The Department of Workforce Development released the U.S. Bureau of Labor Statistics (BLS) preliminary estimates for May 2024, which showed Wisconsin’s employment hit a record high of 3,048,000 during the month. This is 6,500 more people employed than a year ago.
Preliminary employment estimates for May 2024 showed Wisconsin’s seasonally adjusted unemployment rate was 2.9%, which is more than a full percentage point below the national unemployment rate of 4.0% in May. The state’s labor force participation rate held steady at 65.6% in May, while the national rate fell to 62.5%.
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Place of residence data: Wisconsin’s unemployment rate remained at 2.9% in May, 1.1 percentage points below the national rate of 4.0%. The labor force gained 900 workers over the month for a total of 3,140,500 workers. The number of people employed hit a new high in May, with a total of 3,048,000 employed. DWD last announced a record number of people employed in March 2024.
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Place of work data: Total nonfarm jobs decreased 1,500 over the month and increased 28,700 over the year to a total of 3,037,400 jobs. Private sector jobs added 2,300 over the month, hitting a record high 2,630,300 jobs. DWD last announced a private sector nonfarm job record in March 2024.
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The data included in the news release can be accessed at Wisconomy.com.
