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Division of Business and Economics
University of Wisconsin-Stevens Point
Stevens Point, WI 54481
(715) 346-3774  (715) 346-2537
 
 
Randy F. Cray, Ph.D.
 
Director, Central Wisconsin Economic Research Bureau
 

Stevens Point Area
3rd Quarter 1999

 
Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 Table 13 Table 14


     The Stevens Point-Plover area economy continues to enjoy incredibly low unemployment rates, 1.8 percent for September.  Moreover, total employment and industrial sector employment moved forward by 1.1 percent and 0.8 percent respectively, all occurring in a period of tight labor markets.  Most all other measures of economic performance indicate slow, but steady growth in the area.

     Industrial sector employment expanded by about 1.0 percent from a year ago (Table 7).  Services and trade sectors were higher than a year ago, 300 and 200 positions respectively.  Government payrolls were allegedly higher by 600 positions, more likely the result of counting teachers in the totals.  Manufacturing is estimated to be about 800 positions lower than last year, and construction payrolls were unchanged since 1998.

     Local merchants, while generally upbeat about the local retail scene, are somewhat less optimistic than they were in June (Table 8).  Total sales and store traffic compared to one year ago are both judged to be moderately better.  Their expectations about the future were more optimistic than their assessment of recent activity.  Nonetheless, the panel of local retailers is less upbeat than in June when it comes to forecasting future activity. 

     Help wanted advertising remains exceedingly robust in the local area (Table 9).  Clearly a good portion of the advertising is coming from out-of-area firms.  Nonetheless, this bodes well for local people seeking employment.  The mark of 322 suggests there are 3.2 jobs being advertised for each job in the base year.  This barometer of labor market conditions suggests there is a strong demand for skilled and trained workers.  Many analysts feel that labor shortages throughout the state are holding back business expansions.

     Public assistance claims in Portage County have reached a plateau (Table 10).  The number of new applications on a monthly average basis remains at 106 cases.  Total caseload is up by 5.5 percent.  Another measure of family financial distress is unemployment claim data (Table 11).  The number of new claims on a weekly average basis was virtually unchanged from a year ago.  During the same period total claims are estimated to have gone up by 4, i.e., 132 to 136.

     Residential construction in the greater Stevens Point-Plover area remained at a high level of activity (Table 12).  The number of permits was 60 and the estimated value of the construction was $7.5 million.  The number of residential alteration permits issued, while high, fell short of last year's figure.  There were 228 permits given out and they were valued at $1.3 million.

     Nonresidential construction in the area went as follows (Table 13).  There were 12 major permits issued with a total value of $6.4 million.  Alteration activity, while not as strong as the previous year, experienced 46 permits issued with an estimated value of $2.6 million.  Percentage changes between years are not given due to the volatile nature of the activities.

     Financial statistics for Portage County are given in Table 14.  The amount of bank deposits grew by a healthy 7.7 percent.  This represents an expansion from $278.8 to $300.4 million.  Bank lending grew by an even more dramatic fashion, climbing from $319.0 to $356.3 million or by 11.7 percent.  Both lending and deposit numbers represent healthy economic conditions.

 
TABLE 7:
PORTAGE COUNTY EMPLOYMENT CHANGE BY SECTOR
 
Employment
September 1998
(Thousands)
Employment
September 1999
(Thousands)
Percent
Change
Manufacturing
6.9
6.1
-11.6
Services
11.4
11.7
+2.6
Trade
7.8
8.0
+2.6
Construction
1.2
1.2
0
Government
5.0
5.6
+12.0
 
TABLE 8:
RETAILER CONFIDENCE IN STEVENS POINT-PLOVER AREA
                                        
Index Value
June 1999
September 1999
Total Sales Compared
to Previous Year
66
59
Store Traffic Compared
to Previous Year
63
56
Expected Sales Three
Months From Now
66
61
Expected Store Traffic
Three Months From Now
66
61
100 = Substantially Better
50 = Same
0 = Substantially Worse
 
TABLE 9:
HELP WANTED ADVERTISING IN PORTAGE COUNTY
                            
Index Value
1998
1999
Stevens Point
(September)
(1980 = 100)
323
322
U.S.
(August)
(1987 = 100)
92
87
 
TABLE 10:
PUBLIC ASSISTANCE CLAIMS IN PORTAGE COUNTY
 
1998
Third Quarter
(Monthly Avg.)
1999
Third Quarter
(Monthly Avg.)
Percent Change
New Applications
106
106
0
Total Caseload
1,751
1,848
+5.5
 
TABLE 11:
UNEMPLOYMENT CLAIMS IN PORTAGE COUNTY
 
1998
Third Quarter
(Weekly Avg.)
1999
Third Quarter
(Weekly Avg.)
Percent Change
New Claims
48
46
-4.2
Total Claims
132
136
+3.0
 
TABLE 12:
RESIDENTIAL CONSTRUCTION IN STEVENS POINT-PLOVER AREA*
 
1998
Third Quarter
1999
Third Quarter
Percent Change
Residential Permits Issued
58
60
+3.4
Estimated Value of
New Homes
$7,117.8
(thousands)
$7,469.8
(thousands)
+4.9
Number of Housing Units
83
66
-20.5
Residential Alteration
Permits Issued
247
228
-7.7
Estimated Value
of Alterations
$1,458.0
(thousands)
$1,269.7
(thousands)
-12.9
*Includes Stevens Point, Village of Plover, and the Towns of Hull, Stockton, Sharon, and Plover.
 
TABLE 13:
NONRESIDENTIAL CONSTRUCTION IN STEVENS POINT-PLOVER AREA*
 
1998
Third Quarter
1999
Third Quarter
Number of Permits Issued
16
12
Estimated Value of
New Structures
$3,851.1
(thousands)
$6,416.4
(thousands)
Number of Business Alteration Permits 
57
46
Estimated Value
of Business Alterations
$4,348.1
(thousands)
$2,658.4
(thousands)
*Includes Stevens Point, Village of Plover, and the Towns of Hull, Stockton, Sharon, and Plover.
 
TABLE 14:
FINANCIAL STATISTICS FOR PORTAGE COUNTY
 
1998
Third Quarter
(Millions)
1999
Third Quarter
(Millions)
Percent Change
Bank Deposits
$278.8
$300.4
+7.7
Bank Loans
$319.0
$356.3
+11.7
 
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University of Wisconsin-Stevens Point
Division of Business and Economics
Stevens Point, Wisconsin 54481