Wisconsin's Unemployment Rate increased again for the month of June to a 2012-high of 7.0%. The June rate increase (0.1%) was the second straight month with an increase. The rate is s now 0.1% higher than the 6.9% reported by the state in January 2012. In June there were roughly 6,800 more people unemployed in Wisconsin than in the month of May. Also, there were approximately 8,000 fewer individuals employed in the state as well as a decrease of 1,000 in the overall civilian labor force.
Although the trend has been upward, when compared with a year ago the current unemployment rate is still better than the June 2011 rate of 7.6%. There are over 18,000 fewer unemployed individuals and over 32,000 more individuals employed in Wisconsin than one year prior, resulting in the major improvement in the unemployment rate over that period. Also, Wisconsin's June 2012 unemployment is still much better than the June national average of 8.2%.
Next we'll take a look at the employment numbers for Wisconsin industries. Though mixed for the month, only a few experienced improvements in the employment numbers in June 2012. These business sectors included Information and Education & Health Service. Most industries, however, experienced their employment go down. Some of these were Leisure & Hospitality, Other Services, Construction, Manufacturing, Financial Activities, and Government.
Since the Department of Labor also reports employment statistics for many of the larger cities in WI we can dig deeper into the results. Similar to the business sector statistics, most cities had a rise in their unemployment rates in June 2012. Several cities experienced full percentage point increases for the month, including Janesville (9.4%), Eau Claire (7.1), and Racine (9.2%). Appleton saw it's rate rise from 6.1% in May to 6.8% in June. Though still an overall low rate for the state, Madison's June unemployment rate also rose to 5.5%. Also up for the month were Wausau (7.7%), Sheboygan (7.2%), and La Crosse (5.9%). Additionally, the major metro area of Milwaukee also went up to a 2012-high of 8.3%.
Last let's have a look at other neighboring states in the Midwest for June 2012. The States of Iowa (5.1%) and Minnesota (5.6%) continue to have much lower rates than WI. However, the States of Michigan (8.6%) and Illinois (8.7%) are still much higher than WI in June 2012. Both of these trends have held true for much of 2012.
When the Department of Labor releases the WI July 2012 employment numbers and statistics later this Summer, we'll once again review and analyze the data. As always, remember that employment numbers can be altered after publication. If that happens the numbers used in this article may change as well.
Although the trend has been upward, when compared with a year ago the current unemployment rate is still better than the June 2011 rate of 7.6%. There are over 18,000 fewer unemployed individuals and over 32,000 more individuals employed in Wisconsin than one year prior, resulting in the major improvement in the unemployment rate over that period. Also, Wisconsin's June 2012 unemployment is still much better than the June national average of 8.2%.
Next we'll take a look at the employment numbers for Wisconsin industries. Though mixed for the month, only a few experienced improvements in the employment numbers in June 2012. These business sectors included Information and Education & Health Service. Most industries, however, experienced their employment go down. Some of these were Leisure & Hospitality, Other Services, Construction, Manufacturing, Financial Activities, and Government.
Since the Department of Labor also reports employment statistics for many of the larger cities in WI we can dig deeper into the results. Similar to the business sector statistics, most cities had a rise in their unemployment rates in June 2012. Several cities experienced full percentage point increases for the month, including Janesville (9.4%), Eau Claire (7.1), and Racine (9.2%). Appleton saw it's rate rise from 6.1% in May to 6.8% in June. Though still an overall low rate for the state, Madison's June unemployment rate also rose to 5.5%. Also up for the month were Wausau (7.7%), Sheboygan (7.2%), and La Crosse (5.9%). Additionally, the major metro area of Milwaukee also went up to a 2012-high of 8.3%.
Last let's have a look at other neighboring states in the Midwest for June 2012. The States of Iowa (5.1%) and Minnesota (5.6%) continue to have much lower rates than WI. However, the States of Michigan (8.6%) and Illinois (8.7%) are still much higher than WI in June 2012. Both of these trends have held true for much of 2012.
When the Department of Labor releases the WI July 2012 employment numbers and statistics later this Summer, we'll once again review and analyze the data. As always, remember that employment numbers can be altered after publication. If that happens the numbers used in this article may change as well.
No comments:
Post a Comment