The Wisconsin Department of Workforce Development says the unemployment rate has improved slightly, dropping to seven-percent in May. The new number is one-tenth of a percent lower from April.
In Lincoln County the May unemployment rate was 9.7 percent or 3 tenths lower than May of 2012. The new statistics released Thursday also shows over 10-thousand jobs were added in the construction industry, with fewer job growth in government positions. The national unemployment rate is at seven-point-six percent.
The most accurate count of jobs data, the Quarterly Census of Employment and Wages (QCEW), is based on a census of approximately 95-96 percent of Wisconsin employers. Key highlights of the actual job counts for 2011-12 include:
*After losing 134,000 jobs, Wisconsin gained over 62,000 private sector jobs in the last two years.
*The private sector job gains under Governor Walker are the best two-year gains under any Governor in over a decade.
*Wisconsin created more manufacturing jobs in the last two years than in either of the last two Governors’ terms.
*Initial unemployment insurance claims are at pre-recession levels.
*Whether increased revenue collections, lower Unemployment Insurance claims, or more new business formations, all economic indicators show Wisconsin is creating jobs.
*In 2012, Wisconsin had the largest growth in construction jobs in over a decade.
*Wages by private employers grew by 6.2 percent in the fourth quarter of 2012 compared to the fourth quarter of 2011, up to $26 billion from $24.5 billion.