Wisconsin added 38,500 private sector jobs from July 2017 to July 2018, with 21,300 jobs added in the state's manufacturing industry during the same time period, according to the Department of Workforce Development.
The job numbers are based on the Bureau of Labor Statistics (BLS) revisions for June 2018 and preliminary estimates for July covering the employment and job statistics for the state of Wisconsin.
The state’s historically low unemployment rate remained at 2.9 percent, the sixth consecutive month that Wisconsin's unemployment rate remained below 3 percent. Prior to 2018, Wisconsin never had a seasonally-adjusted unemployment rate below 3 percent. The state's labor force participation rate also remained at 68.9 percent.
The state added 9,100 private sector jobs and 8,700 total non-farm jobs from June 2018 to July. One-month gains were significant in durable goods (2,400) and Health Care and Social Assistance (2,800).
In brief, the seasonally adjusted estimates show:
• Place of residence data: Wisconsin’s preliminary seasonally adjusted unemployment rate remained at 2.9 percent in July, up slightly from the record low of 2.8 percent experienced in April and May of 2018. Wisconsin's labor force participation rate remained at 68.9 percent in July, 6 percentage points higher than the national rate.
• Place of work data: From July 2017 to July 2018, Wisconsin added 38,500 private-sector and 21,300 manufacturing jobs, as defined by BLS. Wisconsin also added 9,100 private-sector jobs, 8,700 total non-farm jobs and 2,500 manufacturing jobs from this June to July. Other indicators of the state of Wisconsin's economy include:
• Initial unemployment insurance 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 upgraded the state's credit rating, noting that “The stable outlook reflects the expectation that the state will experience moderate economic growth and will continue its prudent fiscal management practices.” The full report can be viewed on WisConomy.com