Labor Market Statistics
Table 6 Labor Market Indicators from LAUS and retrieved from WisConomy
Labor Force
Unemployment Rate
Employment
Labor Market Area
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3
2021 Q3
2022 Q3 (x1000)
% ∆ Yr. Ago
Portage County
37.5 13.9 72.7 33.6
-3.0 -2.7 -2.2 -2.5 -0.7
3.0 3.5 2.7 3.4 3.2 3.5
2.6 2.8 2.3 3.3 3.4 4.7
36.4 13.4 70.7 32.5
-3.4 -3.4 -2.6 -2.7 -0.5
City of Stevens Point Marathon County
Wood County
Wisconsin
3,114
3,014
United States
164,689
2.0
158,936
3.3
Description: • Labor Force: Includes all people over the age 16 who are either working or actively looking for work (in thousands). • Unemployment Rate: The number of unemployed as a percentage of the labor force. • Employment: Includes all people over age 16 who are working (in thousands). Analysis: • The above table shows a disturbing trend of a shrinking labor force in the Central Wisconsin region and the state of Wisconsin relative to a year ago. A smaller labor force can have negative implications for future growth. • The unemployment rates in Central Wisconsin are marginally higher than the historically low rates of a year ago. Unemployment rates for Wisconsin and our region are still lower than the national unemployment rate. • Given higher unemployment rates, it is no surprise that the level of employment has declined in Wisconsin and Central Wisconsin.
Table 7 Wisconsin Employment by Industry Sector from Payroll Employment Survey - CES and retrieved from WisConomy
Natural Resources and Mining
Trade, Transport and Utilities
Nonfarm Jobs
Construction Jobs Manufacturing
Information Jobs
2022 Q3 (x1000) 2,952.5
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2.2
133.6 5.9
473.4
1.1
3.9
11.4 545.5
2.3
46.5
3.1
Education and Health
Leisure and Hospitality
Finance Jobs
Business Services
Other Services
Government
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
154.6
0.3 329.4
4.6 453.8 0.5
274.0 7.2
143.3 -0.1 394.5
0.2
Description: • Employment data are classified using the North American Industry Classification System (NAICS). The above table categorizes data according to major industry sectors (in thousands). Analysis: • The above table shows employment gains in almost all industry sectors. • Employment in the Leisure and Hospitality sector increase by 7.2% over the third quarter of 2021.
16
Center for Business and Economic Insight
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