State’s economic forecast says recovery has slowed

Peak 2008 employment levels projected by 2015
State’s economic forecast says recovery has slowed

The latest economic outlook from the Wisconsin Revenue Department said the economy continues to recover but the pace has slowed in recent months.

The forecast released Wednesday said employment in the state is projected to increase 1 percent in 2012 and 1.7 percent in 2013. The state is projected to return to its peak 2008 employment levels of 2.9 million by early 2015. Nationally, all the jobs lost during the recession are projected to be filled by the third quarter of 2014.

The report says Wisconsin’s unemployment rate should be 6.5 percent this year and drop to 6.1 percent in 2013. It’s projected to drop to 4.7 percent by 2015.

Wisconsin personal income is projected to grow 2.9 percent in 2012 and 4.1 percent in 2013.