County Economic Statistics Table 8 Help Wanted Advertising (Third Quarter 2024)
Stevens Point
Wausau
Marshfield
Wisconsin Rapids
Merrill
Index # 2024 Q3
% ∆ Yr. Ago
Index # 2024 Q3
% ∆ Yr. Ago
Index # 2024 Q3
% ∆ Yr. Ago
Index # 2024 Q3
% ∆ Yr. Ago
Index # 2024 Q3
% ∆ Yr. Ago
1159
-39.6
1309
-41.5
736
-39.6
925
-42.3
1279
-41.5
Description: • Presents index values for online job advertising for Stevens Point, Wausau, Marshfield, Wisconsin Rapids, and Merrill Analysis: • Online Help Wanted Advertising can be a leading indicator of local labor market conditions. • All areas experienced a significant decline in online job advertising over the year indicating a softening labor market. Table 9 Unemployment Claims - Portage, Marathon, and Wood Counties (Third Quarter 2024) Portage Marathon Wood Weekly Average 2024 Q3 % ∆ Yr. Ago Weekly Average 2024 Q3 % ∆ Yr. Ago Weekly Average 2024 Q3 % ∆ Yr. Ago
New Claims Total Claims
46
-15.2 -32.2
75
-6.0
66
-1.2
138
276
-43.4
204
-29.5
Description: • New Claims: Weekly average of new claims for First Quarter 2024 • Total Claims: Weekly average of total claims for First Quarter 2024 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. • The number of new claims and total claims has declined in Portage, Marathon, and Wood counties, indicating a stabilizing labor market. Note: Weekly average for Q3 takes average initial claims for weeks 27-39 as defined on Dept. Workforce Development calendar.
Table 10 County Sales Tax Distribution (Third Quarter 2024) Portage Marathon
Wood
2024 Q3 (x1000)
% ∆ Yr. Ago
2024 Q3 (x1000)
% ∆ Yr. Ago
2024 Q3 (x1000) 2589.34
% ∆ Yr. Ago
County Sales Tax Distribution
$2,180.29
-2.3
$4,287.07
-4.7
21.5
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: • County sales tax collections decreased modestly over the last year in Portage and Marathon counties while spiking in Wood County. • Wood County has an abnormally high sales tax collection for August The reason for the sharp jump continues to be unclear. Note: Wood County had an abnormally high sales tax in August.
Central Wisconsin Report - Fall 2024
19
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