Madison tied with a city in Iowa for the lowest metropolitan unemployment rate in the country in February, according to data released by the U.S. Bureau of Labor Statistics.
“Generally speaking, low unemployment for a city or region is usually indicative of a healthy, strong local economy,” said Gene Dalhoff, vice president of talent and education for the Madison Region Economic Partnership. “That is certainly the case in Madison.”
Unemployment rates were generally lower last February compared to the year before — 228 of the country’s 389 metropolitan areas boasted lower rates, while 131 areas had higher percentages and 30 areas had “unchanged rates,” according to the BLS.
“At the moment, there are conflicting indicators about the likelihood of a recession in the near future,” Dalhoff said. “However, should a recession occur, Wisconsin, and especially Madison, is well positioned to weather a downturn in comparison to many other regions across the country.”