Department of Numbers

Madison, Wisconsin Unemployment

The BLS reported that the unemployment rate for Madison rose 0.2 percentage points in September 2023 to 2.4%. For the same month, the metro unemployment rate was 0.7 percentage points lower than the Wisconsin rate. The unemployment rate in Madison peaked in April 2020 at 11.1% and is now 8.7 percentage points lower. From a post peak low of 1.8% in April 2023, the unemployment rate has now grown by 0.6 percentage points. You can also compare Madison unemployment with unemployment in other cities.

Unemployment Rate September 2023 Month/Month Year/Year
National 3.8% 0.0 +0.3
Wisconsin 3.1% +0.2 0.0
Madison 2.4% +0.2 +0.1
Note: Metro level data is now seasonally adjusted.1 All comparisons are made with September 2023 data as October 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 32,519 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 2,538.

Unemployed Persons September 2023 Month/Month Year/Year
Madison 9,750 +675 +681

Number of Unemployed Persons

Madison, Wisconsin Unemployment History

Date National
Unemployment Rate		 Wisconsin
Unemployment Rate		 Madison
Unemployment Rate		 Madison
Unemployed
October
2023		 3.9% 3.2% — —
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
December
2022		 3.5% 3.0% 2.2% 8,831
November
2022		 3.6% 3.0% 2.2% 8,854

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. ↩

Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Nothing on this site constitutes investment advice. Contact ben@deptofnumbers.com if you have any questions, comments or suggestions. Privacy policy.