Central Wisconsin's economic indicators were very positive in nature during Fourth Quarter 1996. Unemployment rates throughout the region fell to very low levels. Meanwhile, total employment increased by 2,800 jobs or by 2.0 percent in the year over comparison. Additionally, industrial sector employment growth was impressive, and sales tax data suggests a healthy retail sector. Finally, regional business executives indicated that the nation and regional economies are stronger now than last year. 

     Unemployment rates throughout the region continue to spiral downward
(Table 2). The seasonally unadjusted rates have declined to incredibly low levels. Marathon, Portage, and Wood experienced rates of 2.9, 3.2, and 3.0 respectively. Economists have long suggested that an unemployment rate of 5.5 to 6.0 represents full employment. In other words, one should always expect some unemployment because of the technological displacement of workers, and that some workers will choose to be between jobs for personal reasons. 

     Solid employment gains throughout the region meant that that region's payroll expanded from 139.8 thousand to 142.6 thousand over the course of the year, or by 2.0 percent (Table 3).  Individually Marathon, Portage, and Wood Counties expanded by 2.4, 2.0, and 1.3 percent.  Also, Wisconsin's employment base expanded 2.1 percent during this period, but U.S. jobs rose somewhat more slowly, 1.3 percent over the period.

     Regional industrial sector employment numbers are given in Table 4. All sectors managed to add to their payrolls when measured from Fourth Quarter 1995. Manufacturing, services, and trade, the big three employment categories in the area, grew by 2.4, 2.2, and 2.4 percent. The construction sector added 4.3 percent to is payrolls, while government expanded at an anemic 0.5 rate over the same period. Overall, there are now 138.1 thousand people employed which is up from the 135.2 thousand of a year ago, or a 2.1 percent gain. 

          Figure 5A and Figure 5B display regional employment developments for the past number of years. These charts permit the reader to quickly track the evolutionary nature of area employment. The services sector has become a predominate factor in our Central Wisconsin economy. This development is even more true for the national economy than here locally. 

     Another economic indicator which suggests that a good deal of expansion has taken place in the regional economy is sales tax collection data (Table 5).  Marathon County experienced a 9.7 percent increase in collections during the quarter as compared to last year.  Portage also experienced expansion with a 3.8 percent gain in revenue.  Wood County does not have sales tax, therefore, data are not available. 

     Regional business leaders who comprise the CWERB's panel of experts believe there has been a marked improvement in national and local economic conditions since last year (Table 6). This group is even more optimistic than last quarter. The panel of business executives also holds the opinion that changes at the national, local, and industry levels will be minimal. However, given the fact that good economic conditions now exist, their opinion in this matter can be interpreted in a positive way.