Wisconsin Job Watch - March Data Update

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April 21, 2014

The economic recovery continues in Wisconsin, producing new jobs in the state, though still not enough to go back to pre-recession levels. New data from the US Bureau of Labor Statistics shows that Wisconsin added 6,900, after a big drop in February. Growth had been relatively consistent up to that point, but not especially rapid. More than six years since the beginning of the recession, Wisconsin is far from the jobs recovery workers need.

 

Wisconsin’s job deficit now stands at 134,780. Wisconsin still has 32,500 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 102,280 jobs. These two numbers added together – 134,780 – account for the current Wisconsin Job Deficit.

 

Job growth over the course of the recovery has been too slow to close the gap. Nationally, the labor market is about to return to pre-recession levels. Wisconsin still hasn’t made it up to that level. And given population, too many workers are still waiting to find a job or to have greater security and hours in their current job. Adding 6,900 jobs per month (as we did in March) means that recovering all of the jobs lost since 2007 would take almost two more years.