On this blog, I occasionally post on Wisconsin macro aggregates. For a small assessment of Wisconsin’s labor market and domestic welfare, I turn to the reports of the High Road Strategy Center. From the 2024 report, here are four important graphs.
From the document:
Labor Market Hits Record High in June 2024: Wisconsin Adds More than 25,000 in Year
In June 2024, the state set a new record high for jobs: 3,048,000. From July 2023 to July 2024,
Wisconsin added 25,700 jobs.
Wages Up: Wisconsin’s Highest One-Year Wage Increase in History
Beginning in 2022-23, the inflation-adjusted hourly wage increased by 97 cents. Since 1979
(the first year reliable government wage data is available), the inflation-adjusted median wage has increased only twice: in 2019 and 2023.
Measuring Wage Growth: Low-Wage Workers Earn More
In a reversal of trends for much of the past four decades, low-wage workers in Wisconsin
had stronger wage growth than the highest paid workers. The gap has been closing in on
recovery from the pandemic and continued this year.
Wisconsin Union Declines Deeply in State, Despite Unions’ Popularity
Public opinion of unions improved significantly from 2011-23, but still, Wisconsin’s
the union rate dropped by a third (from 14 percent to 8.4 percent) over the same period. This
the decline exceeds the disunity rate of all neighboring states.
Wisconsin’s Working Women: Gender Pay Inequality Leaves Women Behind
In 2023, the average salary for women was $22.03 and the average for men was $25.09. On average, women earn 88 cents for every dollar a man earns. This is the gender wage gap in Wisconsin. It’s less than in 1979 but still significant, especially for black and Hispanic women in the state.
For more discussion, see Executive Director Laura Dresser on WIsconsin PBS (8/30).
For the latest on Wisconsin macro aggregates, see here. For more on economics versus “vibecession”, see my colleague J. Michael Collins on WIsconsin PBS (8/30).
Source link