Employment
Wisconsin’s employment fell by 1,200 in December.
Private employment increased by 3,300 while government employment fell by 4,500.
For the year, employment increased by 20,300. Some of the monthly noise is removed when we look over the past twelve months; from this view, private employment increased by 16,200 over the year and government added 4,100.
Monthly changes in Wisconsin include employment gains in professional & business services (+1,100), manufacturing (+1,000), information (+1,000) and leisure & hospitality (+1,000).
Jobs were lost in retail trade (-800) and financial activities (-600).
The 12-month change in Wisconsin employment is equivalent to a 0.7% increase in employment. U.S. employment increased at twice
that rate, at 1.4%.
The Wisconsin unemployment rate inched up to 3.0%, from 2.9% the prior month but down from 3.4%
Collections
Wisconsin tax revenues increased 5.2% during the first half of fiscal year 2025 (FY25), from $9.2 billion in FY24
to $9.7 billion.
Growth was led by an 8.4% increase in individual income taxes, which account for nearly half of state tax revenues.
Withholding revenues, the largest component of individual income taxes, have seen strong growth through the first half of the fiscal year, up 7.2%.
Sales tax revenue growth has slowed from past years as inflation has cooled. In the first six months of FY25, sales tax receipts are up 2.7%.
Corporate tax receipts have increased 3.8% so far in FY25. Meanwhile excise tax receipts have declined 5.6% on an 8.9% decline in cigarette tax receipts.
