Unemployment rates (Table 2) fell throughout the state, region, and nation.  The seasonally unadjusted unemployment rates were as follows for Central Wisconsin: Portage 3.5 percent, Marathon 2.9 percent, and Wood 3.8 percent.  On a labor force weighted average Central Wisconsin's unemployment rate stood at just 3.3 percent.  Wisconsin meanwhile registered an outstanding 3.1 percent rate and the nation a 4.5 percent mark.

     Employment in the three counties (Table 3) tracked in the following way over the past twelve months: Portage total employment remained virtually unchanged.  However, Marathon expanded by 2.0 percent, and Wood by 1.8 percent over the same period.  Given the very tight labor market any increase in these figures is a noteworthy accomplishment.  Wisconsin added just 0.7 percent and the U.S. 1.6 percent in terms of employment growth.

     Another gauge of local economic conditions is industrial sector employment changes (Table 4) .  Services, trade, construction, and government added 600, 1,000, 300 and 600 positions respectively in Central Wisconsin over the past twelve months.  Only manufacturing experienced a decline, falling by an estimated 300 positions.

     Sales tax distribution (Table 5) indicated that the retail sector was expanding in both Marathon and Portage counties.  Portage county collections rose from $893.2 thousand to $928.1 thousand over the course of the year.  Marathon did somewhat better, increasing from $1.85 million to $1.96 million, or 6.1 percent.  This type of data is very useful in analyzing local economic conditions.

     Relating to the Marshfield version of the report, figures 5A and 5B depict the long term secular trends in manufacturing, services, trade, construction, and government employment over the past five years.  You will quickly gain an appreciation for the relative importance of each sector and how they have taken divergent growth paths.  Moreover, these charts clearly show the dynamic nature of our Central Wisconsin economy and how our residents earn a living.

     Business executives in the local area are more pessimistic about the economy than they were in March (Table 6).  Their assessment of recent changes at the national level and local level suggest a greater degree of concern about the future direction of the economy.  With respect to the future the panel believes the national and local conditions will be softer in the months ahead.  However, they expect little or no change in regard to their particular industry.