The number of employees in June was Released Nowadays.
Non-agricultural employment and forecast for March 2021:
figure 1: The non-agricultural employment numbers released in April (blue) and the forecasts of the economic outlook for March 2021 (cyan squares) are all based on 000, seasonally adjusted. Source: BLS, DWD, and Wisconsin Department of Revenue.
The number of non-agricultural employment in June was slightly lower than the DoR’s forecast for the second quarter, with an annual growth rate of 4.6%, much lower than the same period last year (47.1%), but still higher than in recent months. 4.6% is slower than the national rate of 7.3%.The slowdown in employment growth may be caused by a variety of factors, but The argument that increasing unemployment benefits is obviously not the cause As of May, it has not been verified by any formal research I know of. The total number of unemployed persons remained basically unchanged from April to June. As of June, the number of non-agricultural employment in WIsconsin has fallen by 4.3%, while the country has fallen by 4.5%.
It is important to review the duality of the recovery, especially since employment in high-touch service industries is still more sluggish than commodity production. The recovery in accommodation and food services appears to have stalled (based on seasonally adjusted figures), while manufacturing employment has returned to rise.
figure 2: Wisconsin manufacturing employment data (blue) and accommodation and food service employment data (red, logarithmic scale on the right) are in units of 000, seasonally adjusted. Source: BLS and DWD.
Employment in the manufacturing sector was 1.0% lower than the level in February 2020, while the accommodation and food service industries fell by 16.7% (seasonally adjusted), logarithmic.
Finally, we can look at how other employment indicators track the labor market.
image 3: Non-agricultural employment (blue) and civilian employment (red) are both in the log, 2020M02=0. Source: BLS through FRED.
Both series are on the rise, and non-agricultural employment grew faster in June.Civilian employment based on household rather than institutional surveys showed lower growth, but More inaccurate and require extensive modificationIn this case, it is best to rely on year-on-year figures, where civilian employment increased by 6.7%, while non-agricultural employment increased by 5.3%.
I usually refer to Wisconsin labor market data because of the official statistics, the employment report has the shortest lag time.However, recently developed tools Builder, Leiva-León and Sims Allows higher frequency tracking, as described Here with Here. This is a weekly tracking of Wisconsin, Minnesota, and the United States, as of June 26, from their dash board.
source: Baumeister et al.
This indicator shows that Wisconsin’s economic activity growth peaked in the week ending May 1 and remained at an abnormally high rate in the week ending June 26.
