As a business bank, we know how important it is to keep current on economic conditions in your region and the state, but sometimes only national data is readily available. That’s why we bring you the ICB Economic Update newsletter. This quarterly newsletter gives you the latest information on employment growth, unemployment, job openings volume, housing starts and more. We hope this publication helps you get a clearer picture of what’s happening, both at the state level and in your own backyard.
The Central and Northeast Wisconsin regional economies slowed in the second half of 2019, with employment and hiring both trending downward. Wage pressures continue to increase hiring tension as annualized wage growth of 2.8 percent has extended hiring duration. Decreases in manufacturing orders and inventories have hurt manufacturers throughout the region and amplify the longer-lasting impacts of trade tensions. Recent trade agreements with China and ratification of the USMCA promise to bring some certainty to the agricultural and manufacturing sectors, thought each have suffered over the past several years. It is uncertain as to whether continued tensions in the European Union and the conclusion of Brexit will have significant local effects. Real estate markets remain strong with new housing starts increasing in Central Wisconsin and valuations growing in Central and Northeast Wisconsin. Contractors have used the early mild winter to catch up on outstanding work and to attempt to get ahead of the coming spring season.
Want to know more about the conditions that affect your business – today and tomorrow?
Click below to view the newsletter specific to your region. A link to the latest and archived issues can also be found on the ICB Business Blog home page by clicking on “Economic Update Newsletter.”
Wondering how national and global economic trends impact the Lakeshore economy? Join us Wednesday, February 12, 2020 as Holy Family College's President's CEO Breakfast Series presents Elliot Eisenberg. Known as "The Bowtie Economist," Dr. Eisenberg is the president, chief economist and founder of Graphs and Laughs, LLC, which uniquely specializes in making the arcana and minutiae of economics entertaining and relevant.