(The Center Square) – Wisconsin’s seasonally adjusted unemployment rate dropped to 2.9% in August while the labor force participation rate was 65.5%.
That compares to the national unemployment rate of 4.2% and a 62.7% national labor force participation rate.
“The economy overall, we’re seeing it slow some but it’s slower growth,” said DWD Office of Economic Advisor Scott Hodek.
Hodek said that more positive markers could be expected in the future after the Federal Reserve Board’s interest rate cut on Wednesday.
Hodek noted that construction sector employment was up 2,300 in August.
It marks the fourth straight month of record highs for jobs and employment, according to the Wisconsin Department of Workforce Development.
The state saw a record nearly 3.1 million employed, up 2,100 from July.
The total nonfarm jobs increased 11,600 over the month and increased 35,300 over the year.
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