Saturday, August 21, 2021

Wisconsin jobs kept coming back in July

New Wisconsin jobs report dropped on Thursday. And the positive trends of 2021 continued here in July.
In brief, the seasonally adjusted data shows:
Place of Residence Data: Wisconsin's labor force participation rate in July was 66.4, 0.1 percentage point higher than June's labor force participation rate, and 4.7 percentage points higher than the national rate of 61.7 percent. Wisconsin's unemployment rate in July was 3.9 percent, while the national unemployment rate was 5.4 percent in the same month.
Place of Work Data: Wisconsin added 12,400 private-sector and 13,100 total non-farm jobs in July 2021.
Both of these are pretty good numbers, which we should have expected given the great US jobs report from July. And all the three big topline stats in the jobs report showed upticks in Wisconsin.

Sorry WMC, I don't think that $300/week unemployment add-on (which runs out in 2 weeks) is holding us back in Wisconsin.

And much like the rest of the country, the Leisure and Hospitality sector continued to recover, with 4,000 more jobs on a seasonally-adjusted basis, and 8,100 more overall. We're still down more than 50,000 jobs in that area compared to the start of 2020, but there has been a gain of 14,500 jobs there so far in 2021.

There was also a sizable increase in manufacturing (2,300 seasonally-adjusted, 3,700 not-seasonally adjusted), which means nearly 90% of the jobs lost in that sector when COVID broke out have now come back in Wisconsin.

However, COVID outbreaks were at their low point in mid-July, when the jobs survey was taken. That'll certainly be a different factor for August's report, although unemployment claims have generally fallen state and nationwide even as the pandemic has resurged (at least so far). But for now, things look pretty good in the Wisconsin jobs market as the Summer/pre-school season goes into its last two weeks.

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