Regional Update (January-March 1997)

Index The state of the states Views from the region Southeastern manufacturing survey Southeastern economic indicators

Cover Story - Environmental, Social Issues Change Florida Cane Growing

Five Members Appointed to Atlanta Fed Board of Directors

S outheastern Economic Indicators
Alabama
Quarterly Annual Averages
1995Q4 1996Q1 1996Q2 1996Q3 1996Q4 1993 1994 1995 1996
Total Payroll Employmenta 1,812.6 1,818.1 1,822.4 1,828.0 1,834.1 1,716.7 1,758.4 1,803.5 1,825.7
Year-over-Year Percent Change 1.7 1.4 1.1 1.3 1.2 2.5 2.4 2.6 1.2
Quarterly Percent Change 0.4 0.3 0.2 0.3 0.3
Manufacturing Payroll Employmenta 389.3 386.5 382.6 381.5 381.2 384.2 386.4 391.8 383.0
Year-over-Year Percent Change -0.4 -1.9 -2.6 -2.5 -2.1 0.9 0.6 1.4 -2.3
Quarterly Percent Change -0.5 -0.7 -1.0 -0.3 -0.1
Civilian Unemployment Rate 6.1 5.6 5.4 4.9 4.6 7.6 6.0 6.3 5.1
Initial Unemployment Claimsb 449.3 409.8 364.3 320.5 325.8 362.9 300.1 361.7 355.1
Year-over-Year Percent Change 70.3 39.3 12.4 -15.4 -27.5 2.0 -17.3 20.5 -1.8
Quarterly Percent Change 18.5 -8.8 -11.1 -12.0 1.7
Single-Family Building Permitsc 14,785 17,476 17,273 16,966 17,503 12,815 14,443 13,412 17,304
Year-over-Year Percent Change 7.3 44.7 33.6 22.5 18.4 11.0 12.7 -7.1 29.0
Quarterly Percent Change 6.7 18.2 -1.2 -1.8 3.2
Multifamily-Building Permitsc 8,484 3,331 4,866 4,489 12,135 3,290 4,693 6,702 6,205
Year-over-Year Percent Change 103.3 -36.6 -29.7 -27.0 43.0 39.5 42.6 42.8 -7.4
Quarterly Percent Change 37.9 -60.7 46.1 -7.7 170.3
Personal Incomed 82.8 84.0 85.5 86.9 -- 73.0 77.0 81.6 64.1
Year-over-Year Percent Change 4.9 4.4 5.5 5.9 -- 4.5 5.6 5.9 -21.4
Quarterly Percent Change 0.9 1.4 1.8 1.6 --
Birmingham
Total Payroll Employmenta 445.6 448.1 449.9 450.1 450.4 418.5 429.9 442.8 449.6
Year-over-Year Percent Change 2.5 1.8 1.9 1.4 1.1 2.3 2.7 3.0 1.5
Quarterly Percent Change 0.3 0.6 0.4 0.0 0.1
Civilian Unemployment Rate 4.2 3.2 3.3 2.8 3.1 5.6 4.1 4.3 3.1
Florida
Quarterly Annual Averages
1995Q4 1996Q1 1996Q2 1996Q3 1996Q4 1993 1994 1995 1996
Total Payroll Employmenta 6,074.1 6,113.5 6,148.2 6,206.5 6,263.0 5,571.5 5,799.4 5,996.2 6,182.8
Year-over-Year Percent Change 3.2 3.0 3.0 3.3 3.1 4.0 4.1 3.4 3.1
Quarterly Percent Change 1.1 0.6 0.6 0.9 0.9
Manufacturing Payroll Employmenta 489.3 489.4 488.6 492.1 492.4 485.2 484.0 486.5 490.6
Year-over-Year Percent Change 1.3 1.1 0.6 1.0 0.6 0.5 -0.2 0.5 0.8
Quarterly Percent Change 0.5 0.0 -0.2 0.7 0.1
Civilian Unemployment Rate 5.4 5.6 5.2 5.2 5.0 7.0 6.6 5.5 5.3
Initial Unemployment Claimsb 460.6 490.3 491.5 468.6 442.1 514.7 511.5 481.9 473.1
Year-over-Year Percent Change -0.1 2.6 -2.8 -3.1 -4.0 -17.9 -0.6 -5.8 -1.8
Quarterly Percent Change -4.7 6.5 0.2 -4.7 -5.7
Single-Family Building Permitsc 88,704 85,060 88,191 86,130 85,138 91,261 96,276 84,071 86,130
Year-over-Year Percent Change 0.3 0.2 9.6 4.8 -4.0 9.0 5.5 -12.7 2.4
