MON AM News: State income inequality on the rise, though slower than the national level; State’s winter wheat crop projected lower than last year

July 15, 2024

— Income inequality has been rising more slowly in Wisconsin than at the national level over the past three decades, though it remains on an upward trajectory.

In a recent UW-Madison Division of Extension report, Prof. Steven Deller examined trends in state and national income inequality. Concerns about how economic growth benefits the general populace “have been discussed for decades, if not centuries,” he noted.

“The most common concern is that higher-income individuals benefit disproportionately from economic growth, with the benefits trickling down slowly to lower-income individuals,” Deller wrote. “In other words, as the economy grows, the distribution of income tends to skew towards higher-income individuals.”

He used a metric created by Italian statistician Corrado Gini in 1909 in his analysis, drawing on data from 1917 to 2020. The “Gini Coefficient” ranges from zero to 1, with lower values representing a more even distribution and values closer to one showing greater inequality.

He found the state’s income inequality has historically remained below that of the country overall, suggesting that income distribution in Wisconsin is “generally more even.” The state’s inequality measure has largely followed the ups and downs of the national measure, while almost always remaining below it.

Deller notes the national Gini Coefficient has been on an upward trend since World War II, “highlighting concerns about rising income inequality” across the country.

After hitting its low point of around 0.36 in 1941, Wisconsin’s income inequality measure rose to just under 0.55 in 1989. From there, it had increased to around 0.60 by 2019.

In Wisconsin, the inequality metric has risen “slightly slower” than the U.S. average since about 1990, the report shows. Between 1989 and 2019, the national figure has increased from about 0.58 to around 0.66, Deller found.

“While the data for Wisconsin points to rising income inequality, the Gini Coefficient does not provide insights into the economic well-being of lower-income individuals, such as patterns in poverty rates,” Deller wrote. “It could be that the economic well-being of all individuals has been rising over time, but the distribution of that increase is uneven.”

See the report.

— Wisconsin’s winter wheat crop is projected to be 14% smaller than last year’s haul, according to the latest USDA figures.

The agency’s National Agricultural Statistics Service on Friday announced winter wheat production in Wisconsin is forecast to be 15 million bushels, down from 2023’s total of 17.5 million bushels.

Still, the state’s winter wheat yield — a measure of production per unit of land — is expected to be 79 bushels per acre, which is 3 bushels per acre higher than last year. Growers intend to harvest 190,000 acres for grain, marking a 17% decline from 2023.

Meanwhile, oat production is projected to hit 4.49 million bushels — a 2% decline from last year’s total of 4.58 million bushels. The state’s expected yield is 66 bushels per acre, which is 5 bushels per acre higher than in 2023. And growers plan to harvest 68,000 acres for grain, 7,000 acres fewer than last year.

See the report.

— This year’s Summerfest music festival had 11% fewer attendees than in 2023 as prolonged rainfall affected six of the event’s nine days.

Organizers on Friday announced Summerfest 2024 had 555,925 attendees, down from 624,407 in 2023. Still, last year’s event marked the festival’s 55th anniversary, and attendance in 2023 was 40% higher than in 2022.

Sarah Pancheri is president and CEO of Milwaukee World Festival, which produces the festival. In a statement on this year’s festivities, she acknowledged the “frequency of the rain was a challenge” but praised its lineup as one of the most unique to be found anywhere.

“Our team appreciates the support of our sponsors, artists, vendors, and fans as we absolutely found the Summerfest spirit throughout the run in 2024,” she said in a statement.

Organizers are also touting a record number of sponsorships for the festival this year with 64 in total, including 14 new sponsors.

See more in the release.

— In a recent GOP radio address, Sen. Rob Cowles celebrated tourism in Wisconsin ahead of the Republican National Convention in Milwaukee this week.

The Green Bay Republican touts the RNC as one of the largest events in Wisconsin in recent history, with tens of thousands of people expected to attend. He also notes the NFL Draft is set to take place in Green Bay next year.

“Large groups of tourists bring their wallets with them, and the money they spend patronizing local businesses and restaurants will stay in our communities and be felt statewide,” Cowles says.

The Legislature secured a $10 million appropriation to attract large events in Wisconsin in the 2023-2025 budget, according to Cowles.

“The 2024 RNC and 2025 NFL Draft ahead of us are a sign of incredible times for Wisconsin’s tourism industry,” he says.

See RNC coverage this week at the WisPolitics Convention Corridor page.

— U.S. Sen. Tammy Baldwin is touting $4 million in funding going toward health care apprenticeship programs of the Workforce Development Board of South Central Wisconsin.

The dollars come from the U.S. Department of Labor’s Apprenticeship Building America program, which aims to boost registered apprenticeship across key fields including IT and cybersecurity, advanced manufacturing, clean energy and more.

“We know there is a big demand for skilled workers in the health care sector, and this funding will help more Wisconsinites to earn while they learn, equipping them with the needed skills to close this critical gap and land a good-paying job,” the Madison Dem said Friday in a statement.

The board says it will use the funding to establish health care apprenticeship pathways to create more skilled professionals in the field, as well as providing training programs.

It has a focus on those seeking to become a registered nurse, medical assistant or respiratory therapist through existing programs, and will also create a new surgical technologist apprenticeship as well.

Seth Lentz, the board’s CEO, says the “significant investment will empower our partnerships with key workforce, industry and education partners to expand and establish crucial apprenticeship pathways in healthcare.”

See the release.

— WEDC is providing funding to two Wisconsin biohealth organizations in its latest round of entrepreneurship grants.

The Wisconsin Economic Development Corp. last week announced $850,000 in funding for seven groups providing technical and financial help to startup leaders.

A total of $192,200 is going to Madison-based Forward BIOLABS, which offers laboratory space and other help for biohealth startups. The group will use the grant funding to provide technical assistance support to 35 people and financial assistance to 10 people, according to the release.

Another $200,000 is going to Milwaukee-based Bridges to Cures Inc., which helps entrepreneurs in southeastern Wisconsin commercialize their health care research and inventions. Funding will help the group provide technical help to 30 startups and financial support to 22 startups and startup teams.

See the release and see more at Madison Startups.

For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.

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— New North Inc. has named three Wisconsin-based executives to its board of directors.

The economic development group on Friday announced the new board appointments, which took effect at the start of July. The new board members include:

*Holly Brenner, senior vice president of strategic development and marketing for C.D. Smith Construction, based in Fond du Lac.

*Sherry Coley, managing partner for the Appleton and Green Bay offices of business law firm Amundsen Davis.

*David Westphal, Kimberly-based Wisconsin property & casualty practice leader for USI Insurance Services, one of the world’s largest insurance brokerage and consulting firms.

“We are excited to add these three inventive leaders from across our region,” Barb LaMue, president and CEO of New North, said in a statement. “They represent pillar industries within the New North and their perspectives will benefit us greatly.”

See the release.

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