MILWAUKEE — Economic indicators
analyzed by the Metropolitan Milwaukee Association of Commerce
declined during the month of October, a report Wednesday showed.
According to the data, metro area economic indicators moved lower in
October as 11 of 22 MMAC indicators improved from year-ago levels.
In September, 13 of the indicators were positive.
“At present, the number of positive indicators in aggregate is at
its lowest point since early 2012,” said Bret Mayborne, the MMAC’s
economic research director, in a statement. “Much of this overall
weakness can be attributed to a weaker year-over-year employment
trend across a number of major industry sectors in the metro area.”
Highlights of the report include:
■ The overall job trend continued to show lackluster growth. Nonfarm
employment in the metro area rose at a 0.8 percent rate, marking the
third consecutive month and the fifth time in six months that metro
area year-over-year growth failed to reach 1 percent or higher.
■ Five of 10 major industry sectors registered year-over-year job
increases in October. The construction, mining & natural resource
sector posted the largest gain — up 4.6 percent vs. year-ago levels.
Conversely, five of 10 major industry sectors posted employment
declines with the 1.8 percent drop in the trade, transportation &
utilities sector ranking as the biggest percentage fall.
■ Both area housing and real estate indicators posted declines in
October. Metro area existing home sales fell at a 8.5 percent pace
(vs. year-ago levels) while mortgages recorded in Milwaukee County
dropped 10.8 percent.