Dept. of Workforce Development: Unemployment rate in February drops to 2.9 percent; Wisconsin adds 20,700 private sector jobs

MADISON – The Department of Workforce Development (DWD) today released the U.S. Bureau of Labor Statistics (BLS) preliminary employment estimates for the month of February 2022. The data shows that Wisconsin unemployment rate declined to 2.9 percent in February, down from 3.0 percent in January. The data also showed that Wisconsin added 20,700 private sector jobs from January 2022 to February 2022.

Place of Residence Data: Wisconsin’s labor force participation rate in February remained at 66.4 percent, 4.1 percentage points higher than the national rate of 62.3 percent. Wisconsin’s unemployment rate in February was 2.9 percent. Wisconsin’s 2.9 percent unemployment rate ties the previous record low set in January, February, and March of 2018 and again in March 2020.

Place of Work Data: Wisconsin total nonfarm jobs increased from January 2022 to February 2022 by 18,600, while private-sector jobs increased by 20,700 over the same period.

“Wisconsin’s preliminary February unemployment rate ticked lower to tie for the record low of 2.9 percent, and the state demonstrated strong month-over-month job growth by adding 20,700 private-sector jobs and 18,600 total nonfarm jobs,” DWD Secretary-designee Amy Pechacek said. “These numbers show that Wisconsin’s economy is growing as it continues to recover from the COVID-19 pandemic, but with global unrest threatening markets, job number fluctuations could be more common in the coming months as companies navigate changing supply lines and continued economic uncertainties.

“Today’s full report and the benchmarked 2021 data can be viewed on DWD’s premier source for labor market information,