We have defended the Great Recession with tools such as Quantitative Easing I & II. We have paid the dues of previous mistakes but some effects of the housing crisis, debt crisis, and federal bailouts still linger.
On a national front, our nation hit its credit limit. We are at the debt ceiling and negotiations go on to lift the bar. GDP in the first quarter was a modest 1.9%. The pace of inflation, although relatively mild, still rose 3.6% over the past 12 months; most notably due to the more volatile aspects of inflation. The unemployment rate continues to hover above 9% as companies are resisting to expand their workforce.
With all the malaise we are experiencing on a global front, how do we fare locally in Wisconsin, Dane County, and Madison?
In honor of the Capital Business Journal, which has been bringing us regional economic and business news for the last seven years, submitting their last issue; here are some Capital Region Indicators from their final issue. Thank you Capital Business Journal:
Unemployment Rates (End of April Numbers):
- United States 8.7%
- Wisconsin 7.4%
- Madison 5.2%
Per Capita Income
- United States $40,166
- Wisconsin $37,770
- Dane County $39,636
Median Household Income
- United States $51,369
- Wisconsin $51,257
- Dane County $59,826
Thank you to the Capital Region Business Journal and please check out their soon to come business data center, you can find information on it at http://host.madison.com/wsj/business/b2b/. Please note, information from other resources were used – including the U.S. census as well as the City of Madison Business Resource website.
This post will be followed up with our economic report and mid-year forecast. How do you anticipate the economy faring for the remainder of 2011?