Metro Milwaukee economy remained healthy in March

MMAC reports shows same number of positive economic indicators as in February

Economic indicators

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

The metro Milwaukee economy remained strong in March with 17 of 23 economic indicators tracked by the Metropolitan Milwaukee Association of Commerce posting gains. That is the same number of positive economic indicators for the region in February, according to the MMAC.

Economic indicators

“The economic performance of the metro area has been consistently positive in recent months,” said Bret Mayborne, economic research director for the MMAC. “Nearly three quarters of local indicators tracked by the MMAC have pointed upward in five of the past six months, suggesting a stable and positive economic environment.”

Nonfarm employment was up 0.8 percent in March, compared to a year ago, to 866,800. The number of unemployed fell 13 percent.

The metro area’s 3.1 percent unemployment rate is down from 3.6 percent a year ago, and is lower than the state’s 3.2 percent rate and the nation’s 4.1 percent rate.

Six of 10 major industry sectors posted job gains in the region during March. Education and health services jobs were up 2.4 percent. Manufacturing jobs were up 2.1 percent. Construction, mining and natural resources employment was up 1.8 percent.

Information sector jobs dipped 5.8 percent. Financial activities jobs fell 3.3 percent.

Existing home sales in the metro area rose 6.4 percent in March.

But new car registrations fell 26.4 percent from a year ago.

Air passenger traffic at Mitchell International Airport was up 5 percent in March to 690,383.

Read more economic data reports at 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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