A recent Marquette Law Poll shows 53% of Wisconsinites say our state is headed in the right direction. When you look at the data, you can see why. We've had a remarkable turnaround in our economy, and things are looking up. Simply put, Wisconsin is winning.
As you may know, Wisconsin's unemployment rate has dropped from 9.2% back in 2010 to 3.1% today. Our unemployment rate is the lowest since October of 1999! In fact, Wisconsin's unemployment rate for May is tied with Iowa for the lowest in the Midwest and tied for 7th lowest in the nation. Our labor participation rate is now ranked in the top five in the country!
That's a huge improvement from where we were when Governor Doyle and the Democrats were in charge.
The good news for Wisconsin doesn't stop there. Data released by the U.S. Bureau of Labor Statistics shows
in all 72 counties compared to the same time last year. Several counties are at all-time lows. Our state's unemployment rate dropped 0.8% from January 2017 to May 2017. That's the
for that period since 1983.
When you dig a little deeper into our job numbers, there is even more good news. According to the Associated Builders & Contractors, Wisconsin's construction unemployment last month is the lowest on record for the month of May. Unemployment in the construction industry is 3.3% - a 1.7% drop from a year ago.
Our construction industry is getting another boost this week. Swedish mega store, IKEA broke ground on their first store in Wisconsin. The new store in Oak Creek is expected to bring 500 jobs to the area during construction and 250 when it opens.
IKEA isn't the only international company picking Wisconsin. German candy manufacturer Haribo is building a $242 million plant which will employ about 400 workers right here in our state. One Haribo executive summed up why they chose Wisconsin, "We are embarking on building one of the largest facilities in the confectionery industry and this location provides ideal conditions to further grow Haribo's successful business in the USA." Wisconsin is also in the running for another major international company, so keep your fingers crossed!
Our rebound is so remarkable, we are getting attention all over the country. May was the third straight month that Wisconsin led the five state Chicago Fed region in economic growth. Wisconsin is now a top ten state for business according to CEO Magazine. (We were #41 in 2010) In February, U.S. News and World Report ranked Wisconsin 16th on its "Best States" list.
Our state is open for business again, and the numbers prove it.