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Wisconsin IDEA Insight • Data • Economics • Analysis
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Housing Market Shortage Problem for WisconsinStrong Growth Coupled with Housing Shortages May Signal Start of Another Housing Bubble
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One way to track the housing market in Wisconsin is to follow trends in house selling prices. The Federal Housing Finance Agency (FHFA) collects house transactions data (including multifamily units such as condos) which they then use to calculate the All-Transactions House Price Index which is available at the state and major metropolitan areas back to 1975. More recently, the FHFA has calculated the index for all counties in the U.S.
Based on this data for Wisconsin and a geographic representation of metropolitan areas across Wisconsin, several patterns can be observed. First, evidence of the “housing bubble” of the mid-2000s is clear, coupled with the collapse of the marker and the slow recovery. Also evident are differences across Wisconsin as to the severity of the bubble itself, post-bust decline, and slow recovery.
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Econ Quiz: Wisconsin Employment
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Job openings in Wisconsin peaked in July 2021 with more than 230,000 jobs in need of workers. Although the pandemic and the Great Resignation may have intensified the trend, the number of job openings in Wisconsin has been trending upward since at least early 2015. The high number of job openings leads many to speculate that large numbers of our fellow Badgers are sitting on the sidelines. While participation rates have fallen somewhat among several age groups over the past several decades, Wisconsin’s current participation rate is slightly above where it was in February 2020 and Wisconsin consistently has higher labor force participation rates than the nation as a whole.
Badgers work hard, and it shows. The years between age 25 and 54 are considered prime working years. In total, 91.1% of Wisconsin men and 81.6% of Wisconsin women aged 25 to 54 are in the workforce, as compared to 87.9% of all U.S. men and 75.1% of all U.S. women in the same age group. The same high participation rates are seen in our state’s young adults, with 74.7% of Wisconsinites ages 20 to 24 in the workforce as compared to 69.3% of the nation’s adults of the same age. Even our teenagers are more likely to work than the nation’s teenagers. Roughly 52% of kids ages 16 to 19 in Wisconsin are in the workforce, as compared to 34.5% of all U.S. teenagers of the same age. An abundance of available jobs relative to people in the labor force has helped push the unemployment rate down to 3.9% nationally and 2.8% within the state. In comparison, the U.S. unemployment rate between December 1948 and January 2022 averaged 5.78%.
Wisconsin has 72 counties. All but five counties had unemployment rates below the national average of 3.9% in December 2021. How many Wisconsin counties had a very low unemployment rate below 3.0% in December 2021? For extra credit, how many have an extremely low unemployment rate below 2.0% in December 2021?
A. 12 B. 63 C. 30 D. 70 E. 42
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Creative Economy Summit
Thursday, April 21, 1:00 pm - 4:00 pm (CST)
Creativity. Innovation. Imagination. Entrepreneurship. As the post-pandemic world takes shape, the arts, culture, and creativity are not separate from the overall priorities of the state. They are vital to the well-being and future of Wisconsin, its people, and its communities.
In partnership with Create Wisconsin (formerly Arts Wisconsin), we are pleased to host the virtual Creative Economy Summit. This event will focus on the work needed to incubate and support talent, increase creative work incubation, lead to business creation and retention, engage all Wisconsinites in creative opportunities, and provide the public and private leadership necessary to invest in a sustainable 21st-century economy. The Summit will feature ideas, information, research, resources, and case studies of 21st-century creative investment, businesses, infrastructure, and partnerships throughout the state.
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Early Care and Education in Wisconsin: Challenges and Opportunities
Monday, April 11, 12:00 pm - 1:00 pm (CST)
Join us for a virtual webinar as we discuss trends in licensed child care in Wisconsin. Our presenter, Dr. Alejandra Ros Pilarz, will discuss 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 will describe the current state of the early care and education workforce, as well as challenges and opportunities for supporting the workforce and strengthening the early care and education (ECE) systems in the state.
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Supporting Wisconsin's Small Business, Entrepreneurs
Extension programming, connections, and research serve as a crucial resource for local communities that are examining ways to strengthen local businesses and support entrepreneurship. Last year, Extension educators, specialists, and program managers supported and delivered educational programming in 63 counties in Wisconsin. We provided research and data support to increase the quantity and quality of entrepreneurial activity and to foster more high-growth companies. Educational programming and research covered a broad array of business sectors such as childcare, food, lodging, pharmacy, retail, and tourism. Educators and specialists completed over 100 discrete business-support-related activities resulting in hundreds of local partnerships, thousands of hours working with businesses and partner organizations, and reaching over 12,000 participants.
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(Capital Times - 2/15/2022)
(Wisconsin Public Radio - 2/15/2022)
(Capital Times - 1/26/2022)
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Equal Employment Opportunity & Affirmative Action Statements An EEO/AA employer, the University of Wisconsin-Madison Division of Extension provides equal opportunities in employment and programming, including Title VI, Title IX, the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act requirements. Please make requests for reasonable accommodations to ensure equal access to our educational programs as early as possible preceding the scheduled program, service, or activity.
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