It's been almost 19 years since metro Milwaukee last registered an annual average employment high. In that period, we have gone through two national recessions -- one mild and one deep. At the present pace of growth, the metro area should reach a new all-time high in 2018, averaging an estimated 875,300, somewhat higher than the year 2000 average of 874,700.
Likewise, the metro area unemployment rate should reach a historical low. At the present pace, the local unemployment rate should average an estimated 3% in 2018, below the record 3.2% average rate posted in 1999. While the historical record only goes from 1990 to present for this series, a review of unrevised data from earlier years suggest that the annual rate has not been lower since sometime before 1970. >>Read more of this eNewsletter