There is little doubt that the three counties of Central Wisconsin have experienced substantial growth over the past twelve months. Regional economic indicators tell a consistent story of job creation and growth. One small cloud on the horizon has been a nagging question about the quality of jobs being created. However, healthy expansion has taken place in the traditionally higher-paying manufacturing sector and research shows that some lower paying jobs supplement family income, in the process raising the standard of living for the community. Furthermore, a region or community is often limited in determining the kinds of jobs being created by its resource endowments and macroeconomic events at national and international levels.

     The unemployment rate in Marathon and Wood counties fell to 5.8 percent and 7.4 percent respectively. See Table 2. These rates are the lowest for first quarter in nearly twenty years. Although the Portage County unemployment rate rose from 6.4 percent to 6.9 percent, it stands, nonetheless, at the second lowest level recorded for first quarter during the past several decades. Due to commuting and other economic linkages among the communities, it is important to examine aggregated regional statistics. An example is the overall Central Wisconsin unemployment rate which, for this time of year, stands at a record low level of 6.6 percent. The nation and state also experienced declines in unemployment rates demonstrating the broad-based nature of the economic expansion.

     Table 3 shows area employment data. All the reported numbers are records for this time of year. Portage, Marathon, and Wood county payrolls expanded at healthy rates. Perhaps, for reasons previously stated, a more important figure and a better economic indicator is the Central Wisconsin employment number. The 6700 jobs created in the three county area since first quarter 1988 represent an amazing 5.5 percent increase.

    Table 4 disaggregates Central Wisconsin nonfarm employment into the major industrial classifications. Services led the expansion with a gain of 2800 positions, manufacturing contributed 1600, and trade and construction also posted respectable gains. Only government employment declined from a year ago and this is most likely due to reporting errors involving state government employment numbers in Portage County. Overall, 5400 new nonfarm jobs were created for a very robust gain of 5.4 percent. With most classifications showing record levels of employment there. can be little doubt that the regional economy expanded nicely during first quarter.

    Key industry employment numbers are listed in Table 5. These industries serve as barometers in determining regional economic conditions. The finance, insurance and real estate sector created 700 new positions over the past twelve months to pace all key industries. Food processing, lumber and wood products, and paper products all made impressive strides forward. 1400 more jobs now exist in these backbone industries than at this time last year - a growth rate of approximately 5.6 percent.

    The CWERB survey of regional business executives is presented in Table 6. The group perceives economic conditions at the national level and the local level to be essentially unchanged. With regard to the future, the consensus is that matters will not change to any great degree in the months ahead. Given the upswing in local conditions over the past several years, the expectation of no great deviation from this path is good news for area citizens.