MMAC: Milwaukee-area economy still sluggish - Business First of Louisville:

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Only three of 20 Apri l indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economif Trends report. "The employment situation continued to deterioratd with deepening job declines and unemployment indicators over doublde what they were one year saidBret Mayborne, economic research director for the MMAC. "Buy metro area existing homes sales rose for only the secone time in nearly three yearsx giving some hopefor near-ter improvement in a stagnantf local housing and real estate market." Nonfarmk employment in the metroo area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compared with year-agop levels in each of the past 12 months, with April’a decline being the steepest registered in this the MMAC said. Only two of 10 majore industry sectors registered April job gains comparecd with oneyear ago, while eight registered declines. Unemploymentg indicators for the metro area both measuredf more than twicetheirr year-earlier levels. The numbert of unemployed in metro Milwaukeerrose 117.6% against year-ago levels, to 70,300 comparedf with 32,300 in April 2008. Likewise, new unemployment compensation claima rose ata 104.
6 percent rate in Apri to 12,101, this indicator’s thirxd consecutive year-over-year increase of 100 percentf or greater. On the positive side, existingh homes sales for the metro arearose 5.6 percent in April, the firstr year-over-year increase in this indicator in seven monthw and only the second such gain in nearlhy three years.