Quarterly Percent Change 7.9 -4.1 3.7 -2.3 -1.2
Multifamily-Building Permitsc 44,891 34,116 30,498 40,792 27,744 23,842 32,326 38,832 33,287
Year-over-Year Percent Change 28.9 -9.5 -14.5 10.0 -38.2 30.2 35.6 20.1 -14.3
Quarterly Percent Change 21.1 -24.0 -10.6 33.8 -32.0
Personal Incomed 333.6 341.1 344.7 350.2 -- 290.1 304.1 326.7 259.0
Year-over-Year Percent Change 7.2 6.6 6.4 6.3 -- 7.6 4.8 7.4 -20.7
Quarterly Percent Change 1.3 2.3 1.0 1.6 --
Fort Lauderdale
Total Payroll Employmenta 593.0 598.1 603.8 610.0 613.9 540.1 564.8 584.7 606.5
Year-over-Year Percent Change 3.5 3.5 3.9 4.0 3.5 5.2 4.6 3.5 3.7
Quarterly Percent Change 1.1 0.9 1.0 1.0 0.6
Civilian Unemployment Rate 5.8 5.7 5.2 5.1 5.1 6.9 6.5 5.7 5.3
Jacksonville
Total Payroll Employmenta 489.8 491.5 491.9 495.5 503.2 438.6 459.4 482.2 495.5
Year-over-Year Percent Change 4.6 3.6 2.4 2.3 2.7 3.5 4.7 5.0 2.8
Quarterly Percent Change 1.1 0.4 0.1 0.7 1.5
Civilian Unemployment Rate 3.8 3.6 3.6 3.8 3.8 5.5 4.8 3.7 3.7
Miami
Total Payroll Employmenta 931.8 933.3 937.6 945.3 949.3 890.8 909.9 926.6 941.4
Year-over-Year Percent Change 1.7 1.0 1.5 2.1 1.9 3.9 2.1 1.8 1.6
Quarterly Percent Change 0.6 0.2 0.5 0.8 0.4
Civilian Unemployment Rate 7.5 7.2 7.6 7.3 7.6 8.2 8.4 7.3 7.4
Orlando
Total Payroll Employmenta 728.2 732.6 742.3 753.0 765.7 650.0 682.8 714.0 748.4
Year-over-Year Percent Change 4.8 4.2 4.9 5.1 5.1 5.1 5.0 4.6 4.8
Quarterly Percent Change 1.6 0.6 1.3 1.5 1.7
Civilian Unemployment Rate 4.5 4.5 3.9 3.7 3.9 6.1 5.7 4.5 4.0
Tampa
Total Payroll Employmenta 1,005.4 1,012.4 1,015.1 1,025.7 1,032.5 903.7 957.4 993.8 1,021.4
Year-over-Year Percent Change 3.3 3.0 2.4 3.0 2.7 4.2 5.9 3.8 2.8
Quarterly Percent Change 0.9 0.7 0.3 1.0 0.7
Civilian Unemployment Rate 4.5 4.4 4.0 3.8 3.9 6.4 5.3 4.4 4.0
West Palm Beach
Total Payroll Employmenta 405.9 409.1 414.4 419.6 422.6 369.5 386.1 399.1 416.4
Year-over-Year Percent Change 3.9 4.2 4.4 4.7 4.1 4.1 4.5 3.4 4.4
Quarterly Percent Change 1.3 0.8 1.3 1.3 0.7
Civilian Unemployment Rate 7.4 7.4 6.8 6.9 7.0 9.0 8.8 7.2 7.0
Georgia
Quarterly Annual Averages
1995Q4 1996Q1 1996Q2 1996Q3 1996Q4 1993 1994 1995 1996
Total Payroll Employmenta 3,443.5 3,481.3 3,521.3 3,553.9 3,558.7 3,109.1 3,265.8 3,402.2 3,528.8
Year-over-Year Percent Change 3.4 3.5 3.9 4.2 3.3 4.1 5.0 4.2 3.7
Quarterly Percent Change 0.9 1.1 1.2 0.9 0.1
Manufacturing Payroll Employmenta 583.1 583.8 581.9 585.4 588.2 558.3 577.3 586.9 584.8
Year-over-Year Percent Change -0.6 -1.2 -1.3 0.3 0.9 2.4 3.4 1.7 -0.4
Quarterly Percent Change -0.1 0.1 -0.3 0.6 0.5
Civilian Unemployment Rate 4.9 4.6 4.5 4.4 4.5 5.8 5.2 4.9 4.5
Initial Unemployment Claimsb 400.1 403.2 362.5 357.0 357.1 407.3 387.3 407.5 369.9
Year-over-Year Percent Change 13.4 8.5 -17.1 -15.2 -10.8 -9.5 -4.9 5.2 -9.2
Quarterly Percent Change -4.9 0.8 -10.1 -1.5 0.0
