Family Friendly Workplaces

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St. Croix EDC Hosts Conversation on Family Friendly Workplaces

Wednesday September 21, 2022        
8:00-8:30am networking, coffee and bakery treats
8:30am Program Starts
Northwood Technical College-New Richmond

The event is free, but RSVP’s are required.
Register at www.tinyurl.com/FFworkplace

In 2030, Wisconsin is forecast to add less than 150 individuals to its statewide workforce. In that same year, St. Croix County will add only 200. This data speaks to the long-term human resources challenge that currently faces the state, county, and region, and which requires a strategic and concerted effort to address.

Join St. Croix EDC on Wednesday, September 21, 2022 at Northwood Technical College-New Richmond. The presentation, a conversation on the topic of how family friendly policies and practices can help business and industry address short-term and long-term workforce challenges, starts promptly at 8:30.

Neil Kline, executive director of Family Friendly Workplaces, (photo above) will present information on steps business and industry can take to ensure companies in west central Wisconsin are employers of choice, which gives the region a stellar reputation as the premier destination to raise a family, all while strengthening families and children.

Family Friendly Workplaces are imperative for business and industry to be considered employers of choice.

RSVP’s are required. Register at www.tinyurl.com/FFworkplace

About Family Friendly Workplaces

Family Friendly Workplaces (FFW) is a charitable nonprofit based in Woodville working to address west central Wisconsin’s workforce shortage, and strengthen the region’s Wisconsin families, by certifying businesses as Family Friendly, and encouraging the adoption of Family Friendly practices. Learn more at www.familyfriendlyworkplaces.org

Scary Choices: Back-to-School Shopping

SCEDC BLOG

Scary Choices: Back-to-School Shopping

BY BILL RUBIN, EXECUTIVE DIRECTOR

Moms, dads, and extended family members in Wisconsin’s St. Croix Valley were not immune from scary shopping experiences leading up to the start of a new school year. Part of the scare was linked to the Halloween merchandise on full display at the big box stores since early August. Halloween still falls on October 31st, so the appropriate sequence for consumer spending is still back-to-school shopping, a state fair in nearby Minnesota, Labor Day festivities, football homecomings, school breaks, and then Halloween. Billions will be spent on Halloween candy and costumes. In a money saving effort, the spendthrift Grinch in the St. Croix Valley will continue to celebrate as himself.

Parents, disguised as consumers, quickly discovered ‘must-have’ back-to-school items were impacted by the latest boogeyman called inflation. Meanwhile, the list for must-haves keeps getting longer, including notebooks and pencils, the latest in fashion, accessories, computers, and other electronics. The National Retail Federation (NRF) predicted spending for back-to-school and back-to-college could reach $110.7 billion, up two percent from 2021’s record setting $108.1 billion. Perhaps the NRF’s school spending estimates were intended to draw attention away from research from the Brookings Institute on the cost to raise a child to age 17, estimated at slightly more than $310,000 or $18,300 per year!!!

The NRF says households may spend an average of $864 for the 2022-23 K-12 school year while back-to-college spending is stable at around $1,199 per household. Parents-consumers are expected to spend almost 41 percent more in back-to-school shopping this year compared to pre-COVID 2019.

The retail analytics company DataWeave noted the following increases from 2021:
-backpacks are up nearly 12 percent
-lunchboxes increased 14 percent
-notebooks and folders take the top prize with an increase of 31 percent

Newell Brands makes good old Elmer’s Glue and Sharpie pens. Their 2022 prices were set to cover inflationary costs from suppliers. Newell offered a hedge by saying it has no control over what retailers charge for their products. Sharpie permanent markers are reportedly up seven percent and highlighters up 8.5 percent, but the Elmer’s glue products were up almost ten percent.

St. Croix Valley residents are resilient. Moms and dads likely shopped early, starting in July. Online shopping sometimes translates into lower prices. In-store brands are usually priced lower than brand name products. Working extra hours or making an additional sale when commissions were involved helped soften the financial blow of school supplies.

St. Croix Valley residents and business are also generous. They’ll find a way to pick up extra supplies for classrooms. Free backpacks and school supplies are now common activities for numerous clubs and organizations. Social media and school districts will make the important connections of where and when.

As long as children and young adults continue to grow a few inches between June and September, there will be back-to-school shopping needs. Remember, those students will soon be on their own. Ideally they start new chapters as residents in the St. Croix Valley as parents and community members. Their shopping carts will be brimming with supplies. And the beat goes on.

July 2022 Unemployment

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St. Croix County’s July 2022 Unemployment Rate at 2.9%

On August 24th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary July 2022 unemployment rates for Wisconsin’s 72 counties and the 35 cities with populations greater than 25,000 residents. St. Croix County’s July rate was estimated at 2.9%, which is lower than June’s final rate of 3.1% but higher than May’s final rate of 2.5%. One year ago, the county’s unemployment rate was estimated at 3.1%.

