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Most business owners in Wisconsin are expected to go bankrupt next year.
A Wisconsin employer survey of 216 employers across the state said business owners’ optimism about the economy had waned since January. Nearly two-thirds of employers say inflation has increased by more than 10 percent.
According to the latest data, 44 percent of respondents say the state’s economy is strong. According to a WMC study in January, this was down 58 percent.
Over the past year, the prospects for the state’s economy have grown significantly. This summer, 45 percent of employers say they expect the Wisconsin economy to grow. This is down from 65 percent in January and 84 percent in the summer of 2021.
Wisconsin manufacturers and trade spokeswoman Nick Novak said 71 percent of business owners expect economic downturn in the next 12 months.
“Four out of 10 businesses expect to be by the end of 2022,” says Novak.
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Although frustrating, employers still hire them. According to Novak, 85 percent of respondents are struggling to find enough workers, and 46 percent of businesses plan to raise wages by 4 percent or more next year.
“Wisconsin businesses will be more cautious in the next six months and one year,” Novak said. I think they will continue to hire and hire as they please. But we see hiring a little slower, at least by the end of 2022, and further declining in 2023, Wisconsin employers said. Scan. “
Mark Douglas Fischer, supply chain management manager at the University of Markets, said prices were rising due to the impact of the CVD-19 epidemic on supply chains.
Fisher said: “We all had little hope that this would decrease, as long as our demand was beyond our control, at least in the supply chain.” “So here we are trying to slow down the economy with federal measures on interest rates.”
On June 15, the Federal Reserve announced the largest interest rate in a 28-year increase. Federation officials estimate that the US economy will grow by only 1.7 percent this year, down from 2.8 percent projected in March.
Fisher said a short-term “soft economic downturn” would normalize consumer demand and provide relief from inflation. But he said a deep and long-term economic downturn could kill consumer demand and exacerbate unemployment.
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