Wednesday in Whitewater will be partly sunny with a high of 87. Sunrise is 5:15 and sunset 8:34 for 15h 18m 33s of daytime. The moon is a waxing crescent with 34.5 percent of its visible disk illuminated.
The storm virtually leveled New Richmond on the day the Gollmar Brothers Circus came to town. At the time, New Richmond was a prosperous town of 2500 people and one of the most scenic places in Wisconsin. On the day of the storm, the streets were filled with residents and tourists waiting for the afternoon circus parade. Shortly after the circus ended, the tornado passed through the very center of town, completely leveling buildings. Over 300 buildings were damaged or destroyed. Massive amounts of flying debris resulted in multiple deaths in at least 26 different families. In all, the storm claimed 117 lives and caused 150 injuries.
On this day in 1944, American paratroopers of the 101st Airborne Division secure the town of Carentan, Normandy, France.
The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday.
The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a year ago, according to the department’s Bureau of Labor Statistics.
Economists surveyed by Dow Jones had been looking for a 0.1% monthly gain and a 3.4% annual rate.
Excluding volatile food and energy prices, core CPI increased 0.2% on the month and 3.4% from a year ago, compared with respective estimates of 0.3% and 3.5%.
….
Following the report, stock market futures pushed higher while Treasury yields slid.
Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve’s inflation battle and make up a heavy share of the CPI weighting.
(Emphasis added.)
The cost of shelter continues to increase nationally, forcing the many to pay more of their income to the few for a place to live.
Friday in Whitewater will be windy with a high of 75. Sunrise is 5:16 and sunset 8:31 for 15h 15m 15s of daytime. The moon is a waxing crescent with 1.5 percent of its visible disk illuminated.
Resolved, That these United Colonies are, and of right ought to be, free and independent States, that they are absolved from all allegiance to the British Crown, and that all political connection between them and the State of Great Britain is, and ought to be, totally dissolved.
That it is expedient forthwith to take the most effectual measures for forming foreign Alliances.
That a plan of confederation be prepared and transmitted to the respective Colonies for their consideration and approbation.
June 7 (Reuters) – The U.S. economy created far more jobs than expected in May and annual wage growth reaccelerated, underscoring the resilience of the labor market and reducing the likelihood the Federal Reserve will be able to start rate cuts in September. The Labor Department’s closely watched employment report on Friday also showed the unemployment rate ticked up to 4.0% from 3.9% in April, reaching a symbolic threshold below which the jobless rate had previously held for 27 straight months.
The unexpectedly strong report made plain that while the labor market has softened around the edges in recent months, its still-solid performance is set to keep the Fed on the sidelines and taking its time in deciding when to begin lowering borrowing costs. Financial markets slashed the odds of a September rate cut, reducing the probability to about 55% from about 70% before the report, based on rate futures contracts.
These are national figures; they are not local measures of progress. Whitewater’s old guard wasted a generation by which our city has lagged our nation.
These types would like to tell the city they have answers for the next generation’s needs.
Admittedly, they’re right — they do have answers for the next generation: answers as wrong and counter-productive as the ones they’ve been giving for decades. (If they’d advised and guided correctly, longtime residents now in need wouldn’t be bartering for diapers and small appliances on social media.) If these men have but one skill, it hasn’t been in getting conditions right, but instead in shameless self-promotion while they’ve been getting conditions wrong.
Whitewater will see widespread prosperity when she moves away from her stultifying past.
Greater Sage-Grouse are one of the most iconic birds of the American West. Each spring across the sagebrush steppe, they gather at mating grounds, called leks. There, males perform incredible courtship displays for onlooking females. Experience the magic of sage-grouse from inside a photography blind on a lek in southern Wyoming with Audubon Rockies’ communications manager, Evan Barrientos.
Friday in Whitewater will be sunny with a high of 78. Sunrise is 5:28 and sunset 8:14 for 14h 45m 29s of daytime. The moon is a waxing gibbous with 69.5 percent of its visible disk illuminated.
