{"id":219174,"date":"2024-04-01T18:11:34","date_gmt":"2024-04-01T18:11:34","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/01\/wisconsin-end-of-2023-surge-econbrowser\/"},"modified":"2025-06-25T17:19:32","modified_gmt":"2025-06-25T17:19:32","slug":"wisconsin-end-of-2023-surge-econbrowser","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/01\/wisconsin-end-of-2023-surge-econbrowser\/","title":{"rendered":"Wisconsin End-of-2023 Surge | Econbrowser"},"content":{"rendered":"

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From BEA state level data released on Friday. GDP grows 4.2% SAAR, Chained CPI deflated wages and salaries by 1.9%; Year-on-Year, 1.5% and 3.0% respectively.\u00a0 While NFP only grew 0.9% q\/q AR, the Philadelphia Fed\u2019s early benchmark measure of NFP grew 1.5%.<\/p>\n

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Figure 1:<\/strong> Wisconsin Nonfarm Payroll Employment (dark blue), Philadelphia Fed early benchmark measure of NFP (pink), Civilian Employment (tan), real wages and salaries linearly interpolated, deflated by national chained CPI (sky blue), GDP (red), coincident index (green), all in logs 2021M11=0. Source: BLS, BEA, Philadelphia Fed [1]<\/a>,\u00a0[2]<\/a>, and author\u2019s calculations.<\/em><\/p>\n

In January, the Coincident Index surged 2.9% q\/q AR. NFP employment appeared to have continued momentum, with February q\/q AR growth at 1.2%.\u00a0 While civilian employment only grew a corresponding 0.4%, it\u2019s important to recall the household survey series are subject to much greater imprecision, particularly at the state level [1]<\/a>.<\/p>\n

In my view, the assertion by the WisGOP in response to Governor Evers\u2019 State of the State address that Wisconsin is undergoing a recession<\/a> is unjustified.<\/p>\n<\/p><\/div>\n

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