Saturday, December 10, 2011

Walker-Led Wisconsin Dead Last In Federal Bank Economic Ranking

Hat tip, Scott Walker and his free-market failure friends in the Legislature who have mismanaged us into a last-place national finish for economic success, as this Federal Reserve report and map indicate. Wisconsin is the red state on the map at the bottom of the ranking.

[update here.]

And here's another report showing how poorly Wisconsin fares in job growth compared to neighboring states.

It's not working, Governor. 

Little wonder that the Wisconsin Department of Revenue has already said Walker's 250,000- new-jobs-in-four-years-is-a pipe-dream."
The Federal Reserve Bank of Philadelphia produces a monthly coincident index for each of the 50 states. The indexes are released a few days after the Bureau of Labor Statistics (BLS) releases the employment data for the states. The Bank issues a release each month describing recent trends in the state indexes, with special coverage of the three states in the Third District: Pennsylvania, New Jersey, and Delaware.
The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic. The four state-level variables in each coincident index are nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average). The trend for each state’s index is set to the trend of its gross domestic product (GDP), so long-term growth in the state’s index matches long-term growth in its GDP...
The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for October 2011. In the past month, the indexes increased in 43 states, decreased in five, and remained unchanged in two (Georgia and New Mexico) for a one-month diffusion index of 76. Over the past three months, the indexes increased in 42 states, decreased in seven, and remained unchanged in one (Delaware) for a three-month diffusion index of 70.

Latest Data & Maps

Latest Map for State Coincident Indexes


Jake formerly of the LP said...

Thanks for that lead James. Reposted on my site, and lots of great info to break down with the Excel file from the Fed.

James Rowen said...

Great. I'll take a look,

Ed Hammer said...

C'mon, cut Scooter some slack. He and his cronies have been busy cutting health care for the poor, giving tax breaks to the rich, slashing education, passing concealed carry. They have been busy doing other stuff. Heck, he said Wisconsin was "open for business" shouldn't that have been enough?