One long-held strategy to foster economic growth and development is to recapture tax dollars that flow to higher units of government. Paying taxes to higher units of government, such as the state and/or federal government, is a leakage from the local economy. In a sense, these leakages are akin to a local business buying inputs from vendors outside of the community or local residents shopping outside of the community. While many communities strike to close these leakages by encouraging firms and shoppers to buy locally, such an approach does not apply to state and federal taxes. Rather, communities often strive to have those dollars returned to the community through local state and federal government spending.
Summary April 2022 — Dr. Alejandra Ros Pilarz discusses the early care and education landscape in Wisconsin, how it has changed over the past 15 years, and the implications for children and families. She describes the current state of the early care and education workforce, as well as challenges and opportunities for supporting the workforce […]
Nonemployer establishments, sole proprietorships and partnerships without any paid employees, are an important part of the country’s economy. As of 2018, they made up a large and quickly growing share of businesses in the United States at 77% of the total while the other 23% of establishments were employer businesses [1]. Given that nonemployer establishments are businesses without employees, they are predominantly independent contractors who work for themselves or small businesses operated only by the owner(s) or unpaid members of their family.
Childcare was a challenge for parents before the pandemic and has only become more difficult in recent months. During the pandemic, as much as 60% of childcare providers closed and stopped providing childcare (Bipartisan Policy Center, 2020). While many of those closures were temporary, a recent state-level study estimates that, in absence of additional aid, 30% of the childcare supply in Wisconsin could be permanently lost if providers are closed for more than two weeks without revenue due to COVID-19.
The growth in student debt in the United States has become a cause for concern. At the beginning of 2006, student debt, or loans taken out to pursue higher educational opportunities, was approximately $481 billion. By the beginning of 2019, that amount has grown to nearly $1.6 trillion (Figure 1a). While student loan debt remains smaller than consumer credit debt ($4.1 trillion) or mortgage debt ($15.5 trillion), the rate of growth of student debt is alarming.
July 2019 — Patterns of uneven economic growth and development across the U.S. have been well established in the popular press and academic literature. Some states, such as Mississippi, Alabama and New Mexico, continue to experience higher rates of poverty, lower rates of worker productivity, and modest income growth. Other states, such as Arizona, Colorado […]
February 2019 — The relationship between the diversity of a regional economy and economic growth, stability, and resiliency has been at the center of a large academic literature for over 70 years. Drawing on the idea that a diversified portfolio of investments (e.g. stocks, bonds, etc.) can minimize risk and foster sustainable returns (growth) many […]
December 2018 — With unemployment rates at historical lows and many employers having difficulty finding workers to fill their open positions, policymakers and employers alike are looking for available labor. In Wisconsin, the labor force participation rate is already well above the national average. Given the age structure and historical trends identified by Kures, Deller, […]
EXECUTIVE SUMMARY November 2018 — If the vision for Wisconsin’s future economy is one of competitive wages, innovative industry, and an entrepreneurial culture, then there are challenges on the horizon. From the perspective of developing an educated labor force that supports both innovation and entrepreneurship, the metrics presented in this report are troubling. The education […]
EXECUTIVE SUMMARY August 2018 — The analysis presented in this report uses two types of comparisons to evaluate job creation and job loss in Wisconsin. First, we consider trends over time by comparing the most recent years available, 2012 or 2013 depending on the data source, with 2000 and 2009. The year 2000 is useful […]
July 2018 — As Wisconsin’s unemployment rate moves to record lows, many companies have expressed frustration that they cannot find the workers they need. Some employers, workforce development organizations and policy makers attribute the lack of suitable employees to issues surrounding labor quality. Specifically, potential workers may not have the specific skills desired by employees […]
March 2018 — In Wisconsin, the labor market has been the focus of recent public and political discourse, with many perceiving a labor shortage. Often these discussions focus on the experience voiced by employers throughout the state. While the frustration of employers trying to hire workers is an important sign that there could be a […]
