DOR: Economic recovery is beginning

According to the latest Wisconsin Economic Outlook report from the state’s Department of Revenue, economic recovery has begun with declining unemployment rates for May.

The report indicated that while the COVID-19 pandemic severely disrupted economies around the world, the worst unemployment rates may have already been recorded in April for the state.

Wisconsin employment bottomed in April but showed a recovery of 75,000 jobs in May and the state can expect to recover close to 25% of the jobs lost by the third quarter of 2020.