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Tom Walsh Economist, Office of Economic Advisors Department of Workforce Development November 15, 2013 Labor Market Trends and Labor Market Outlook WTCS.

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Presentation on theme: "Tom Walsh Economist, Office of Economic Advisors Department of Workforce Development November 15, 2013 Labor Market Trends and Labor Market Outlook WTCS."— Presentation transcript:

1 Tom Walsh Economist, Office of Economic Advisors Department of Workforce Development November 15, 2013 Labor Market Trends and Labor Market Outlook WTCS Student Employment Services Coordinators

2 Statewide LMI Examining Regional Economies Projections and Outlook Skill Explorer Demo Contents

3 Job Base – U.S.

4 Job Base– U.S. and Wisconsin Source: Bureau of Labor Statics, Current Employment Statistics Total Monthly Job Base Relative to December 2007

5 Job Base– Wisconsin and Neighboring States Source: Bureau of Labor Statics, Current Employment Statistics Total Monthly Job Base Relative to December 2007

6 Unemployment Rates – Wisconsin and US Source: Bureau of Labor Statics, LAUS and CPS

7 Industry Employment Change

8 1.0% 1.7%

9 Industry Employment Change

10

11 Initial Claims for Unemployment Insurance Annual Initial Claims - Statewide Source: Department of Workforce Development, Unemployment Insurance Statistics

12 % Change YTD478,578438, % Week 45 (4-Week Average)11,2789, % Initial Claims for Unemployment Insurance Initial Claims - Statewide Source: Department of Workforce Development, Unemployment Insurance Statistics

13 Change% Change AGRI FORESTRY FISH HUNT % MINING % UTILITIES % CONSTRUCTION7,4644,639-2, % MANUFACTURING12,0757,041-5, % WHOLESALE TRADE1, % RETAIL TRADE3,0962,087-1, % TRANS AND WAREHOUSING1,9561, % INFORMATION % FINANCE AND INS % REAL ESTATE AND RENTAL LEASING % PRO SCI AND TECH SERV % MGMT OF CO AND ENTERPRISES % ADMIN SUPP WASTE MGT REMED SERVS5,8793,743-2, % EDUCATIONAL SERVICES % HEALTH CARE AND SOCIAL ASST2,7251, % ARTS ENT AND REC1,5411, % ACCOMMODATION AND FOOD SERV3,4682,328-1, % OTHER SERV EXCEPT PUBLIC ADMIN % PUBLIC ADMIN % INFO NOT AVAIL % Initial Claims for Unemployment Insurance Initial UI Claims by Industry - Week 42 through Week 45 Source: Department of Workforce Development, Unemployment Insurance Statistics

14 Change% Change Total15,87319,9924,11926% AGRI FORESTRY FISH HUNT % MINING % UTILITIES868933% CONSTRUCTION % MANUFACTURING1,7102, % WHOLESALE TRADE % RETAIL TRADE1,6941, % TRANS AND WAREHOUSING % INFORMATION % FINANCE AND INS % REAL ESTATE AND RENTAL LEASING % PRO SCI AND TECH SERV7081, % MGMT OF CO AND ENTERPRISES % ADMIN SUPP WASTE MGT REMED SERVS4,0315,1751,14428% EDUCATIONAL SERVICES % HEALTH CARE AND SOCIAL ASST2,4223, % ARTS ENT AND REC % ACCOMMODATION AND FOOD SERV % OTHER SERV EXCEPT PUBLIC ADMIN % PUBLIC ADMIN % Internal Job Postings by Industry: Week 42 through Week 45 Internal Job Postings Source: Department of Workforce Development, Internal Job Postings

15 INDUSTRYINITIAL CLAIMSJOB POSTINGS TOTAL AGRI FORESTRY FISH HUNT-- MINING-- UTILITIES-- CONSTRUCTION MANUFACTURING WHOLESALE TRADE RETAIL TRADE TRANS AND WAREHOUSING INFORMATION FINANCE AND INS REAL ESTATE AND RENTAL LEASING PRO SCI AND TECH SERV MGMT OF CO AND ENTERPRISES ADMIN SUPP WASTE MGT REMED SERVS EDUCATIONAL SERVICES HEALTH CARE AND SOCIAL ASST ARTS ENT AND REC ACCOMMODATION AND FOOD SERV OTHER SERV EXCEPT PUBLIC ADMIN PUBLIC ADMIN Initial UI Claims and Internal Job Postings

16 Steady/slow employment growth Similar trajectory Initial UI claims declining Job Postings increasing Summary

17 Examining Regional Economies

18 Regional Employment Change Indexed Employment by WDA (12/2007 = 1) Source: U.S. Census Bureau X-12-ARIMA Seasonal Adjustment Program, U.S. BLS QCEW

19 Demographics Industry Composition Industry Subsector Change Employment Statistics UI Claims Regional Indicators

20 Industry Composition Share of Total Covered Employment Source: WI WORKnet, QCEW

21 Industry Composition Source: U.S Census Bureau, 2012 Q3 QWI

22 Industry Composition Source: U.S. BLS, QCEW Employment Change: Tri-County

23 Employment Statistics

24 OEA County Profiles OEA WDA Data Briefs DWD UI Stats American Factfinder On the Map Helpful Resources

25 Projections and Outlook

26 Projections

27

28 Source: WI OEA, Long-term Employment Projections Projections

29 Source: WI OEA, Long-term Employment Projections Projections

30

31 Outlook

32 Source: U.S Census Bureau, DWD LAUS, WI OEA

33 Outlook

34

35

36 skillexplorer.wisconsin.gov/ Skill Explorer

37 Contact Information The Wisconsin Department of Workforce Development’s Office of Economic Advisors (OEA) is charged with assisting all interested parties in better understanding their local economies. OEA has labor economists positioned throughout Wisconsin to help those involved in economic and workforce Development. For more information about this region please contact: Tom Walsh Regional Economist—North Central Wisconsin


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