The number of Wisconsin employers having trouble hiring reached its lowest level in more than a decade, according to the latest
Wisconsin Manufacturers & Commerce employer survey.
WMC polled 153 employers made up of a representative sample of its membership as part of its twice-per-year survey.
The survey found 63% of employers say they are having trouble hiring employees, down from 68% in the summer survey and 72% a year ago. It is the lowest level since the summer of 2014 when 53% said they were having trouble hiring.
The percentage finding hiring difficult has been trending down since 2021 and 2022 when it was in the mid-to-high 80s.
Wisconsin’s unemployment rate has ranged from 2.9% to 3.4% since late 2021 – it is currently 2.9%. The state’s labor force participation rate has been between 65.2% and 66% over the same period and is currently 65.8%. The average hourly wage across the private sector in the state was $29.15 at the end of 2021. It was $33.64 as of November 2024, a 15.4% increase.
The state has added 91,000 private sector jobs since the end of 2021, a 3.6% increase.
The WMC survey found 56% of employers plan to increase their total number employees over the next six months. In the summer survey, just 39% were planning to increase their headcount.
Respondents were also more optimistic about the state of the economy. In the current survey, 26% said the economy was strong or very strong, up from 23% in the summer. The current survey also found 18% rated the U.S. economy as strong, up from 13%.
At both the Wisconsin and U.S. levels, a majority of respondents rated the current economic strength as moderate.
The optimism was even more pronounced looking ahead to the next six months. In the current survey, 63% of respondents said the Wisconsin economy would see moderate or good growth over the next six months, compared to 39% with those views over the summer.
As for the national economy, 75% expect moderate or good growth over the next six months, compared to 34% with those views over the summer.
