Central Wisconsin turned in a decent performance for second quarter 1988 posting a substantial (1.4 percent) decline in the unemployment rate. The region and the individual counties led the nation in this statistic. The Wisconsin mark for June was an even more impressive 4.0 percent. All the reported rates represent decade lows. Marathon County was the leader in the region with a rate of 4.3 percent, followed closely by Portage and Wood.  Table 2 summarizes unemployment statistics for the region.

     Table 3 presents data describing employment conditions in the region. All reporting areas registered increases in employment. However, growth was varied. Marathon County employment reached 59 thousand, a very respectable 5.7 percent gain from last June. Wood and Portage County payrolls rose by more modest rates, 1.1 and 0.7 percent respectively. Overall, second quarter employment gains in Central Wisconsin were modest. The region added an estimated 3.8 thousand (3.1 percent) workers to payrolls over the past twelve months and the 126.5 thousand level for the region represents an all-time high regardless of quarter. Wisconsin and United States figures also demonstrate that the economy is continuing to grow at all reporting levels.

     Table 4 provides a breakdown of nonfarm employment by major industrial sectors. Nonfarm payrolls in Central Wisconsin grew by 3.2 percent, approximately the same rate as reported for total employment. Manufacturing, as in the past several quarters, led all sectors by posting a 1300 gain. Services, trade, construction, and government grew more modestly. The manufacturing and service sectors employ more people now than at any time in the past. In sum, nonfarm employment expanded by a healthy 3,400 with manufacturing accounting for 38 percent of the gain.

     Key industry figures are presented in Table 5. Paper products, food processing, and finance, insurance and real estate payrolls improved. Only the lumber and wood products classification experienced no change. Collectively these industries grew more slowly than last year, but the overall growth rate of 3.4 percent is nonetheless respectable. Thus, as a group these important industries continue to act as a catalyst for economic development. The slower growth forecasted earlier this year has been validated by second quarter results. The lower growth rate can be attributed to a slackening of unsustainably high levels of activity during earlier periods.    

     The opinions of regional business leaders are recorded in Table 6. According to regional executives, national and local economic conditions have improved dramatically. In stark contrast, the business leaders expressed less optimism about economic prospects for the country and region six months from now. Last quarter's responses were markedly higher. Finally, this group felt that matters would be slightly better in their industries six months from now. Once again this is a less optimistic view than recorded in March. However, conditions may be so good now, that the chance of further improvement is slight.