On this day in 1673, the Jolliet and Marquette Expedition gets underway as Louis Jolliet, Father Jacques Marquette, and five French voyageurs depart from the mission of St. Ignace, at the head of Lake Michigan, to reconnoiter the Mississippi River. The party traveled in two canoes throughout the summer of 1673, traveling across Wisconsin, down the Mississippi to the Arkansas River, and back again.
On this day in 1973, televised Watergate hearings begin in the United States Senate.
Wisconsin jobs and employment held steady in April, extending a strong economic streak that has been in place for more than two years, according to the state labor department.
“Businesses are still telling us that they are looking for workers,” said Dennis Winters, chief economist at the Wisconsin Department of Workforce Development (DWD), at a briefing Thursday on the April jobs numbers. “Anybody that’s out there [has] probably got a pretty good chance of getting a job if they’ve got some skills to offer. We expect that to continue, too.”
The projected number of jobs in Wisconsin reached just under 3.05 million in April, while the unemployment rate fell below 3%.
The monthly statistical projections are based on two surveys conducted by the federal government. Projections about the labor force and employment are based on a household survey that asks people whether they are working or looking for work, among other questions. The jobs numbers are projected from a separate survey asking employers how many people are on their payrolls.
Based on the household survey projections, in April nearly 3.14 million Wisconsin residents were in the state’s labor force, either working or actively seeking work, DWD reported Thursday — 65.6% of the state’s population over the age of 16. Wisconsin’s labor force participation rate for the month was almost three percentage points higher than that of the U.S., 62.7%.
What a shame it would be for Whitewater to cling to ideas from her failed past rather than join in the favorable trends that other communities are now enjoying. And yet, and yet a few tired men would like nothing more than that a community of fifteen thousand should live as though it served only a few.
Wednesday in Whitewater will be sunny with a high of 71. Sunrise is 5:30 and sunset 8:11 for 14h 41m 31s of daytime. The moon is in its first quarter with 50.5 percent of its visible disk illuminated.
The Whitewater School Board meets in closed session shortly after 5 PM, to return to open session thereafter this evening. Whitewater’s Parks & Rec Board meets at 5:30 PM.
On this day in 1911, in Standard Oil Co. of New Jersey v. United States, the United States Supreme Court declares Standard Oil to be an “unreasonable” monopoly under the Sherman Antitrust Act and orders the company to be broken up.
Inflationshowed some signs of improvementin April, as policymakers grapple with whether their fight against abnormally high price growth is losing ground.
Data released Wednesday from the Bureau of Labor Statistics showed prices rose 3.4 percent in April, compared with the year before. That’s down a bit from the 3.5 percent notched in March, and follows months of hotter-than-expected reports. Prices rose 0.3 percent compared with the month before.
In a particularly encouraging note, a key reading of inflation known as “core” — which strips out more volatile categories like food and energy — rose 0.3 percent. That measure was up 3.6 percent on an annual basis, the lowest year-over-year increase since 2021. Policymakers pay close attention to that gauge because it helps them tease out stickier sources of inflation from the kinds of rising prices that typically bounce around month to month.
If conditions improve nationally, and if that national improvement reaches Whitewater, then what will local policymakers make of that improvement? If conditions do not improve nationally, and that lack of improvement besets Whitewater, then how will local policymakers carry on?
Bringing back policymakers from the failed past will only ensure a failed future. Again, a reminder:
The only reason to return to the policies and leaders of the past would be if someone had no hope of either any possible growth or no hope for ameliorating any possible decline. That is, yesterday’s self-promoting mediocrities would be of value to Whitewater only if nothing anyone did would matter. See Whitewater’s Still Waiting for That Boom and Now is Whitewater’s Time to Seize an Improving National and State Economy. Only hopelessness among many or the selfishness of a few would lead Whitewater to return to her economic past.
People choose freely, sometimes well, sometimes poorly.
Friday in Whitewater will be sunny with a high of 73. Sunrise is 5:44 and sunset 7:58 for 14h 14m 44s of daytime. The moon is a waning crescent with 26.3 percent of its visible disk illuminated.
