MILWAUKEE — Although
unemployment remains very low in metro Milwaukee, business activity
indicators measured by the Metropolitan Milwaukee Association of
Commerce remain sluggish.
According to a release from the MMAC, 10 of 23 metro area business
activity indicators registered improvement in October, which is
unchanged from September.
“The number of improvements remains sluggish in total, but metro
area job totals reached an all-time high in October and overall job
growth posted its highest year-over-year gain since April 2016,”
said Bret Mayborne, economic research director for the MMAC. “On the
downside, manufacturing indicators tracked by the MMAC continue to
The MMAC report indicated that nonfarm employment in the metro area
averaged 890,800 in October, a new record high, surpassing the
previous high of 889,500 in June. In addition, October’s 1.3%
year-over-year growth rate was the strongest job gain posted in
three and one-half years (since April 2016).
Five of 10 major industry sectors recorded year-over-year job
increases in October, according to the report. The “other services”
sector posted October’s largest employment gain, up 4.4%. Five major
sectors also registered declines with the financial activities
sector recording the largest drop — down 1.9%.
Manufacturing related indicators each registered year-over-year
declines in October.
Manufacturing job levels averaged 116,400, the lowest monthly
employment average posted in this industry in over eight years
(since May 2011).