Wisconsin unemployment rate at 3.3%, aging workforce challenges loom large
Wisconsin’s unemployment rate continues to track below national trends as the economy recovers from workforce shortage challenges exacerbated by the COVID-19 pandemic.
A September report from the Wisconsin Counties Association’s nonpartisan research arm Forward Analytics detailed how migration trends in the state — which show more working-age people moving out of the state rather than in — underscored Wisconsin’s need to attract and retain more out-of-state talent in order to address ongoing workforce challenges.
A recent study by the Center on Budget and Policy found that of all 50 states, Wisconsin allocated the largest portion of federal American Rescue Plan Act funds to economic development measures.
“These investments are good for the whole community because when one new business opens, it’s a chance for other local businesses to benefit from increased foot traffic and supply chain relationships,” said Melissa Hughes, secretary and CEO of the Wisconsin Economic Development Corp. “It’s really a win for everyone.”
[Adapted from: Wisconsin unemployment rate at 3.3%, aging workforce challenges loom large November 26, 2022 Wisconsin State Journal]
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