Wisconsin nonfarm payroll employment has stabilized at a level down 4.7% relative to NBER peak in 2020M02, vs. 5.4% for the nation overall (according to figures released by DWD yesterday).
Figure 1: Nonfarm payroll employment from April release (blue), forecast from March 2021 Economic Outlook (teal squares), all in 000’s, seasonally adjusted. Source: BLS, DWD, and Wisconsin Department of Revenue.
Employment in manufacturing has continued to rise, albeit slowly (0.5% annualized, log terms). Employment in accommodation and food services is currently rising faster (12.5% annualized), but is still only 2.2% higher than levels in September of last year (and 16.5% below February 2020 levels).
Figure 2: Wisconsin manufacturing employment release (blue), and accommodation and food services employment (red, right log scale), all in 000’s, seasonally adjusted. Source: BLS, and DWD.