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Chippewa County Quarterly Workforce Partners

Explore the latest workforce trends, economic indicators, and growth forecasts for Chippewa County, WI. Learn about GDP influences, consumer sentiment shifts, job market updates, and valuable resources like the Skills Explorer tool. Stay informed about the local economy and potential opportunities for job seekers and businesses.

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Chippewa County Quarterly Workforce Partners

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  1. Chippewa County Quarterly Workforce Partners Chippewa Falls, WI 12-09-13

  2. 3Q 2013 rose by 3.6%, 2nd estimate, most inputs were positive, with only govt spending (sequester) and import growth negatively influencing GDP 3% would be “ok”, 5% would be “good” growth. So really not too bad, all things considered. Source: Actual--Bureau of Economic Analysis . Shaded area indicates period of recession

  3. LEI up 0.2% in October, six month growth rate points to moderately stronger economic growth in 2014 . Weak consumer demand, cautious businesses still restrain growth. Source: The Conference Board

  4. Consumer Sentiment (UMich) up 9.9% in December. Consumer Confidence (The Conference Board) down 2.8% in November. • Improvement in Umich measure all from households below $75k • Consumers showed greater concern about future economic conditions • Umich near end of month, C Board cutoff 15th of month – shows how volatile consumer movements are right now

  5. Source: Philadelphia Federal Reserve

  6. Some state and local indicators

  7. 2012-2013 Unemployment Rates, Wisconsin Rate: 5.7% Rates below year-ago levels (not seasonally adjusted) Labor force essentially unchanged, employed up slightly (1.5% = 10k), unemployed down significantly (3.1% = 5.5k) Source: US Bureau of Labor Statistics

  8. 2012-2013 Unemployment Rates, Chippewa County Rate: 4.8% Rate below its year-ago level. Employed up 280 (0.9%), unemployed down 44 (2.6%), labor force up 236 (0.7%). Source: US Bureau of Labor Statistics

  9. 2012-2013 Wisconsin Nonfarm Jobs Up over the year, 40,600. Most sectors were up.. Mfg up 9,500, leisure and hospitality up 18,700, professional and biz svcs up 7,100 Source: US Bureau of Labor Statistics

  10. 2012-2013 Eau Claire MSA Nonfarm Jobs Up over the year, 900. Construction/Mining/Natural Resources up 900, relatively small ups and downs in other sectors, prof/biz svcs down 300, Ed (private)/Health down 200 Source: US Bureau of Labor Statistics

  11. Other Trends • US adds 203k jobs in Nov, unemployment rate at 7%, labor force growth largest in 30 yrs • Fed may start to taper bond buying – interest rates will rise • But – still many long term unemployed, and plenty of uncertainty for businesses/consumers • The sequestration bogeyman is still out there..

  12. Skills Explorer • A new skill matching tool from DWD • Great for job seekers looking to see where else their skills fit, other than the occupation they’re in.. • http://skillexplorer.wisconsin.gov/Search.aspx

  13. For copies of this PowerPoint or if you have other questions please contact: Scott Hodek Regional Economist – Serving West Central Wisconsin Office of Economic Advisors Wisconsin Department of Workforce Development 715.836.2997 scott.hodek@dwd.wisconsin.gov Website: dwd.wisconsin.gov/oea

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