The January layoff data from the BLS paint a bleak picture of Wisconsin’s economy. While we await the more comprehensive jobs numbers (Zach asks the question, do you think the numbers will be favorable or unfavorable for Wisconsin?), the layoff data point in a less-than-favorable direction for the Badger State. Illinois, on the other hand, is doing quite well. As a ratio of population, Wisconsin is by-far the worst performing state in the Midwest survey.
The basic numbers look bad for Wisconsin.
Among the major layoffs reported in January were Sub-Zero in Madison with 100 layoffs; M&I/BMO Bank in Milwaukee with 57, Mayville Products with 130 and Colligan’s Bakery in Stevens Point with 51 layoffs.
Only fives states in the U.S. reported more mass layoffs in January: California (342), New York (166), Pennsylvania (120), Florida (87) and North Carolina (84). Among other Midwestern states, Ohio reported 67 mass layoffs and Illinois reported 55.
Wisconsin also experienced the most initial claims for unemployment among Midwestern states in January with 6,014 new applications. Ohio was No. 2 in the region with 5,630, according to the BLS figures.
Here’s the data for the midwest.
|Mass Layoff Events||Initial Unemployment Claims|
Wisconsin has both the highest number of events and the highest number of initial unemployment claims driven by those events. But that’s not the worst of it. When we normalize these numbers for population, Wisconsin is in far worse shape. If we sort the new data by ratio of initial claims by population (derived from the July 2011 estimates), a much worse picture of Wisconsin emerges.
|Events||Claims||Population||Event Ratio||Claims Ratio|
Wisconsin has had nearly twice the layoffs/population than the next state on the list (Indiana). Also, compared to Wisconsin, Illinois has prevented the layoffs we’re seeing here. While the Illinois state budget may be in turmoil, their economy is recovering nicely. Wisconsin is not recovering under the Republicans. It’s high-time we turned them out onto the streets.