Wisconsin lost fewer jobs than originally reported in the months of March and April but reported job losses nonetheless, according to U.S. Bureau of Labor Statistics data released by the Wisconsin Department of Workforce Development.
The DWD also released preliminary data for May, indicating that Wisconsin employers created 12,700 jobs from April to May. However, it’s important to note that the preliminary data are based on a very small sampling of state employers (5,500, or 3.5%) and are subject to change, often a significant change, in subsequent monthly reports.
In March and April, the state lost 3,700 fewer nonfarm jobs than first reported in preliminary data, but the actual jobs losses were still alarming. In March, state payrolls declined by 7,000, according to the revised numbers, after a preliminary report projected 8,500 lost jobs. In the private sector, the state gained 100 jobs, according to revised figures.
In April, the revised losses were even more profound, as payrolls dipped by 21,900, compared to the preliminary report of 24,100. Private-sector jobs plummeted by 20,800 that month, according to the revised data.
The official state seasonally adjusted unemployment rate now stands 7%, down from 7.1% in April. The national unemployment rate stands at 7.6%.
Seasonally adjusted figures show the civilian labor force now stands at 3,068,500 people, 2,851,500 of whom are employed and 217,000 of whom are unemployed.
According to the Quarterly Census of Employment and Wages, which is based on a survey of 95% of state employers, Wisconsin gained 62,000 jobs in 2011 and 2012. That’s an improvement over the job losses seen during the recession but well behind the 250,000-job pace Gov. Scott Walker set as a goal for his current term in office.
Other economic indicators also point to moderate-to-strong growth. The State Department of Revenue reported that through April, state revenue collections increased 4.5% in fiscal year 2013. In addition, new business formation is up 3.6% through May, compared to the first five months of 2012.
