Wisconsin Hits Record Employment Highs But Job Growth Slowing as Retirements Loom

• Wisconsin ended 2023 with over 3 million people working, a record high for the state. 32,300 workers entered the workforce in 2023.

• Unemployment rate was 3.3% in November, lower than the national average of 3.7%. Job market is in workers' favor currently.

• 1,700 employees were added to Wisconsin's workforce in November. However, hiring may be slowing down based on October metro Milwaukee data.

• In December, Dovenmuehle Mortgage laid off 17 remote workers, adding to over 6,700 workers laid off in Wisconsin in 2023.

• Wisconsin needs more workers to fill open positions as Baby Boomers retire. Not enough people to meet business hiring demands.