Wisconsin seeing record high employment, wage growth. Let`s break down what that means.

While the nation as a whole experiences growing unemployment, Wisconsin is seeing "record high" employment and growth in hourly wages, according to a press release issued by Gov. Evers and the Department of Workforce Development.

In June, a total of 3,048,600 people were employed in Wisconsin, according to the press release. At the same time, the state`s labor force participation rate was 3.0 points ahead of the national rate of 62.5 percent.

And in February, March, and May of this year, Wisconsin led the nation in "inflation adjusted hourly earnings growth," the release said, citing data from the U.S Bureau of Labor Statistics.

That means "wages are going up faster than prices" — a very good thing, said Ross Milton, an assistant professor of public affairs at the University of Wisconsin-Madison who specializes in state and local finance.