Milwaukee
is known as a commercial and industrial hub for the Great Lakes region and is
also home to six Fortune 1000
manufacturers, banks, diversified service companies and insurance firms. The
economy is conquered by small- to medium-size firms. Milwaukee is well-known for a well educated workforce with a strong
work ethic.
Major
Industries
This city is engaged largely in
the manufacture of machinery, differing to Milwaukee's status as a brewery
capital, where less than one percent of the city's industrial output is allied
to brewing. In last few years, it has earned repute as an axis for precision
manufacturing. It dominates the nation in the production of X-ray equipment, industrial
controls, steel foundry parts and mining machinery. This region is also into
printing and publishing, home to more than 11 percent of the top 70 printing
companies in North America. Publishers and printers collectively employ more
than 21,000 people which are about 2.5% of the workforce.
Service
Industry
Professional and managerial
positions are the fastest-growing careers in Milwaukee, employing almost 27
percent of the workforce. Service businesses compose the largest sector of the
local economy and health care related job opportunities result for about 27 percent
of service sector jobs. Other major areas of service employment include 27
percent of business services, 7 percent educational services and 10 percent of social
services.
Located in Milwaukee County,
Wisconsin's technology industry staff employs more than one-third employers of
hi-tech jobs.
Tourism
Tourism is also a chief
contributor to the local economy. Milwaukee hosts many festivals and parades
right through the year and is home to nationally familiar museums, zoos,
professional sports teams and entertainment venues. On the whole these
attractions bring more than 5 million tourists and generate $1.9 billion
annually.
Because of its location nearly
66 million people and one-third of U.S. manufacturing output is within 600
miles of the city and is a main commercial shipping hub. Private business
steers the city's economy with less than 11 percent of the employees working in
the public sector.
While
manufacturing is a strong factor contributing to the city's economy, service jobs in Milwaukee have revealed the
most growth in recent years.
Though jobs in Milwaukee ranks slightly below
the national average in pay levels for most occupations, the city's diverse
economy and strong work ethic has aided in keeping area’s unemployment under
the national average.
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