An Uncertain Year Ahead As we bid adieu to 2022, our thoughts turn to the upcoming year. We at the CBEI hope that the contents of this publication can help shed light on some of the challenges and opportunities for the uncertain year ahead. In The U.S. Economy and Inflation in 2023 , Chief Analyst Kevin Bahr describes the multiple domestic and global sources behind the stubborn increases in the inflation rate and the likely impacts of recent Federal Reserve interest rate hikes on the economy in 2023. I am excited to announce the addition of new economic statistics to our Economic Indicators section of the report. These new economic measurements will provide a deeper understanding of inflationary and employment trends for the national economy. I want to thank Kyle Pulvermacher, our newest CBEI research assistant, for his creative contributions and help in co-authoring the report. Over the past two terms, the Supreme Court has heard arguments and issued rulings in a series of controversial blockbuster cases. The current term, which began in October, is no different; however, the cases which generate the biggest buzz often drown out discussion on lesser known but equally important controversies. In The U.S. Supreme Court: Under the Radar , Professor of Business Law Caz McChrystal addresses several cases currently under review or about to be argued before the Supreme Court involving states’ ability to regulate business, the due process rights of businesses, and the regulation of speech on the internet. These cases, that often fly under the radar of casual Court watchers could greatly affect the business climate in the United States and in North Central Wisconsin This issue’s Insight Spotlight column, Do More Together: Strategic Doing for Stronger Communities by student Adam Klawitter ’23 and UWSP Professor Elizabeth Martin describe the critical role “strategic doing” can play in supporting community development initiatives.
Table of Contents
T he U.S. Economy and Inflation in 2023 .................................... 1-10 Kevin M. Bahr Economic Indicators ..................................................................11-17 Scott Wallace and Kyle Pulvermacher National Economic Statistics ................................................... 11-13 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 .................................................................. 16 Table 6: Labor Market Indicators from LAUS Table 7: WI Employment by Major Industry Sector County Economic Statistics . .....................................................17-19 Table 8: Help Wanted Advertising Table 9: Unemployment Claims Table 10: County Sales Tax Distribution Housing and Construction ........................................................ 18-19 Table 11: National Affordability Index Table 12: Median Home Prices and Home Sales
Table 13: Residential Construction Table 14: Nonresidential Construction
Business Sentiment ........................................................................ 19 Table 15: Business Confidence Survey: Central Wisconsin Area Special Report ........................................................................... 20-25 The U.S. Supreme Court: Under the Radar Caz McChrystal Column: Insight Spotlight ......................................................... 26-27 Do More Together: Strategic Doing for Stronger Communities Elizabeth Martin and Adam Klawitter Notes ................................................................................................ 28 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 Alexis Flaten..........................Senior Research Assistant, CBEI Kyle Pulvermacher........................... 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 School of Business and Economics.
The UW-Stevens Point 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.
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