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Friday, November 24, 2017

Unemployment rates drop throughout region and state this fall

MADISON - On November 22nd, the Wisconsin Department of Workforce Development (DWD) announced the preliminary October 2017 unemployment rates for Wisconsin’s 72 counties and the 32 cities with populations greater than 25,000 residents. 

St. Croix County’s rate was estimated at 2.5%. For comparison, St. Croix’s final rate in September was 2.6% and August’s final rate was 2.9%. One year ago, the county’s unemployment rate was estimated at 3.4%.

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix referenced above, the preliminary rate for October 2017 in Dunn was estimated at 2.5%, followed by 2.6% in both Pierce and Polk. The current rates in all four counties are lower compared to last month (September 2017) and one year ago (October 2016).

St. Croix and Pierce counties are included in the 16-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The October 2017 unemployment rate for the Twin Cities was estimated at 2.3%, which is lower than September’s final rate of 2.8% and August’s final rate of 3.4%. The unemployment rate in the Twin Cities was 3.3% in October 2016.

 DWD said preliminary unemployment rates for October decreased in all 72 counties when compared to October 2016 and decreased or remained the same in 69 of the 72 counties when compared to September 2017. The current rates ranged from 2.1% in Lafayette to 4.8% in Menominee. 

The October 2017 preliminary unemployment rates decreased in all of Wisconsin’s 32 municipalities with population bases of least 25,000 residents when compared to October 2016 and decreased or remained the same in all 32 when compared to September 2017. October’s rates ranged from 2.1% in Madison to 4.3% in Racine.

Lafayette County had the lowest rate in October at 2.1% followed by Dane, Green, and Iowa at 2.2% and Clark at 2.3%. Menominee County had the highest rate in October at 4.8%, followed by Iron (4.4%), Forest (4.1%), Adams (3.9%), and Marinette (3.7%).

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in October was estimated at 3.4%, which is lower than September’s final rate of 3.5%, but the same August’s final rate (3.4%). One year ago, the state’s seasonally adjusted rate was 4.2%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in October 2017 was estimated at 3.3%, which is lower than September’s final rate of 3.7% and August’s final rate of 3.8%. Minnesota’s seasonally adjusted rate one year ago was 4.0%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for October was estimated at 4.1%, which is lower than September’s final rate of 4.2% and August’s final rate of 4.4%. One year ago the U.S. rate (seasonally adjusted) was estimated at 4.8%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for October 2017 was estimated at 68.8%, which is the same as the final rate for both September and August. One year ago, Wisconsin’s labor force participation rate was 68.4%. 

The preliminary (seasonally adjusted) labor force participation rate for the U.S. in October  was estimated at 62.7%, which is lower than September’s final rate of 63.1% and August’s final rate of  62.9%. One year ago, the labor force participation rate in the U.S. was 62.8%. 

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