LA CROSSE, WI (WXOW)— Five years ago, Monday, financial meltdown rocked Wall Street, leading to the worst economic crisis since the Great Depression.
Regional Labor Market Analyst Bill Brockmiller said La Crosse is ahead of the curve.
President Obama marked the anniversary Monday.
"The unemployment rate has gone down," Pres. Obama said. "Our housing market is healing. Our financial system is safer. We sell more goods made in America to the rest of the world than ever before. We generate more renewable energy then every before. "
The president said it's now up to congress to keep the positive trend going.
Pres. Obama said they want to focus on growing the economy and building up the middle class.
La Crosse's unemployment rate in July was 5.4 percent.
Brockmiller said the bad news is we still lost five years catching up the economy when we could have been growing.
He said a diverse economy has helped La Crosse because if one industry crashed it didn't affect us as much.
Healthcare for example, Brockmiller said, is more resistant to the recession because we always need it.
"No matter what the rest of the economy is doing, they don't stop getting sick," Brockmiller said. "When the economy goes bad, while you might put off a new car purchase, you can't generally especially serious surgery."
We're back to the place now where we have the same number of jobs available as we did in 2008.
But there are more people looking for those jobs so we still have some catching up to do.
At the Job Center on Monday, they had 42,617 jobs posted.
In July of 2008, Wisconsin's unemployment rate was 4.7-percent.
This July it was 6.8 percent, below the national average of 7.4-percent.
All content © Copyright 2000 - 2013 WorldNow and WXOW. All Rights Reserved.
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Theresa Wopat at 507-895-9969. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at email@example.com.