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August 2002 Unemployment Rates Released |
Contact: Terry Ludeman, 608/267-3262
AUGUST UNEMPLOYMENT RATES RELEASED
MADISON – Wisconsin’s seasonally adjusted unemployment rate for August was estimated at 5.2 percent, up four-tenths of a percentage point from July’s final rate and seven-tenths higher than the August 2001 figure. The national unemployment rate for August was 5.7 percent, down two-tenths from July. The state’s unadjusted unemployment rate for August is unchanged from the July figure at 4.7 percent.
"There were 2,850,500 jobs reported in Wisconsin’s nonfarm wage and salary economy for August, a slight increase from the July figure of 2,846,200," said DWD Secretary Jennifer Alexander. "This included an increase in manufacturing, where 2,200 jobs were added – a good sign in an industry sector that has been hit hard by the national recession," she said.
Most employment sectors in Wisconsin reported small to moderate gains in job totals last month Services saw a 4,700 job increase, a slightly larger increase than normal. Leading the way for services was the business service sector. Government jobs decreased from 388,400 in July to 382,300 in August, a slightly greater drop than normal for this time of the year. Construction and mining dropped 500 jobs between July and August, but remained very strong. The jobs in construction and mining represented the highest August figure ever for Wisconsin. Trade showed a modest increase, increasing some 3,200 jobs. This is very close to the seasonal norm.
Terry Ludeman, the department’s chief economist, said that August is a month in which the seasonally adjusted unemployment rates tend to be slightly higher than the non-seasonally adjusted series. "Since 1985, the average seasonally adjusted unemployment rate is four-tenths of percentage point higher than the non-seasonally adjusted rate for August. This is independent of the unemployment rate decreasing or increasing over the month," he said.
Initial claims for unemployment insurance have been up slightly over the past five weeks from a comparable period from one year ago, attesting to a continued sluggish job market. This is the period from August 11 through September 14.
August employment and unemployment figures for individual counties should be available on September 25. This release also is available at www.dwd.state.wi.us/lmi.
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|Division of Administrative Services |
Content Contact: Terry Ludeman