The Wausau area economy continues to do well in this period of national economic expansion.  For example, the unemployment rate is at or near a record low level, and total employment grew by an impressive 2.0 percent in a period of tight labor market conditions.  Most of the other economic indicators were positive for the area and suggest that the economy is on firm ground.

     Every industrial sector in the greater Wausau area expanded during the past twelve months.  Industrial sector employment growth (Table 7) was led by services, which added 700 people to the local payrolls.  Trade also contributed in a significant manner to our economy by adding 500 positions.  Manufacturing and construction each added 200 positions.  Government meanwhile grew by just 100 jobs over the period.

     Local retailers believe total sales and traffic are improved over last year's amounts (Table 8).  This panel of local merchants felt strongly that the future would be a bright one.  They forecast sales and store traffic to be higher next quarter than at a corresponding time last year.  The strong growths in retail employment and sales tax collections support this outlook.

     Help wanted advertising (Table 9) in the local area remains at an elevated level.  Even though the reading of 186 is lower than last year's 206, it is nonetheless a good mark.  The 186 figure means there are 1.9 jobs being advertised for every one in the base year.  This bodes well for local job seekers.  It also would suggest a seller's market in terms of labor services.

     Unemployment claim data in Table 10 shows that new claims rose by 19 on a weekly average basis since last year.  Further, the number of total claims climbed by 71 over the twelve-month period.  Thus, pockets of corporate restructuring do exist even in a healthy economic environment.  As a matter of fact, some structural restructuring is absolutely necessary and normal in a dynamic economy.

     Although not as high as last year, residential construction in the Wausau area remains robust (Table 11).  The number of permits issued was 97 and the estimated value of this activity was $13.1 million.  This also represents 109 housing units.  The number of residential alteration permits issued during Second Quarter was 371.  The value of this alteration activity was $2.7 million for the period.

     Nonresidential construction activity (Table 12) is given without percentage change due to the volatile nature of this construction.  The number of permits issued was 10 with an estimated value of $3.3 million.  Alteration activity reached 48 permits and had estimated value of $9.3 million.  Major alteration activity during the period includes expansions at Green Bay Packaging, Award Flooring, and St. Anne Catholic Church.

     Table 13 presents financial data for the Wausau area.  Bank deposits reached $2.1 billion and lending climbed to $1.8 billion in Second Quarter 1999.  In November 1998 a bank merger took place which affected deposit and lending numbers in the area.  Thus, numbers after the merger are not comparable to pre-merger figures.  By the end of this year, comparability will once again exist.