The April Unemployment rates have been released for the nation. The unemployment rate for Wisconsin for April of 2012 is a seasonally adjusted rate of 6.7%. The number is a slight decrease from the March 2011 rate of 6.8% and also continues a slow downward trend from the beginning of 2012. A rate of 6.7% is the lowest the state of Wisconsin has had since December of 2008. Compared to April of last year, the rate as dropped nearly a full percentage point from 7.5%. Compared to a year ago there are approx. 27,000 more people employed in WI.
When comparing Wisconsin to the US as a whole, it’s rate is significantly better than the national average of 8.1%. Like the Wisconsin numbers, the US unemployment rate has also seen a slow, yet steady, improvement since the beginning of the year (8.8% in January and 8.1% in April).
Certain areas of the state appear to be doing better than others. We see some of the highest rates in the cities of Milwaukee, Racine, and Wausau. Areas with better than average unemployment rates include LaCrosse, Madison, Eau Claire, and Green Bay. Racine WI has the worst overall ranking and rate at 8.4% (not seasonally adjusted), and Madison has the best at 4.7%. Many cities, however, are seeing the same overall 2012 improvement in unemployment rates that are being experienced by Wisconsin as a whole.
When compared to other neighboring states Wisconsin’s rate of 6.7% is still one of the best. The State of Illinois has an April 2012 rate of 8.7%, Michigan’s rate is 8.3%, Indiana is at 7.9%, and Ohio’s unemployment rate is 7.4% Only Minnesota has a better rate for April 2012 (5.6%).
Some of the industries seeing the largest gains for the month include Manufacturing and Educational and Health Services. Industries that lost some jobs include Construction, Leisure and Hospitality, and Financial Activities.
We’ll be able to see of the downward unemployment trends continue for Wisconsin when the May 2012 unemployment numbers are released next month. Also be sure to note that many times previously released numbers can be adjusted (up or down) so please be aware that the number and information detailed in the article are subject to change.
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