Department of Workforce Development
201 E. Washington Avenue
P.O. Box 7946
Madison, WI 53707-7946
Telephone: (608) 266-3131
Fax: (608) 266-1784
Scott Walker, Governor
Reginald J. Newson, Secretary
FOR IMMEDIATE RELEASE
Wednesday, June 20, 2014
CONTACT: DWD Communications, 608-266-2722
On the Web: http://dwd.wisconsin.gov/dwd/news.htm
On Facebook: http://www.facebook.com/WIWorkforce
On Twitter: @WIWorkforce
DWD Secretary Statement on BLS' May 2014 State-by-State Employment Report
Wisconsin's 5.7% unemployment rate year-over-year decrease 'significant' and below US rate of
6.3%; state adds an estimated 38,100 private sector jobs over 12 months
MADISON – Wisconsin Department of Workforce Development (DWD) Secretary Reggie Newson today released the following statement on the latest U.S. Bureau of Labor Statistics (BLS) monthly rankings of employment and unemployment estimates. The report noted Wisconsin’s year-over-year unemployment rate drop to 5.7 percent rate was “statistically significant." In addition, the data show Wisconsin's gain of 38,100 private sector jobs year over year was also significant and ranked 18th highest nationally in number of jobs gained.
Wisconsin's unemployment rate has dropped for 10 straight months and, at 5.7 percent, is at its lowest point since October 2008 in addition to being below the national rate," Secretary Newson said. "In addition, the monthly estimates indicate our state added 38,100 private sector jobs year over year, posting the 18th highest gain nationally in number of private sector jobs added. Over the past year, our state's economy has grown and created thousands of new jobs for working families, providing additional indicators that we are headed in the right direction."
Highlights of today's Bureau of Labor Statistics (BLS) report of state-by-state employment and unemployment estimates include:
- Wisconsin's unemployment rate had a statistically significant decrease between May 2013 and May 2014. (2014 5.7% v. 2013 6.8%). Wisconsin's unemployment rate has fallen for 10 consecutive months.
- Wisconsin has a statistically significant private-sector job (Current Employment Statistics) increase between May 2013 and May 2014 at 38,100, which ranked 18th nationally.
- Wisconsin had a statistically significant total nonfarm job (CES) increase between May 2013 and May 2014 at 47,500, which ranked 14th nationally and the best of total nonfarm job growth rate of any neighboring state.
- Wisconsin had a statistically significant manufacturing job (CES) increase between May 2013 and May 2014 at 9,100, which ranked 5th nationally and above Illinois, Iowa, and Michigan.
Other indicators that help illustrate the state of Wisconsin’s economy include:
- According to monthly jobs estimates, more than 116,000 private sector jobs have been created across the state since December 2010.
- Wisconsin’s private sector job growth from December 2010 through December 2013 is the largest three-year December-to-December private sector job growth seen under a single Governor this century, according to actual job counts (Quarterly Census of Employment & Wages)
- Initial weekly Unemployment Insurance (UI) claims for the first 23 weeks of 2014 dropped to the lowest point since 2000, and the annual average weekly UI claims are at a 13-year low.
- Department of Financial Institutions new business formation: up 4.2 percent through May compared to the same period in 2013.
The BLS' full state-by-state estimates for May 2014 are available online.