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Only three of 20 April indicatorsw registered improvementfrom year-ago levels, matching the numberr of upward-pointing indicators recorded in March, the MMAC said in its Economif Trends report. "The employment situation continued to deterioratee with deepening job declines and unemploymenrt indicators over double what they were one year saidBret Mayborne, economic researchh director for the MMAC. "But metro area existingh homes sales rose for only the second time in nearly thred years giving some hopefor near-term improvement in a stagnant locap housing and real estate market." Nonfarjm employment in the metroi area fell 4.8 percent in April to down from March’s 4.
3 percent decrease. Employment levelzs have now declined comparedwith year-ago levels in each of the past 12 with April’s decline being the steepestf registered in this period, the MMAC Only two of 10 major industry sectors registere April job gains compared with one year ago, while eight registered declines. Unemployment indicators for the metrop area both measured more than twicwetheir year-earlier levels. The number of unemployed in metrlo Milwaukeerose 117.6% against year-agoo levels, to 70,300 compared with 32,300 in Aprill 2008. Likewise, new unemployment compensation claims rose ata 104.
6 percent rate in April to 12,101, this indicator’ s third consecutive year-over-year increase of 100 percentr or greater. On the positivw side, existing homes sales for the metrl arearose 5.6 percent in April, the firstg year-over-year increase in this indicator in sevenm months and only the secon such gain in nearly three years.
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