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Business / Finance / Markets / Money

Wisconsin Manufacturing Employment Boom Revised Away

Wisconsin Manufacturing Employment Boom Revised Away

New state level employment data, benchmarked through September 2017, released yesterday indicate the manufacturing employment surge reported last year has been erased, as I predicted in this post. The October-January data do not incorporate additional information from the Quarterly Census of Employment and Wages.


Figure 1: Wisconsin manufacturing employment, January release (thick red), December release (pink), 000’s, s.a., on log scale. Light green shading denotes period in which data revised/benchmarked. Source: BLS via FRED, ALFRED.

The revised series is much in line with my predictions provided in this post, based on QCEW data. Nonfarm payroll employment was also revised downward.


Figure 2: Wisconsin nonfarm payroll employment, January release (thick red), December release (pink), 000’s, s.a., on log scale. Light green shading denotes period in which data revised/benchmarked. Source: BLS via FRED, ALFRED.

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