Report: Wisconsin wages, income should rebound in 2021
MADISON, Wis. — A new report from Gov. Tony Evers’ administration projects wages and personal income levels will rebound next year.
The state Department of Revenue released an analysis Tuesday that found Wisconsin lost 440,000 jobs in April alone, more than twice the number of jobs lost during the Great Recession.
Personal income will shrink 0.5% in 2020 but recoup that loss in 2021. Wages should decrease by 9% in the state but after bottoming out in the third quarter wages should post annual growth rates of 7% in 2021.
Aid from the federal coronavirus relief bill will contribute to the rebound.
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