Surveys of state businesses show fewer layoffs, closures than anticipated.
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Amber Krueger, a driver for Kona Ice, wears a mask as she serves frozen treats to customers Tuesday, July 21, 2020, in Janesville, Wis. Angela Major/WPR
One year ago, most Wisconsin business owners who responded to economic data surveys said they expected to lay off a significant share of their workers. And many said they didn’t know if their businesses would still exist in a year.
Today, the picture is starkly different. While some businesses did close, and unemployment initially spiked in 2020 before coming down significantly, the long-term impact appears to have been much less stark than many predicted during the early pandemic.