This quarter's report contains several interesting economic indicators. For example, residential construction in the area continues to expand and develop at a brisk rate. Pushed forward by low interest rates, available land, and a healthy economy, new records continue to be established. However, at some point in time, housing demand will be satisfied in the area and activity inevitable will be curtailed. Another interesting facet to this quarter's report is that total employment and industrial sector employment each grew by a respectable 1.8 percent. Given the problems that are plaguing other regions of the country, this is welcome news. Another item of interest is the leveling off and slight contraction in the number of public assistance and unemployment claims over the course of the year. Both measures indicate the relative stability of the local economy. 

     Table 7 for Stevens Point shows that employment increased in three industrial categories, declined in one, and remained unchanged in the other. The sectors expanding over the past twelve months were services, up by 490; trade, up by 100; and construction, up by 150 jobs. Only manufacturing fell off the pace of last year, declining by 200 jobs or 4.1 percent. Government employment remained unchanged at 5600. Overall, industrial sector employment grew by 540 or 1.8 percent from last year. 

     Local merchants tell the CWERB that sales and store traffic were better this year than last (Table 8). The confidence levels were much higher this quarter than in March. Retail activity in the future, however, is expected to remain about the same, with retailers somewhat less optimistic than in last quarter's report. 

     Help wanted advertising in Table 9 is a barometer of local labor market conditions. The index tells us that there are currently 2.45 jobs being advertised in the local area for every one job in 1980. Further, there are approximately 3.5 percent fewer jobs being advertised than a year ago. The United States help wanted index rose by nearly 11 percent from 91 to 101 signaling a slight improvement in the job market since last year. While this index captures only a small portion of the job opportunities available, it is nonetheless a useful indicator in divining labor market conditions. 

     Table 10 and Table 11 are measures of local family financial distress. Initial public assistance claims on a monthly average bases fell by 3 cases from 193 to 190. Further, the total caseload declined from 1835 to 1826 or about 0.5 percent. Thus, we have some slight improvement over last year's totals. In the category of unemployment claims, new claims fell from 55 to 41 or by 25.5 percent. Meanwhile, total unemployment claims dropped from 146 to 136, a 6.8 percent decline. 

     Low interest rates and a healthy local economy are pushing residential construction ahead in our area (Table 12). Residential permits issued, the estimated value of new construction, the number of new housing units, and the number of residential alteration permits issued were much above last year's robust totals. Only the value of residential alterations was lower than a year ago. Increases in the first four categories came to 8.4, 42.1, 5.9, and 25 percent respectively over second quarter 1992. It should be noted that last year's totals for the area were quite substantial. 

     For nonresidential construction in the Stevens Point‑Plover area Table 13 shows that 10 permits for new structures were issued with an estimated value of $1,919 thousand and 49 business alteration permits were issued totaling $6,597 thousand. Please note that percentage changes from the previous year are not presented due to the volatile nature of nonresidential investment activity. 

     Financial statistics are presented in Table 14. Bank deposits increased from $320.1 million to $323.7 million over the course of the year. This gain of $3.6 million represents an increase of about 1 percent. Bank lending in our sample jumped from $257.8 to $261.9 million or by $4.1 million. The increase is probably understated due to the selling of loans to the secondary market on the part of banks in order to replenish local lending ability.