From USAToday:
“Americans are struggling to cope with the fall in today’s markets driven in part by China’s slowing economy and the fact that they actively manipulate their economy,” the Wisconsin governor said in a statement. “Rather than honoring Chinese President Xi Jinping with an official state visit next month, President Obama should focus on holding China accountable over its increasing attempts to undermine U.S. interests.”
Civilian employment falls to 1.3% below prior peak.
Wisconsin is not outpacing its neighbors according to the Philadelphia Fed’s coincident indices meant to proxy economic activity; and, contrary to assertions [1], the lagging pace of Wisconsin is not apparently attributable to a milder downturn in Wisconsin.
From Washington Post:
GOP presidential hopeful Scott Walker said Monday that children of illegal immigrants who are born in the United States should not automatically receive U.S. citizenship.
While Wisconsin lags, and statistically significantly so…
No surprise, Minnesota beats Wisconsin, again.
Updated 8/3:
From WaPo:
“Wisconsin’s doing terribly. It’s in turmoil. The roads are a disaster because they don’t have any money to rebuild them. They’re borrowing money like crazy. They projected a $1 billion surplus, and it turns out to be a deficit of $2.2 billion. The schools are a disaster. The hospitals and education was a disaster. And he was totally in favor of Common Core, which I hate!”
According to today’s release, employment and hours downturns in Wisconsin and Kansas continue. The Wisconsin economic downturn continues along several other dimensions (with the labor force now declining).
The Philadelphia Fed yesterday posted the results of a revision of both coincident and leading indices, as explained here. The resulting plot for California, Kansas, Minnesota, Wisconsin and the US is shown below.
Wisconsin employment has now fallen below pre-recession peaks…
[Updated, with comments from WMC and Lt. Gov. Kleefisch; warning – your head will hurt after reading]
Figures released this afternoon indicate the three month change in nonfarm payroll employment and civilian employment have been negative for two and three months respectively. Since the Wisconsin Department of Workforce Development (DWD) memo makes no mention of this, I think it useful to document the negative trends in Wisconsin employment.