Saturday, December 29, 2012

MMAC: Milwaukee-area economy still sluggish - Philadelphia Business Journal:

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Only three of 20 Aprilk indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economicc Trends report. "The employment situation continued to deteriorats with deepening job declines and unemploymeng indicators over double what they were one year saidBret Mayborne, economic research director for the "But metro area existingv homes sales rose for only the second time in nearly threed years giving some hope for near-term improvementr in a stagnant local housing and real estate market." Nonfarm employment in the metroo area fell 4.8 percent in Aprilk to 812,300, down from March’s 4.
3 percent Employment levels have now declined compared with year-ago leveld in each of the past 12 with April’s decline being the steepest registerexd in this period, the MMAC Only two of 10 major industr sectors registered April job gains comparedx with one year ago, while eight registered declines. Unemployment indicators for the metrp area both measured more than twicetheir year-earlier The number of unemployed in metro Milwaukee rose 117.6% againsgt year-ago levels, to 70,300 compared with 32,300 in Aprio 2008. Likewise, new unemployment compensation claims rose ata 104.
6 percenty rate in April to 12,101, this indicator’s third consecutive year-over-year increased of 100 percent or greater. On the positivw side, existing homes sales for the metrol arearose 5.6 percent in April, the firsg year-over-year increase in this indicator in sevem months and only the seconc such gain in nearly three years.

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