MADISON – The Wisconsin Department of Workforce Development released new data on Thursday showing the state’s unemployment rate jumped to 14.1 in the month of April – a huge spike from just 3.1 percent in March. Additionally, the Center for Research on the Wisconsin Economy at UW-Madison estimates the current unemployment rate is 21.9 percent.
In response, Wisconsin Manufacturers & Commerce (WMC) President & CEO Kurt Bauer released the following statement:
“WMC has said the economic crisis caused by a prolonged shutdown of our economy would likely be a much greater threat to the state than the virus itself. While the COVID-19 virus has only infected a small percentage of the population, everyone in Wisconsin will see and feel the consequences of depression-level losses of businesses, jobs, wages, benefits and economic activity.
“Now is the time to return to the policies that delivered the strongest economy, lowest unemployment and largest budget reserves in Wisconsin history. Wisconsin must reduce taxes, cut job-strangling red tape, and enact liability reforms that protect employers from costly and frivolous lawsuits.”