The latest Wisconsin Employer Survey by Wisconsin Manufacturers & Commerce (WMC) shows that the percentage of businesses struggling to find workers has hit a decade-low. WMC, which serves as both the state’s manufacturers’ association and chamber of commerce, represents companies of all sizes across various sectors.
According to the semiannual CEO survey, only 63 percent of businesses reported difficulty in hiring workers, a decrease from 72 percent the previous year and 68 percent in the summer. The last time the figure was this low was during the winter of 2015, with 63.9 percent of respondents reporting hiring challenges.
“The most probable explanation is because the demand for workers has slowed,” commented Kurt Bauer, WMC President/CEO.
Despite the improvement in hiring, labor shortages remain a significant issue, matching health care costs as the primary public policy concern for Wisconsin businesses. Health care costs were frequently mentioned in the survey, with 41 percent of respondents suggesting that the state government should focus on making health care more affordable, an increase from 30 percent in the summer.
The survey also reflected a cautious optimism regarding the economy. Only 26 percent of participants rated the Wisconsin economy as strong, up from 22 percent a year earlier, with 68 percent describing it as moderate and 6 percent as weak. For the national economy, 18 percent rated it as strong, which was an increase from 10 percent the previous year, with 61 percent viewing it as moderate and 19 percent as weak.
Profitability among businesses was notably positive; 85 percent reported profits in the last six months of 2024, and 96 percent anticipate profitability in the first half of 2025.
Looking forward, 63 percent of respondents predict growth for the Wisconsin economy in the first half of 2025, while 34 percent expect it to stay flat. Nationally, 75 percent foresee growth, with 21 percent anticipating no change.
“Clearly, business leaders are more optimistic entering 2025 than they were a year ago, despite the reduced demand for workers,” Bauer said.
The Wisconsin Employer Survey is conducted twice a year by WMC. The assessment provides a snapshot of where Wisconsin’s employers stand on a number of important issues and outlines their economic outlook for both Wisconsin and the U.S. For the Winter 2025 edition, WMC surveyed 153 employers that make up a representative sample of its membership. Businesses of all sizes, industries and geographic locations in Wisconsin participated.
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