County Economic Statistics Table 8 Help Wanted Advertising (First Quarter 2023)
Stevens Point
Wausau
Marshfield
Wisconsin Rapids
Merrill
Index # 2023 Q1
% ∆ Yr. Ago
Index # 2023 Q1
% ∆ Yr. Ago
Index # 2023 Q1
% ∆ Yr. Ago
Index # 2023 Q1
% ∆ Yr. Ago
Index # 2023 Q1
% ∆ Yr. Ago
1973
-5.1
2399
-5.0
1252
3.6
1640
-2.6
2329
-5.2
Description: • Presents index values for on-line job advertising for Stevens Point, Wausau, Marshfield, Wisconsin Rapids and Merrill. Analysis: • Help Wanted Advertising is a leading indicator of local labor market conditions. • Current index readings indicate a very modest decline in job postings since 2022 which charted record highs. Marshfield is the exception, showing an increase in postings over last year. • The labor market is still very tight. Table 9 Unemployment Claims - Portage, Marathon, and Wood Counties (First Quarter 2023) Portage Marathon Wood Weekly Average 2023 Q1 % ∆ Yr. Ago Weekly Average 2023 Q1 % ∆ Yr. Ago Weekly Average 2023 Q1 % ∆ Yr. Ago
New Claims Total Claims
81
-10.0 -13.2
152 767
-19.5 -11.8
92
-17.6 -15.8
454
503
Description: • New Claims: Weekly average of new claims for First Quarter 2023 • Total Claims: Weekly average of total claims for First Quarter 2023 Analysis: • Initial claims for unemployment insurance are often a good leading economic indicator in predicting changes in consumption spending. People who lose their jobs tend to cut back on their purchases. • While average weekly new claims are down from a year ago in the Central Wisconsin area, they have increased since the second half of 2022. This suggests that the labor market may be beginning to soften.
Table 10 County Sales Tax Distribution Portage
Marathon
Wood
2023 Q1 (x1000)
% ∆ Yr. Ago
2023 Q1 (x1000)
% ∆ Yr. Ago
2023 Q1 (x1000)
% ∆ Yr. Ago
County Sales Tax Distribution
$2,008.77
5.9
$4,033.82
10.0
$1,950.38
11.3
Description: • Tax collections in thousands of dollars. • The county sales tax rate of 0.5% is placed on retailers that make taxable sales. • Changes in county tax collections is a good indicator of changes in retail activity in Central Wisconsin. Analysis: • Increases in county sales tax collections in Marathon and Wood counties indicate growth in retail activity over the year. • It is important to remember that the above numbers are not adjusted for inflation.
Central Wisconsin Report - Spring 2023
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