On this day in 1957, Walter O’Malley, the owner of the Brooklyn Dodgers, agrees to move the team from Brooklyn to Los Angeles.
National job creation slowed last month, with 175,000 additional jobs created. Additional jobs were created, but fewer than the month before. Is there a silver lining in this? Yes, quite possibly. Jeanna Smialek writes The Fed Is Looking for a Job Market Cool-Down. It Just Got One (‘Wage growth and hiring slowed in April, evidence of the job market slowdown that Federal Reserve officials have been waiting on’):
While inflation is the main thing determining when and how much borrowing costs can come down, Jerome H. Powell, the chair of the Federal Reserve, made it clear this week that central bankers are also watching what happens with hiring and pay.
Mr. Powell emphasized repeatedly this week that the Fed did not specifically target wage growth when setting policy, but he also suggested that pay gains might need to slow further for inflation to come down sufficiently and in a lasting way — which means that Friday’s numbers could be a welcome development.
“We don’t target wages; we target price inflation,” he said. When it comes to cooling the economy, he said, “part of that will probably be having wage increases move down incrementally toward levels that are more sustainable.”
Stock indexes picked up after the report, as investors welcomed the more moderate data as a sign that interest rates may not stay high for as long. Investors in assets like stocks tend to prefer low rates.
These are national job numbers (with implications for the national inflation rate). Overall, these favorable national figures (job creation, relatively low unemployment, and conditions that may cool inflation).
Locally, however, there is a stark truth about municipal economic & development policy: The only reason to return to the policies and leaders of the past would be if someone had no hope of either any possible growth or no hope for ameliorating any possible decline. That is, yesterday’s self-promoting mediocrities would be of value to Whitewater only if nothing anyone did would matter. SeeWhitewater’s Still Waiting for That Boom and Now is Whitewater’s Time to Seize an Improving National and State Economy.
Only hopelessness among many or the selfishness of a few would lead Whitewater to return to her economic past.
Friday in Whitewater will be cloudy with evening showers and a high of 60. Sunrise is 5:53 and sunset 7:51 for 13h 57m 12s of daytime. The moon is a waning gibbous with 93.5 percent of its visible disk illuminated.
Asking that his hands be raised to his face so that he could see them, Booth uttered his last words, “Useless, useless,” and as dawn was breaking he died of asphyxiation as a result of his wounds
The Federal Reserve’s most closely watched inflation measure remained stubborn in March, the latest evidence that price increases are not fading as quickly as policymakers would like, and another reason that interest rates may stay higher for longer.
Investors came into 2024 hopeful that Fed officials would cut rates substantially this year, but those hopes have been fading as inflation has shown much more staying power than expected. Wall Street increasingly sees lower rates coming much later in the year, if the Fed manages to cut them at all.
The latest Personal Consumption Expenditures index reading could keep the Fed on a cautious path as it considers when to lower borrowing costs.
The overall inflation index rose by 2.7 percent in the year through March, up from 2.5 percent in February and slightly more than economists had expected.
….
Investors are now betting that the Fed might make its first move in September or later, based on market pricing, and a small but growing share think that it may not manage to cut rates at all this year.
Wednesday in Whitewater will be mostly sunny with a high of 66. Sunrise is 6:18 and sunset 7:32 for 13h 13m 48s of daytime. The moon is a waxing crescent with 4.4 percent of its visible disk illuminated.
On this day in 1872, the first Arbor Day (in America) is celebrated in Nebraska.
A closely watched measure of inflation remained stronger than expected in March, worrying news for Federal Reserve officials who have become increasingly concerned that their progress on lowering prices increases might be stalling.
The surprisingly stubborn inflation reading could raise doubts about when the Fed will be able to start cutting interest rates, and how much they will be able to reduce borrowing costs this year.
The Consumer Price Index climbed 3.8 percent on an annual basis after stripping out food and fuel prices, which economists do in order to get a better sense of the underlying inflation trend. That was stronger than the 3.7 percent increase economists expected, and unchanged from 3.8 percent in February. The monthly reading was also stronger than what economists had forecast.
