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Tom Walsh Economist, Office of Economic Advisors Department of Workforce Development

Labor Market Trends and Labor Market Outlook. WTCS Student Employment Services Coordinators. Tom Walsh Economist, Office of Economic Advisors Department of Workforce Development November 15, 2013. Contents. Statewide LMI Examining Regional Economies Projections and Outlook

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Tom Walsh Economist, Office of Economic Advisors Department of Workforce Development

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

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

  3. Job Base – U.S.

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

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

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

  7. Industry Employment Change

  8. Industry Employment Change 1.0% 1.7%

  9. Industry Employment Change

  10. Industry Employment Change

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

  12. Initial Claims for Unemployment Insurance Initial Claims - Statewide Source: Department of Workforce Development, Unemployment Insurance Statistics

  13. Initial Claims for Unemployment Insurance Initial UI Claims by Industry - Week 42 through Week 45 Source: Department of Workforce Development, Unemployment Insurance Statistics

  14. Internal Job Postings Internal Job Postings by Industry: Week 42 through Week 45 Source: Department of Workforce Development, Internal Job Postings

  15. Initial UI Claims and Internal Job Postings

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

  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. Regional Indicators • Demographics • Industry Composition • Industry Subsector Change • Employment Statistics • UI Claims

  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 2011-2012 Employment Change: Tri-County Source: U.S. BLS, QCEW

  23. Employment Statistics

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

  25. Projections and Outlook

  26. 2010-2020 Projections

  27. 2010-2020 Projections

  28. 2010-2020 Projections Source: WI OEA, Long-term Employment Projections 2010-2020

  29. 2010-2020 Projections Source: WI OEA, Long-term Employment Projections 2010-2020

  30. 2010-2020 Projections

  31. Outlook

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

  33. Outlook

  34. Outlook

  35. Outlook

  36. Skill Explorer skillexplorer.wisconsin.gov/

  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 715.261.8747 Thomas.Walsh@dwd.wisconsin.gov

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