WAUKESHA — Job numbers released Thursday indicated Wisconsin’s
unemployment rate is lower than the national rate and is also at
a post-Recession low for the state at 5.4 percent.
According to the announcement Thursday from the Department of
Workforce Development, which released the U.S. Bureau of Labor
Statistics, the preliminary seasonally adjusted unemployment
rate is 5.4 percent for October, down from 5.5 percent in
September and from 6.5 percent in October 2013. The 5.4 percent
rate marks a new post-Recession low for the state and is lower
than the national unemployment rate of 5.8 percent.
Wisconsin also gained jobs in the past year. DWD said there were
31,000 more private-sector jobs in October 2014 compared to
October 2013 and monthly gain of 4,000 private sector jobs.
According to a release from DWD later in the day Thursday,
Wisconsin added more than 35,000 private-sector jobs from June
2013 to June 2014 with more than 17,500 jobs added in three
major sectors: construction, professional services, and
“Wisconsin’s monthly unemployment declined again last month,
reaching 5.4 percent which is the lowest rate since October
2008. In addition, a revised September private sector job gain
of 8,100 made the month the strongest September in over a
decade,” said DWD Secretary Reggie Newson in a statement. “As
our economy grows stronger, we will continue to support
innovative talent development solutions that ensure job creators
have the skilled workers they need to stay competitive and move
our state forward.”
On Thursday, the DWD also released information about
private-sector wages, which the department said increased by 3.7
percent from June 2013 to June 2014.
In addition, initial weekly unemployment insurance claims for
the first 45 weeks of 2014 dropped to the lowest point since
2000, and the annual average weekly UI claims are at their
lowest levels since 2000.