The Department of Workforce Development reports the state’s unemployment rate hit 3.0 percent, which is lower than the national rate of 4.3 percent. The unemployment rate, based on preliminary estimates from the U.S. Department of Labor, is the third consecutive record for state employment, highlighting Wisconsin’s recording breaking economic performance, according to the Department of Workforce Development. Meanwhile, the state’s labor force participation rate held steady at 65.5 percent in July, greater than the national average rate at 62.7 percent.
The report also noted the number of people employed increased by 1300 over the previous month, however, nonfarm jobs decreased by 6,500 over the previous month, and there were 8500 fewer private sector jobs over the previous month.
The year to date numbers, however, show there are a record high number of people employed, and both the nonfarm and private job sector continue to show strong job growth over the previous year.
