The metropolitan Milwaukee area averaged 855,000 nonfarm jobs in October, up 2.3 percent over October 2013, which outpaces both state (1.2 percent) and national (2 percent) job gains over the same time period, according to a new report from the Metropolitan Milwaukee Association of Commerce.
The job growth equated to a net gain of 19,200 jobs, according to the October Economic Trends report.
Among major industry sectors in the area, six out of 10 saw job increases over the 12 months ending in October, the report said. The construction, mining and natural resource sector grew employment by 11.9 percent year-over-year, the largest increase, while the government sector declined 1.2 percent, the largest decrease.
Metro Milwaukee’s seasonally unadjusted unemployment rate fell to 5.3 percent in October, which was above the 4.6 percent rate statewide but below the 5.5 percent rate nationwide.
In addition, the Milwaukee area’s new unemployment compensation claims fell 25.7 percent, to 4,730. The total number of unemployed was down 19.2 percent, to 43,000, according to the MMAC.
