February 2018 Unemployment

Trending News

St. Croix County’s February Unemployment Rate at 3.6%

On March 28th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary February 2018 unemployment rates for Wisconsin’s 72 counties and the 32 cities with populations greater than 25,000 residents. St. Croix County’s rate was estimated at 3.6%. For comparison, St. Croix’s final rate for January was 3.3% and December’s final rate was 2.8%. One year ago, the county’s unemployment rate was estimated at 4.3%.

DWD said preliminary unemployment rates for February decreased in all 72 counties when compared to February 2017. Fifty-eight (58) of the 72 counties tied or reached their lowest February unemployment rates on current record. The rates ranged from 2.3% in Dane County to 7.1% in Iron.

The February 2018 preliminary unemployment rates decreased in all of Wisconsin’s 32 municipalities with population bases of least 25,000 residents when compared to February 2017. Twenty-two (22) of the 32 largest municipalities reached their lowest February unemployment rates on current record. Rates ranged from 2.1% in Fitchburg and Madison to 4.8% in Racine.

Dane County had the lowest rate in February at 2.3% followed by Ozaukee (2.5%), Sheboygan (2.7%), Washington (also at 2.7%), and Waukesha (also at 2.7%). Iron County had the highest rate in February at 7.1%, followed by Bayfield (6.3%), Adams (also at 6.3%), Burnett (6.0%), and Sawyer (5.6%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix referenced above, February’s preliminary rate in Dunn was estimated at 3.7% followed by Pierce at 4.0% and 5.0% in Polk. The current rates in all four counties are lower than the rates for February 2017.

St. Croix and Pierce counties are included in the 16-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The February 2018 unemployment rate for the Twin Cities was estimated at 3.3%, which is lower than the final rate of 3.4% for January, but higher than December’s final rate of 2.9%. The unemployment rate in the Twin Cities was 4.2% in February 2017.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in February was estimated at 2.9%, which is lower than the final rate of 3.1% in January and December’s final rate of 3.2%. One year ago, the state’s seasonally adjusted rate was 3.4%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in February 2018 was estimated at 3.2%, which is lower than the final rates of 3.3% for January and December. Minnesota’s seasonally adjusted rate one year ago was 3.7%.
The preliminary (seasonally adjusted) unemployment rate in the U.S. for January was estimated at 4.1%, which is the same as the final rate for both December November. One year ago the U.S. rate (seasonally adjusted) was estimated at 4.7%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for February 2018 was estimated at 68.6% which is higher than the final rate of 68.5% for January and the same as December’s final rate (68.6%). One year ago, Wisconsin’s labor force participation rate was 68.3%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in February was estimated at 63.0%, which is higher than the final rates of 62.7% for both January and December. One year ago, the labor force participation rate in the U.S. was 62.9%.

February’s estimates are preliminary and are subject to revision within the next few weeks.

February 2018 Unemployment Table
February 2018 Participation Rate
February 2018 Unemployment Comparison

Check the Receipt: Pennies Grow to Millions

SCEDC BLOG

Check the Receipt: Pennies Grow to Millions

BY BILL RUBIN, EXECUTIVE DIRECTOR

With life’s hectic pace, very few consumers pay attention to receipts from retailers. Clearly noted at the bottom of a receipt is a reference to “State Tax” and “Local Tax”.

Wisconsin collects a sales and use tax of five percent and almost all of the 72 counties impose an additional half-of-a-percent tax. St. Croix County’s optional tax has been on the books for decades. Other counties are still coming to the party. Brown County began its half-cent tax on January 1, 2018 and Calumet will begin collecting on April 1.

A one dollar purchase of a taxable item results in the collection of an extra five and one-half cents. No big deal, perhaps, until a consumer makes a major purchase. A ten thousand dollar purchase means the state gets five hundred dollars and the county’s share is fifty dollars.

A recent receipt disclosed twenty-six cents assigned to the state’s sales tax and three cents to the county. Loose change? Maybe not. In the first two months of 2018, St. Croix received $1.263 million as its sales tax distribution from the Wisconsin Department of Revenue, including around $832,000 in February, likely tied to holiday shopping in November and December. In 2017, Revenue sent St. Croix $7.63 million in distributions, up from $7.26 million in 2016. In 2012, St. Croix received $5.44 million in sales tax distributions. Nice upward trends. Local and area consumers are spending, and retailers are selling their products.

The additional sales tax is a good source of revenue for a growing county like St. Croix with its long list of wants and needs. Without the extra tax, funding for the wish list items would fall to taxpayers, including homeowners, commercial, industrial, and farms properties.

Next time you’re handed a receipt, glance at the bottom before it’s tucked into a pocket. It’s clear that three cents here and there to the county add up!

