![]() ![]() New analysis done as part of the Milwaukee Area Project at Marquette University Law School’s Lubar Center shows an economy on the mend, but not yet fully recovered from the pandemic’s fallout. More: Milwaukee businesses held on better than expected during pandemic, but the 'new normal' remains a challenge Has the economy fully recovered, or have we settled into a kind of new normal? More specifically, how is the economy of the state’s largest city and most populous county, Milwaukee, faring more than two years after the start of the pandemic? With two-thirds of the metropolitan area’s approximately 1.5 million residents living in Milwaukee County, its performance remains central to the region’s economic vitality. ![]() Milwaukee is on the mend, but with a ways to go While the virus remains a concern, the greatest challenges facing most businesses right now are workforce shortages and inflation. A torrent of state and federal aid - WEDC alone gave grants of $600 million to small businesses - combined with the grit and creativity of owners and workers averted an economic catastrophe. In a recent interview with us, Hughes cited several encouraging signs, including a 42% increase in new businesses formed during the pandemic. Today, it appears that worst-case scenario didn’t materialize. “We’re potentially looking at losing 20 to 30 percent of these small businesses,” she warned during a virtual event with Marquette University Law School in March of 2021. Even as vaccines were becoming widely available in the spring of last year, Wisconsin Economic Development Corp. Secretary Missy Hughes worried about the fate of the state’s many small businesses, especially those with fewer than 20 employees. In the darkest days of the coronavirus pandemic, uncertainty ruled the day for Wisconsin businesses and workers. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |