Wisconsin Lagging Regarding Recovery from the Recession
Friday, August 8th, 2014 -- 8:15 AM
-New federal data confirms Wisconsin is lagging behind its neighbors when it comes to recovery from the recession.The U.S. Department of Commerce released its first state-by-state breakdown of consumer spending on Thursday. It shows Wisconsin consumers spent about $34,700 per person in 2012, a 2.5 percent increase from the year before.
While consumers in some Great Lakes states spent less, their spending increased at faster rates.
UW-Madison economist Steven Durlauf says the data are no surprise and confirm what unemployment and other figures have already shown -- Wisconsin is recovering slower than its neighbors. Durlauf says state employment and spending cuts under Gov. Scott Walker have reduced overall demand for goods and failed to stimulate the economy.
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