FOR IMMEDIATE RELEASE
Monday, August 18, 2014
CONTACT: DWD Communications, 608-266-2722
DWD Secretary Statement on BLS' July 2014 State-by-State Employment Report
Wisconsin's 5.8% unemployment rate year-over-year decline 'significant,' below US 6.2% rate
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 declined from 6.8 to 5.8 percent, a full percentage point.
In addition, the data show Wisconsin year over year gains of 36,100 private sector jobs ranked 20th highest nationally in number of jobs gained. Wisconsin ranked higher in manufacturing job growth, 5th nationally in year over year growth and growth since December 2010 in production jobs, which on average pay $10,000 more annually than all Wisconsin jobs.
"Wisconsin continues to show strong, steady growth, with significant 12-month gains in private sector jobs overall and family-supporting manufacturing jobs in particular," Secretary Newson said. "On a year-over-year basis, the monthly estimates indicate Wisconsin added 36,100 private sector jobs and 9,300 manufacturing jobs, both statistically significant. In comparing net gains over the year, our state ranks 20th in private sector job growth and 5th in manufacturing job growth."
Highlights of today's Bureau of Labor Statistics (BLS) report of state-by-state employment and unemployment estimates include:
- Wisconsin's unemployment rate declined a full percentage point between July 2013 and July 2014, from 6.8 percent to 5.8 percent, and below the national rate of 6.2 percent and below other leading manufacturing states of Indiana and Michigan.
- Wisconsin has a statistically significant private-sector job (Current Employment Statistics) increase between July 2013 and June 2014 at 36,100, which ranked 20rd nationally, improving on its 23rd place ranking in the previous BLS report.
- Wisconsin had a statistically significant total nonfarm job (CES) increase between July 2013 and July 2014 at 45,000, which ranked 17th nationally in net change.
- Wisconsin had a statistically significant manufacturing job (CES) increase between July 2013 and July 2014 at 9,300, which ranked 5th nationally and above Illinois, Iowa, and Minnesota.
Other indicators that help illustrate the state of Wisconsin’s economy include:
- According to monthly estimates, Wisconsin has created 117,100 private sector jobs since December 2010.
- Initial weekly Unemployment Insurance (UI) claims for the first 31 weeks of 2014 dropped to the lowest point since 2000, and the annual average weekly UI claims are at their lowest levels since 2000.
- According to the most recent personal income report, Wisconsin's 2013 per capita personal income growth was seventh highest in the nation.
- Department of Financial Institutions new business formation: up 5.7 percent during the first six months of 2014 compared to the same period in 2013.
The BLS' full state-by-state estimates for June 2014 are available online.