February unemployment rate in Wisconsin hits record high

MADISON, Wis. (WMTV) – Preliminary numbers for Wisconsin’s unemployment rate last month tied with the state’s all-time low, according to the Workforce Development Department.

The DWD released February data on Thursday, which showed the unemployment rate fell a tenth of a point from the previous month to 2.9%.

February’s unemployment rate is on par with previous records set in January, February and March 2018, as well as March 2020.

According to DWD Secretary-designate Amy Pechacek, the low unemployment rate comes on top of the 20,7000 private sector jobs added in Wisconsin from January through February and another 18,600 non-farm jobs. Pechacek noted, however, that those numbers could change over the course of the year.

“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, swings in job numbers may be more frequent across the country. months ahead as businesses navigate shifting supply lines and continued economic uncertainties,” said Pechacek.

The DWD said Wisconsin’s labor force participation rate for February was unchanged at just over 66%, but that’s still more than 4 points higher than the national rate.

Copyright 2022 WMTV. All rights reserved.

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