On an overall basis, the inflation measure climbed 3.5 percent in March from a year earlier, up from 3.2 percent in February and faster than what economists have anticipated. A rise in gas prices contributed to that inflation number.
Lower than it was a year ago, higher than consumers (and the Federal Reserve) would like.
Friday in Whitewater will be partly sunny with a high of 46. Sunrise is 6:27 and sunset 7:26 for 12h 59m 36s of daytime. The moon is a waning crescent with 14.2 percent of its visible disk illuminated.
On this day in 1792, President Washington exercises his authority to veto a bill, the first time this power is used in the United States.
Thursday in Whitewater will see scattered morning snow showers with a high of 41. Sunrise is 6:29 and sunset 7:25 for 12h 56m 44s of daytime. The moon is a waning crescent with 23.6 percent of its visible disk illuminated.
The Whitewater Common Council meets tonight at 6:30 PM.
Consider the claim, in a comment at FREE WHITEWATER from two days ago, that some in the retail and service sector in the city (and other area communities) would find lack of confidence akin to low confidence “not in the height of the 2008 recession but certainly in its lingering aftermath.”
What to make of the claim?
It’s accurate, that’s what.
The Great Recession (2007-2009), more even than the pandemic, was and remains the most important economic event of our time. (The pandemic had immediate and tragic consequences for many lives, but it was the failure to address the Great Recession’s effects that set Whitewater and other places on their economic and socio-economic course.)
Whitewater, in particular, could not have had worse leaders than the ones from that time in grasping and responding to the Great Recession. A few are still around, as feckless and ineffectual as they were then.
How to think of that time: like a man with a disease untreated, or a broken bone left unset: other maladies or deformities have sprung from the failure to treat effectively the original condition.
Some of us have, of course, done well even in hard times for others, as an earlier generation did even during the Great Depression.
Can we who have done well not see that, in our very community, there are longtime residents who through necessity now barter for diapers, baby food, and small appliances?
That’s hardship for them and policy failure for us. (For advocates of free markets, like this libertarian blogger, these questions arise: did markets reach everyone, if they did not why not, and if they did why were they ineffective in specific cases?)
Greatly simplified (as these are not wholly separate forces): Economic loss leads to socio-economic dysfunction and socio-economic dysfunction leads to community fragmentation, strife, and chronic hardship.
Tuesday in Whitewater will be rainy with a high of 40. Sunrise is 6:32 and sunset 7:23 for 12h 50m 59s of daytime. The moon is a waning crescent with 48 percent of its visible disk illuminated.
On this day in 1865, defeat at the Third Battle of Petersburg forces the Army of Northern Virginia and the Confederate government to abandon Richmond, Virginia.
An improving economy will not reach everyone simultaneously, as quickly as one would hope, or even feel like it has arrived after it does.
Wisconsin’s homelessness population is on the rise for the first time in a decade, a trend that will likely grow as federal pandemic-relief programs end and living costs continue to surge.
The trend, in a report by Wisconsin Policy Forum released Wednesday, appears to be driven by the economic hardships and layoffs that have become synonymous with the pandemic, and consequently, the jump in housing costs in the pandemic’s aftermath.
COVID-19 relief dollars managed to head off the pandemic’s impact on Wisconsin’s homeless rate, but that quickly changed when relief dollars expired and eviction moratoriums lifted, said Don Cramer, the Wisconsin Policy Forum researcher who authored Wednesday’s report.
….
That translated to a 13% increase in Wisconsin’s homelessness rate between 2021 and 2022, and another 2% increase between 2022 and 2023. To put this into perspective, 6,055 Wisconsinites were registered as homeless in 2014, but by 2021, that number had fallen to 4,237 — a 30% drop. As of 2023, Wisconsin reported 4,861 homeless individuals.
“The lowest (homeless) numbers in 2021 happened when the state got the most funding from relief dollars,” Cramer said. “When different aids start falling away, we see higher homeless rates.”
