Wisconsin's August 2012 unemployment rate was published at 7.5%. This is a 0.2% increase over July and is the 4th consecutive month with an increase. There were around 229,000 unemployed individuals in Wisconsin in August. This is an increase of around 4,800 over July 2012. The number of employed individuals also decreased by approximately 11,500 in August and the total workforce fell by roughly 6,700. The combination of these statistics was the 0.2% increase in Wisconsin's unemployment rate in August 2012.
Wisconsin's August 2012 unemployment rate is almost back to where it was a year ago in August 2011 (7.6%). In August 2011 there were around 232,000 people unemployed in the Wisconsin. This number is only a little higher (by 2,500) than the current 2012 unemployment number. Furthermore, the number of employed people in the state is only about 6,600 more in August 2012 vs. 2011. During the past year the unemployment rate went down to a low of 6.8% in March 2012, before slowly increasing again to the current 7.5%.
Though the State's rate was up for the month, a number of Wisconsin's major business sectors saw employment gains in August. Included in this trend were Government, Construction, Information, Professional & Business Services, Leisure & Hospitality, and a significant gain in Education & Health Services. Business types that were down for the month were Trade Transportation and Utilities, Manufacturing, Other Services and Financial Activities. The biggest one year gain was seen by Information (up by 3.5%). The greatest yearly decrease was experienced by Construction (down by -5.1%). The business sectors with the biggest employment numbers for WI continues to be Trade Transportation and Utilities with roughly 508,400 employed in August.
The State of Wisconsin is certainly not by themselves. Many of the neighboring states in the Midwest also had higher rates in August 2012. The State of Minnesota's unemployment rate rose 0.1% in August to 5.9%. Illinois saw it's rate rise 0.2% to 9.1%. Also up were both the States of Iowa (5.5%) and Indiana (8.3%). Lastly, the State of Michigan experienced a0.4% rise up to 9.4% in August.
In about a month the September employment statistics will be published for WI. Please come back when we once again review the facts and see how the state compares. Also remember that formerly released employment numbers can be modified in the future.
Wisconsin's August 2012 unemployment rate is almost back to where it was a year ago in August 2011 (7.6%). In August 2011 there were around 232,000 people unemployed in the Wisconsin. This number is only a little higher (by 2,500) than the current 2012 unemployment number. Furthermore, the number of employed people in the state is only about 6,600 more in August 2012 vs. 2011. During the past year the unemployment rate went down to a low of 6.8% in March 2012, before slowly increasing again to the current 7.5%.
Though the State's rate was up for the month, a number of Wisconsin's major business sectors saw employment gains in August. Included in this trend were Government, Construction, Information, Professional & Business Services, Leisure & Hospitality, and a significant gain in Education & Health Services. Business types that were down for the month were Trade Transportation and Utilities, Manufacturing, Other Services and Financial Activities. The biggest one year gain was seen by Information (up by 3.5%). The greatest yearly decrease was experienced by Construction (down by -5.1%). The business sectors with the biggest employment numbers for WI continues to be Trade Transportation and Utilities with roughly 508,400 employed in August.
The State of Wisconsin is certainly not by themselves. Many of the neighboring states in the Midwest also had higher rates in August 2012. The State of Minnesota's unemployment rate rose 0.1% in August to 5.9%. Illinois saw it's rate rise 0.2% to 9.1%. Also up were both the States of Iowa (5.5%) and Indiana (8.3%). Lastly, the State of Michigan experienced a0.4% rise up to 9.4% in August.
In about a month the September employment statistics will be published for WI. Please come back when we once again review the facts and see how the state compares. Also remember that formerly released employment numbers can be modified in the future.
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