The seasonally unadjusted unemployment rates in Marathon and Portage counties, while still incredibly low, inched slightly upward (Table 2).  The rates for the two counties were respectively 3.2 and 3.8 percent for the 4th Quarter.  However, Wood County managed to trim a tenth of a percentage off of its rate, a mark of 3.8 percent.  Lastly, Wisconsin continues to have a lower unemployment rate than the nation, 3.1 percent versus 4.0 percent.

     Total employment is given in Table 3.  Total employment was stable in the three county region.  Little change, either positive or negative, was recorded.  The combined payrolls of Marathon, Portage, and Wood counties fell ever so slightly from 146.6 thousand to 146.0 thousand, or by 0.4 percent.  During the same period Wisconsin employment did not change that much, rising by just 0.3 percent.  The U.S., however, registered a modest increase of 1.5 percent.

     Industrial sector employment performance was marginally better this year compared to last (Table 4).  All sectors reported gains, albeit modest ones.  Manufacturing rose by 0.7 percent, services by 1.6, trade by 1.9, and government by 0.2 percent.  Construction, however, posted a rather large gain in terms of a percentage change of 9.2 percent.  In sum, industrial sector employment expanded by 2,400 position or 1.7 percent from last year.

     Sales tax data are a good indicator of how the retail situation is performing and of the overall health of the economy (Table 5).  For Portage county the sales tax distribution figures show that collections rose from $829.8 thousand to $944.2 thousand, or a very large 13.8 percent over the year.  Likewise, Marathon county experienced substantial growth, rising from $1.8 to $1.9 million, or nearly 6 percent from 1997.

     Relating to the Marshfield version of the report, Figure 5A and Figure 5B present a detailed look at how manufacturing, services, trade, construction, and government sector payrolls have fared over the past number of years.  These graphs show the gradual growth that has taken place in these sectors and how this gradual growth has added up over the years to a substantial amount.

     Perhaps the most interesting and surprising information in this quarter's report is the continued level of pessimism being expressed by regional business executives (Table 6).  When asked to assess recent changes at the national and local levels they felt matters had noticeably weakened.  Moreover, their beliefs about the future were also pessimistic.  The expected economic changes as the national, local and industrial levels were not judged in a positive light.  The uncertainty surrounding the international financial situation is clearly playing a role in their thinking.