Department of Numbers

Madison, Wisconsin Unemployment

The BLS reported that the unemployment rate for Madison fell 0.0 percentage points in November 2023 to 2.5%. For the same month, the metro unemployment rate was 0.8 percentage points lower than the Wisconsin rate. The unemployment rate in Madison peaked in April 2020 at 11.1% and is now 8.6 percentage points lower. From a post peak low of 1.8% in April 2023, the unemployment rate has now grown by 0.7 percentage points. You can also compare Madison unemployment with unemployment in other cities.

Unemployment Rate November 2023 Month/Month Year/Year
National 3.7% -0.1 +0.1
Wisconsin 3.3% +0.1 +0.3
Madison 2.5% 0.0 +0.3
Note: Metro level data is now seasonally adjusted.1 All comparisons are made with November 2023 data as December metro level unemployment data has not yet been released.

Unemployment Rate: Madison, Wisconsin, National

Madison, Wisconsin monthly unemployment rate chart

Note: Recessions shown in gray.

Madison, Wisconsin Unemployed

The number of people unemployed in Madison peaked in April 2020 at 42,269. There are now 31,942 fewer people unemployed in the metropolitan area. From a recent trough of 7,212 in April 2023, the number of unemployed has now grown by 3,115.

Unemployed Persons November 2023 Month/Month Year/Year
Madison 10,327 +94 +1,473

Number of Unemployed Persons

Madison, Wisconsin Unemployment History

Date National
Unemployment Rate		 Wisconsin
Unemployment Rate		 Madison
Unemployment Rate		 Madison
Unemployed
December
2023		 3.7% — — —
November
2023		 3.7% 3.3% 2.5% 10,327
October
2023		 3.8% 3.2% 2.5% 10,233
September
2023		 3.8% 3.1% 2.4% 9,750
August
2023		 3.8% 2.9% 2.2% 9,075
July
2023		 3.5% 2.6% 2.0% 8,197
June
2023		 3.6% 2.5% 1.9% 7,736
May
2023		 3.7% 2.4% 1.8% 7,382
April
2023		 3.4% 2.4% 1.8% 7,212
March
2023		 3.5% 2.5% 1.9% 7,474
February
2023		 3.6% 2.7% 2.0% 8,042
January
2023		 3.4% 2.9% 2.2% 8,516

1. Metro area unemployment rates are now seasonally adjusted. The BLS has started publishing smoothed seasonally adjusted metropolitan area data which makes comparisons to state and national data more relevant than the unadjusted numbers. ↩

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