Single-Family Building Permitsc 58,491 64,942 69,419 60,716 59,633 47,599 52,530 55,027 63,677
Year-over-Year Percent Change 10.9 32.0 29.5 3.2 2.0 13.1 10.4 4.8 15.7
Quarterly Percent Change -0.5 11.0 6.9 -12.5 -1.8
Multifamily-Building Permitsc 13,319 17,084 20,232 21,072 11,223 6,275 12,330 17,198 17,403
Year-over-Year Percent Change -14.3 -9.1 -6.0 39.0 -15.7 153.1 96.5 39.5 1.2
Quarterly Percent Change -12.2 28.3 18.4 4.2 -46.7
Personal Incomed 160.9 162.8 167.2 170.5 -- 135.7 145.4 156.6 125.1
Year-over-Year Percent Change 7.4 6.4 8.1 8.2 -- 6.1 7.1 7.7 -20.1
Quarterly Percent Change 2.1 1.2 2.7 1.9 --
Atlanta
Total Payroll Employmenta 1,849.3 1,872.1 1,901.7 1,923.2 1,924.6 1,635.2 1,732.9 1,817.0 1,905.4
Year-over-Year Percent Change 4.4 4.6 5.4 5.5 4.1 5.5 6.0 4.9 4.9
Quarterly Percent Change 1.4 1.2 1.6 1.1 0.1
Civilian Unemployment Rate 4.3 3.8 3.6 3.7 4.0 5.3 4.7 4.3 3.8
Louisiana
Quarterly Annual Averages
1995Q4 1996Q1 1996Q2 1996Q3 1996Q4 1993 1994 1995 1996
Total Payroll Employmenta 1,783.8 1,794.3 1,807.1 1,815.0 1,827.1 1,658.6 1,722.1 1,772.3 1,810.9
Year-over-Year Percent Change 2.1 2.1 2.3 1.9 2.4 1.9 3.8 2.9 2.2
Quarterly Percent Change 0.1 0.6 0.7 0.4 0.7
Manufacturing Payroll Employmenta 187.8 187.5 188.5 188.6 188.2 185.4 186.5 188.0 188.2
Year-over-Year Percent Change 0.1 -0.1 0.2 0.1 0.2 0.2 0.6 0.8 0.1
Quarterly Percent Change -0.3 -0.1 0.5 0.1 -0.2
Civilian Unemployment Rate 6.5 6.5 6.6 6.8 6.6 7.5 8.1 6.9 6.6
Initial Unemployment Claimsb 212.5 185.6 170.6 174.8 170.3 200.7 187.8 199.3 175.3
Year-over-Year Percent Change 23.0 -5.5 -12.5 -9.7 -19.9 -18.4 -6.4 6.1 -12.0
Quarterly Percent Change 9.8 -12.7 -8.1 2.5 -2.6
Single-Family Building Permitsc 13,138 14,317 14,522 13,251 13,674 10,363 12,758 12,461 13,941
Year-over-Year Percent Change 7.7 24.3 19.7 1.5 4.1 17.0 23.1 -2.3 11.9
Quarterly Percent Change 0.6 9.0 1.4 -8.8 3.2
Multifamily-Building Permitsc 2,306 2,567 3,655 1,589 3,300 863 2,024 2,262 2,778
Year-over-Year Percent Change 39.1 -23.2 170.7 -22.5 43.1 -3.1 134.5 11.8 22.8
Quarterly Percent Change 12.5 11.3 42.4 -56.5 107.7
Personal Incomed 83.6 84.3 85.9 86.9 -- 73.7 78.1 82.4 64.3
Year-over-Year Percent Change 5.2 4.1 4.9 4.4 -- 5.3 5.9 5.6 -22.0
Quarterly Percent Change 0.4 0.9 1.9 1.2 --
New Orleans
Total Payroll Employmenta 599.5 599.3 604.2 605.2 605.6 569.7 584.9 598.8 603.6
Year-over-Year Percent Change 1.2 0.6 0.7 0.8 1.0 1.5 2.7 2.4 0.8
Quarterly Percent Change -0.1 0.0 0.8 0.2 0.1
Civilian Unemployment Rate 6.4 6.5 6.2 6.4 6.2 7.0 7.4 6.4 6.3
Mississippi
Quarterly Annual Averages
1995Q4 1996Q1 1996Q2 1996Q3 1996Q4 1993 1994 1995 1996
Total Payroll Employmenta 1,077.2 1,081.5 1,089.3 1,095.8 1,095.8 1,002.2 1,055.5 1,074.6 1,090.6
Year-over-Year Percent Change 1.1 0.8 1.5 1.9 1.7 4.4 5.3 1.8 1.5
Quarterly Percent Change 0.2 0.4 0.7 0.6 0.0
Manufacturing Payroll Employmenta 252.0 247.7 247.6 245.6 242.1 255.7 261.0 257.8 245.7
