Job Gains Made in Early 2010

According to the Wisconsin Economic Outlook, Wisconsin started to add jobs in January and is expected to add 20,150 jobs during 2010.

Wisconsin will gain employment and income in 2010 and the state’s economy will return to post moderate year-over-year growth rates in the second half of the year.  However, it will take until 2013 to reach the pre-recessionary level of employment.  Wisconsin’s personal income declined 2% in 2009, but the forecast calls for 3.0% growth in 2010.

The report also shows the housing sector indicated some signs of a slow recovery last year at both the state and national level.  The slow recovery of the labor market, cautious consumers, tight credit markets and a subdued housing sector will moderate the pace of the recovery.

Wisconsin Revenue Secretary Roger Ervin states, “A steady recovery has clearly started here in Wisconsin and on the national level.  Wisconsin has added more jobs this year and we expect to see more in the coming months.  Nationally, employment is on the rise, retail sales are ahead of where they were at this time last year, and the real gross domestic product has risen for three consecutive quarters.”

The Executive Summary and full report are available at: http://www.revenue.wi.gov/ra/econ/index.html

Source:  http://www.dor.state.wi.us/news/EconomicOutlook201005.pdf