County Economic Statistics Table 8 Help Wanted Advertising (Third Quarter 2022)
Stevens Point
Wausau
Marshfield
Wisconsin Rapids
Merrill
Index Val- ue 2022 Q3
% ∆ Yr. Ago
Index Val- ue 2022 Q3
% ∆ Yr. Ago
Index Val- ue 2022 Q3
% ∆ Yr. Ago
Index Val- ue 2022 Q3
% ∆ Yr. Ago
Index Val- ue 2022 Q3
% ∆ Yr. Ago
2020
3.8
2276
-12.6
939
-19.2
1621
0.8
2205
-13.1
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. • The decrease in Help Wanted Advertising in Wausau, Marshfield, and Merrill along with very modest increases in Stevens Point and Wisconsin Rapids indicate a cooling of a still robust labor market. Table 9 Unemployment Claims - Portage, Marathon, and Wood Counties (Third Quarter 2022) 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
49
-41.4 -53.7
76
-56.0 -59.2
65
-31.2 -48.8
213
405
277
Description: • New Claims: Weekly average of new claims for Third Quarter 2022 • Total Claims: Weekly average of total claims for Third Quarter 2022 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. • 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 initial claims since 2021 Q3. • These numbers are consistent with low initial claims at the national level for the same time period. Table 10 County Sales Tax Distribution Portage Marathon Wood
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
2022 Q3 (x1000)
% ∆ Yr. Ago
County Sales Tax Distribution
$2,180.38
5.1
$4,302.22
6.4
$2,069.21
7.6
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: • While county tax collections have increased relative to Q3 2021, it is important to remember that the above numbers are not adjusted for inflation. • Consumers typically reduce their purchases of many goods in response to higher prices so the higher numbers here may reflect higher prices rather than an increase in the volume of sales.
Central Wisconsin Report - Fall 2022
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