January 2018 Unemployment

Trending News

St. Croix County’s January 2018 Unemployment Rate at 3.3%

On March 14th, 2018, the Wisconsin Department of Workforce Development (DWD) announced the preliminary January 2018 unemployment rates for Wisconsin’s 72 counties and the 32 cities with populations greater than 25,000 residents. St. Croix County’s rate was estimated at 3.3%. For comparison, St. Croix’s final rate for December was 2.8% and November’s final rate was 2.5%. One year ago, the county’s unemployment rate was estimated at 4.0%.

DWD said preliminary unemployment rates for January decreased in all 72 counties when compared to January 2017. Sixty-one (61) of the 72 counties tied or reached their lowest January unemployment rates on current record. The rates ranged from 2.2% in Dane County to 6.0% in Iron.

The January 2018 preliminary unemployment rates decreased in all of Wisconsin’s 32 municipalities with population bases of least 25,000 residents when compared to January 2017. Twenty (20) of the 32 largest municipalities reached their lowest January unemployment rates on current record. January’s rates ranged from 2.1% in Fitchburg and Madison to 4.3% in Racine.

Dane County had the lowest rate in January at 2.2% followed by Lafayette (2.4%), Ozaukee (also at 2.4%), Sheboygan (2.5%) and Washington (2.6%). Iron County had the highest rate in January at 6.0%, followed by Bayfield (5.6%), Adams (also at 5.6%), Burnett (5.3%), and Forest (4.8%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix referenced above, January’s preliminary rate in both St. Croix and Dunn was estimated at 3.3% followed by Pierce at 3.5% and 4.4% in Polk. The current rates in all four counties are lower than the rates for January 2017.

St. Croix and Pierce counties are included in the 16-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The January 2018 unemployment rate for the Twin Cities was estimated at 3.4%, which is higher than the final rate of 2.9% for December and November’s final rate of 2.4%. The unemployment rate in the Twin Cities was 4.2% in January 2017.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in January was estimated at 3.1%, which is lower than the final rate of 3.2% for both December and November. One year ago, the state’s seasonally adjusted rate was 3.5%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in January 2018 was estimated at 3.3%, which is the same as December’s final rate, but higher than November’s final rate of 3.2%. Minnesota’s seasonally adjusted rate one year ago was 3.8%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for January was estimated at 4.1%, which is the same as the final rate for both December November. One year ago the U.S. rate (seasonally adjusted) was estimated at 4.8%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for January 2018 was estimated at 68.5%, which is lower than the final rate of 68.6% for December and November’s final rate of 68.9%. One year ago, Wisconsin’s labor force participation rate was 68.1%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in January was estimated at 62.7%, which is the same as the final rates for December and November. One year ago, the labor force participation rate in the U.S. was 62.9%.

January’s estimates are preliminary and are subject to revision within the next few weeks.

January 2018 Unemployment Table
January 2018 Unemployment Comparison
January 2018 Participation Rate

Serious Spending

SCEDC BLOG

Serious Spending

BY BILL RUBIN, EXECUTIVE DIRECTOR

Tracking spending habits is likely neither an art nor a science. For decades, retailers have relied on pricey market research from advisors before decisions are made to invest in a particular community or region. Advisors help answer questions about the ability of consumers to support a new store or the latest franchised restaurant. One part art; one part science.

The state’s lead economic development organization, WEDC, now gives casual browsers the opportunity to see track and compare consumer spending habits, starting at a community level or expanding the observations to county levels and beyond. WEDC contracts with Applied Geographic Solutions (AGS) to make this happen. AGS says it’s the leading supplier of premium demographic, risk and marketing databases, making the company a big part of the science behind consumer spending estimates.

From WEDC’s website, here are a couple examples, courtesy of AGS. Within a five mile radius around St. Croix County, an estimated $2,332 per household is spent on apparel each year, and women’s apparel expenditures leads all categories at $764 per household. Around $453 per household is spent on men’s apparel. Without starting an argument, one number seems really low and the other really high. Draw your own conclusions. An estimated $9,682 per household is spent on food and beverages, and of that total, $3,931 is spent annually on food away from home. Another $663 is spent on alcoholic beverages. Because St. Croix County residents are mostly commuters (“road warriors”) it may come as no surprise that county households spend $3,585 on gasoline and oil each year. In an “oops” category, AGS suggests $339 per household is spent on cigarettes. Oops.

AGS also offers insights into retail potential, suggesting $4,614 per household could be attributable to new car dealers, or $7,498 for grocery stores, or $3,618 for department stores. Good news for mail order and catalog stores, the retail potential in greater St. Croix County is estimated at $2,731 per household.

Given St. Croix’s close proximity to the Twin Cities, area residents generally have high incomes and strong consumer spending per household is reflected. The sale of goods and services as a convenience may also align with busy lifestyles, as in “What are we making tonight, besides reservations?”