Wisconsin’s Workforce Outlook

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Presentation transcript:

Wisconsin’s Workforce Outlook Dennis K. Winters Chief Economist Community Resiliency Symposium Department of Workforce Development November 9, 2017

How the Economy has Changed Economic Recovery ECONOMIC RECOVERY HOW IS THIS ONE NOT LIKE THE OTHER ONES 2

How the Economy has Changed Job Recovery JOBS RECOVERY HOW IS THIS ONE NOT LIKE THE OTHER ONES Latest Recession

How the Economy has Changed GDP Growth 20-year Moving Average Quarterly GDP Growth Source: Bureau of Economic Analysis, OEA

socio-economic policy What will be the biggest socio-economic policy challenge in the next 20 years?

Wisconsin’s Workforce Growth Supply-side Constraints WISCONSIN’S WORKFORCE GROWTH BECOMES FLAT Source: Bureau of Labor Statistics, OEA

Workplace Requirements Changes in Skills Used at Work Nonroutine interactive Nonroutine analytical Routine manual Routine cognitive Nonroutine manual * Based on the Dictionary of Occupational Titles Source: Autor, Levy and Murnane, 2003 Source: K-12 Education and Economic Summit presentation by Alan B. Krueger, Princeton University

Use of Technology Fosters Growth Source: James Bessen; Finance and Development, March 2015

Questions? Dennis Winters Chief Economist 608-267-3262 Dennis.Winters@dwd.wi.gov http://dwd.wisconsin.gov

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