State added 9,500 private sector jobs in October

Unemployment rate down for first time since May

Last updated on July 2nd, 2019 at 09:08 am

Wisconsin’s unemployment rate dipped for the first time since May and the state added 9,500 private sector jobs in October, according to data released by the Department of Workforce Development.

The preliminary, seasonally adjusted private job figure is the strongest month-over-month gain since January’s 10,400 job increase. It is also the second highest since Gov. Scott Walker took office in 2011.

The state added 37,800 private sector jobs during the first 10 months of the year, according to the data released Thursday.

An increase of 4,300 in professional and business services and a 3,400 job increase in manufacturing were the driving factors in the increase.

Jobs in trade were down 1,700, the financial activities sector was down 1,500 and construction was down 900, offsetting some of the increase.

Total nonfarm payrolls were up 10,500 as state government payrolls increased 2,300, local governments were down 1,200 and the federal government down 100.

The state’s unemployment rate dropped one-tenth to 3.4 percent. After plummeting during the first few months of the year to near record lows, the unemployment rate had been inching higher since May.

Wisconsin labor force participation rate was unchanged at 68.8 percent.

September’s private sector increase of 5,900 private sector jobs was also revised upward by 1,200 jobs.

Read more economic data reports at the BizTracker page.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

No posts to display