Table 1 presents this quarters national economic statistics. Real Gross Domestic Product grew by 2.6 percent in a year over comparison. The nation's factories became slightly busier over the past year. The Federal Reserve estimates that activity accelerated by approximately 1.8 percent. Interest rates have continued their decade long downward trend. From last year, three month Treasury bill rates have fallen by approximately half a point. Lastly, inflation appears to be under control. Since this time last year the cost of living has risen by a manageable 3 percent.
 

     The directions of the unemployment rates in the three county area were somewhat at odds with each other. The unemployment rate in Marathon County increased slightly from a year ago, while the Portage County rate, which remained unchanged from last year, was still a full percentage point above that of Marathon County. Wood County, however, registered a decrease from 6.4 to 5.8 percent. The Wisconsin unemployment rate continues to remain well below that of the nation, underscoring the success of the Wisconsin economy in this period of national uncertainty.

     Employment levels in Portage and Wood Counties climbed above last year's marks. Specifically, Portage County employment rose by 600 positions to 34.4 thousand and Wood County by 600 persons to 38.5 thousand. However, Marathon County experienced a rare drop in employment falling by 400 positions to 63,900. For Central Wisconsin as a whole, this activity translates to a gain of just 0.6 percent. In other words, employment rose from 136.0 to 136.8 thousand in the year over comparison period. Wisconsin employment growth was only slightly better at 0.8 percent when compared to second quarter 1992.

     Industrial sector employment expanded by 1.3 percent since June 1992. This represents a gain of 1600 people to area payrolls. To be more specific, services, trade, and construction employment were higher by 2.4, 3.8, and 8.2 percent respectively, with manufacturing and government employment down by 1.3 and 3.0 percent. There are now 125.7 thousand people employed in these regional sectors, an increase of 1.3 percent from last year. Once again it appears that the area is doing well economically.

     Key industries employment grew from 29,200 to 29,700 since June of 1992. Lumber and wood products employment expanded to 6.0 thousand from 5.9 thousand. Finance, insurance, and real estate also expanded from 8.7 to 9.5 thousand. However, the important paper products and food processing sectors declined from 10.3 to 10.2 and 4.3 to 4.0 thousand respectively. Thus there was a net gain of only 500 jobs for the region's key industries.

     Business confidence has fallen off over the past quarter. Compared to March, the June responses were much less optimistic in all categories. Perhaps the sharpest drop in confidence comes in the area of recent economic changes at the national level. This group must believe that developments in Washington with regard to the budget, such as higher taxes, are going to be detrimental to the economy.

     In general, the Wausau area economic indicators were mixed. The unemployment rate rose, and total employment fell in the area. However, the industrial sectors gained 2.2 percent or 1200 positions from last year. Further, other indicators of economic activity painted a varied portrait of the local economy. This suggests that there is a great deal of stability in the economy, but it also says that there is little forward momentum.