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January 2003 Unemployment Rates Released |
Contact: Terry Ludeman, 608/267-3262
JANUARY UNEMPLOYMENT RATES RELEASED
MADISON – Wisconsin’s seasonally adjusted unemployment rate for January 2003 is estimated to be 5.4 percent, down from 5.7 percent in December and equal to the rate recorded for January 2002, according to figures released today by the Department of Workforce Development. The national rate for January was estimated to be 5.7 percent, while the national seasonally adjusted rate for December was estimated at 6.0 percent.
"Last month’s decline in unemployment is a welcome sign," said DWD Secretary Roberta Gassman. "It is the goal of the department to continue to provide the array of resources and services job seekers need to secure employment," said DWD Secretary Roberta Gassman.
Labor markets in general continue to be very sluggish, as investors remain skittish and anxious about the future throughout the United States. Wisconsin’s non-farm job total was estimated at 2,716,700 in preliminary figures compared to 2,719,300 one year ago and 2,786,700 in December. The 70,000 jobs lost between December 2002 and January 2003 represents a smaller reduction than is normal for this time of year. The average reduction in Wisconsin between December and January in the period of 1990 through 2002 has been about 81,000.
Manufacturing continues to be soft for Wisconsin, estimated at 520,600 for January compared to 521,900 for December and 531,600 for January 2002. Wisconsin’s trade industry was estimated at 422,600 jobs in January compared to 438,300 in December and 430,300 in January 2002. Government employment also decreased substantially between December and January, with 401,900 jobs in January and 425,700 jobs in December. This is a somewhat larger decrease than normal, with 11,500 being the norm between 1990 and 2002. A large part of the decrease was reported in the state government sector, likely a reflection of freezes on state government hiring.
The January place of work job figures are using the North American Industrial Classification System, instead of the Standard Industrial Classification System, for the first time and comparisons to figures released prior to this report are difficult to make. The use of the new system does not affect statewide unemployment figures.
Wisconsin’s unadjusted unemployment rate for January was 6.3 percent, equal to the rate for January 2002, and up from 5.3 percent for December 2002. The national unadjusted rate was 6.5 percent for January compared to 5.7 percent for December 2002.
January employment and unemployment figures for individual counties should be available on March 5. This release also is available at www.dwd.state.wi.us/lmi.
|Division of Administrative Services |
Content Contact: Terry Ludeman