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Annual Vets Conference

Annual Vets Conference. Neenah, WI 05-08-13. Gross Domestic Product. 1Q 2013 rose by 2.5%, 1st estimate, most inputs were positive, with only govt spending (sequester) and import growth negatively influencing GDP.

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Annual Vets Conference

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  1. Annual Vets Conference Neenah, WI 05-08-13

  2. Gross Domestic Product 1Q 2013 rose by 2.5%, 1st 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. Actual Source: Actual--Bureau of Economic Analysis . Shaded area indicates period of recession

  3. LEI down 0.1% in March, CEI also down (drop in income). Loss in govt spending means private sector may struggle to hold up growth. Source: The Conference Board

  4. Consumer Sentiment (UMich) down 2.2 pts in April. Consumer Confidence (The Conference Board) up 6.2 pts in April. • Consumers feel more positive about housing, but less confident about job growth over half expect inflation to exceed wage gains. Sequester and payroll taxes likely drag on growth.

  5. Source: Philadelphia Federal Reserve

  6. Some state and local indicators

  7. 2012-2013 Unemployment Rates, Wisconsin Rate: 7.6% Rates below year-ago levels (not seasonally adjusted) Labor force up slightly, employed up slightly, unemployed down slightly (0.5%) Source: US Bureau of Labor Statistics

  8. 2011 Vets/Nonvets Age

  9. 2012 Vets Labor Force, Wisconsin

  10. 2012-2013 Wisconsin Nonfarm Jobs Up over the year, 9,300. Mfg up 7,800, leisure and hospitality up 10,000, retail trade down -6,400 Source: US Bureau of Labor Statistics

  11. Shift Share Analysis, 2011-2012 Annual, WI-US Source: CES, shift-share analysis – Scott Hodek, OEA

  12. Source: WI DWD OEA Projections

  13. Share of the 25-and-over population with no high school diploma or equiv. Sources: Data from Census Bureau, American Community Survey 2006-2010Mapping by WI DWD Office of Economic Advisors

  14. Share of the 25-and-over Population with a Bachelor’s or more

  15. Source: WI DWD OEA Projections

  16. The Aging Workforce

  17. Median Age in 1990 Median Age in 1991 Median Age in 1992 Median Age in 1993 Median Age in 1994 Median Age in 1995 Median Age in 1996 Median Age in 1997 Median Age in 1998 Median Age in 1999 Median Age in 2000 Median Age in 2001 Median Age in 2002 Median Age in 2003 Median Age in 2004 Median Age in 2005 Median Age in 2006 Median Age in 2007 Median Age in 2008 Median Age in 2009 Median Age in 2010 Median Age in 2011 Source: Original data from WI Dept. of Health Services, Wisconsin Interactive Health Statistics (WISH) query , http://www.dhs.wisconsin.gov/wish/ 4/31/2013 Mapping by WI Dept. of Administration, Division of Intergovernmental Relations, Demographic Services Center (608) 266-1755.

  18. Source: WI DOA population projections 2010-2040; BLS, QCEW; and DWD, OEA employment Projections, 2010-2020

  19. Other Trends • Sequestration – We’re the big news right now, and our own worst enemy • The Euro zone • China’s economy

  20. 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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