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TOLEDO, OH (Toledo News Now) -
Lucas County Treasurer Wade Kapszukiewicz has released his first ever "Wade Wire" report. He and his staff have compiled a list of local economic indicators, which he plans to release on a quarterly basis.
Kapszukiewicz's report aims to answer three basic questions:
-Are people working?
-Are people spending?
-Are people building?
The report suggests the local economy is better off today compared to a year ago. It points to unemployment in Lucas County dropping from 8.6 to 8.1 percent between June and August. There has also been a 50 percent increase in new home construction permits and a 3 percent rise in sales taxes collected by Lucas County. Plus, new car sales countywide have jumped up nearly 10 percent.
"The rebound of the auto industry locally has been pretty significant, and what we're seeing is a continuation of a five-year trend, where auto sales have rebounded, and that's probably the most robust number we have going in our factor, in terms of arguing the economy is moving in the right direction," explained Kapszukiewicz.
However, there are some trouble areas in that report, showing a decline in residential home improvements and unemployment being higher today compared to the same time last year.