The regional economy was strong when measured over the past year. The regional unemployment rate declined from 5.5 to 5.1 percent and total employment increased by approximately 4.4 thousand individuals or 3.2 percent from last year. Moreover, nonfarm payrolls were higher in each and every category up by 3.4 percent in total. Manufacturing and services added 2.8 thousand of those jobs. 

     Business leaders feel the regional economy has improved, but they are concerned about the national economy and the direction it will take over the next several quarters. In sum, the executives in spite of their misgivings about the national economy feel that their companies will not be noticeably affected by the situation. 

     The seasonally unadjusted unemployment rate was stable in Portage county over the course of the year, leveling out at 5.7 percent (Table 2). In contrast the Marathon county figure declined from 5.8 to a very low 4.4 percent. Only in Wood county did the rate rise, from 4.8 to 5.8 percent. For Central Wisconsin the labor force weighted unemployment rate declined from 5.5 to 5.1 percent. This result is particularly impressive because it occurred at the same time the labor force expanded from 148.3 to 150.4 thousand, or 2.9 percent, in the three counties. 

In various degrees employment expanded in the three counties of Central Wisconsin (Table 3). Portage, Marathon, and Wood added 7.5, 1.7, and 1.8 percent to their respective payrolls. Employment in the state of Wisconsin expanded by 2.4 percent and in our Central Wisconsin region by a robust 3.2 percent. Meanwhile the nation grew at a more modest 1.5 percent over the same period. 

     Additional good news is reported in Table 4. Every category of industrial sector employment for Central Wisconsin expanded. Manufacturing, services, and trade each added a thousand or more people to their operations over the past twelve months. Also, constriction and trade added 300 and 500 jobs respectively. Overall, industrial employment increased from 127.8 to 132.2 thousand or 3.2 percent in our year over comparison for second quarter. 

     Table 5 presents county sales tax distributions.  The figures in table represent the amount of local sales tax dollars remitted from the state to local county governments.  Data are only available for Portage and Marathon Counties because Wood County does not have a local sales tax.  Portage County sales tax collections were slightly lower than a comparable period from a year ago.  However, Marathon County registered a 4.9 percent increase in sales tax dollars.  Please note the sales tax data is just a barometer of the local economic conditions.  It does not capture activity associated with nontaxable goods and services nor does it capture the activity associated with nonprofit organizations such as a university or charitable organizations. 

     Table 5A and Table 5B present an overview of how Central Wisconsin industrial employment has fared since 1990. During this period service sector employment has increased from approximately 35 thousand to 47 thousand jobs. Manufacturing has expanded from 30 thousand to around 33 thousand. This difference in employment growth under scores the importance of the service sector to our economy. 

     Table 6 presents this quarters business confidence survey results. Area business people tell the CWERB that the national economy was stable in second quarter with little if any perceived change In its condition. The regional economy, however, was said to have picked up momentum since last year. Interestingly enough this group feels that national economic conditions win deteriorate in the quarters ahead but the regional economy will stay the course and be stable. Further, and more important, they believe that their companies will not see a marked increase or decrease in business in the quarters ahead regardless of what else is going on in the economy.