MADISON, Wis. (AP) — A new economic forecast predicts Wisconsin will begin adding jobs this spring but employment won’t reach pre-recession levels until the end of 2012.
According to a Department of Revenue report, even though jobs will be added this year, total employment will still be down 0.7 percent compared with 2009. The recession that started in December 2005 has cost Wisconsin nearly 164,000 jobs through November.
The state unemployment rate is projected to peak at 10.4 percent during the first three months of the year. The seasonally unadjusted rate stood at 8.7 percent in December.
The report shows that personal income declined in each of the first three quarters of 2009 compared with the previous year. It predicts that personal income will grow 3.3 percent this year.