National economic statistics are presented in Table 1. Real Gross National Product decreased from $4155.1 to $4128.4 for a 0.6 percent decline from last year indicating that the dollar amount of goods and services produced has contracted from twelve months ago. Another measure of overall economic activity is industrial production. The index shows that the nation's factories produced nearly 3 percent fewer goods this quarter than during second quarter 1990. Interest rates, as proxied by the three month U.S. Treasury Bill rate, fell from 7.78 percent to 5.58 percent over the past year reflecting a slowing economy. And inflation, as measured by the CPI, is up 6 percent from a year ago, although the upward trend has been moderating during the past several months. 

     Unemployment rates in Marathon, Portage, and Wood Counties have risen sharply reaching the mid to upper 5 percent range. The 5.6 percent composite rate for the region is very good when compared to historic norms. The United States unemployment rate, on the other hand, now has reached nearly 7 percent. Thus, this measure of economic performance suggests that Central Wisconsin is weathering the economic storm reasonably well. 

     Employment for each county continued to rise over the past year. Portage, Marathon, and Wood Counties are estimated to have about 1200, 400, and 2000 more people employed than a year ago. This differs from what is being reported at the state and national levels, where employment gains are nonexistent. For the region as a whole the employment total rose from 127.8 to 131.8 thousand. 

     In the nonfarm industrial classifications nearly 2400 more people were employed in June 1991 than in June 1990. Services added about 1300 workers, trade 400, and government 600. However, manufacturing and construction, which are very sensitive to business cycle fluctuation registered slight decreases or no change in employment. As forecasted in earlier reports our area is holding up very well to the current iteration of the business cycle. 

     The vitally important key sector industries recorded a decent gain of 1.7 percent. Paper products and finance, insurance, and real estate managed to keep the economic ball rolling by posting gains of 1.0 percent and 7.7 percent respectively. On net the key industries of Marathon, Portage, and Wood Counties added 500 new jobs to locals payrolls. This bodes well for our area given that these industries support many spin‑off types of employment such as in the retail trade and service sectors. 

     Business leaders in the area tell the CWERB that the national economy has improved somewhat over the last several months while the local situation is about the same or perhaps a bit softer. However, this group is quite optimistic about the future of the national and local economies and about their particular industries. The latter, of course, bears most directly on our local prosperity. 

     The Marshfield area is quite clearly being influenced by the waning national recession. Some of the local layoffs are a direct result of softening demand and/or stiff international competition for many types of locally produced goods and services. With the national economy showing signs of pulling out of the doldrums, the long term forecast for the area is for a brighter economic picture to develop later this year.