DWD: October Unemployment Rates Announced

Contact:
Rose Lynch (608) 266-6753

UNADJUSTED DATA

Madison – Wisconsin Department of Workforce Development (DWD) Secretary Roberta Gassman today announced that Wisconsin’s unadjusted unemployment rate for October was 4.1 percent, matching the September rate. One year ago, Wisconsin had an unadjusted rate of 4.5 percent in October. October 2004 saw a slight increase in the number of people in the job market.

“Wisconsin’s job market brightened again in October, as demand for workers continues to grow,” said Secretary Gassman. “Although Wisconsin has had two straight months of relatively low unemployment at 4.1 percent, showing an improved economic climate in the state, too many Wisconsin workers are still trapped in jobs paying very low wages.”

The perception of an improved job market usually increases the number of people looking for work. Most were not disappointed in their decision to seek work, as employment increased from 2,975,500 in September to 2,983,000 in October.

The nonfarm job market in the state expanded as well. In October there were 2,867,900 nonfarm jobs estimated, compared to 2,854,700 in September. Although there is normally a slight increase in jobs between September and October, the 13,200 jobs added represents about double the normal increase. There were 2,809,900 jobs one year ago in October 2003. The growth of 58,000 jobs over the year represented a 2.1 percent growth, exceeding the growth of 1.6 percent estimated for the nation. Throughout 2004, Wisconsin has seen better growth in jobs than the nation.

Although many industrial sectors, such as manufacturing and construction experience seasonal employment contraction at this time of the year, the contraction was much less pronounced than is usually the case. Construction stayed very strong in October, with 133,100 jobs in October compared to 133,400 in September. Manufacturing reported 519,800 jobs in October compared to 520,100 in September. One year ago, manufacturing reported 503,400 job in the State. Although Wisconsin manufacturing has been reporting improved over-the-year employment figures for seven straight months, the 16,400 jobs added between October 2003 and October 2004 was the strongest over-the-year improvement since April 1998. Retail trade reported hiring strength, and local government also increased, reflecting the full return to work by school year employees.

SEASONALLY ADJUSTED

Wisconsin’s seasonally adjusted unemployment rate for October was reported at 5.0 percent, unchanged from September and down from 5.5 percent in October 2003. The nation’s seasonally adjusted rate for October was 5.5 percent compared to 5.4 percent in September. The national October 2003 rate was 6.0 percent.

October employment and unemployment figures for individual counties will be available November 23. This release also is available at http://dwd.wisconsin.gov/dwd/newsreleases/