Wisconsin sees growth in labor force, employment, and jobs in March

Metro Wire Staff

The Department of Workforce Development announced today the release of the U.S. Bureau of Labor Statistics’ preliminary job totals for March 2024, showing significant year-over-year growth in Wisconsin’s labor force, employment, and total nonfarm jobs.

According to the report, Wisconsin’s labor force expanded by 23,800 over the year, with nearly 13,000 more people employed compared to the previous year. Total nonfarm jobs in the state remained close to the record high set in February 2024, standing at 3,034,400.

The state’s seasonally adjusted unemployment rate held steady at 3.0% in March 2024, which is 0.8 percentage points lower than the national rate. Wisconsin’s labor force participation rate for the same period was 65.6%, significantly higher than the national rate of 62.7%.

Place of Residence Data revealed that Wisconsin’s unemployment rate remained unchanged at 3.0% in March 2024. The state’s labor force decreased by 3,500 over the month to 3,140,000, with the number of employed individuals dropping by 800 to 3,047,100. The number of unemployed individuals decreased by 2,600 to 93,000.

Place of Work Data indicated a decrease of 1,700 total nonfarm jobs over the month, while over the year, there was an increase of 22,700 jobs, bringing the total to 3,034,400 in March. Private sector jobs decreased by 2,900 over the month but increased by 14,300 over the year, totaling 2,623,400. Notably, construction jobs grew by 3,100 over the month, reaching a record high of 143,900 jobs.

The data released today is available for further exploration at Wisconomy.com.