Poor weather and weakening labor market conditions combined to severely limit fourth quarter growth in the Wisconsin Rapids area. However, some signs of strength were evident in the local service and trade sectors. Evidence for these conclusions is contained in Tables 7-13. These tables are based on information about local labor markets, construc­tion activity and financial markets.

      Wood County payroll data suggests that recent county trends conflict with overall Central Wisconsin developments (Table 7). The county's manufacturing sector showed a modest decline from the December 1984 figure, while manufacturing employment in the region as a whole has grown. Also in contrast to the region, the Wood County service and trade sectors have expanded payrolls. Service employment is up 2.7% over the year earlier level, while trade jobs have risen 4.9% over the same time period. Construction and govern­ment employment are down slightly from a year ago.

     The Wisconsin Rapids index is down slightly from the third quarter level but above the December 1984 reading. The latter is a more accurate comparison because it removes seasonal swings. The local employment index adjusts the Wood County payroll data for the structural differences between the city and county economies. The 1.8% increase posted by the index is the most encouraging finding among the local indicators.

     Help wanted advertising in the Wisconsin Rapids area showed little change from a year ago (Table 8). The index remained well below the December 1980 base. This flat reading is an indication of labor demand leveling off in the local economy.

     Public assistance claims also showed little movement when compared to the fourth quarter of 1984 (Table 9). Initial applications averaged 99 per month, identical to the year earlier figure. Total open cases edged down 2.6%.

     Unemployment claims processed at the Wisconsin Rapids district office rose sharply during the fourth quarter (see Table 10). Seasonal factors are partly responsible but when compared to the fourth quarter of 1984, substantial increases in new and total unemploy­ment claims remain. This indicator is a clear sign of weakening labor market conditions.

     The positive effect of lower interest rates was not enough to offset the stifling impact of an early winter (Table 11). All measures of residential construction showed declines when compared to the fourth quarter of 1984. The estimated value of new construction plunged 27.3%, while new permits were off 35%.

     Nonresidential construction showed a surprisingly large amount of fourth quarter activity (Table 12). Although the value of new structures was down from a year ago, alteration and remodeling activity picked up sharply. Paced by a major expansion project filed by Warehousing Wisconsin, the value of nonresidential alterations was estimated at over $1.6 million.

     Local commercial bank activity was sluggish during the fourth quarter (Table 13). Bank deposits and loans were up modestly over last year but very little of this reported gain took place during the final three months of 1985. During the quarter, bank loans inched up .3% while bank deposits slipped .3%.