Wisconsin's August Unemployment Rate Up to 7.5% | All About ...

Posted by William Anders on October 15th, 2012Rating 9.0 ?Outstanding

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 straight month with an increase. There were about 229,000 unemployed individuals in Wisconsin during the month. This is an increase of about 4,800 over July 2012. The number of employed workers also fell by approximately 11,500 and the total civilian workforce went down by approximately 6,700workers . The impact of these statistics is the increase in Wisconsin?s unemployment rate in August.

The current August 2012 unemployment rate is nearly back up to where it was one year ago in August 2011 (7.6%). Back in August 2011 there were around 232,000 workers unemployed in the State. This is only slightly higher than the current unemployment number by roughly 2,500. Moreover, the 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 gradually increasing 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 saw employment gains during the month. Included in this trend were Construction, Information, Professional & Business Services, Leisure & Hospitality, Government, and a major 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 largest 12 month gain was seen by Information ( 3.5%). The biggest 12 month decrease was experienced by Construction (-5.1%). The business types with the biggest employment numbers for Wisconsin continues to be Trade Transportation and Utilities with approximately 508,400 employed in August.

The majority of the neighboring states in the area also had increases in their unemployment rates in recent months. The State of Minnesota?s unemployment rate rose 0.1% in August to 5.9% (a high for 2012). The State of Illinois also saw it?s rate go up 0.2% to 9.1%. Both the States of Indiana (8.3%) and Iowa (5.5%) were also up in August. Lastly, the State of Michigan experienced a big gain of 0.4% to 9.4% in the month of August (which is the highest rate in that state since November 2011).

In approximately a month the employment numbers will be released for WI for September 2012. When they are available, we?ll review the statistics and see how Wisconsin measures up. Additionally remember that formerly released employment numbers can be changed at a later date.

If you need assistance with WI Unemployment please check out the Wisconsin Unemployment HQ today!

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Source: http://www.vvy.in/finance/wisconsins-august-unemployment-rate-up-to-7-5/41800/

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