Some data, as President Biden visits (CNN):

Macro indicators:

Figure 1: Wisconsin Nonfarm Payroll Employment (dark blue), Philadelphia Fed early benchmark measure of NFP (pink), Civilian Employment (tan), real wages and salaries linearly interpolated, deflated by national chained CPI (sky blue), GDP (red), coincident index (green), all in logs 2021M11=0. Source: BLS, BEA, Philadelphia Fed [1][2], and author’s calculations.

Most indicators are moving upwards as of latest available data. Civilian employment is the only one trending sideways; however, this divergence has also occurred at the national level, and is likely mostly attributable to underestimates of the population.

The unemployment rate in Wisconsin is about 0.8 ppts below that nationwide.

Figure 2: Unemployment rate in Wisconsin (blue), in US (black), both in %. Source: BLS.

This is about the same percentage point difference that one finds on average, so one could infer that Wisconsin is about doing the same, cyclically speaking,

Keep reading this article on Econbrowser Blog - James Hamilton & Menzie Chinn.

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