Job Market Continues to Thrive in the United States and Wisconsin

Strategic Insights -

The job market in the United States and Wisconsin is expected to experience significant growth this summer, with Manpower Inc.'s quarterly survey indicating that 32 percent of U.S. businesses plan to increase their workforce in the next quarter. This is the highest level of hiring seen in 20 years, with 59 percent of businesses planning to maintain their current staffing levels. The outlook is even more positive in Wisconsin, where 38 percent of businesses plan to add employees and only 3 percent expect cutbacks. The state's unemployment rate has fallen to 4.3 percent, the lowest rate since February 1970.

Key Takeaways:

  • The U.S. job market is expected to experience significant growth this summer, with 32 percent of businesses planning to increase their workforce in the next quarter.
  • The highest level of hiring seen in 20 years, with 59 percent of businesses planning to maintain their current staffing levels.
  • In Wisconsin, 38 percent of businesses plan to add employees, while only 3 percent expect cutbacks.
  • The state's unemployment rate has fallen to 4.3 percent, the lowest rate since February 1970.
  • Ameritech Wisconsin is suing the state Public Service Commission and a competing telephone company, claiming it should not be forced to pay for handling Internet calls for its customers.
  • Tyco International Ltd. has agreed to buy U.S. Surgical Corp. for $3.3 billion, with U.S. Surgical founder Leon Hirsch remaining as chairman and chief executive.
  • An undisclosed number of job cuts are likely at both companies due to overlap.

Statistics:

  • 32 percent of U.S. businesses plan to increase their workforce in the next quarter.
  • 59 percent of businesses plan to maintain their current staffing levels.
  • 38 percent of businesses in Wisconsin plan to add employees.
  • 25 percent of businesses in Wisconsin plan to maintain their current staffing levels.
  • 3 percent of businesses in Wisconsin expect cutbacks.
  • 4.3 percent is the lowest unemployment rate in Wisconsin since February 1970.
  • $3.3 billion is the amount that Tyco International Ltd. is paying to buy U.S. Surgical Corp.
  • 6,500 is the number of employees at U.S. Surgical worldwide.
  • 85,000 is the number of employees at Tyco worldwide.

Sources:

  • Manpower Inc.'s quarterly survey
  • Ameritech Wisconsin vs. TCG Milwaukee court documents
  • Tyco International Ltd. press release
  • Wisconsin Department of Workforce Development
  • Federal Communications Commission (no specific document cited, but mentioned in the article as an external source)