DWD said preliminary unemployment rates from June to July declined or stayed the same in 63 of the 72 counties. Rates declined or stayed the same in 70 of the 72 counties year-over-year. The current rates range from 2.5% in Dane to 9.1% in Menominee.

Preliminary unemployment rates from June to July decreased or stayed the same in 29 of Wisconsin’s 35 largest cities. Year-over-year, the rates declined or stayed the same in 33 cities. Rates ranged from 2.3% in Fitchburg to 5.5% in Milwaukee.

The five counties with the lowest unemployment rates in July include Dane (2.5%), Kewaunee (also at 2.5%), Calumet (2.6%), Lafayette (also at 2.6%), and Clark (2.7%). Menominee had the highest rate in July at 9.1%, followed by Iron (5.7%), Adams (5.3%), Forest (5.1%), and Bayfield (5.0%).

St. Croix, Pierce, and Polk counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 2.9%, July’s preliminary rate in Pierce was 3.1% and Polk’s rate was 3.3%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The July 2022 unemployment rate for the Twin Cities was estimated at 2.0%, which is lower than June’s final rate of 2.2%, but higher than May’s final rate of 1.6%. The unemployment rate in the Twin Cities was 3.2% in July 2021.

Nearby Washington County in Minnesota reported a preliminary rate of 1.8% for July compared to June’s final rate of 2.0%, while Dakota reported a rate of 1.9% for July versus 2.1% for June, and Chisago’s rate for July was 2.0%, compared to 2.2% in June.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in July was estimated at 3.0%, which is higher than the final rate of 2.9% for both June and May. One year ago, the state’s seasonally adjusted rate was 3.8%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota for July was estimated at 1.8%, which is the same as the final rate for June and lower than May’s final rate of 2.0%. Minnesota’s seasonally-adjusted rate one year ago was 3.3%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for July was estimated at 3.5%, which is lower than the final rate of 3.6% for both June and May. One year ago, the U.S. rate (seasonally adjusted) was estimated at 5.4%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for July was estimated at 66.2%, which is lower than June’s final rate of 66.4% and May’s final rate of 66.5%. One year ago, Wisconsin’s labor force participation rate was also 66.7%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in July was estimated at 62.1%, which is lower than June’s final rate of 62.2% and May’s final rate of 62.3%. One year ago, the labor force participation rate in the U.S. was 61.7%.

July’s estimates are preliminary and are subject to revision within the next few weeks.

WEDC Recording

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Recording of a Conversation with WEDC’s Missy Hughes and Ray French

On Thursday August 18, St. Croix EDC hosted a conversation with board secretary and CEO Missy Hughes and regional economic development director Ray French. It was an insightful look at the role of the state’s lead economic development organization, Wisconsin Economic Development Corporation (WEDC) in supporting capital investment in the state, including the St. Croix Valley.

They discussed recent successes, initiatives, and programs that are making a difference for Wisconsin businesses and entrepreneurs.

You can watch the recorded Zoom event here.

A Conversation with Missy Hughes and Ray French of WEDC

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A Conversation with Missy Hughes and Ray French of WEDC

Please join board secretary and CEO Missy Hughes and regional economic development director Ray French at 12:00p.m. on August 18 via Zoom for an insightful look at the role of the state’s lead economic development organization, Wisconsin Economic Development Corporation (WEDC) in supporting capital investment in the state, including the St. Croix Valley.

REGISTER HERE

The event is scheduled for Thursday, August 18 starting at 12:00 pm.

They will discuss recent successes, initiatives, and programs that are making a difference for Wisconsin businesses and entrepreneurs.

Left: Ray French  Right: Missy Hughes

Economic Beat Goes On

SCEDC BLOG

Economic Beat Goes On

BY BILL RUBIN, EXECUTIVE DIRECTOR

Headwinds. Icebergs. Torpedoes. Despite the recent gloom-and-doom economic headlines, consumers perched in a mythical crow’s nest say it’s cautiously full speed ahead, especially in Wisconsin’s St. Croix Valley. In reality, those commanding in the ship’s bridge are on heightened alert. The course remains the same – in a forward direction — even with looming obstacles.

Econ 101 reminds us the economic vitality of a region, state, or country largely depends on the spending habits of its residents. Consumer spending is an important metric because it directly impacts the measure of gross domestic product (GDP). The U.S. economy transitioned to a service-driven one long ago. At least two-thirds of consumer spending is on services. One armchair economist put it in understandable terms, “We’ve become a country of haircuts and hot dog stands.”

