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Economist: Wisconsin's jobless rate falling for the right reasons

Unemployment graphic (Reuters)
Unemployment graphic (Reuters)

MILWAUKEE (WTAQ) - An economist says Wisconsin's unemployment rate is dropping for the right reasons, unlike the nation as a whole.  

Wells Fargo portfolio strategist Brian Jacobsen said employment is actually increasing in the Badger State -- while the national rate is dropping because more discouraged job seekers are leaving the labor force.  

State officials said Thursday that the seasonally-adjusted jobless rate was 5.8 percent in April. It's a half-point below the national rate, and the lowest figure since October of 2008 when the Great Recession was just starting to take hold.  

Marquette professor Abdur Chowdhury said the new numbers reflect a state economy that's recovering gradually. He did note a lack of job growth in the construction industry.  

Chowdhury also tells the Milwaukee Journal Sentinel that Governor Scott Walker's campaign promise to create 250,000 private sector jobs during his current four-year term seems "unachievable."  

State Workforce Development Secretary Reggie Newson hailed the creation of 101,000 jobs since 2010 but said more needs to be done.  

The campaign of Walker's main Democratic challenger, Mary Burke, said last year's job numbers were worse than the previous two years -- and it shows that Walker's approach is not working.

(Story courtesy of Wheeler News Service)

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