Wisconsin ranks 33rd among states for personal income growth rate, reports WPR.
Growth in Wisconsin incomes has lagged the national average since the Great Recession, putting the state in the bottom third among the 50 states, reports WPR based on the finding of new report on personal incomes from the Pew Charitable Trusts.
In the report, Wisconsin ranked 33rd in the nation in income growth from 2007 to 2018.
Based on data from the U.S. Bureau of Labor Statistics, the report looks at total personal income, adjusted for inflation.
It includes workers’ wages and benefits, but also accounts for income Wisconsinites made from owning a business or property, plus all income Wisconsinites received from Social Security or other government payments.
The overall finding, reports WPR: Wisconsin’s growth since the Great Recession has been tepid.
Wisconsin’s economic performance “is somewhere in the middle,” said Joanna Biernacka-Lievestro, a co-author of the report. “Its economy is neither the strongest nor the weakest among its neighbors.”
Charles Franklin, a professor of law and public policy, who is also director of the Marquette Law School Poll, said Wisconsin’s economy has been consistently in the lower middle.
“…in population growth, we’re in the 30s. In gross domestic product growth, we’re in the 30s. In income growth, we’re in the 30s. And that’s a very common pattern,” he said.