The Wausau area economy was the hot spot for economic activity in Central Wisconsin over the course of the past year. Even though the unemployment rate went up in Marathon county, because the labor force grew more rapidly than the number of new jobs, its economy showed much vitality. 

     The figures for total employment and industrial sector payrolls were quite good increasing by 3.5 and 3.9 percent respectively. Additionally, retail activity remains brisk and is forecasted to be better three months from now compared to a year ago. Other highlights include residential construction, nonresidential building, and area financial statistics. However, on the downside public assistance and unemployment claim data deteriorated over the course of the year with manufacturing layoffs in the area playing some role in this outcome. 

     Industrial sector activity was brisk for the Marathon county area. Table 7 shows services, trade, and government employment rose by 1,300, 1,000, and 700 positions. However, manufacturing and trade were off the pace of a year ago contracting by 300 and 500 respectively. In sum, industrial sector employment grew from 56,100 to 58,300, a very healthy 3.9 percent rise from September 1993. As a side note, services sector employment dominance of the local economy is clearly illustrated by the fact that employment in this category has grown from approximately 15,500 to 19,000, or 23 percent since the beginning of 1989. 

     Retailers in the CWERB quarterly survey believe that total sales and store traffic are well above last year's levels (Table 8). As a matter of record, these two series have been trending upward since Fourth Quarter 1990. When we asked them to consider future activity levels, they responded by saying that store sales and traffic would be higher three months from now when compared to the previous year. Both of these series have been trending upward since late 1990. 

     Help wanted advertising is the CWERB's barometer of local labor market conditions (Table 9). Help wanted advertising increased by a modest 2.7 percent from a year ago. The 190 reading indicates there are 1.9 jobs being advertised for every one job in 1980. This index does not, however, measure the quality of jobs advertised. The barometer makes no distinction between part and full‑time jobs or low paying and high paying ones. Nonetheless, it does provide useful insight into the local labor market. The index has been trending slowly upwards since bottoming out in late 1991. 

     Family financial distress increased in Marathon county over the past year.
Table 10 shows that public assistance claims in the area rose from 12 to 21 on a monthly average basis, a 75 percent rise. Meanwhile, the total caseload figure rose from 61 to 76, a 24.6 percent increase, on a monthly average basis. The total caseload figure has been rising since Third Quarter 1993. The CWERB's other measure of financial distress is consistent with those already alluded to above. Table 11 gives the unemployment claim data for the area. New unemployment claims rose from 185 to 235 on a weekly average basis, a 27 percent increase. Similarly, total claims increased from 1,248 to 1,432, a 14.7 percent change. 

     Residential construction activity was above last year's totals (Table 12). Residential permits issued, their estimated value, the number of new housing units, the number of alteration permits, and their estimated value were higher by 14, 34, 10, 12, and 15 percent in a year over comparison. Residential construction is a good barometer of economic conditions because so much is involved in the building process and the implications for additional purchases of household items is strong. 

     Third Quarter 1994 was a good period for nonresidential construction
(Table 13). This bodes well for the local economy in the months ahead. The number of permits reached 14 in Third Quarter with an estimated value of $4.05 million. Further, the number of business alteration permits hit 46 with an estimated value of approximately $3.0 million. As usual no percentage changes are given in Table 13 because of the inherent volatility of business investment activity. 

     Table 14 displays financial statistics for the Wausau area. Please note all the figures in this table have been augmented to reflect the several bank mergers that have taken place in the last year. Bank deposits rose from $977.4 million to $1.1 billion, a strong increase of 12 percent over the year. Likewise, bank lending increased from $764.4 million to $908.9 million, an increase of nearly 19 percent. Both series are providing good indication as to health and direction of the local economy.