Wisconsin Unemployment

Wisconsin, known as the state of cheese and its economy has become a cheese sandwich in the mouth of jinni of unemployment. Basically the economy of Wisconsin depends upon its farming, manufacturing and agriculture and intimately there is a record decline of 89,600 jobs in Wisconsin during the last 12 months.

Wisconsin experiencing its worst period regarding the highest unemployment rate during this recession. 27 years record of highest rate of unemployment has broken down according to a statement released on Wednesday from Department of Workforce Development unemployment rates for June 2009.

In June 2008, the rate of unemployment was 4.7 % and now in June 2009 it has almost doubled the rate of unemployment. The increase in unemployment numbers is seen from May to June in all 12 Wisconsin’s metropolitan statistical area (MSA) and each metropolitan area had higher unemployment rates as compared to the same time last year; however, the lowest increase in unemployment at 6.6 % was experienced in The Madison area while the highest rates at 13.2 % have seen in Janesville.

Department of workforce development ( DWD) secretary Roberta Gassman said “In June , Wisconsin experienced a mostly seasonable bump in unemployment as students and other entered the job market looking for summer employment”.

The national unemployment rate in June was 9.7 percent, this is strange to me that if the strongest economy of the world is suffering from such higher rate of unemployment, then god know what rest of the world is going to do if this ratio keep on increasing.