Is it Spring Yet? As I look out of the window on the last day of April, a wintry of mix of precipitation is falling over the Central Wisconsin countryside. This reminds me of a meme of a Wisconsinite mowing a snow-covered lawn. Hopefully by the time you read this, spring will have truly arrived and we can confidently stow away our snowblowers until October! In Economic Update – Spring 2023 , Chief Analyst Kevin Bahr draws upon a variety of economic data sources in creating a mosaic-like account of our current economic conditions. The economy is an enormously complex and constantly evolving system and Kevin tells a compelling story about its strengths and weaknesses. Our Economic Indicators section of the report has a variety of timely national, state and local statistics covering labor markets, housing, prices, construction, area business confidence and more. In this issue’s special report, Remembering the Future: Every Leader Can Practice Foresight , Assistant Professor of Management Lyna Matesi shares her research about how to concretely engage others in your understanding of the best future. The stories you tell can activate those around you to first rehearse and then remember and enact the future you’ve envisioned. This issue’s Insight Spotlight column, A Brief Review of All the Fuss About AI , features Greg Koepel, associate lecturer of business, providing a compelling introduction to both the capabilities and challenges associated with artificial intelligence. I am excited to announce a new column to our publication, Student Scholar Showcase. In this column, we will feature work from Sentry School of Business and Economics’ best student researchers. For our inaugural edition, Kyle Pulvermacher, senior research assistant for CBEI, presents The Effect of Education on Income Inequality in Wisconsin which uses cross-sectional data from each of Wisconsin’s 72 counties in exploring the effect of postsecondary education on income inequality. Kyle presented his research at the Research in the Rotunda event at the Wisconsin State Capitol on March 8.
Table of Contents Economic Update Spring 2023...................................................1-12 Kevin M. Bahr Economic Indicators.................................................................13-21 Scott Wallace and Kyle Pulvermacher National Economic Statistics....................................................13-17 Table 1: Key Economic Indicators Table 2: Changes in Price Levels Table 3: National Employment Indicators Table 4: Contributions to Percent Change in Real Gross Domestic Product Table 5: Lifecycle of the Expansion Labor Market Statistics..................................................................18 Table 6: Labor Market Indicators from LAUS Table 7: WI Employment by Major Industry Sector County Economic Statistics...........................................................19 Table 8: Help Wanted Advertising Table 9: Unemployment Claims Table 10: County Sales Tax Distribution Housing and Construction........................................................ 20-21 Table 11: National Affordability Index Table 12: Median Home Prices and Home Sales
Table 13: Residential Construction Table 14: Nonresidential Construction
Business Sentiment........................................................................21 Table 15: Business Confidence Survey: Central Wisconsin Area Special Report.......................................................................... 22--27 Remembering the Future: Every Leader Can Practice Foresight Lyna Matesi Column: Insight Spotlight......................................................... 28-29 A Brief Review of All the Fuss About AI Greg Koepel Column: Student Scholar Showcase........................................ 30-31 The Effect of Education on Income Inequality in Wisconsin Kyle Pulvermacher Women Trailblazers and Entrepreneurs Conference....................32 MBA Program........................................................Inside Back Cover
CBEI Mission
CBEI Staff
The UW-Stevens Point Center for Business and Economic Insight (CBEI) promotes regional economic and community development through the provision of business and economic knowledge to local business, governmental, and community leaders. The primary areas of focus are Portage, Marathon and Wood counties.
Scott Wallace....................................Director and Editor, CBEI Kevin Bahr...................................................Chief Analyst, CBEI Kyle Pulvermacher................Senior Research Assistant, CBEI Eva Donohoo...................................Publication Designer, CPS
The Center for Business and Economic Insight is made possible thanks to support from the UW-Stevens Point Sentry School of Business and Economics.
The UW-Stevens Point Sentry School of Business and Economics creates career-ready graduates and leaders through applied learning. We serve the businesses, economy and people of the greater Central Wisconsin region. We specialize in preparing students for success by providing professional development experiences, access to employers, and in-demand skills.
Made with FlippingBook Learn more on our blog