County Economic Statistics Table 8 Help Wanted Advertising (Third Quarter)
Stevens Point
Wausau
Marshfield
Wisconsin Rapids
Merrill
Index # 2023 Q3
% ∆ Yr. Ago
Index # 2023 Q3
% ∆ Yr. Ago
Index # 2023 Q3
% ∆ Yr. Ago
Index # 2023 Q3
% ∆ Yr. Ago
Index # 2023 Q3
% ∆ Yr. Ago
1917
-5.1
2238
-1.6
1218
29.7
1603
-1.1
2185
-0.9
Description: • Presents index values for online job advertising for Stevens Point, Wausau, Marshfield, Wisconsin Rapids, and Merrill Analysis: • Help Wanted Advertising is often a good leading indicator of local labor market conditions. • All areas experienced a modest decrease in online job advertising since Q3 2022, indicating a labor market beginning to moderate. Table 9 Unemployment Claims - Portage, Marathon, and Wood Counties (Third Quarter 2023) Portage Marathon Wood Weekly Average 2023 Q3 % ∆ Yr. Ago Weekly Average 2023 Q3 % ∆ Yr. Ago Weekly Average 2023 Q3 % ∆ Yr. Ago
New Claims Total Claims
54
10.3 -4.6
80
4.9
67
2.7 4.5
203
488
20.3
289
Description: • New Claims: Weekly average of new claims for Third Quarter 2023 • Total Claims: Weekly average of total claims for Third 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 (Third Quarter) Portage Marathon
Wood
2023 Q3 (x1000)
% ∆ Yr. Ago
2023 Q3 (x1000)
% ∆ Yr. Ago
2023 Q3 (x1000)
% ∆ Yr. Ago
County Sales Tax Distribution
$2,231.49
2.3
$4,498.54
4.6
$2,131.23
3.0
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 sales tax collections have increased over the year, the increases in collections may largely reflect changes in the overall price level rather than an increase in the volume of sales.
Central Wisconsin Report - Spring 2023
19
Made with FlippingBook Learn more on our blog