The State of Wisconsin's unemployment rate was reporting at 7.5% in August 2012. This is a 0.2% increase over the prior month and is the 4th consecutive month with an increase. There were around 229,000 unemployed workers in Wisconsin during the month. This is an increase of about 4,800 over July 2012. The number of employed workers also fell by around 11,500 and the total civilian workforce fell by around 6,700people . The impact of these numbers is the increase in Wisconsin's unemployment rate in August.
The present August 2012 unemployment rate is nearly back up to where it was a year ago in August 2011 (7.6%). Back in August 2011 there were roughly 232,000 people unemployed in the State. This is only slightly higher than the current unemployment number by roughly 2,500. Also, the total number of employed people in the state is only about 6,600 higher in August 2012 vs. 2011. Since last August the rate went down to a low of 6.8% in March 2012, before slowly rising again to the current 7.5%.
Though the State as a whole saw a higher rate in August, a lot of Wisconsin's business types enjoyed employment gains during the month. Included in this trend were Construction, Information, Professional & Business Services, Leisure & Hospitality, Government, and a big gain in Education & Health Services. Industries that were down for the month of August included Manufacturing, Trade Transportation and Utilities, Other Services and Financial Activities. The biggest 12 month gain was seen by Information ( 3.5%). The greatest 12 month decrease was experienced by Construction (-5.1%). The industries with the largest employment numbers for Wisconsin continues to be Trade Transportation and Utilities with approximately 508,400 employed in August.
Wisconsin's certainly not alone. A great number of neighboring states in the area also had increases in their unemployment rates in recent months. Minnesota's unemployment rate rose 0.1% in August to 5.9%. The State of Illinois saw it's rate go up 0.2% to 9.1%. Also up were both the States of Indiana (8.3%) and Iowa (5.5%). Lastly, the State of Michigan experienced a big gain of 0.4% to 9.4% in the month of August.
Later this month the U.S Department of Labor will release the September 2012 employment statistics for WI. Please return when we once again review the statistics and see how the state compares. Of course remember that previously released employment statistics can be changed at a later date.
The present August 2012 unemployment rate is nearly back up to where it was a year ago in August 2011 (7.6%). Back in August 2011 there were roughly 232,000 people unemployed in the State. This is only slightly higher than the current unemployment number by roughly 2,500. Also, the total number of employed people in the state is only about 6,600 higher in August 2012 vs. 2011. Since last August the rate went down to a low of 6.8% in March 2012, before slowly rising again to the current 7.5%.
Though the State as a whole saw a higher rate in August, a lot of Wisconsin's business types enjoyed employment gains during the month. Included in this trend were Construction, Information, Professional & Business Services, Leisure & Hospitality, Government, and a big gain in Education & Health Services. Industries that were down for the month of August included Manufacturing, Trade Transportation and Utilities, Other Services and Financial Activities. The biggest 12 month gain was seen by Information ( 3.5%). The greatest 12 month decrease was experienced by Construction (-5.1%). The industries with the largest employment numbers for Wisconsin continues to be Trade Transportation and Utilities with approximately 508,400 employed in August.
Wisconsin's certainly not alone. A great number of neighboring states in the area also had increases in their unemployment rates in recent months. Minnesota's unemployment rate rose 0.1% in August to 5.9%. The State of Illinois saw it's rate go up 0.2% to 9.1%. Also up were both the States of Indiana (8.3%) and Iowa (5.5%). Lastly, the State of Michigan experienced a big gain of 0.4% to 9.4% in the month of August.
Later this month the U.S Department of Labor will release the September 2012 employment statistics for WI. Please return when we once again review the statistics and see how the state compares. Of course remember that previously released employment statistics can be changed at a later date.
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Unknown - Tuesday, November 6, 2012
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