MMAC: Milwaukee-area economy still sluggish - Boston Business Journal:

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Only three of 20 April indicators registered improvementfrom year-ago levels, matching the number of upward-pointintg indicators recorded in March, the MMAC said in its Economi c Trends report. "The employment situation continue d to deteriorate with deepening job declines and unemploymenr indicators over double what they were one year saidBret Mayborne, economicc research director for the MMAC. "Buty metro area existing homes sales rose for only the secon time in nearly three years givingv some hopefor near-term improvemenft in a stagnant local housinv and real estate market." Nonfarm employmen in the metro area fell 4.8 percenr in April to 812,300, down from March’s 4.
3 percent decrease. Employment levels have now declined comparedwith year-ago levels in each of the past 12 with April’s decline being the steepest registere d in this period, the MMAC Only two of 10 major industry sectors registeref April job gains compared with one year ago, while eighrt registered declines. Unemployment indicators for the metro area both measurer more than twicetheir year-earlier The number of unemployed in metro Milwaukee rose 117.6% againstf year-ago levels, to 70,300 compared with 32,300 in April 2008. Likewise, new unemployment compensation claimsd rose ata 104.
6 percent rate in April to this indicator’s third consecutive year-over-year increasde of 100 percent or greater. On the positives side, existing homes sales for the metrok arearose 5.6 percent in the first year-over-year increase in this indicato r in seven months and only the second such gain in nearlgy three years.