Preliminary data also show Wisconsin’s had the nation’s fifth-highest labor force participation rate in January
MADISON – Today, Department of Workforce Development (DWD) Secretary Ray Allen released the following statement on the state-by-state rankings released by the U.S. Bureau of Labor Statistics (BLS) showing that Wisconsin’s preliminary seasonally adjusted unemployment rate was 3.1 percent, down from a benchmarked 3.2 percent in December and tied for the 4th nationally in over-the-month change:
“Today’s release shows Wisconsin is off to a strong start in 2018, with an unemployment rate that declined faster than the vast majority of other states and monthly job gains that ranked in the top 10 of all states,” Secretary Allen said. “We encourage job seekers and employers to register on JobCenterofWisconsin.com today and take advantage of the many good-paying opportunities that are available.”
Highlights of today’s state-by-state rankings include:
- Wisconsin ranked 7th highest nationally in the one-month growth rate of total non-farm jobs, 10th highest for private-sector jobs and 8th highest in manufacturing jobs.
- Wisconsin’s one-month net change ranked 7th highest for total nonfarm jobs, 8th highest in private sector jobs and 4th highest in manufacturing jobs.
- Wisconsin’s unemployment rate of 3.1 percent ranked 10th lowest nationally and was 4th in month-over-month change.
- Wisconsin’s labor force participation rate of 68.5 percent ranked 5th highest nationally
- Wisconsin’s unemployment rate of 3.1 percent was significantly lower than the national rate of 4.1 percent, as defined by BLS.
Other indicators of the state of Wisconsin’s economy include:
- Initial UI claims ended 2017 at their lowest level in the last 30 years.
- Continuing unemployment claims ended 2017 at their lowest level since 1973.
- Moody’s investor Service recently upgraded the state’s credit rating, nothing that “(T)he stable outlook reflects the expectation that the state will experience moderate economic growth and will continue its prudent fiscal management practices.”
The data included in today’s release can be accessed online.