October Unemployment at 2.6%

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St. Croix County’s October Unemployment Rate is 2.6%

On November 23rd, the Wisconsin Department of Workforce Development (DWD) announced the preliminary October 2022 unemployment rates for Wisconsin’s 72 counties and the 35 cities with populations greater than 25,000 residents. St. Croix County’s October rate was estimated at 2.6%, which is lower than the final rate of 2.9% for both September and August. One year ago, the county’s unemployment rate was estimated at 2.3%.

DWD said preliminary unemployment rates from September to October declined or stayed the same in 71 of the 72 counties. Rates declined or stayed the same in 10 of the 72 counties year-over-year. The current rates range from 2.2% in Calumet 5.9% in Menominee.

Preliminary unemployment rates from September to October decreased or stayed the same in all of Wisconsin’s 35 largest cities. Year-over-year, the rates declined or stayed the same in 14 cities. Rates ranged from 2.0% in Sun Prairie to 4.5% in Milwaukee and Racine.

The five counties with the lowest unemployment rates in October include Calumet (2.2%), Clark (also at 2.2%), Dane (also at 2.2%), Iowa (also at 2.2%), and Eau Claire (2.3%). Menominee had the highest rate in October at 5.9%, followed by Iron (4.9%), Forest (4.7%), Adams (4.4%), and Milwaukee (4.0%).

St. Croix, Pierce, and Polk counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 2.6%, October’s preliminary rate in Pierce was 2.7% and Polk’s rate was 2.9%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The October 2022 unemployment rate for the Twin Cities was estimated at 1.7%, which is lower than September’s final rate of 1.9% and August’s final rate of 2.2%. The unemployment rate for the Twin Cities was 2.4% in October 2021.

Nearby Washington County in Minnesota reported a preliminary rate of 1.6% for October, while Dakota County, MN reported a rate of 1.6% and Chisago County MN had a rate of 1.7%.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in October was estimated at 3.3%, which is higher than the final rate of 3.2% for September and 3.1% for August’s final rate. One year ago, the state’s seasonally adjusted rate was 3.2%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota for October was estimated at 2.1%, which is higher than September’s final rate of 2.0% and August’s final rate of 1.9%. Minnesota’s seasonally-adjusted rate one year ago was 3.1%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for October was estimated at 3.7%, which is higher than September’s final rate of 3.5%, but the same as August’s final rate. One year ago, the U.S. rate (seasonally adjusted) was estimated at 4.6%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for October was estimated at 65.3%, which is lower than September’s final rate of 65.6% and August’s final rate of 65.9%. One year ago, Wisconsin’s labor force participation rate was 66.4%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in October was estimated at 62.2%, which is lower than September’s final rate of 62.3% and August’s final rate of 62.4%. One year ago, the labor force participation rate in the U.S. was 61.7%.

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

EDC Recognizes Apprenticeship Week

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EDC Recognizes Apprenticeship Week

Photos (top left): Eric Lockwood of Northwood Technical College (blue shirt) helped coordinate a stop at Comar in Woodville, Wisconsin (top right): St. Croix EDC, CESA #11, and the Glenwood City school district visited Green Kleen Products during National Apprenticeship Week (bottom left) Students Emma McCorison and Owen Nyberg with head teller Kevin Hoeft (holding proclamation) and President, CEO and Chairman Todd Schultz (right) at River Falls State Bank (bottom right) The St. Croix EDC Business Retention Committee visited McDonalds in River Falls to recognize (l to r) student Kevin James, mentor Lori Hoeft and advisor Melisa Hansen.

 

The eighth annual National Apprenticeship Month was celebrated November 14-20, 2022. It is a nationwide celebration involving industry, labor, equity, workforce, education, civic, and government leaders.

The EDC helped showcase Youth Apprenticeships (YA) through school districts in the county and Registered Apprenticeships (RA) through Wisconsin’s technical colleges.

An apprenticeship provides real-life opportunities that cannot be duplicated in any other training program. They involve supervised, structured, on-the-job training and learning. With public school districts, YAs integrates school-based and work-based learning for students in employability and occupational skills, as defined by Wisconsin industries. Paid on-the-job work experience is an important part of YAs. RAs prepare skilled trades people (journey workers) to the workforce in Wisconsin. It is an earn-while-you-learn program of on-the-job training combined with trade-related classroom instruction.

St. Croix EDC made stops at River Falls State Bank (River Falls), McDonald’s (River Falls), Northside Power Equipment (Woodville), Green Kleen Products (Glenwood City), and Comar (Woodville).

Congratulations to the school districts, technical colleges, students, and employers for making the apprentice programs in the St. Croix Valley a strong and successful one.

Overcooked: Thanksgiving 2022

SCEDC BLOG

Overcooked: Thanksgiving 2022

BY BILL RUBIN, EXECUTIVE DIRECTOR

It’s a poorly kept secret that Mr. Grinch resides in Wisconsin’s St. Croix Valley. He is relieved Halloween is in the books. From mid-September through November 1st an inflatable Scary Grinch competed with Holiday Grinch for both shelf space and attention in Big Box stores. At ground-level, the cart-pushing real Grinch was mesmerized by his likenesses, causing shoppers to gather. Alas, Grinch left the Big Box in a huff. Can a Happy New Year Grinch be far behind?

