The state Department of Workforce Development on Thursday released U.S. Bureau of Labor Statistics revisions for January and preliminary estimates for February, covering unemployment and employment statistics for the state of Wisconsin.
According to DWD, the BLS estimates show:
Place of residence data: A preliminary seasonally adjusted unemployment rate of 4.8 percent in February, down from 5.0% in January. The 4.8 percent rate is the state’s lowest rate since July 2008 and is lower than the national unemployment rate of 5.5 percent in February. Wisconsin’s labor force included 2,969,400 employed workers, an all-time high.
Place of work data: The state added a statistically significant 13,600 private sector jobs from January to February. Other statistically significant changes include a month-over-month job gain in professional and business services. The numbers also show an upward revision in January’s month-over-month private sector job gain by 4,200.
“Wisconsin’s unemployment rate dropped below 5.0% percent for the first time since 2008 while employment reached an all-time high,” DWD Secretary Reggie Newson said. “The state’s preliminary addition of 13,600 private sector jobs over the month is the best one-month jump since September 2003 according to the benchmarked series. And, with an upward revision of January’s month-over-month gain by 4,200 jobs, the monthly data series suggests we are off to a strong economic start in 2015.”