While the report predicts a 0.3% decline in 2010 due to “The weak fiscal position of state and local governments,” that has not produced a decline in employment so far. In 2009, the government sector of employment grew 0.7%. Of course, while other sectors of the economy were struggling in 2010, government continued its growth in employment.
#WISCONSIN DEPARTMENT OF REVENUE WINSCP FOR MAC PROFESSIONAL#
The report predicts “an average strong growth of 2.1 between 20.” Professional and Business Services will ride a wave of temporary employment and see growth of 1.2% in 2010 and 6.9% in 2011. Education and Health Services will have a 1.4% increase in 2010.
There are only two non-government sectors of the economy projected to show employment growth in 2010. Construction employment will continue to decline by another 5.0% in 2010 and 1.4% in 2011. Financial Activities will fall 2.1% in 2010 and fall further by 0.9% in 2011. The Leisure and Hospitality sector is expected to decline 0.2% in employment in 2010 and only grow 0.6% in 2011. Other sectors of the economy are expected to finish 2010 even lower. The sector will not reach its pre-recession employment levels during this period. The report predicts the recovery in this sector will start midway through 2011. However, it will have shrunk to the employment levels of 1995 after another 2.6% decline in 2010.Ī fifteen year decline in the largest employment sector. While government has held steady in this economy, Manufacturing and Trade, Transportation and Utilities combined accounted for more than 65% of the job loss between the first quarter of 2008 and the fourth quarter of 2009.Įven as manufacturing is projected to rebound, the sector of Trade, Transportation and Utilities is still projected to be the largest employer in the private sector. So, even as other job areas of Wisconsin’s economy are shrinking, the Department of Workforce Development’s report from July shows government has added 5,900 jobs over last year. When faced with “possible teacher layoffs,” the federal government “bailed out” the states with $10 billion more in education funding. While other sectors of the economy were struggling in 2010, government continued its increase in employment. The legacy of Governor Jim Doyle is cemented with this fact: Government is the second largest employment segment of the Wisconsin economy, ahead of manufacturing. Sadly, the Department’s projections do not show manufacturing reaching the recent employment peak of 2006 of 505.7 thousand, even by the end of 2013. While Wisconsin may have added 10,900 manufacturing jobs this year, Wisconsin is still projected to finish 2010 with a -0.9% loss year-over-year. Manufacturing is the second largest private employment sector in the Wisconsin economy behind Trade, Transportation and Utilities, but nationally manufacturing is sixth.īecause of its relative importance to Wisconsin’s economy, it’s understandable that the Department of Revenue would want to highlight manufacturing’s projected rebound. Manufacturing accounts for 15.5% of Wisconsin’s employment compared to 8.9% nationally. The Wisconsin Economic Outlook report reminds readers why the manufacturing sector is so important to Wisconsin’s economy.
The report predicts that number will climb to 451.7 thousand in 2011 after four years of decline. By the end of 2010, Wisconsin will have 431.6 thousand people employed in manufacturing. Yet, the Wisconsin Department of Revenue’s report trumpets the notion that the recovery of Wisconsin’s economy has begun, and manufacturing jobs are “leading the way.” Wisconsin has added 10,900 manufacturing jobs of the 25,400 jobs added since last December. The DOR expects the state to reach overall pre-recession employment levels no sooner than 2013. Overall, Wisconsin is projected to see 1.7% growth in employment in 2011 and 2.5% in 2012, but after another 0.7% decline in 2010.
The Department recently issued the quarterly Wisconsin Economic Outlook report.
Wisconsin’s Department of Revenue has seen Wisconsin’s economic future, and it’s so bright we gotta wear shades.
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