Report: State’s manufacturing sector remains strong

Posted by of Insight Publications

Two new reports demonstrate just how strong the economy is right now in Wisconsin.

According to the Bureau of Labor Statistics data, Wisconsin added 19,000 more manufacturing jobs between November 2017 and November 2018, bringing the state’s total manufacturing workforce to 490,000. Those figures landed Wisconsin right behind Texas for the highest number of manufacturing jobs created in the nation during the same period. Texas created 36,000 manufacturing jobs during the same time period.

The manufacturing industry makes up 16.4 percent of the state’s job market and produced 18.2 percent of Wisconsin’s gross domestic product in 2017, according to a recent study from the Wisconsin Policy Forum.

Unemployment levels are also hovering near record lows, according to the Department of Workforce Development. During November, Manitowoc recorded its lowest unemployment rate on record at 2.7 percent. Green Bay and Neenah were among the cities whose rates hit or tied their lowest mark for any month on record. Green Bay’s rate was 2.5 percent while Neenah’s was 2.3 percent. Statewide, the unemployment rate in Wisconsin was 3 percent.