Preliminary estimates suggest that real gross domestic product rose by a stronger than anticipated 3.3 percent over the past twelve months. Industrial production in our nation's factories increased significantly by growing 3.3 percent. Short term interest rates rose from 4.79 to 5.14 percent over the past year and the consumer price index rose by just 2.5 percent signaling that inflation remains subdued. 

     Unemployment rates tumbled sharply lower in Central Wisconsin, the state, and nation. Generally, speaking economists say that an economy has reached full employment when the rate stands at 5.5 to 6.0 percent. Thus, a 3.0 percent unemployment rate In Central Wisconsin indicates a tight labor market for qualified workers. The same holds true for many other locales in Wisconsin. For example the Fox Valley area and Dane county have very robust economies and extremely low unemployment rates. 

     Employment in the area has been expanding almost without interruption for about ten years. This quarter we see a modest 1.2 percent amount added to employment. As of September there was 141.2 thousand people employed in the three‑county area. Unless population and or the demographics of the area change, growth may continue on this sort of path because of the labor constraint. 

     In detail, Central Wisconsin non‑farm employment grew by 1.8 percent rising from 130.8 to 133.1 thousand. Manufacturing, services, trade, and construction expanded by 2.8, 1.9, 3.3, and 6.0 percent respectively. Only government activity was abated with the number of people employed declining from 16.8 to 16.0 thousand. 

     Sales tax distributions In both Portage and Marathon counties have been trending steadily upward since about late 1991. Approximately $800 thousand was collected in Portage and $1.6 million in Marathon. Tax collections are highly correlated with the amount of transaction activity taking place in an area and thus give insight into local economic conditions. 

     Business surveys are an important indicator of economic conditions. By gathering a wide spectrum of opinions better insight can be gained into local and industry conditions. These business people know their company's market prospects better than outsiders. This group tells the CWERB mat local and industry conditions should be stronger than a year ago. This bodes will for area job seekers because expanding businesses translate into employment opportunities for workers. 

     The Stevens Point‑Plover area employment has grown a great deal over the past ten years, last quarter for example. However, employment growth did not transpire this quarter. Both total and non‑farm employment amounts were lower than last years figures. In contrast to the employment information, the unemployment rate was sharply lower, help wanted advertising was robust, and nonresidential construction activity was strong.