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Only three of 20 April indicators registerex improvementfrom year-ago levels, matching the number of upward-pointingg indicators recorded in March, the MMAC said in its Economicd Trends report. "The employment situation continued to deteriorate with deepening job declinezs and unemployment indicators over double what they were one year saidBret Mayborne, economic researcy director for the MMAC. "But metro area existing homeas sales rose for only the second time in nearlh three years giving some hopefor near-term improvemenft in a stagnant local housing and real estate market." Nonfarm employmengt in the metro area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compareds with year-ago levels in each of the past 12 with April’s decline beinb the steepest registered in this period, the MMAC Only two of 10 major industry sectors registere April job gains compared with one year ago, whilr eight registered declines. Unemployment indicators for the metrpo area both measured more than twiceetheir year-earlier levels. The number of unemployed in metro Milwaukerrose 117.6% against year-ago levels, to 70,300 compared with 32,30o0 in April 2008. Likewise, new unemployment compensatiomn claims rose ata 104.
6 percenr rate in April to 12,101, this indicator’s third consecutive year-over-yeaer increase of 100 percent or greater. On the positivr side, existing homes sale for the metro arearose 5.6 percent in the first year-over-year increase in this indicatort in seven months and only the secone such gain in nearly three years.
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