County Economic Statistics Table 6 Help Wanted Advertising (First Quarter)
Stevens Point
Wausau
Marshfield
Wisconsin Rapids
Lincoln County
Adams County
Index Value 2022 Q1
% ∆ Yr. Ago
Index Value 2022 Q1
% ∆ Yr. Ago
Index Value 2022 Q1
% ∆ Yr. Ago
Index Value 2022 Q1
% ∆ Yr. Ago
Index Value 2022 Q1
% ∆ Yr. Ago
Index Value 2022 Q1
% ∆ Yr. Ago
2079 122.00 2525 96.00 1209 102.00 1683 116.00 2471 98.00 1571 111.00 Description: • Presents index values for on-line job advertising for Stevens Point, Wausau, Marshfield, Wisconsin Rapids, Lincoln County, and Adams County. Analysis: • Help Wanted Advertising is an important leading indicator of local labor market conditions. • The dramatic increases in the index values over last year for all four counties and Stevens Point indicate a very tight labor market. • Current conditions are consistent with record job openings nationwide. Table 7 Unemployment Claims - Portage, Marathon, and Wood Counties (Third Quarter) Portage Marathon Wood Weekly Average 2022 Q1 % ∆ Yr. Ago Weekly Average 2022 Q1 % ∆ Yr. Ago Weekly Average 2022 Q1 % ∆ Yr. Ago
New Claims Total Claims
90
-50.50 -56.40
199 869
-51.60 -59.50
112 598
-44.30 -56.60
524
Description: • New Claims: Weekly average of new claims for 2022 Q1. • Total Claims: Weekly average of total claims for 2022 Q1. Analysis: • Initial claims for unemployment insurance are an important leading economic indicator because it helps predict likely changes in the level of consumption. • Weekly averages of new claims and total claims are used because of the volatility of new claims from week to week. • The numbers show a significant decline in both new and total claims since 2021 Q1, another strong indicator of a red hot labor market. • These numbers are consistent with the record low initial weekly claims nationwide in recent weeks. Table 8 County Sales Tax Distribution Portage Marathon Wood 2022 Q1 (000) % ∆ Yr. Ago 2022 Q1 (000) % ∆ Yr. Ago 2022 Q1 (000) % ∆ Yr. Ago County Sales Tax Distribution $1,896.42 5.91 $3,668.00 7.08 $1751.69 10.52 Description: • The county sales tax rate of 0.5% is placed on retailers that make taxable sales. • Changes in county tax collections are a good indicator of changes in retail activity in Central Wisconsin. Analysis: • The significant increase in tax collections for Portage, Marathon, and Wood County reflects significantly higher levels of retail activity compared to one year ago. • Current state budget surpluses also reflect a much improved economic picture.
Central Wisconsin Report - Spring 2022
15
Made with FlippingBook Learn more on our blog