Without addressing demographic challenges, Wisconsin risks falling further behind economically
MADISON, Wis. – A new report from Forward Analytics finds that although Wisconsin has made gains across several key economic indicators, its progress continues to lag behind comparable states and regions, raising concerns about the state’s long-term competitiveness.
The report examines six indicators: population growth, labor force growth, real gross domestic product (GDP), per capita income, median household income, and poverty rates. While Wisconsin has seen moderate increases in output and income and a decline in poverty, the pace of growth has not kept pace with other states amid heightened competition for workers and residents.
Between 2017 and 2024, Wisconsin ranked in the bottom third of states for both population and labor force growth. During that time, population growth outpaced labor force growth, signaling challenges in retaining and expanding the state’s workforce. While some of this gap reflects broader demographic shifts, such as an aging population, retirements, and an increase in the number of children, the widening disconnect poses a long-term risk to economic growth.
“Wisconsin is entering a dangerous position,” said Kevin Dospoy, Director of Forward Analytics. “If the state wants to avoid falling further behind, it must address underlying demographic challenges, including population growth and workforce retention.”
Nationally, real GDP increased by 10.1 percent between 2017 and 2024. Although these gains seem substantial, Wisconsin ranked 38th among the 50 states over that same period. According to the report, slower economic growth constrains overall output and limits gains in both personal and median household incomes.
The Forward Analytics study concludes that without efforts to strengthen population and workforce growth, Wisconsin risks continued economic underperformance relative to the rest of the country.