While Cramer attributes success against homelessness to federal and state relief funds, this approach (however successful, even temporarily) was destined to be limited by the availability of those funds. A funding program may be vital during an immediate crisis but insufficient afterward. To call upon economic growth to uplift the homeless, however, is to call upon powerful forces that do not reach everyone, or for those with several maladies, will not reach them without intermediate growth among supportive professions and sectors of the economy. (A person who needs medical care, even after finding permanent accommodations, needs an economy that produces doctors and the means to reach them. Productive and prosperous economies create diverse opportunities beyond mere employment for one population or within one sector.)
Consumer sentiment, a smaller survey [as against consumer confidence] conducted by the University of Michigan, also gauges people’s sense of the economy overall, the labor market, and how they see inflation. On Thursday, U.S. consumer sentiment jumped to 79.4 from 76.9 in February and 62 a year earlier, making this its highest level since July 2021.
Joanne Hsu, director of the survey, said in the report that this number is an indication that consumers believe the economy is “holding steady.”
“As the election season progresses and debates over economic policy become more salient for consumers, their outlook for the economy could become more volatile in the months ahead,” she added.
Kevin Kliesen, business economist and research officer at the Federal Reserve Bank of St. Louis, said consumer confidence and consumer sentiment are still far below pre-pandemic levels and that it’s a puzzle as to why when the economy has “been growing fairly strongly” in the past year and a half. But like Pancotti, he added that high prices at the store compared to pre-pandemic prices may be playing a role in those measures.
“If you’re like me, you look at something, and you go, ‘Oh my gosh. I remember when it was so much less before the pandemic.’ So I think that calls into question, probably, a lot of people’s perceptions of the overall state of the economy and importantly their consumer finances,” he said.
There’s sure to be a debate about whether perceptions of particular costs, for example, accurately reflect consumers’ general, measurable gains of the last few years. It may be puzzling that consumer confidence and sentiment are lower than an economist might expect, but it’s sensible to say that there’s likely to be a cause, important to those with low confidence and sentiments.
Perhaps higher prices, perhaps something else, but unlikely either magic or delusion.
Sunday in Whitewater will be sunny with a high of 45. Sunrise is 7:12 and sunset 6:56 for 11h 43m 55s of daytime. The moon is new with 0.1 percent of its visible disk illuminated.
On this day in 241 BC, at the Battle of the Aegates, the Romans sink the Carthaginian fleet bringing the First Punic War to an end.
Wisconsin’s employment and jobs picture got off to a strong start in January, setting records in the number of jobs, the number of private sector jobs, the number of construction jobs as well as overall employment, the state labor department reported Thursday.
“We’ve been setting new employment records most of all last year and continued into this year,” said Dennis Winters, chief economist at the Department of Workforce Development (DWD), in a briefing Thursday on the January numbers. Looking ahead, there’s “nothing, that seems to us, that’s going to turn things down much.”
Data from the federal Bureau of Labor Statistics (BLS) projected that nearly 3.05 million Wisconsin residents were employed in January. The figure is derived from a federal government household survey.
From a separate survey that asks employers how many jobs they have on their payroll, the BLS projected there were nearly 3.03 million jobs in Wisconsin, including more than 2.6 million private sector jobs and 140,000 construction jobs.
All four data points marked new records for the state, Winters said.
Tuesday in Whitewater will be mostly sunny with a high of 37. Sunrise is 6:53 and sunset 5:24 for 10h 30m 15sof daytime. The moon is a waxing crescent with 18.6% of its visible disk illuminated.
The Whitewater School Board’s Calendar Committee meets at 4 PM, and Whitewater’s Public Works Committee meets at6 PM.
On this day in 1689, William and Mary are proclaimed co-rulers of England.
Prices cooled further in January, offering the latest sign that inflation has eased significantly since its pandemic-era surge but still hovers above what policymakers consider normal.
Data from the Bureau of Labor Statistics on Tuesday morning showed prices rose 3.1 percent in January, compared with the year before. They also rose 0.3 percent compared with the previous month.
