The Central Wisconsin economy continued to expand during second quarter 1994. In general, the unemployment rates in the region were lower in a year over comparison. At the same time, employment rose, but at a modest 2.4 percent. R now stands at 139.3 thousand in the region. Along similar lines, the industrial sector employment posted an overall gain of 2.4 percent, with approximately 3000 jobs being added to local payrolls. The leading category was and continues to be the services sector with 2100 positions being added out of the total of 3000.

     Key sector employment in the region grew but by a very modest 1.0 percent or 300 net positions. The largest gain in employment was registered by the finance, insurance, and real estate sector. Business leaders remain moderately confident concerning the future. The level of optimism, however, was virtually unchanged from March.

     For the most part, unemployment rates fell throughout the region in the year over comparison for second quarter. Table 2 shows that the seasonally unadjusted rates declined in both Portage and Wood Counties to 5.6 and 4.8 percent respectively. Marathon County, however, experienced an increase in its rate from 5.5 to 5.7 percent over the course of the past twelve months. The labor force weighted seasonally unadjusted unemployment rate for Central Wisconsin declined from 5.9 to 5.4 percent. Wisconsin's rate continues to remain well below its US counterpart, 4.7 versus 6.2 percent.

     Employment growth was widespread across all geographic areas. Table 3 displays this quarter's results. Marathon, Portage, and Wood Counties added 2000, 1100, and 100 positions respectively. The 3200 person gain for the Central Wisconsin region represents an increase of 2.4 percent. Wisconsin and the nation each expanded by 3.9 percent over the past twelve months, the latter heralding a welcome strengthening of the nation's economy.

     The industrial sector employment numbers listed in Table 4 indicate that 3000 jobs have been added to the three county payroll ledger. This overall gain of 2.4 percent is divided up as follows. Services, as usual, led the expansion by posting a 2100 increase. Trade and government employment increased as well by 800 and 700 jobs respectively. On the negative side of the ledger construction and manufacturing declined by 400 and 200.
 

     Key sector employment growth was harder to come by than in past quarters. Table 5 shows that paper products and food processing reportedly fell by 100 and 200 positions from a year ago. In contrast, the finance, insurance, and real estate category added 500 people, and lumber and wood products gained 100 positions. Overall, our key industries added a net 300 jobs or 1.0 percent to area payrolls.

     The business confidence index in Table 6 has shown little change over the course of the year. The readings indicate that recent economic changes at the national and local levels have done little to persuade business leaders that a revision of their earlier assessment of the economy is warranted. In other words, the marks in the upper 50's suggest that matters have improved to a modest degree. When asked about the future, this group forecasts that economic matters will improve at all levels. But here again, the degree of optimism is approximately the same as in March.