Wisconsin Employment and GDP: Actual and Outlook

The Wisconsin Department of Revenue released its February Economic Outlook on Monday.

Figure 1: Wisconsin nonfarm payroll employment from January release (black), forecast from February 2022 Economic Outlook (released in March) (gray +), private nonfarm payroll (teal), forecast (teal +), all in 000’s, seasonally adjusted. Source: BLS, Wisconsin Department of Revenue, and author’s calculations.

 

Figure 2: Wisconsin GDP (black), forecast from February 2022 Economic Outlook, interpolated (released in March) (purple), forecast using first differences of US log GDP (teal), all in bn CH.2012$, SAAR. Source: BEA, Wisconsin Department of Revenue, and author’s calculations.