“While not seasonally adjusted, May nonfarm job totals are the highest they have been since the pandemic downturn began. Likewise, the unemployment rate fell below 5 percent for the first time in 14 months,” said Bret Mayborne, MMAC’s economic research director. “Nonetheless there is still progress to be made.”
He notes in the report that employment totals for the metro area are still 35,900 below pre-pandemic downturn levels in March 2020.
Eight of the 10 major industry sectors for Milwaukee had year-over-year job increases in May, the report shows. The largest percentage job increase over the year was in leisure and hospitality, which saw a 43.4 percent increase as the industry continues to rebound from the past year.
The report also reflects the resurging air travel numbers in Milwaukee, with passenger numbers at Mitchell International Airport increasing more than 480 percent from May 2020, reaching 366,894 in May 2021.