While the COVID-19 pandemic has not come to an end, a monthly economic impact survey conducted by the University of Wisconsin-Oshkosh’s Center for Customized Research and Services is sharing its final results.
During the 17-month survey, research showed an average income loss of more than $150,000 reported by 138 businesses that completed the full study.
New North President Barb LaMue said the research project — a partnership between UW-Oshkosh, the state’s nine regional development organizations and the Wisconsin Economic Development Corp. — helped determine the types of resources businesses required to navigate the pandemic.
As part of the survey, CCRS collected feedback from 3,500 Wisconsin state business leaders, says CCRS Director Jeff Sachse.
“We are proud of the work we have done over the past year and a half and look forward to continuing our work analyzing the state’s economy through a new project that will be launching over the next several months,” he said.
Two hundred and eight businesses employing more than 8,600 workers replied to the August survey. Sachse says the firms reported $1.5 million in wage and productivity gains, which shows companies are increasing their wages as they compete for workers.
Responding businesses did report the following losses: $2.4 million in inventory, suggesting continued parts and supply shortages, and $1.5 million in income, reversing the summer’s trend of modest growth and reflecting growing concerns about the Delta variant.
The full study is available here.
