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Experts: Madison Not Recession Proof, But In Good Position
Dean Says Government, UW Jobs Are Cyclical
UPDATED: 1:38 pm CDT May 6,
2008
MADISON, Wis. -- Is the Madison area recession proof?
VIDEO: Watch The ReportSome local residents argue that Madison's diverse economy -- with both the state Capitol and the University of Wisconsin -- make the area recession proof, but many recent layoffs throughout the area have some people questioning that, WISC-TV reported."I can't tell individuals, folks anything without knowing their situation but I do think we're fortunate in Dane County to life in a fairly high-income area that has an economic core that is pretty stable. That is that all the government jobs and the university jobs aren't very cyclical," said UW School of Business Dean Michael Knetter.Knetter said no area is recession proof. He said that Madison knowledge base in the University Research Park and soon to be at the Institutes for Discovery will help absorb some of the blow if a recession does happen.Knetter said what worries him most is gas prices and the recent volatility in the market, which he said isn't a Madison issue, but rather a nationwide issue that needs political attention.
VIDEO: Watch The ReportSome local residents argue that Madison's diverse economy -- with both the state Capitol and the University of Wisconsin -- make the area recession proof, but many recent layoffs throughout the area have some people questioning that, WISC-TV reported."I can't tell individuals, folks anything without knowing their situation but I do think we're fortunate in Dane County to life in a fairly high-income area that has an economic core that is pretty stable. That is that all the government jobs and the university jobs aren't very cyclical," said UW School of Business Dean Michael Knetter.Knetter said no area is recession proof. He said that Madison knowledge base in the University Research Park and soon to be at the Institutes for Discovery will help absorb some of the blow if a recession does happen.Knetter said what worries him most is gas prices and the recent volatility in the market, which he said isn't a Madison issue, but rather a nationwide issue that needs political attention.Copyright 2008 by Channel 3000. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
