Here's another one to add to the list of Scott Walker economic failures. The Philadelphia Federal Reserve
updated its figures for the coincident indexes of all 50 states last week, then
released the June coincident indexes on Friday. When put in perspective over the course of 4 1/2 years under Walker, it keeps Wisconsin in the cellar for growth in this index when compared to our Midwestern neighbors.
On Tuesday, the Philly Fed will update its leading indexes, indicating what it expects the economy to do in all 50 states over the next 6 months. We'll see if there is a change for Wisconsin from the outlook that was there in May, where we were a Midwestern standout for a bad reason.
So if Donald Trump wants
more smack to lay down on Scott Walker's economic record in Wisconsin, here you go Don!
It is strange to feel good about Mr. Trump's latest broadsides, but he does finally puncture the bubble surrounding Walker. Walker has benefitted mightily from the state media's (MJS, and to a marginally lesser extent, the WSJ) hand's off policy towards Walker's ludicrous claims of economic progress in the state. The lack of any, even cursory, scrutiny of Walker's policy outcomes for the state's economy by the major news organizations in the state reveals what I've always feared about the media--they are only interested in "winners" no matter how awful the outcome for general population. So their stories always become: "Walker's opponents say things are bad, but Walker says they are good, and since unemployment is going down, Walker must be right". So in a very strange way, Trump has done something good since his rabid devotees will start questioning Walker's claims, which will be reflected in the Right Wing Media hall-of-mirrors/echo chamber, and which then compels the regular media to begin considering that FitzWalker Wisconsin is not a surging economic powerhouse that is "working" and "going in the right direction".
ReplyDeleteOn a separate note I have been looking for data regarding out-of-state employment trends for Wisconsin residents. My suspicion is that outside of job growth in Dane County the only other source of state resident jobs comes from Minnesota, this would account for the non-demographic-related decrease in unemployment (determined through the household survey which includes out-of-state employment) while state job creation languishes (measured by the quarterly employer survey which is limited to in-state employers).
Doc- On jobs I largely agree with you, especially since Pierce and St Croix Counties are right there with Dane Co for lowest unemployment in the state. QCEW could also be a help for you for county-level stats.
DeleteAs for Trump, I think you're also on-target, except that it's worse. The state's corporate media had a vested interest in Walker's success via ad money, and extra readers if Walker's profile was raised. Therefore, they couldn't speak too much on the awful reality of this guy's tenure.
Nationally, RW media can blow off numbers from guys like me or Dem Party officials as "liberal spin." But when Fox News buddies like Trump start saying it, they have to take on.the opinion, and any facts associated with it. Sad, but I'll take it right now