The statistics for 3rd Quarter were quite positive for the greater Wausau area. Even in an environment of tight labor market conditions employment expanded. The unemployment rate continues to hover at near record low levels, and construction activity seems to be on strong footing. Public assistance and unemployment claims are also very low from a historic perspective. Finally, bank statistics were also very strong for the area.

     Marathon county industrial sector employment in Table 7 expanded by 1.7 percent or 1,100 positions from last year at this time. The manufacturing and trade sectors grew by 400 jobs apiece during the period. At the same time construction and government payrolls went up by 100 and 200 respectively. Finally, service sector employment was stable and thus estimated to be at the same level as in September 1997.

     Retailer confidence levels are depicted in Table 8. Generally speaking this group was upbeat in their assessment of recent sales and store traffic. Moreover, they remain quite optimistic about the future in spite of the turmoil alluded to elsewhere in this report. These results are in sharp contrast to the pessimism expressed by the regional business executives in Table 6 (see Central WI 3rd Quarter page). One explanation for the difference is that retailers are further forward in the product stream. In other words, any effect they might suffer would materialize later than for some of the other local business sectors.

     Help wanted advertising remains relatively high in the area (Table 9). The mark of 156 means there are 1.56 jobs being advertised for every position listed in the base year. The U.S. is also experiencing a high level of job advertising relative to the previous period. These barometers of labor market conditions suggest that employment will continue to forge ahead.

     Public assistance claims remain at incredibly low levels for the county
(Table 10). Clearly the state's W2 plan and the health of the local economy have caused this result. New applications on a monthly average basis now stand at just 6 for Marathon county. Total caseload for the area likewise was a very low 13. From a historic perspective the drop in public assistance has been dramatic over the past several years.

     Unemployment claims is another measure of local family financial distress (Table 11). New claims on a weekly average basis declined from 193 to 148 in the year over comparison, a drop of 23.3 percent. Total claims likewise contracted, albeit by a much smaller percentage. This measure of economic conditions fell from 1,039 to 1,036, or just 0.3 percent.

     Residential construction in the area grew substantially over a very good previous year (Table 12). Residential permits issued went up by 11 percent and the estimated value of this new building activity jumped upwards by 31.9 percent. Similarly the number of units slated to be built increased by 32.7 percent. 

     Residential alteration activity for 3rd Quarter was also good. The number of alteration permits issued climbed by nearly 15 percent, and their estimated value was about 12 percent higher than last year's mark.

     Nonresidential construction is very volatile from year to year, hence no percentage changes are given in Table 13. The number of permits issued was 14, and they are estimated to be worth $4.4 million. During the 3rd Quarter alteration permits for businesses totaled 38, and the value of this activity was pegged at $5.0 million.

     Good news comes from the sample of area financial institutions (Table 14). Bank deposits grew from $1.3 to $1.4 billion or by nearly 14 percent from 3rd Quarter 1997. More good news comes from the lending side. Loans increased from $1.08 to $1.1 billion, a gain of about 6.0 percent. All of these numbers suggest that the local economy expanded over the past twelve months.