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Jobless Rate Hits 15-Year Low In Northwoods

pixabay.com

A state labor economist says it's been 15 years since Wisconsin has seen unemployment levels as low as they were in September.

The overall unemployment rate of 4.1 percent is down from August and at its lowest rate since February 2001.

In the Northwoods, rates varied from 3.2 percent in Price county to the state's second highest rate of 5.8 percent in Iron county.

Economist Scott Hodek cites Lincoln county as an example where unemployment is at 3.5 percent.Hodek wonders how much lower the rates can go. He says across the nation there are more jobs and fewer workers chasing those jobs.

".....basically everyone we're adding to the labor force plus some of the unemployed are getting jobs. That's one big piece right there...."

Hodek says unemployment rates haven't been this low in 15 years...

".....the labor force went up over the year, the number of employed went up, number of unemployed went down. The unemployment rates were down over the year. Basically everyone we're adding to the labor force plus the unemployed are getting jobs...."

Hodek says moderate job growth continues, and coupled with more Baby Boomers retiring means more jobs are open.

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