Coronavirus could give state economy a wallop

While illness is muted here so far, Wisconsin might be more vulnerable than some states to impact on business

Although the risk in Wisconsin for contracting COVID-19 still remains low, with two confirmed cases as of late Monday, the economic fallout from the global pandemic could hit the state more severely than some other parts of the country.

That is an early and still very preliminary assessment from a University of Wisconsin-Madison economist who examines international trade and finance as well as macroeconomic policy.

“Too much is unknown to prognosticate,” warned Menzie Chinn of the UW-Madison’s Robert M. LaFollette School of Public Affairs, responding to an inquiry from the Wisconsin Examiner about the financial impact on the state of the coronavirus outbreak that has been spreading around the world.

Nevertheless, said Chinn, “Since Wisconsin is highly trade-dependent both for inputs and sales, (relative to the rest of U.S.), I expect [it] to be hit harder than other states.”...

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Ken Notes: None of the COVID-19 news is good but I hope Wisconsin will be front and center on the solutions side of the equation. Also I would like to suggest that unlike the last recession, this time we bend not break. Instead of laying off 10 or 20% of your workforce, ask everyone to take a cut from the CEO down. Be safe but do not panic or over react. Make sure ill employees stay home. Make sure everyone can afford to seek adequate care and testing. Share what is happening at your company with your employees and ask for patience and their support.

Imagine how successful your company will be if after this passes regardless of how long it takes. You and your employees can be Wisconsin Strong...

- - Volume: 8 - WEEK: 11 Date: 3/12/2020 11:08:15 AM -