Scott Walker, Governor
Raymond Allen, 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
Monday, March 12, 2018
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
BLS Data: Wisconsin Adds 8,000 Private Sector Jobs, 2,000 Manufacturing Jobs Over the Month
Latest monthly data also shows an addition of 9,200 total non-farm jobs
MADISON – Today, the Department of Workforce Development (DWD) released the Bureau of Labor Statistics (BLS) revisions for December 2017 and preliminary estimates for January 2018 covering the employment and job statistics for the state of Wisconsin. The data shows that Wisconsin added 9,200 total non-farm jobs and 8,000 private sector jobs, with 2,000 jobs being added in the manufacturing sector, over the month. Wisconsin's unemployment rate in January was 3.1 percent, a .1 percent decrease from December's revised rate of 3.2 percent.
In brief, the seasonally adjusted estimates also show:
- Place of Work Data: Based on preliminary data, Wisconsin added 8,000 private sector jobs from December 2017 to January 2018, including 2,000 manufacturing jobs. The state also added a significant 9,000 manufacturing jobs from January 2017 to January 2018. Over the past three months, private sector employment is up 16,400 in Wisconsin, a significant change according to BLS. After revisions, the latest monthly data shows that Wisconsin added 23,300 private sector jobs over the year.
- Place of Residence Data: Wisconsin's preliminary seasonally adjusted rate for January 2018 was 3.1 percent, down .1 percent from December's revised rate of 3.2 percent and a full percentage point lower than the national rate of 4.1 percent. January's unemployment rate of 3.1 percent is a new record for any January for the history of the series, and the lowest rate on record for all months since October 1999. Wisconsin also set a new all-time record for the number of people employed, with 3,060,900 people employed in January 2018, according to the preliminary data. Wisconsin's total civilian labor force set a new record high for the month of January with a total of 3,157,600 individuals currently in the labor force.
BLS also recently published "benchmarked" estimates for the monthly employment and unemployment data sets covering 2017 and prior years. The benchmarked data shows that Wisconsin added a total of 233,300 private sector jobs from December 2010 through January 2018. The benchmarking process is designed to bring the sample-based series into closer alignment with the actual job counts from the Quarterly Census of Employment and Wages (QCEW).
Secretary Allen issued the following statement about today's report:
"Wisconsin workers are benefitting from a strong labor market, demonstrated by our record low unemployment rate for the month of January, and a new all-time high for number of individuals employed in the state of Wisconsin," Secretary Allen said. "Additionally, the latest monthly jobs data shows strong private sector job growth with the state adding 8,000 private sector jobs over the month, buoyed by family supporting industries like manufacturing and construction."
The BLS uses three data sets to measure employment and unemployment:
- Current Employment Statistics (CES): compiled from a monthly survey sent to about 5,500 employers (3.5% of Wisconsin employers). CES data has been shown to be subject to significant revision.
- Local Area Unemployment Statistics (LAUS): compiled from a monthly survey of 985 households and unemployment insurance claims. Measures the labor force, employment, unemployment, and the unemployment rate.
- Quarterly Census of Employment and Wages (QCEW): compiled on a quarterly basis from Unemployment Insurance records from some 96 percent of Wisconsin business establishments. Considered by most economists to be the most accurate measure of jobs, the QCEW includes data from almost all employers in Wisconsin.
Other indicators of the state of Wisconsin's economy include:
- Initial UI claims ended 2017 at their lowest level in the last 30 years.
- Continuing unemployment claims ended 2017 at their lowest level since 1973.
- Moody's investor Service recently upgraded the state's credit rating, nothing that "(T)he stable outlook reflects the expectation that the state will experience moderate economic growth and will continue its prudent fiscal management practices."
The data included in today's release can be accessed online