County Economic Statistics Table 6 Help Wanted Advertising
Stevens Point
Wausau
Marshfield
Wisconsin Rapids
Lincoln County
Adams County
Index Value 2021 Q3
% ∆ Yr. Ago
Index Value 2021 Q3
% ∆ Yr. Ago
Index Value 2021 Q3
% ∆ Yr. Ago
Index Value 2021 Q3
% ∆ Yr. Ago
Index Value 2021 Q3
% ∆ Yr. Ago
Index Value 2021 Q3
% ∆ Yr. Ago
1946.5 136.08 2604 152.45 1162 128.10 1608 184.85 2538.5 219.31 1523.5 199.02 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 for all four counties and Stevens Point from a year ago indicate a strong jobs recovery from the depths of the pandemic last year. • Compared to 2019 Q3, the 2020 Q3 numbers fell by 50% or more in all areas. • Current conditions are consistent with record job openings nationwide. See Kevin Bahr’s report. Table 7 Unemployment Claims - Portage, Marathon, and Wood Counties Portage Marathon Wood Weekly Average 2021 Q3 % ∆ Yr. Ago Weekly Average 2021 Q3 % ∆ Yr. Ago Weekly Average 2021 Q3 % ∆ Yr. Ago New Claims 90.51 -72.74 124.77 -74.40 94.54 -61.98 Total Claims 487.31 -77.51 994.23 -73.40 540.31 -65.34 Description: • New Claims: Weekly average of new claims for 2021 Q3. • Total Claims: Weekly average of total claims for 2021 Q3. 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 2020 Q3, another strong indicator of a rebounding labor market. • These numbers are consistent with the 50-year low of initial weekly claims nationwide in late November. Table 8 County Sales Tax Distribution Portage Marathon Wood 2021 Q3 (000) % ∆ Yr. Ago 2021 Q3 (000) % ∆ Yr. Ago 2021 Q3 (000) % ∆ Yr. Ago County Sales Tax Distribution $2,075.17 3.32 $4,043.47 9.35 $1922.37 3.67 Description: • 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: • The healthy increase in tax collections for Portage, Marathon, and Wood County indicate higher levels of retail activity compared to one year ago. • These gains mirror those at the national level with retail sales increasing by 1.7% in October.
Central Wisconsin Report - Fall 2021
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