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BREAKING NEWS - Wisconsin Among Best in the Nation in Economic Outlook
Not even two months ago, the media, Democrats, and liberals everywhere spoke with glee about Wisconsin being ranked 49th in six month economic forecast from the Philadelphia Federal Reserve bank.
But in the matter of just two months, the economic forecast for Wisconsin has taken a stunning trajectory up.
First, the April numbers (released at the end of May) that were the topic of headlines and press releases were revised upward to rank Wisconsin at 40th.
Then, the May numbers (released in June) saw Wisconsin jump to 20th.
And with new numbers out today for June, Wisconsin is now ranked 5th in new rankings among states on their six month economic outlook. For those keeping track, that's 40th, to 20th, to 5th in just a couple months.
And in another leading economic indicator, the coincidence index, Wisconsin ranks 2nd.
"We know that employers want stability and while we can't control all the factors affecting job creation, this ranking is another sign that the work we are doing is improving the business climate in the state," said Wisconsin Governor Scott Walker.
The coincident indexes combine four state-level indicators to summarize current economic conditions including "nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average)."
Ranked 5th and 2nd in leading economic indicators?
Perhaps the Wisconsin economy is finally kicking into gear. And the only ones with long faces will be the liberals in this state who have actively cheered against job creation in a cynical political ploy to win back the governorship. It's never a good political position to be in when you are forced to root against job creation.
As the Cap Times noted late Tuesday:
Those banking on Wisconsin’s economy tanking in hopes it might cost Gov. Scott Walker his re-election are not going to like the latest numbers from the Philly Fed.
Walker's office says this news is just the latest in a series of positive economic developments, which they outlined Tuesday:
•Wisconsin’s seasonally adjusted total nonfarm job gain from May to June shows an initial increase of 17,500, which is the largest month-to-month gain since April 1992.
•Wisconsin’s seasonally adjusted private job gain from May to June shows an initial increase of 13,800, which is the largest month-to-month gain since September 2003.
•CNBC ranked Wisconsin 5th in "Top US States for New Manufacturing Jobs" (June 25, 2013).
• 94 percent of Wisconsin job creators believe the state is "going in the right direction," up from just 10 percent in 2010 (WMC Survey, June 2013).
•Wisconsin’s initial unemployment insurance claims are at prerecession levels
•Year-to-date housing permits are 9.1% higher than prior year levels
•Wisconsin’s percent change in average weekly wage in the fourth quarter of 2012 was 12th in the nation; behind only Minnesota in the Midwest.
Not even two months ago, the media, Democrats, and liberals everywhere spoke with glee about Wisconsin being ranked 49th in six month economic forecast from the Philadelphia Federal Reserve bank.
But in the matter of just two months, the economic forecast for Wisconsin has taken a stunning trajectory up.
First, the April numbers (released at the end of May) that were the topic of headlines and press releases were revised upward to rank Wisconsin at 40th.
Then, the May numbers (released in June) saw Wisconsin jump to 20th.
And with new numbers out today for June, Wisconsin is now ranked 5th in new rankings among states on their six month economic outlook. For those keeping track, that's 40th, to 20th, to 5th in just a couple months.
And in another leading economic indicator, the coincidence index, Wisconsin ranks 2nd.
"We know that employers want stability and while we can't control all the factors affecting job creation, this ranking is another sign that the work we are doing is improving the business climate in the state," said Wisconsin Governor Scott Walker.
The coincident indexes combine four state-level indicators to summarize current economic conditions including "nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average)."
Ranked 5th and 2nd in leading economic indicators?
Perhaps the Wisconsin economy is finally kicking into gear. And the only ones with long faces will be the liberals in this state who have actively cheered against job creation in a cynical political ploy to win back the governorship. It's never a good political position to be in when you are forced to root against job creation.
As the Cap Times noted late Tuesday:
Those banking on Wisconsin’s economy tanking in hopes it might cost Gov. Scott Walker his re-election are not going to like the latest numbers from the Philly Fed.
Walker's office says this news is just the latest in a series of positive economic developments, which they outlined Tuesday:
•Wisconsin’s seasonally adjusted total nonfarm job gain from May to June shows an initial increase of 17,500, which is the largest month-to-month gain since April 1992.
•Wisconsin’s seasonally adjusted private job gain from May to June shows an initial increase of 13,800, which is the largest month-to-month gain since September 2003.
•CNBC ranked Wisconsin 5th in "Top US States for New Manufacturing Jobs" (June 25, 2013).
• 94 percent of Wisconsin job creators believe the state is "going in the right direction," up from just 10 percent in 2010 (WMC Survey, June 2013).
•Wisconsin’s initial unemployment insurance claims are at prerecession levels
•Year-to-date housing permits are 9.1% higher than prior year levels
•Wisconsin’s percent change in average weekly wage in the fourth quarter of 2012 was 12th in the nation; behind only Minnesota in the Midwest.
