Wisconsin employment in May. (Update 6/23 to include growth decomposition)
Figure 1: Wisconsin nonfarm payroll employment, 000’s, seasonally adjusted (blue). Source: WI DWD
Figure 2: Wisconsin private nonfarm payroll employment, 000’s, seasonally adjusted (blue), and trend consistent with Governor Walker’s August 2013 promise to create 250,000 net new jobs by end of first term (red). Source: WI DWD and author’s calculations.
Note that April figures were revised downward; total and private were revised down 3600 and 3400 respectively.
Since the employment figures are based on surveys, I would take the last eight months of data with a grain of salt. However, a downward trend over the last three observations suggests at a minimum some sort of slowdown.
Update, 6/23 9am Pacific: Here is a decomposition of changes in employment, by industry.
Figure 3: Month-on-month change in employment by industry, in 000’s. Source: BLS and author’s calculations.
One interesting aspect is that trade, transportation and utilities accounts for a noticeable share of the May employment decrease. On the other hand, manufacturing does not account for a large share, suggesting the strength of the dollar is not central to the Wisconsin story.