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Wisconsin IDEA
Insight • Data • Economics • Analysis
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Wisconsin's Labor Market Rebounding
State Unemployment Rates: 4-Quarter Moving Average
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Unemployment is officially measured as the share of the labor force consisting of individuals without a job, but who are available to work and have actively sought employment in the last four weeks. This official figure is known as the U3 rate and is one of six measures of labor underutilization from the Bureau of Labor Statistics. These measures are reported using a four-quarter moving average to increase the reliability of the estimates and remove the influences of seasonality.
Unsurprisingly, the four-quarter averages for these labor underutilization measures increased dramatically with the onset of the pandemic. While these measures do not reflect Wisconsin’s most current employment conditions, the rates of growth for all six measures are slowing and may be peaking. If so, these measures suggest that Wisconsin’s labor market is rebounding and will not face the sustained high rates of labor underutilization experienced during the recovery from the Great Recession.
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As a result of the COVID-19 pandemic, employment levels across all income groups in Wisconsin begin to decline in early March 2020. The effects of the pandemic were not spread equally among wage earners, however. At its lowest point on April 19, 2020, there was a reduction of 8.3% in employment levels for high-wage earners (workers making more than $60,000 annually), a reduction of 15.4% for middle-wage earners ($27,000 to $60,000), and a reduction of 32.9% for low-wage earners (making less than $27,000 annually).
On January 20, 2021, the one-year anniversary of the first COVID-19 case in the US, how much had employment levels in lower-wage jobs decreased in Wisconsin?
A. -24.3%
B. -31.6%
C. -16.9%
D. -28.0%
Find the answer at the bottom.
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Three Types of Community Economic DevelopmentWednesday, May 12, 12-1 pm
Join Steve Deller, Professor of Agricultural and Applied Economics and Community Economic Development Specialist, for a conversation about CED and where your work fits.
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The 4th Wave of Economic DevelopmentWednesday, May 26, 12-1 pm
Join Steve Deller, Professor of Agricultural and Applied Economics and Community Economic Development Specialist, for an engaging presentation on the 4th wave of economic development.
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ESRI Business Analyst WorkshopTuesday, July 20, 12-1:30 pm
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Entrepreneurship in Economic Development: What Practitioners Need to Know (Parts 1, 2, and 3)
Wednesday, August 11, 18, and 25, 12-1 pm
Join Tessa Conroy, Assistant Professor of Agricultural and Applied Economics and Community Economic Development Specialist, for 3-part series on the importance of entrepreneurship in economic development.
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Wisconsin Child Care Business Initiative
Wisconsin Child Care Business Initiative supports child care business owners looking to improve or grow their operations and helps new owners chart their course to success. Enrollment open now!
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Energy On WisconsinClean energy remained the biggest job creator across the entire US energy sector in 2020. An analysis by E2 (Environmental Entrepreneurs) in April 2021, found that 3 million Americans worked in clean energy at the close of 2020. Wisconsin ranks 17th among states in clean energy jobs with 69,343 jobs or 2.53 percent of the state’s workforce. Wisconsin’s job growth increased 6.2 percent June – December 2020.
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Design Wisconsin: Forward Three LakesIn 2019, Three Lakes lost two of its downtown landmarks when fire destroyed the Three Lakes Diner and the Oneida Village Inn. Dedicated and passionate community members organized to move the community forward, taking the name Forward Three Lakes. They worked with Oneida County Community Development Educator, Myles Alexander, and Land Use & Community Development Specialist, Todd Johnson. Together they engaged the Three Lakes community in a holistic and intense public participatory community design process called Design Wisconsin - a program that connects communities with planning and design professionals to draw out a shared vision of the community’s future. This program is offered by the Community Vitality & Placemaking Signature Effort.
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Broadband in Taylor CountyLike many places across Wisconsin and the country, Taylor County lacks access to reliable, high-speed broadband. Local leaders in Taylor County decided to do something about it. Guided by the work of Taylor County Community Development Educator, Michelle Grimm, the county's Broadband Committee approved spending up to $10 million over the next 20 years to build a middle mile network - a term used to refer to connecting local networks to other service providers and the larger broadband infrastructure. Extension provided information on grant programs, supplied local maps and data, and identified speakers to help the Broadband Committee how to best partner with service providers.
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Economic Impact of Gateway to The Driftless Trail System
Sauk County Community Development Educator, Jenny Erickson, fellow Extension colleagues Mindy Habecker, Matt Kures, and Dave Marcouiller, and several state and county partners completed a comprehensive report, The Potential Economic Effects of The Gateway to The Driftless Trail System. This report highlights the importance of trail systems to local quality of life and business activity in South Central Wisconsin. The report demonstrates how the area would benefit by connecting Sauk County and Dane County trails via a recreational bridge crossing the Wisconsin River at Sauk City.
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Economic Development Plan in Wood CountyWood County Community Development Educator, Nancy Turyk, worked with several county organizations and individuals to develop Wood County’s first-ever Economic Development Plan. After unanimous approval by the Wood County Board in early April, the plan will now act as a guiding document for the county with clear economic development priorities.
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Answer: A. Employment levels for lower-wage earners in Wisconsin had decreased by 24.3% at the one-year anniversary of the first COVID-19 case in the U.S. In comparison, employment levels across all income levels decreased by 10.1% at the one-year anniversary.
Source: Tracktherecovery.org
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