More Econ 101: Disposable income drives consumer spending. It’s the money potential consumers have after deducting taxes and other withholdings from paychecks. Without sufficient disposable income, no one has the funds to buy the things they need.

Nearly every household experienced serious belt tightening of late. Doubters can check on the meteoric rise of gas, food, shelter, and vehicles – new or used — up, up, and up. Wages and benefits could not simply keep pace. As fast as gas prices rose, they are parachuting downward ever so slowly. Belts were tightened. They still are, and a reoccurring topic around dinner tables likely centers on Wants versus Needs.

Even with headwinds, one measure of vitality bodes well for the St. Croix Valley. The measure is sales tax collections. Almost all Wisconsin counties opted into an extra half-cent sales tax to go along with the state’s five cent tax. A one dollar purchase of a taxable item means the bill is $1.055. On ten dollars, it’s an extra fifty-five cents. You get the picture. St. Croix County enacted its half-cent collection in April 1987. Millions have been collected and wisely expended. Rather than borrow and incur an interest charge, St. Croix County applies much of its sales tax revenue toward capital improvement projects.

Not too many years ago, a strong collection year for St. Croix was $5.5 million. Then $7.25 million. Then $9.75 million. In 2021, the county pushed through the $10 million ceiling with $10.8 million collected. A couple factors helped contribute to a county’s collection fortunes – federal stimulus money to consumers and a 2018 Supreme Court ruling requiring online retailers to collect sales taxes on electronic purchases. Cha-Ching. Five of St. Croix’s top collection months have occurred in the last 13 months, ranging from the highest of $1.13 million in June 2022 to $1.031 million in July 2022.

Weird science or armchair economist? Wants v. Needs? Smoke or Mirrors? Serendipity? Maybe it’s a little of each. Consumers will continue to spend because that’s what they do. There are big shopping days ahead, including back to school, Black Friday, Small Business Saturday, and Cyber Monday.

Icebergs or tightened belts, here’s to determined consumers in the St. Croix Valley.

June 2022 Unemployment

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St. Croix County’s June Unemployment Rate is 3.1%

On July 27th, the Wisconsin Department of Workforce Development (DWD) announced the preliminary June 2022 unemployment rates for Wisconsin’s 72 counties and the 35 cities with populations greater than 25,000 residents. St. Croix County’s June rate was estimated at 3.1%, which is higher than May’s final rate of 2.5% and April’s final rate of 3.0%. One year ago, the county’s unemployment rate was estimated at 3.8%.

DWD said preliminary unemployment rates from May to June decreased or stayed the same in three (3) of the 72 counties. Rates declined in all 72 counties year-over-year. The current rates range from 2.6% in Lafayette to 7.6% in Menominee.

Preliminary unemployment rates from May to June decreased or stayed the same in one (1) of Wisconsin’s 35 largest cities. Year-over-year the rates declined in all 35 cities. Rates ranged from 2.5% in Fitchburg to 5.4% in Milwaukee.

The five counties with the lowest unemployment rates in June include Lafayette (2.6%), Dane (2.7%), Clark (2.8%), Green (also at 2.8%), Calumet (2.2%), and Calumet (2.9%). Menominee had the highest rate in June at 7.6%, followed by Forest (5.3%), Iron (5.2%), Adams (5.1%), and Bayfield (4.9%).

St. Croix, Pierce, and Polk counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix’s rate of 3.1%, June’s preliminary rate in Pierce was 3.2% and Polk’s rate was 3.3%.

St. Croix and Pierce counties are included in the 15-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The June 2022 unemployment rate for the Twin Cities was estimated at 2.2%, which is higher than May’s final rate of 1.6% and April’s final rate of 1.5%. The unemployment rate in the Twin Cities was 3.9% in June 2021.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in June was estimated at 2.9%, which is the same as May’s final rate, but higher than April’s final rate of 2.8%. One year ago, the state’s seasonally adjusted rate was 4.0%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota for June was estimated at 1.8%, which is lower than May’s final rate of 2.0% and April’s final rate of 2.2%. Minnesota’s seasonally-adjusted rate one year ago was 3.4%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for June was estimated at 3.6%, which is the same as the final rate for both May and April. One year ago, the U.S. rate (seasonally adjusted) was estimated at 5.9%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for June was estimated at 66.4%, which is lower than the final rate of 66.5% for both May and April. One year ago, Wisconsin’s labor force participation rate was also 66.7%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in June was estimated at 62.2%, which is lower than May’s final rate of 62.3% and the same as April’s final rate of 62.2%. One year ago, the labor force participation rate in the U.S. was 61.6%.

June’s estimates are preliminary and are subject to revision within the next few weeks.