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July 2002 Unemployment Rates Released |
Contact: Terry Ludeman, 608/267-3262
JULY UNEMPLOYMENT RATES RELEASED
MADISON – Wisconsin’s seasonally adjusted unemployment rate for July was estimated at 4.7 percent, down two-tenths of a percentage point from June and one-tenth of a percentage point higher than the July 2001 figure. The national unemployment rate for July held steady from June at 5.9 percent.
"While the state’s unemployment rate continues to show improvement over the course of this year, industry employment has begun to improve in recent months as well," said DWD Secretary Jennifer Alexander.
Wisconsin’s non-adjusted unemployment rate dropped from 5.1 percent in June to a preliminary figure of 4.7 percent in July. Last year’s July rate was 4.6 percent. A slight decrease in the unemployment rate is typical for this time of the year, as some frustrated job seekers leave the job market and the summer holiday season takes some casual labor force participants out of the labor market. Meanwhile, employment increases as many of June’s job seekers find employment. This increase in employment, combined with the decrease in labor force participants, results in a reduction of unemployment, which consequently lowers the unemployment rate.
"Place of work data", commonly referred to as "nonfarm wage and salary data" estimated a decrease in jobs within the state, primarily in the government sector, as public schools and universities cut back their employment for the summer months. The private sector saw an increase in the number of jobs, going from 2,454,800 jobs in June to 2,459,300 jobs in July. One year ago, there were 2,447,900 jobs in the private sector. Jobs in the construction sector increased slightly, as did the jobs in the trade sector, the finance, insurance and real estate sector, and the services sector. Manufacturing remained unchanged, although there was a slight shift from durable goods to non-durable goods. The transportation, communications and public utilities sector was also reported down. There continues to be softness in the durable goods manufacturing sector, as job counts deteriorated slightly in non-electrical machinery manufacturing, in transportation, in furniture and fixtures manufacturing, in primary metals manufacturing and in electrical machinery, equipment and supplies manufacturing.
July employment and unemployment figures for individual counties should be available on August 21. This release also is available at www.dwd.state.wi.us/lmi.
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|Division of Administrative Services |
Content Contact: Terry Ludeman