The good folks at Econobrowser were kind enough to provide some updated analysis of Wisconsin’s economy. It’s extremely bleak.
Walker cannot hide from these data. His policies have devastated the Badger State. Here’s a summary of their findings:
- Total nonfarm employment continues to decline.
- Contrary to predictions from October’s Wisconsin Economic Outlook, private nonfarm employment continues to decline.
- Local government employment is down by 4700 relative to January 2011, and continues to plummet.
- With the exception of Indiana, no other state in the Fed’s 7th district besides Wisconsin has experienced a sustained decline in its coincident index.
- Looking forward, Wisconsin’s leading indicator continues to signal contraction.
The economy started to tank immediately upon Walker taking office. Since Governor Walker’s policies are extremely contractionary, this chart and these results shouldn’t be surprising. Contractionary fiscal policies result in contraction. You’d think that fact would be obvious. But I know that Walker and the other “Free Market” fundamentalists insist that cutting leads to growth, reality is imposing itself on their fantasyland. To believe that any other outcome was possible is to believe in magic, not reality.