Scott Walker, Governor
Reginald J. Newson, Secretary
Department of Workforce Development
201 E. Washington Avenue
P.O. Box 7946
Madison, WI 53707-7946
Telephone: (608) 266-3131
Fax: (608) 266-1784
FOR IMMEDIATE RELEASE
Friday, December 19, 2014
CONTACT: DWD Communications, 608-266-2722
On the Web: http://dwd.wisconsin.gov/dwd/news.htm
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Wisconsin Ranks 1st in the Midwest for Private Sector Growth Rate in November
State's gain of 16,500 private-sector jobs ranks 5th in the nation for number of jobs added
MADISON – Wisconsin ranks first among Midwest states in rate of job growth for the month of November, according to today's release of U.S. Bureau of Labor Statistics' (BLS) state-by-state employment and unemployment estimates. When looking at number of jobs added, Wisconsin ranked 5th in the nation and second in the Midwest with 16,500 jobs created. The series also indicates the state has fully recovered all private-sector jobs lost during the deep, national recession.
"Wisconsin's private sector is moving Wisconsin's economy forward as we put the hard times of the Great Recession further behind us," Department of Workforce Development (DWD) Secretary Newson said. "Last month we led the Midwest in the rate of private sector job growth, and we were second highest in the Midwest in the rate of year-over-year private sector job growth. It comes as no surprise that Forbes magazine recently ranked Wisconsin as best in the Midwest for future economic growth."
Highlights of today's BLS release of monthly employment and unemployment estimates for all states include:
- Wisconsin ranked first in the Midwest and ninth in the country in rate of private sector job growth from October to November. The year-over-year growth rate was second in the Midwest and 19th in the country.
- When looking at number of jobs added, Wisconsin ranked 5th in the nation and second in the Midwest with 16,500 jobs created over the month; the 12-month addition of 51,000 private sector jobs ranked second in the Midwest and 12th highest in the country in terms of jobs added.
- Wisconsin's unemployment rate decline to 5.2 percent from 5.4 percent in October was statistically significant, and the November rate was significantly lower than the national rate of 5.8 percent. The state's 12-month unemployment rate decline from 6.4 percent to 5.2 percent was also significant.
Other indicators that help illustrate the state of Wisconsin’s economy include:
- Average Initial Unemployment Insurance (UI) claims for the first 50 weeks of 2014 dropped to the lowest point since 1999.
- Department of Financial Institutions new business formation: up 5.1 percent during the eleven months of 2014 compared to the same period in 2013.
- Wisconsin's agricultural exports for the first 9 months of the year show a 17% increase compared to las year, ranking 12th among U.S. states.
The BLS' full state-by-state estimates for September 2014 are available online.