Wisconsinâs unemployment rate drops below 4%, but thatâs not the full story
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Wisconsinâs unemployment rate in January was 3.8%, a slight drop from the previous month but also a dramatic change from the last time the Department of Workforce Development released data.When the department released December jobs data earlier this year, the stateâs unemployment rate was estimated at 5.5%. In the newly released data, the department now says Decemberâs unemployment rate was 4%.The dramatic change in employment figures is the result of a benchmarking process performed by the U.S. Bureau of Labor Statistics. The monthly unemployment data is based on a survey of households. To make it more accurate, the bureau annually compares it to the Quarterly Census of Employment and Wages, a measure drawn from the unemployment insurance payments employers make and considered the gold standard in jobs data.Dennis Winters, chief economist at DWD, said the
Washington s latest economic review: positive indicators amid ongoing uncertainty
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February 2021 ADP Employment Grew 117,000
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January 2020 ADP Employment Grew 174,000
ADP reported non-farm private jobs growth of 174,000 which was above expectations. A quote from the ADP authors:
Although job losses were previously concentrated among small and midsized businesses, we are now seeing signs of the prolonged impact of the pandemic on large companies as well.
Analyst Opinion of ADP Employment Situation
Last month s employment loss was revised upward. It will be interesting to see what the BLS says is jobs growth.
ADP employment has not been a good predictor of BLS non-farm private job growth.
The market expected from Econoday -85,000 to 285,000) - consensus 50,000. These numbers are all seasonally adjusted.
Bloomberg Reporters Ignored Evidence That Complicated Critical Amazon Angle, Economist Says
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