Milwaukee area business economic indicators show ongoing improvement | Business

According to MMAC, 20 of 22 available May business activity indicators improved over year-ago levels. May’s total matches the 20 positive indicators registered in April.

“While not seasonally adjusted, May non-farm job totals are the highest they have been since the pandemic downturn began. Likewise, the unemployment rate fell below 5% for the first time in 14 months,” said Bret Mayborne, the MMAC’s economic research director. “Nonetheless there is still progress to be made. Metro area employment totals are still 35,900 below their March 2020, pre-pandemic downturn levels.”

Highlights of the data include:

■ Nonfarm employment in the metro area jobs rose 7.2% in May vs. year-ago levels. Job totals averaged 825,900 for May, the highest seasonally unadjusted total posted since March of 2020. May’s increase ranked somewhat slower than April’s 8.5% year-over-year gain.

■ By major industry, May year-over-year gains are broad-based. Eight of…

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