WisBusiness: Wisconsin’s neighbors faring better during economic ... - Wisbusiness.com

10.01.09

WisBusiness: Wisconsin’s neighbors faring better during economic downturn
1/9/2009

By Tracy Will
For WisBusiness.com

With the U.S. Federal Reserve Bank’s concern about an extended recession reported this week and a $5.4 billion deficit looming over Wisconsin, news reports and economic forecasts from the regional Federal Reserve branches in Chicago and Minneapolis suggest some of Wisconsin’s Midwestern neighbors are poised to weather this downturn better than Wisconsin.

Read below for a round-up of the economic conditions facing Wisconsin's Midwestern neighbors: In Illinois, its most pessimistic state economists see a $1.3 billion shortfall in tax revenues, and official state projections foresee tax collections lagging by $550 million. This compares favorably to Wisconsin’s projected $5.4 billion shortfall.

While Gov. Rod Blagojevich still has his job, Illinois unemployment increased from 7.1 percent in October to above 7.3 percent by 2009.

Source: Wisbusiness.com, WI

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