Wisconsin Unemployment Rate Hits Historic Low

Date: June 01, 2022

The Department of Workforce Development reports Wisconsin’s unemployment rate is at an historic low of 2.8 percent, the lowest rate ever.

 

There are over three million people working according to the department’s economist, and the labor force expanded by 2700 in April.

 

The state’s labor force participation rate, however, was unchanged from March, at 66.5 percent, and while wages were rising in all twelve counties, only in the states six largest counties were wages growing faster than the national average.

 

Dennis Winters, the departments economist, said, “he expects inflation to be temporary, but we assume the wage increases will be permanent.  We are seeing fewer people working multiple jobs, and we are seeing fewer people working part-time jobs, which is somewhat related.”

Related Content: Small Business News | Wisconsin

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