A majority of metro Milwaukee economic indicators improved in January with 14 of 23 indicators improving over year-ago levels, the same number of improved indicators as in December, according to the latest report from the Metropolitan Milwaukee Association of Commerce.
“The economic trend in metro Milwaukee has been somewhat sluggish in recent months as improvement in the employment rate has slowed and nonfarm job growth is less than robust,” said Bret Mayborne, the MMAC’s economic research director. “Nonetheless, job gains continue, with growth now reaching 64 consecutive months of year-over-year gains as employment totals inch toward its pre-recession high.”
Nonfarm employment in the metro area was 836,700 in January, up 0.7 percent compared to a year ago and better than the 0.3 percent increase in December. The biggest area employment gains were in government jobs (up 3.6 percent), other services (up 3.4 percent) and education and health services (up 3.0 percent). The biggest area employment declines were in financial activities (down 3.7 percent), information (down 3.5 percent) and leisure and hospitality (down 3.4 percent). Manufacturing employment dipped 0.3 percent in January.
The metro Milwaukee unemployment rate in January was 5.3 percent (not seasonally adjusted), down from 5.5 percent a year ago.
The number of homes sold in the metro area in January was 772, up 14.4 percent from a year ago.
The number of passengers using Mitchell International Airport was up 6.1 percent in January compared to a year ago. January was the fifth month in a row of year-over-year increased traffic at the airport.
New car registrations in January were down 12.5 percent from a year ago to 2,060.
Read more economic data reports on the BizTracker page.
