Department of Revenue Forecasts Moderate Growth
Sunday, July 21st, 2013 -- 10:37 AM
-The Wisconsin Department of Revenue is forecasting that the state's economy will grow at a moderate pace this year, with 31,000 jobs added by the end of the year.The Revenue Department released its latest economic outlook Friday. It predicts statewide unemployment will be 6.9 percent this year and then drop to 6.5 percent next year. The rate was 6.8 percent in June. It has steadily declined since peaking at 9.2 percent in mid-2009.
The report also predicts that personal income will grow 1.9 percent this year, with stronger growth of 4.6 percent in 2014.
The report also says the housing market is showing signs of a recovery both at the state and national levels. Moderate growth is predicted in Wisconsin the remainder of this year.
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