(The Center Square) – Wisconsin’s seasonally adjusted unemployment rate rose to 3.2% as the state saw another record high of total nonfarm jobs in the state in January numbers released on Thursday.
The unemployment rate is below the national rate of 4.0% while Wisconsin’s labor force participation rate stayed at 65.9% as the national rate rose to 62.6%. Wisconsin had a 3.0% unemployment rate in December.
Wisconsin Department of Workforce Development Section Chief and Economist Scott Hodek said it is too early to see the impact of President Donald Trump’s policies on the state but that, typically, tariffs lead to rising prices and a dampening effect on the overall economy.
But Hodek said that we will wait to see if companies take on the added costs or they are passed on to consumers.
“It’s a little too early to really dig in in terms of analysis,” Hodek said. “But we do know that we are seeing a lot of volatility overall and there definitely will be impacts.”
The overall number of people employed in the state decreased from a record-high number by 3,800 over the month to 3,082,900 employed but remains up 10,600 compared to January 2024.
Total nonfarm jobs in Wisconsin increased 5,700 over the month and increased 20,900 over the year to 3,053,300 jobs.
