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Wisconsin IDEA
Insight • Data • Economics • Analysis
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The Condition of US Financial Markets
From Concerns of Recession to Potential ‘Soft Landing’
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When the Federal Reserve Bank began raising interest rates to combat inflation in March 2022, coupled with lingering effects of the COVID-19 pandemic, such as continued issues with supply chains, fears of an economic recession began to rise. Numerous leading economic indicators, such as the yield curve, which compares short- to long-term interest rates and the University of Michigan’s Consumer Sentiment Index, pointed to a pending recession. The Conference Board’s composite index of leading economic indicators turned consistently negative and has been declining for several months proving a strong single of a forthcoming recession.
Then in March of 2023, three medium-sized banks failed: Silicon Valley in California, Signature Bank in New York and Silvergate Bank also in California. While these banks failed for a variety of reasons, such as over-exposure to older US debt instruments paying lower interest rates in a period of rising rates (Signature) to cryptocurrencies (Silvergate) to general mismanagement of risk to slow responses of government regulators, there was concern that the underpinnings of the US financial institutions were weak. Memories of the collapse of the secondary financial markets sparking the Great Recession were revisited.
To gain some insights into the underlying condition of national financial markets, this issue of the Wisconsin IDEA Data Snapshot explores trends in two market condition measures: the Federal Reserve Bank of Chicago’s National Financial Condition Index and the Federal Reserve Bank of St. Louis’s Financial Stress Index. The two indices are similar in that a positive value of each index indicates tighter financial conditions (Chicago measure) or higher levels of financial stress (St. Louis measure). They differ in that the specific indicators that make up the respective indices differ. Each index is updated weekly.
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According to a recent report by Pew Research Center, people who are self-employed are more likely to report higher levels of job satisfaction and lower levels of job-related stress.
In a February 2023 survey fielded by the organization, 65% of those who were self-employed reported that their jobs were fulfilling and enjoyable all the time or most of the time. In comparison, 50% of respondents who were not self-employed reported that their jobs were enjoyable and 47% reported their jobs were fulfilling, all or most of the time.
Those who were self-employed reported stress at half the rates of those who were not self-employed. Fifteen percent of those who were self-employed, and 29% of those who were not self-employed, reported that their jobs were stressful all or most of the time. Eight percent of those who were self-employed, and 19% of those who were not self-employed, reported their jobs were overwhelming, all of the time or most of the time.
Slightly less than half, 47%, of those self-employed reported that their jobs could be done from home, and 60% of that sub-group reported that they work from home all of the time. In contrast, 38% of those who were not self-employed reported the ability to work from home, and 32% of that subgroup reported that they worked from home all of the time.
About 76% of self-employed people are working full-time, as compared to 84% of those who are not self-employed. While foreign-born workers make up about 18% of the overall U.S. workforce, they account for 22% of self-employed workers. Men make up 53% of the overall workforce, but account for 64% of self-employed workers.
That brings us to today’s question. About 15 million U.S. workers are self-employed. What percentage of all U.S. workers are self-employed?
A. 15%
B. 2%
C. 10%
D. 22%
E. 40%
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| Unlocking the Potential: Exploring Rural Recruitment & Welcoming Strategies
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Tuesday, August 15, 2023 | 12 pm - 1 pm (CST)
Dive into the world of rural recruitment and welcoming strategies. Drawing inspiration from successful initiatives in Minnesota communities, this webinar will provide practical tools and insights that can be applied to Wisconsin communities. Whether you are a community leader, organizer, or simply passionate about revitalizing rural areas, this presentation offers valuable knowledge to help foster growth and enhance community engagement. Using real world case studies, we will:
- examine the approaches employed by community leaders in Minnesota
- distill valuable lessons learned into actionable advice
- discuss the practical tools and community processes that have proven effective in attracting and retaining new residents
Don’t miss this empowering session that aims to rewrite the narrative surrounding rural areas. Together, let’s uncover the untapped potential and create a brighter future for rural America.
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Broadband Planning Workshop Series (Four-Part Series)
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This 4-session series will cover:
- what data you need for successful local broadband planning,
- how to focus and prioritize your community engagement,
- tips, tools, and templates for using surveys, conversations, community forums, and asset mapping to inform your local broadband planning
Each session will have 30-40 minutes of content. The remainder of the hour will be held for Q&A.
August 7, 2023 | 12 - 1 pm (CST) Session 1: What data do you need for broadband planning?
During this session we will identify data you may have already collected, data that is available through public sources, and data you still need to collect. We will provide you with a data checklist, and links to publicly available data.
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August 14, 2023 | 12 - 1 pm (CST) Session 2: Prioritize and focus your local broadband community engagement.
During this session we will identify goals for engaging the community in your local broadband planning, as well as relevant tools. We will provide you with a community engagement checklist.
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August 21, 2023 | 12 - 1 pm (CST) Session 3: Tools to inform local broadband planning, Part 1: Surveys and Conversations
During this session we will explore when to use surveys and conversations as part of your data collection. We will provide you with survey and conversation templates, as well as a list of tips and best practices.
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August 28, 2023 | 12 - 1 pm (CST) Session 4: Tools to inform local broadband planning, Part 2: Community Forums and Asset Mapping
During this session we will explore when to use community forums and asset mapping as part of your data collection. We will provide you with sample invitations and agendas, as well as a list of tips and best practices.
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(Wisconsin Public Radio - 7/19/2023)
(Wisconsin Public Radio - 7/17/2023)
(Wisconsin Public Radio - 6/23/2023)
(Wisconsin Public Radio - 5/15/2023)
(Wisconsin Public Radio - 5/5/2023)
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Equal Employment Opportunity & Affirmative Action Statements
An EEO/AA employer, the University of Wisconsin-Madison Division of Extension provides equal opportunities in employment and programming, including Title VI, Title IX, the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act requirements. Please make requests for reasonable accommodations to ensure equal access to our educational programs as early as possible preceding the scheduled program, service, or activity.
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