Report: Wisconsin wages reach record high, but job growth stalls

Median wages have hit a record high in Wisconsin, but job growth has stalled and the state's Black unemployment rate is rising. Those are the main findings from 'The State of Working Wisconsin 2026,' a new report on the state's job market. The annual report is released by the High Road Strategy Center, a left-leaning 'think-and-do tank' at the University of Wisconsin-Madison. The report found that after hitting a record high number of jobs — 3,051,000 — in November 2024, the state had just 3,042,900 jobs in July 2026. 'Job growth has ground to a halt, and though wages hit a new high in 2025, high inflation is undermining workers' wages in 2026,' said Laura Dresser, author of the report and the associate director of the High Road Strategy Center. 'The (report) still shows some very bright spots, but the clouds are gathering on the economic horizon.' Dresser told WPR the report's findings showed a 'mixed picture.' 'There's some really great news still in this economy,' she said. 'We've had a strong recovery from the pandemic lockdowns, it's been sustained and we show again that we got a new high in median wages in 2025.' Last year's report found that the economy was softening, and Dresser said some of those trends have continued. Report sees higher unemployment ahead The state's unemployment rate is at 3.3%. That is low but 'drifting upward' compared to the 2.6% unemployment rate in 2023, the report found. 'With the state losing jobs, it is likely that the rate will continue to rise,' the report said. And the state has been losing jobs since 2025. 'Wisconsin's economy has grown slowly relative to the national economy for years, and now job growth has ground to a halt,' the report said. It also found that Wisconsin's economy 'is riddled with inequalities by geography, race, education and gender.' The report said the unemployment rate for Black Wisconsinites is, 'growing much more rapidly than unemployment for other groups.'