Midwest Memo: Wisconsin reports job growth, U.S. sells Chrysler, and high-speed rail’s future

Three stories making news across the Midwest today:

1. Wisconsin reports job growth. Citing a resurgent tourism industry, Wisconsin officials reported a gain of 12,900 private-sector jobs from May to June. It’s the largest one-month gain in the Badger state in nearly eight years, according to the Milwaukee Journal Sentinel. But the state’s unemployment rate nonetheless ticked upward from 7.4 percent in May to 7.6 percent in June. Gov. Scott Walker noted that Wisconsin’s growth accounted for nearly half of the nation’s job creation.

2. U.S. sells stake in Chrysler. Italian automaker Fiat purchased the U.S. government’s remaining stake in Chrysler on Thursday, a move that ends federal involvement with the automaker. Fiat paid $560 million to the Treasury Department in exchange for its 98,000 shares, according to our partner Michigan Radio. The government had helped rescue the automaker from bankruptcy, with Chrysler receiving $12.5 billion. Of that amount $11.2 has been repaid.

3. Is high-speed rail dead? That’s the opinion of The Urbanophile’s Aaron M. Renn, who argues that a poorly executed federal plan combined with Republican resistance at state levels has crippled the future of high-speed rail in the U.S. More than $8 billion in funds were provided in President Obama’s stimulus package, but major initiatives still aren’t off the ground. “It’s time to take a major gut check on high speed rail in America and re-think the direction,” Renn writes.

Leave a Reply