A recent report from the Wisconsin Policy Forum shows we’re on a bit of a bumpy economic ride. The statewide unemployment rate is way down. But it’s also way up in six sectors. That’s a bit nutty.
Here’s Five Fast Facts on Wisconsin’s Economic Recovery :
- 📈Up With People - The job market has almost completely recovered to pre-2020 levels. In April of 2020, the unemployment rate was at an all-time low of 14%. Last month, it was down to 2.9%. That’s quite a drastic climb.
- ⏸️Pause - It is worth noting that there we need to fill 69,428 jobs to put us back to where we were in December of 2019. That’s not exactly bad news.
- 📉Down in the Hole - Six areas of the economy make up more than half of that unemployed number. They include clothing stores; amusements, gambling and recreation; membership associations; accommodations; personal and laundry services and food services and drinking places.
- 🚚Drivin’ and Storin’ - Jobs in transportation and warehouse work showed the biggest jump with an overall 6% growth compared to pre-pandemic levels! Apparently people DO want to work, it’s just in certain fields.
- 🛏️No Place to Rest - The report points to the nursing home and residential field being the biggest area of concern.
🔥Bottom line: Wisconsin is coming back fast. The listed six areas really shouldn’t be a surprise, considering they were hit hardest during the pandemic and those employees are finding work elsewhere. That spectacular 6% growth in two industries also shows that people DO want to work, despite public opinion.
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