Wisconsin Personal Income Growth among Slowest in the Country in 2020

Wisconsin residents saw some of the slowest personal income growth of any state in the country in 2020, according to data released Wednesday by the U.S. Bureau of Economic Analysis.

State personal income increased 4.4% from 2019 in Wisconsin, which ranks 46th in the country. On a per capita basis, Wisconsin personal income increased 4.3%, which ranks 42nd in the country. Per capita personal income in Wisconsin last year was $55,487 compared to $59,729 nationally. Nationally, personal income was up 6.1% and 5.8% on a per capita basis.

Total wages and salaries paid in Wisconsin last year dropped 0.5%, which ranks 32nd in the country. Nationally, wages and salaries increased 0.2%, led by more than 5% increased in Idaho and Utah.

Wisconsin’s manufacturing sector was particularly hard hit when it came to wages with a $993 million or 3.4% decline. A drop of nearly $1.1 billion in durable goods manufacturing wages was only partially offset by a $104 million gain in nondurable goods.

The decline in manufacturing wages in Wisconsin ranks 31st in the country while the durable goods manufacturing wage decline ranked 34th. Nationally, manufacturing wages were down 2.6% and wages in the durable goods sector were off 4.3%

Accommodation and food service was hit hard too in Wisconsin with wages down $577 million or 12.3%. Arts, entertainment and recreation wages in the state declined 13.4% or nearly $204 million.

On the positive side, the construction sector in Wisconsin saw a $380 million or 4.6% increase in wages and salaries last year. Finance and insurance wages in the state were up 3.5% or nearly $371 million. Wages in the information sector of Wisconsin were up 5% or nearly $200 million.