— The economy in metro Milwaukee rebounded slightly in
July, according to the Metropolitan Milwaukee Association
of Commerce, which reported that 12 of the 22 available
economic indicators improved compared to a year ago.
aggregate performance comes after less than half of the
indicators tracked by the MMAC pointed upward in three of
the previous four months,” said Bret Mayborne, economic
research director for the MMAC, in a statement.
overall trend in jobs has improved through 2019’s first
seven months with year-over-year gains reaching its
strongest pace in the year to date,” Mayborne said.
of the report include:
Non-farm employment averaged 885,400 in July, a 1.1%
increase compared to year-ago levels. July’s gain
follows the 0.9% gain posted in June (vs. June 2018) and
ranks higher than the 0.7% average increase posted over
2019’s first seven months.
July employment gains were posted in six of 10 major
industry sectors. The leisure and hospitality sector
registered the strongest year-over-year increase (up 4.9%)
while the information sector (down 2.2%) recorded the
For the second time in three months, both housing and real
estate indicators tracked by the MMAC pointed upward.
Existing home sales (up 4.6%) and mortgages recorded in
Milwaukee County (up 16.2%) rose versus year-ago levels.
Local unemployment indicators posted mixed results. New
unemployment compensation claims fell 6.7% vs. year-ago
levels, but the number of unemployed rose 5.9% to 32,100.
The higher number of unemployed contributed to a 0.2
percentage point rise in metro Milwaukee’s seasonally
unadjusted unemployment rate. The 3.6% rate posted one
year ago to the current 3.8%. July’s local unemployment
rate ranks higher than the state's 3.4% rate but below the
nation’s 4.0% figure.