Metro Milwaukee economic indicators sagged in April

Fewest positive since early 2012

Economic indicators

Last updated on July 2nd, 2019 at 09:07 am

Only 11 of the 23 metro Milwaukee economic indicators tracked by the Metropolitan Milwaukee Association of Commerce posted year-over-year gains in April, the lowest number since January of 2012, according to the latest monthly report from the MMAC.

The number of improved indicators was also down from 15 that posted year-over-year gains in March.

Economic indicators

And some of the economic indicators that grew only did so modestly. Nonfarm employment in the metro area posted its 67th consecutive month of growth in April, but the growth of 0.6 percent from a year ago is the slowest since July of 2012.

“Milwaukee’s jobs trends has failed to establish a firm footing over 2016’s first four months with a number of major industry sectors posting  year-over-year employment declines,” said Bret Mayborne, the MMAC’s economic research director.

Metro area job totals averaged 855,200, a net gain of 5,100 jobs compared to a year ago. Only four of 10 major industry sectors registered year-over-year job increases in April. The construction, mining and natural resources sector posted the largest gain of 3.9 percent. The financial services sector had the biggest job decline in the region in April, down 4.6 percent from a year ago.

The number of passengers using Mitchell International Airport was 558,643 in April, down 4.7 percent from a year ago.

New-car registrations in the metro area were down 35 percent in April to 2,008.

On the positive side, home sales were up 17.3 percent in April. The area’s unemployment rate fell to 4.6 percent, down from 4.8 percent a year ago.

Read more economic data reports on the BizTracker page.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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