• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / Politics / Govt / Recession hits Wisconsin

Recession hits Wisconsin

January 2, 2009 By WRN Contributor

Wisconsin's economy has officially entered a recession.

The latest figures from the Department of Revenue's Wisconsin Economic Outlook have all the signs that the Badger State is in a recession.

DOR economist John Koskinen says the news was not a big surprise, based on the direction of the national economy. He says freezes in the credit market, the rise in unemployment, and problems in the housing market have all be contributing factors.

On the job front, Koskinen says total employment in Wisconsin is expected to be down six-tenths of a percent for 2008 and 2.2-percent in 2009. He does expect the job market to pick back up towards the end of 2009, with a fairly solid recovery underway by 2010.

Koskinen says the one bright spot is the housing market in Wisconsin. While it has taken a hit, he says we're doing much better than many other states that have experienced double digit declines in home sales and new construction.

Personal salary and wage growth are also expected to stall in 2009. 

AUDIO: Andrew Beckett reports (MP3 1:13)

Share this:

  • Facebook
  • Twitter

Filed Under: Politics / Govt



Featured Stories

Wisconsin politicians react as SCOTUS overturns Roe v. Wade

Republicans gavel in and out of special session to overturn Wisconsin’s abortion law

Juneteenth flag raised at Wisconsin Capitol

Gableman invokes 5th amendment, elections probe found in contempt in open records case

House passed gun purchase background check bills last year with no support from Wisconsin Republicans

TwitterFacebook

Sports Headlines

Giannis breaks franchise scoring record, Bucks beat Nets in OT

Wisconsin’s Davis declares for NBA Draft

Badgers to face Arizona State in Las Vegas Bowl

Williams likely out for the season with broken hand

Packers releasing TE Jace Sternberger

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2022 · Learfield News & Ag, LLC