Wisconsin’s labor market recovered some dynamism in August, adding 6,100 jobs, according to the latest data from the Federal Bureau of Labor Statistics. This is good news. Even so, Wisconsin needs a more consistent growth trajectory.
Wisconsin’s job deficit now stands at almost 152,900. Nearly six years after the recession began, and four years into the recovery, Wisconsin still has fewer jobs – 59,900 fewer jobs -- than in 2007 (before the Great Recession). Wisconsin’s population has grown since then. Just to keep up with that growth, Wisconsin needs to add another 92,970 jobs. These two numbers together – 152,870 – account for the current Wisconsin Job Deficit.
The rate of job growth has simply been too small over the recovery to really close the gap. Workers in the state are still waiting for the sort of dynamic growth that will help the unemployed secure new jobs and help those who have jobs get the hours of work they need. Adding 6,100 jobs per month (as we did last month) would mean that the recovery of jobs is more than two years away.