New figures from the federal Bureau of Labor Statistics shows the state’s unemployment level continues to be at a record low, the Walker Administration announced Thursday. The announcement continues the pattern of low unemployment and high labor force participation for Wisconsin.
“The data showed that Wisconsin’s unemployment rate remained at a historic low of 2.9 percent, while the state added 8,900 private sector jobs from February 2018 to March 2018,” the Department of Workforce Development (DWD) announced.
The department also announced a revision to the February figures from the Bureau, showing employment was better than previously thought.
“Additionally, previously reported private sector job losses of 300 from January 2018 to February 2018 were revised upward to a gain of 3,700,” the DWD announced. “The data now shows a two-month increase of 12,600 private sector jobs.”
DWD Secretary Ray Allen said the low unemployment is the result of Governor Scott Walker’s leadership.
“Wisconsin’s working families, employees and communities are benefiting as Wisconsin’s labor market economy sets new records across numerous measurements,” Allen said in the release. “Our unemployment rate remains at a record low of 2.9 percent, the number of people employed is at a record high and our civilian labor force is larger than ever before in our state’s history.”
According to DWD, the continued unemployment rate of 2.9 percent is a record low, and the prior record low of 3 percent was in May, June, and July 1999. The state’s labor force participation rate continued to grow this month by 0.1 percent to 68.7 percent while the national labor participation rate declined 0.1 percent to 62.9 percent in the same period. The state’s civilian labor force increased to 3,168,500, an all-time high.
Walker said this month’s unemployment figures are part of a long-term trend that he expects to continue.
“In 2010, our unemployment rate peaked at 9.3 percent. Today, it’s down to 2.9 percent, an all-time low,” said Walker. “More people are working in Wisconsin than ever before, and thanks to our pro-jobs environment and highly-skilled, dependable workforce, we are maintaining record-low unemployment levels across the state. Wisconsin’s economy is booming and our investments in workforce development and talent attraction will continue supporting record levels of employment.”