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 economies experienced a slight downturn in the 3rd Quarter of 2019, with annualized employment rates pointing negative for the first time in the past two years. This is both a function of normal seasonal factors as well as growing concerns regarding slowdowns in manufacturing output and the risk to trade-exposed industries, including agriculture. The labor market remains quite robust with unemployment rates remaining at historic lows and wage rates continue to increase. It is expected that the end of the year will bring a return to stability as business leaders anticipate resolutions to several international trade events, including the ratification of the USMCA.
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.”
The ICB Economic Update newsletter is designed to provide valuable and timely information to help our customers grow their businesses. To learn more about what we can do to impact your growth and profitability, read our Top 4 Benefits of Working with a Community-Based Business Bank tip sheet.