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Sunday, November 11, 2012

The State of Wisconsin's September Unemployment Rate at 7.3%

By Kurt Allen


The State of Wisconsin joined much of the rest of the nation in enjoying a decrease in it's unemployment rate in September. Wisconsin's September 2012 rate was published at 7.3%, down 0.2% from the prior month of August and the first month with a decrease since April. For the month there were an estimated 223,600 unemployed individuals in WI, a decrease of about 5,600 workers. In September there was also an increase in the number of employed workers by almost 4,400 and a decrease of 1,200 in the total WI workforce. The net result of these results was the 0.2% drop in Wisconsin unemployment rate in September.

The State of Wisconsin's unemployment rate is presently lower than it was one year ago in September 2011 (7.4%). The unemployment rate had dropped starting back in September 2011 down to just 6.7% in April 2012 before it began it's subsequent to a 2012 high of 7.5% in August 2012. When compared with a year ago, there are around 4,000 fewer unemployed individuals in Wisconsin. There's also about 6,700 more employed individuals and just over 2,700 more people in the total workforce in the state compared to September 2011.

The State of Wisconsin's September 2012 unemployment rate remains lower than the national average by 0.4%. Like Wisconsin, the U.S. unemployment rate also fell in September to 7.8%.

Several Wisconsin industries enjoyed modest gains in September. Up were the business sectors of Information, Financial Activities, Professional and Business Services, and Education and Health Services. Wisconsin business sectors that were down in September included Construction, Trade Transportation and Utilities, Leisure & Hospitality, Other Services, and Government.

Over the past 12 months the WI business with the biggest employment gains was Information (up 4.3%). The WI business sector with the biggest 12 month decline was Construction (down 6.1%).

Many other states in the Midwest experienced lower unemployment rates in September 2012 (41 states had lower rates in the month). The State of Minnesota had it's rate fall from 5.9% in August to 5.8% in September. Iowa saw it's unemployment rate fall 0.3% to just 5.2%. Also down in September was the State of Illinois falling from 9.1% to 8.8%. Michigan also enjoyed a lower rate for the month down 0.1% to a region-high 9.3%. Lastly, the State of Indiana's rate was lower by 0.1% to 8.2% in September.

The October 2012 employment numbers for Wisconsin's will be available next month. When they are available we'll once again review the results and see how the state measures up over the past year. Be aware that previously published employment results are often adjusted in the future.




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