Wisconsin ranks 38th in private sector job growth over the past year, according to data released today by the U.S. Bureau of Labor Statistics.
The BLS this morning released its Quarterly Census of Employment and Wages, which shows Wisconsin added 27,489 private sector jobs in the year from September 2013 to September 2014, a 1.2 percent increase.
The QCEW is compiled from unemployment insurance records, and includes 96 percent of Wisconsin businesses. It is considered by economists to be the most accurate measure of employment.
In addition, the Wisconsin Department of Workforce Development today released preliminary data that show Wisconsin’s unemployment rate fell to 4.8 percent in February, its lowest rate since July 2008.
The preliminary data is from the BLS’ monthly Current Employment Statistics report, which is subject to change.
The rate is below the 5 percent unemployment Wisconsin recorded in January and also the national unemployment rate of 5.5 percent in February.
The state added 13,600 private sector jobs from January to February, according to the preliminary data.
“Wisconsin’s unemployment rate dropped below 5 percent for the first time since 2008 while employment reached an all-time high,” said DWD Secretary Reggie Newson. “The state’s preliminary addition of 13,600 private sector jobs over the month is the best one-month jump since September 2003 according to the benchmarked series. And, with an upward revision of January’s month-over-month gain by 4,200 jobs, the monthly data series suggests we are off to a strong economic start in 2015.”