Grinch shares many traits with neighbors and fellow consumers. He is not cheap or tight fisted. He watches for discounts and cuts occasional coupons. And, he embraced his Inner Nerd long ago. A three dollar item at one store purchased for two dollars elsewhere is not just a one dollar savings, it’s a thirty-three percent savings! The extra dollar is tucked into a secret coffee and taproom account, reportedly Grinch’s only known vices. Unspent change is designated for holiday shopping in November and December. Climbing out of a two-year pandemic, main street grills and shops in Whoville could use a boost and hometown booster Grinch will be the first in line.

Before official holiday shopping, Grinch will join his family for Thanksgiving. The headlines are foreboding: higher farm labor costs, soaring feed prices, another round of avian flu, supply chain woes, logistics and fuel spikes, and of course, inflation. Just like Halloween candy increasing 13 percent, the price of turkey is a reported $1.99 per pound. In 2021, the price was $1.15. Inner Nerds, that’s not just eighty-four cents, it’s a 73 percent increase! For a ten pound bird, Grinch will pay $8.40 more, meaning a likely withdrawal from the secret account, causing a chain reaction. A teetering domino tips toward fewer holiday shopping dollars, which tips another domino toward fewer transactions locally.

Grinch was reminded of other meal options. Frozen turkeys cost less than fresh ones. Alternative proteins like chicken or pork are less expensive but are not immune to rising costs. According to September’s Consumer Price Index, the price of chicken is up over 17 percent from 2021 and pork is up almost seven percent.

Other essentials for Thanksgiving dinners in Whoville are higher too, including the price of eggs (up 32.5 percent), butter (up 25.8 percent), flour (up 17.1 percent), fruits/vegetables (up only 7.3 percent), and pie, presumably pumpkin, is up over 20 percent. No word on the green bean casserole price index.

Do not despair St. Croix Valley residents. During his time here, Grinch knows valley residents are resilient. And giving. They find a way. They share their bounty, including an extra plate for the ‘seasoned’ citizens up the street or those unable to travel. Grinch pledges less coffee and taproom stops in the next couple of weeks. He’ll use the savings for the family feast, and in true Grinch fashion, he’ll put slices of pie on the neighbor’s top step and knock lightly. They’ll never know.

The adage of too many cooks in the kitchen still applies. Neither Martha Stewart nor the Grinch endorse anything overcooked. Here’s to a memorable Thanksgiving 2022.

September Unemployment Rate is 2.9%

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St. Croix County’s September Unemployment Rate at 2.9%

On October 26th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary September 2022 unemployment rates for Wisconsin’s 72 counties and the 35 cities with populations greater than 25,000 residents. St. Croix County’s September rate was estimated at 2.9%, which is the same as the final rates for both August and July. One year ago, the county’s unemployment rate was estimated at 2.6%.

DWD said preliminary unemployment rates from August to September declined or stayed the same in 57 of the 72 counties. Rates declined or stayed the same in 12 of the 72 counties year-over-year. The current rates range from 2.5% in Dane to 5.9% in Menominee.

Preliminary unemployment rates from August to September decreased or stayed the same in 25 of Wisconsin’s 35 largest cities. Year-over-year, the rates declined or stayed the same in 13 cities. Rates ranged from 2.4% in Sun Prairie to 4.9% in Beloit.

The five counties with the lowest unemployment rates in September include Dane (2.5%), Calumet (2.6%), Clark (also at 2.6%), Iowa (also at 2.6%), and Lafayette (also at 2.6%). Menominee had the highest rate in September at 5.9%, followed by Iron (5.1%), Forest (5.0%), Adams (4.7%), and Milwaukee (4.3%).

St. Croix, Pierce, and Polk counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 2.9%, September’s preliminary rate in Pierce was 3.0% and Polk’s rate was 3.2%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The September 2022 unemployment rate for the Twin Cities was estimated at 2.1%, which is higher than July’s final rate of 2.0% but lower than June’s final rate of 2.2%. The unemployment rate in the Twin Cities was 3.2% in September 2021.

Nearby Washington County in Minnesota reported a preliminary rate of 1.6% for September, while Dakota reported a rate of 1.7% and Chisago had a rate of 1.9%.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in September was estimated at3.2%, which is higher than the final rate of 3.1% for August and July’s final rate of 3.0%. One year ago, the state’s seasonally adjusted rate was 3.4%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota for September was estimated at 2.0%, which is higher than August’s final rate of 1.9% and July’s final rate of 1.8%. Minnesota’s seasonally-adjusted rate one year ago was 3.2%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for September was estimated at 3.5%, which is lower than August’s final rate of 3.7% but the same as July’s final rate of 3.5%. One year ago, the U.S. rate (seasonally adjusted) was estimated at 4.8%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for September was estimated at 65.6%, which is lower than August’s final rate of 65.9% and July’s final rate of 66.2%. One year ago, Wisconsin’s labor force participation rate was 66.5%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in September was estimated at 62.3%, which is lower than the final rate of 62.4% but higher than July’s final rate of 62.1%. One year ago, the labor force participation rate in the U.S. was 61.6%.

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