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Chippewa County Quarterly Workforce Partners

Chippewa County Quarterly Workforce Partners. Chippewa Falls, WI 12-09-13. 3Q 2013 rose by 3.6%, 2nd estimate, most inputs were positive, with only govt spending (sequester) and import growth negatively influencing GDP.

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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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