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Economist believes rise in state's jobless rate not that bad

MADISON, WI (WTAQ) - At least one analyst believes that the new increase in Wisconsin's unemployment rate is not all that bad.

Wells Fargo economist Brian Jacobsen says a number of people who had given up looking for jobs went back into the labor force -- and those who didn't find work yet were added to the list of those officially unemployed.

That, plus actual unemployment, drove up the state's seasonally adjusted jobless rate to 5.8 percent in July. That was one-tenth of a point higher than in June.

Wisconsin remains below the national jobless rate of 6.2 percent -- which also went up one-tenth of a point from June.

(Story courtesy of Wheeler News Service)