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10 | I NSIGH T • M a r c h 2 0 1 6 w w w . i n s i g h t o n b u s i n e s s . c o m UP FRONT R e g i o n a l R o u n d u p » 1 1 F a c e T i m e » 1 5 C o n n e c t i o n s » 1 7 "It has taken us 16 years to get to this level." – Manny Vasquez, Fox Cities Regional Partnership N O R T H E A S T W I S C O N S I N ' S economy is in great shape by nearly every measure. e facts on employment, housing and consumer confidence are strong here as well as statewide and nationally, according to national economists who addressed groups of businesspeople throughout the region. Unemployment stands at 3.6 percent in the Fox Cities, for example, compared to 4.1 percent last year and a national average of just under 5 percent. Manny Vasquez of the Fox Cities Regional Partnership shared the good news during the Fox Cities Chamber's annual economic outlook breakfast in February. Business leaders heard similar news at events hosted by St. Norbert College's Donald J. Schneider School of Business and the Oshkosh Chamber of Commerce economic outlook breakfast. Perceptions of businesspeople reflected the good news in a survey answered by more than 200 members of the Fox Cities Chamber. About 62 percent said the local economic vitality is currently "excellent or good," the highest rating since 2007. Further: • 53 percent said employment in 2015 was ahead of the previous year — the largest percentage since 2000. "It has taken us 16 years to get to this level," Vasquez said. • 63 percent said 2015 was their best B y M a r g a r e t L e B r u n & S e a n P. J o h n s o n Good days ahead Economic reports: A robust regional economy year for gross profits since 2006. In the wholesale and retail sector, a whopping 81 percent said profits improved last year. • 27 percent said they anticipate capital expansion in 2016 — a 7-point increase from the previous year. Even better, 40 percent of manufacturers who responded (about 20) said they plan to expand. • 70 percent said they believe sales will increase in 2016, the highest number since 2006. Also at the Fox Cities event, JP Morgan Chase Chief Economist Anthony Chan said we face a "25 percent chance" of recession. Turn it around, however, and a 75 percent chance the economy remains robust or at least steady shows "things are not as bad as what you hear in the presidential campaign," Chan said. St. Norbert College economic event Plunging oil prices and the dramatically slower pace of production from China are among the factors that will begin trickling down to the state's economy, Marc Schaffer, assistant professor of Wisconsin unemployment will normalize during the next several months.