Wisconsin unemployment ticks down, currently a point lower than U.S. rate
MADISON, Wis. (WMTV) - New unemployment data from the Dept. of Workforce Development demonstrates the strength of the Wisconsin economy, both in terms of how it stacks up against national levels and how much it has bounced back from the depths of the COVID-19 pandemic.
“Wisconsin’s low unemployment and high labor force participation rates reflect a strong economic recovery as we leave this phase of the COVID-19 pandemic behind,” DWD Secretary-designee Amy Pechacek said.
DWD’s preliminary figures for January found the unemployment rate slipped a tenth of a point to an even 3 percent, a full point lower than the national rate. It’s also down 1.5 points from this time last year.
Nearly two-thirds of the Wisconsin eligible workforce (66.4%) is currently employed, more than four points higher than the 62.4 percent recorded nationwide.
While the numbers show growth, Pechacek noted the other side of the coin. She pointed out that many employers are having trouble hiring and retaining employees, and directed them to the agency’s Job Center of Wisconsin, which connects employers with skilled candidates.
Local unemployment figures, which have recently shown Madison near one percent, are due out next week.
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