Share this on FacebookNovember 21st, 2019 | Published by NEW Construction Alliance
Preliminary numbers from Wisconsin’s Department of Workforce Development shows a slight uptick (3.0% - > 3.3%) in the state’s unemployment numbers in October 2019—the third straight month with an increase.
From June 2010 through July 2019, Wisconsin enjoyed year-over-year decreases in jobless rates for 110 months except for one.
While the unemployment rates are still at historical lows for the Badger State, many are watching this trend to determine if it’s a righting of the previous downward trend or a potential harbinger of larger change.
The manufacturing sector took one of the biggest hits with 7,700 lost jobs.
But these numbers come with a silver lining for our industry: The construction industry created the second largest number of jobs came in October 2019, adding 4,600 new jobs in Wisconsin. Not surprisingly, the largest job increases were in retail in anticipation of the coming Christmas shopping season.
Demand for skilled labor within the construction industry continues to grow and for many now looking for jobs, particularly those coming out of the manufacturing industry, this may be just the opportunity they’ve been seeking.