The report comes as the Federal Reserve presseson in its fight to tame high prices — but the central bank alreadyhas plenty of success in the rearview mirror. After sprinting to hoist interest rates in 2022 and 2023, officials are entering a new phase: cutting borrowing costs multiple times this year. The message is that even though inflation hasn’t settled all the way down, the economy is stable enough for the Fed to take its foot off the brake.
Groundhog Day in Whitewater will be cloudy with a high of 41. Sunrise is 7:07 and sunset 5:09 for 10h 01m 59s of daytime. The moon is a waning gibbous with 53.7% of its visible disk illuminated.
By Detroit Publishing Co. – This image is available from the United States Library of Congress’s Prints and Photographs division under the digital ID det.4a24546. Commons: Licensing., Public Domain, https://commons.wikimedia.org/w/index.php?curid=30037697
The United States delivered a much bigger-than-expected batch of jobs last month, adding further evidence that the economy still has plenty of steam.
Employers added 353,000 jobs in January, the Labor Department reported on Friday, and the unemployment rate remained at 3.7 percent.
After the loss of 14 percent of the nation’s jobs early in the Covid-19 pandemic, the labor market’s endurance for more than three years has surprised economists, who expected factors including the Federal Reserve’s interest rate increases to slow hiring more sharply. The strong data on Friday is likely to reinforce the Fed’s patience in beginning to cut rates.
“There’s layoffs happening, but workers are able to find new positions,” said Sara Rutledge, an independent economics consultant. “It’s almost like a ‘pinch me’ scenario.”
Ms. Rutledge helped tabulate the National Association for Business Economics’ latest member survey, which found increasing optimism that the country would avoid a recession — matching a turnaround in measures of consumer confidence as inflation has eased.
The growth in January was all the more impressive on top of upward revisions to the prior two months, which brought the monthly average job gain in 2023 to 255,000. Professional and business services accelerated to pile on 74,000 jobs, while health care added 70,000. The only major sector to lose jobs was mining and logging.
The bumper crop of added jobs, nearly twice what forecasters had expected, mirrors the similarly surprising strength in gross domestic product measurements for the fourth quarter of 2023.
Now’s the time for communities across America to take advantage of this favorable environment. Now’s the time for Whitewater.
Thursday in Whitewater will be cloudy with a high of 39. Sunrise is 7:17 and sunset 4:59 for 9h 43m 36s of daytime. The moon is full with 100% of its visible disk illuminated.
Whitewater’s Lakes Advisory Committee meets at 5 PM and the Board of Zoning Appeals meets at 6 PM.
When the national economy is poor, it’s unlikely that Whitewater (having for years lagged the national economy) would do well. When the Wisconsin economy is poor, it’s unlikely that Whitewater (having for years lagged the state economy) would do well. Even when the national economy was doing well years ago, Whitewater was behind.
As it turns out, happily, the state and national economies are again doing well. Those favorable economic conditions are an opportunity for Whitewater — now’s the time to join in America’s and Wisconsin’s achievements. Of those national economic gains, there’s more good news from across a continent with 340 million people. Ben Casselman reports U.S. Economy Grew at 3.3% Rate in Latest Quarter (‘The increase in gross domestic product, while slower than in the previous period, showed the resilience of the recovery from the pandemic’s upheaval’):
The U.S. economy continued to grow at a healthy pace at the end of 2023, capping a year in which unemployment remained low, inflation cooled and a widely predicted recession never materialized.
Gross domestic product, adjusted for inflation, grew at a 3.3 percent annual rate in the fourth quarter, the Commerce Department said on Thursday. That was down from the 4.9 percent rate in the third quarter but easily topped forecasters’ expectations and showed the resilience of the recovery from the pandemic’s economic upheaval.
The latest reading is preliminary and may be revised in the months ahead.
Forecasters entered 2023 expecting the Federal Reserve’s aggressive campaign of interest-rate increases to push the economy into reverse. Instead, growth accelerated: For the full year, measured from the end of 2022 to the end of 2023, G.D.P. grew 3.1 percent, up from less than 1 percent the year before and faster than in any of the five years preceding the pandemic. (A different measure, based on average output over the full year, showed annual growth of 2.5 percent in 2023.)
