Updated employment data show the state created more seasonally adjusted total nonfarm and private-sector jobs in April than first reported, as the numbers were revised upward by 1,700 and 1,900, respectively.
Meanwhile, preliminary employment data indicates the state created 900 new private-sector jobs in May, according to U.S. Bureau of Labor Statistics data released today by the Wisconsin Department of Workforce Development. This preliminary figure is subject to revision in the following months as more data becomes available.
In addition, the state’s unemployment rate also ticked up slightly, from 6.7% to 6.8%, which compares favorably to the national unemployment rate of 8.2%. While the unemployment rate increased, there was an increase in the state’s labor force participation rate, which rose one-tenth of a point to 68.5%. According to preliminary data, there were 3,075,400 people in Wisconsin’s civilian labor force, an increase of 6,300 over April’s revised figure. An increase in labor force participation shows that a greater share of Wisconsin’s population is in the labor force either working or actively seeking employment.
Based on seasonally adjusted preliminary data, there are 2,866,800 people employed, and 208,600 people unemployed in Wisconsin.
Among Wisconsin’s key industry sectors, preliminary May data indicates the following:
• Construction employment stood at 83,200, down 3,300 from April’s revised figure.
• Manufacturing employment totals 451,600, up 3,900 from April’s revised figure.
• Total government employment is 409,500, up 1,700 over April’s revised number. Local government employment increased by 3,800, while state government jobs decreased by 1,900 and federal government employment dropped by 200.
The BLS data is based on a monthly survey of approximately 5,500 Wisconsin employers, which represents just 3.5%. As more employers are surveyed, the figures are revised.
The DWD also noted that Department of Revenue individual income tax revenue collections are up by more than 4.3% through May (FY 2012), and the Department of Financial Institutions reports that new business formation is up this year by 11.7%.
