Commerce yesterday released the results of its Wisconsin Employer Survey on the economy and workforce. The group says business leaders in the state are “lukewarm” on the state and national economy.
“Although we see hints of optimism like increased hiring and a relatively good outlook for the U.S. economy, businesses are still frustrated with high healthcare costs and finding capable employees,” WMC President and CEO Kurt Bauer said in the report.
While 70% of surveyed business leaders continue to support tariffs, that marks a decline from the start of 2025 when 86% backed them. In the latest survey, 47% of respondents said tariffs had a negative impact on their business, 12% said they had a positive impact and 41% said they had no impact.
Ninety percent of respondents said they were profitable in the last six months of 2025, marking an increase from 86% in WMC’s summer survey. But 96% expect to be profitable in the first half of 2026.
Meanwhile, 60% said they’re having trouble finding workers. That’s an increase from 52% six months ago, but that was the lowest this measure has been in the last decade. It peaked at 88% in winter 2022. The recent increase indicates hiring is rebounding, according to WMC.
“This survey reveals that we have something of a bipolar economy,” Bauer said. “We have some good news and some bad news, but hiring trends are a sign that the economy is strengthening.”
Respondents had mixed views on the current strength of the state and national economy, with 60% saying the U.S. economy is moderate, 18% saying it’s strong or very strong and 21% calling it weak. At the state level, 73% said the economy is moderate, 19% said strong or very strong, and 8% said weak.
Still, 70% of respondents said they believe the country is headed in the right direction, compared to just 46% for Wisconsin alone.
When asked about their top business concerns, 32% said the national economy, 20% said health care costs, 16% said labor availability and 11% said excessive regulation.
But health care topped the list of state policy priorities for Wisconsin employers, with 43% saying the one thing state government could do to help them is make health care more affordable. That was followed by reducing or reforming regulations with 24% and reducing taxes with 16%.
The survey was conducted from Dec. 8 to Jan. 2 through an online survey and traditional mail, tapping 205 employers that WMC says are representative of its membership.
See the full results and the release.
