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Tuesday, August 28, 2018

Local unemployment rates same or lower for July

MADISON - On August 22nd, the Wisconsin Department of Workforce Development (DWD) announced the preliminary July 2018 unemployment rates for Wisconsin’s 72 counties and the 32 cities with populations greater than 25,000 residents. 
 
St. Croix County’s rate was estimated at 2.9%. For comparison, St. Croix’s final rate for June was 3.2% and May’s final rate was 2.4%. One year ago, the county’s unemployment rate was estimated at 2.9%.
 
St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix referenced above, July’s preliminary rate in Polk was estimated at 2.9%, Pierce at 3.0%, and Dunn at 3.2%. The current rates are the same or lower in all four counties compared to the rates for July 2017.
 
St. Croix and Pierce counties are included in the 16-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The July 2018 unemployment rate for the Twin Cities was estimated at 2.6%, which is lower than June’s final rate of 2.8%, but higher than May’s final rate of 2.3%. The unemployment rate in the Twin Cities was 3.5% in June 2017.
 
DWD said preliminary unemployment rates for July declined or stayed the same in 69 of the 72 counties when compared to July 2017. Twenty-two counties experienced or tied their lowest July rate on record. The rates ranged from 2.3% in Sauk County to 7.7% in Menominee.  The five counties with the lowest unemployment rate in July include Sauk (2.3%), followed by Dane (2.4%), Iowa (also at 2.4%), Lafayette (also at 2.4%), and Green (2.5%). Menominee County had the highest rate in July at 7.7%, followed by Iron (5.2%), Forest (4.9%), Adams (4.6%), and Langlade (4.4%).
 
The July 2018 preliminary unemployment rates decreased or stayed the same in 31 of Wisconsin’s 32 municipalities with population bases of least 25,000 residents when compared to July 2017. Fifteen of the 32 largest municipalities experienced their lowest July unemployment rate on record. Rates ranged from 2.3% in Fitchburg to 4.9% in Racine.
 
The preliminary (seasonally adjusted) unemployment rate for Wisconsin in July was estimated at 2.9%, which is the same as the final rate for June, but higher than the final rate of 2.8% for May. One year ago, the state’s seasonally adjusted rate was 3.3%.
 
The preliminary (seasonally adjusted) unemployment rate in Minnesota in July was estimated at 3.0%, which is lower than the final rate of 3.1% for both June and May. Minnesota’s seasonally adjusted rate one year ago was 3.3%.
 
The preliminary (seasonally adjusted) unemployment rate in the U.S. for July was estimated at 3.9%, which is lower than June’s final rate of 4.0%, but higher than May’s final rate of 3.8%. One year ago the U.S. rate (seasonally adjusted) was estimated at 4.3%.
 
Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for July 2018 was estimated at 68.9%, which is the same as the final rate for both June and May. One year ago, Wisconsin’s labor force participation rate was 68.8%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in July was estimated at 62.9%, which is the same as the final rate for June but higher than May’s final rate of 62.7%. One year ago, the labor force participation rate in the U.S. was 62.7%. 
 
July’s estimates are preliminary and are subject to revision within the next few weeks.

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