Employment Hits Record High

Aug 16

BLS Data: Wisconsin Employment Hits Record High for Third Consecutive Month

MADISON – The Wisconsin Department of Workforce Development (DWD) announced a new record high for employment during July 2024, according to preliminary estimates from the U.S. Bureau of Labor Statistics. This is the third consecutive monthly record for state employment, highlighting Wisconsin's record- breaking economic performance.

Preliminary employment estimates for July 2024 showed Wisconsin's seasonally adjusted unemployment rate was 3.0%, which is 1.3 percentage points below the national unemployment rate of 4.3%. The state's labor force participation rate held steady at 65.5% in July while the national rate was 62.7%.

Place of Residence Data: Wisconsin's unemployment rate was 3.0% in July, 1.3 percentage points below the national rate of 4.3%. Wisconsin's labor force increased 2,800 over the month and increased 1,800 over the year. The number of people employed increased 1,300 over the month to a record-high 3,049,700 employed.
Place of Work Data: Total nonfarm jobs decreased 6,500 over the month and increased 25,700 over the year to 3,035,100 jobs. Private sector jobs decreased 8,500 over the month and increased 17,900 over the year to 2,625,700 private jobs.

View Wisconsin Labor Force Summary at https://dwd.wisconsin.gov/press/unemployment/2024/240815-july-state.pdf

Beth Norris