BLS Data – Total Nonfarm Jobs Hit Record High for Second Month
The Department of Workforce Development (DWD) today released the U.S. Bureau of Labor Statistics (BLS) job totals for December, which showed Wisconsin’s total nonfarm jobs hit a record high of 3,026,500 during the month. This total is 42,700 more jobs than a year ago and an increase of 4,800 over the previous month.
Preliminary employment estimates for December 2023 showed Wisconsin’s seasonally adjusted unemployment rate held steady at 3.3%. The labor force increased by 2,200 workers over the month, and employment also increased by 1,700 over the month. The state’s total labor force participation rate remained at 65.9% while the national labor force participation rate fell to 62.5% in December.
- Place of Residence Data: Wisconsin’s unemployment rate held steady at 3.3% in December, remaining 0.4% lower than the national unemployment rate, which was 3.7% in December. The number of unemployed people increased 500 over the month for a total of 104,700 unemployed. The labor force gained 2,200 workers over the month and increased by 80,000 workers over the year for a total of 3,148,600 workers. The number of people employed also increased by 1,700 over the month for an annual increase of 67,200.
- Place of Work Data: Total nonfarm jobs increased by 4,800 over the month and 42,700 over the year to a record-high of 3,026,500 jobs in December. Private sector jobs increased by 1,700 over the month and 34,400 over the year. Healthcare and Social Assistance added 12,400 more jobs over the year. Construction jobs increased by 1,000 over the month and by 5,200 over the year.
“Wisconsin has broken its record for total nonfarm jobs for the second consecutive month, concluding a remarkable year of performance,” said DWD Secretary Amy Pechacek. “Overall, Wisconsin’s labor market economy remains strong as we head into 2024. To sustain the state’s historical economic growth and to provide support to working families and employers, we must continue to invest in new talent attraction, retention, and training strategies.”
Today’s full report can be viewed on DWD’s premier source for labor market information, WisConomy.com.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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