Year-over-Year Percent Change -3.9 -6.1 -4.8 -3.9 -3.9 1.5 2.1 -1.2 -4.7
Quarterly Percent Change -1.3 -1.7 0.0 -0.8 -1.4
Civilian Unemployment Rate 6.2 6.2 6.1 5.8 5.6 6.4 6.6 6.1 5.9
Initial Unemployment Claimsb 225.1 211.9 186.0 173.2 208.6 160.2 161.4 199.4 194.9
Year-over-Year Percent Change 46.7 31.4 -3.1 -20.9 -7.4 -22.7 0.8 23.5 -2.2
Quarterly Percent Change 2.7 -5.9 -12.2 -6.9 20.4
Single-Family Building Permitsc 7,669 9,340 9,099 8,481 8,987 6,870 7,976 7,267 8,977
Year-over-Year Percent Change 2.3 43.1 24.9 11.9 17.2 25.2 16.1 -8.9 23.5
Quarterly Percent Change 1.1 21.8 -2.6 -6.8 6.0
Multifamily-Building Permitsc 3,978 3,347 4,495 1,145 1,759 1,246 2,957 3,486 2,686
Year-over-Year Percent Change 54.7 -49.3 116.4 -11.0 -55.8 49.4 137.3 17.9 -22.9
Quarterly Percent Change 209.1 -15.9 34.3 -74.5 53.7
Personal Incomed 45.9 46.2 47.1 47.6 -- 39.2 42.5 45.0 35.2
Year-over-Year Percent Change 5.6 4.6 5.5 5.1 -- 5.8 8.3 6.0 -21.7
Quarterly Percent Change 1.4 0.6 2.0 1.1 --
Jackson
Total Payroll Employmenta 211.7 214.4 215.5 216.2 217.1 195.7 204.5 209.7 215.8
Year-over-Year Percent Change 2.7 3.2 3.3 2.6 2.5 2.9 4.5 2.5 2.9
Quarterly Percent Change 0.5 1.2 0.5 0.3 0.4
Civilian Unemployment Rate 3.8 3.9 3.6 3.3 3.2 4.7 4.5 3.9 3.5
Tennessee
Quarterly Annual Averages
1995Q4 1996Q1 1996Q2 1996Q3 1996Q4 1993 1994 1995 1996
Total Payroll Employmenta 2,521.2 2,529.3 2,528.6 2,533.5 2,549.9 2,328.3 2,422.9 2,498.8 2,535.3
Year-over-Year Percent Change 2.4 2.0 1.6 1.1 1.1 3.7 4.1 3.1 1.5
Quarterly Percent Change 0.6 0.3 0.0 0.2 0.6
Manufacturing Payroll Employmenta 531.7 526.2 522.0 520.5 520.9 528.5 539.0 538.9 522.4
Year-over-Year Percent Change -2.1 -3.8 -3.6 -2.8 -2.0 2.7 2.0 0.0 -3.1
Quarterly Percent Change -0.7 -1.0 -0.8 -0.3 0.1
Civilian Unemployment Rate 5.3 5.4 5.1 5.0 5.1 5.8 4.8 5.2 5.2
Initial Unemployment Claimsb 502.1 523.7 471.5 490.5 507.8 410.5 387.8 437.5 498.4
Year-over-Year Percent Change 50.2 37.8 16.0 6.3 1.1 -12.5 -5.5 12.8 13.9
Quarterly Percent Change 8.8 4.3 -10.0 4.0 3.5
Single-Family Building Permitsc 29,095 28,050 28,882 25,082 25,030 24,065 26,824 27,695 26,761
Year-over-Year Percent Change 10.3 8.3 10.6 -15.5 -14.0 13.4 11.5 3.2 -3.4
Quarterly Percent Change -2.0 -3.6 3.0 -13.2 -0.2
Multifamily-Building Permitsc 7,934 7,333 14,823 15,818 11,421 2,919 5,050 7,401 12,349
Year-over-Year Percent Change 111.2 -23.5 208.6 117.4 43.9 38.7 73.0 46.6 66.9
Quarterly Percent Change 9.0 -7.6 102.1 6.7 -27.8
Personal Incomed 112.9 113.0 115.0 116.5 -- 96.7 103.4 110.6 86.1
Year-over-Year Percent Change 5.8 4.1 4.8 4.8 -- 5.6 7.0 6.9 -22.1
Quarterly Percent Change 1.6 0.1 1.7 1.4 --
Memphis
Total Payroll Employmenta 540.3 542.5 543.1 542.2 548.9 491.8 512.6 534.7 544.2
Year-over-Year Percent Change 3.0 2.4 2.4 0.8 1.6 1.9 4.2 4.3 1.8
Quarterly Percent Change 0.4 0.4 0.1 -0.2 1.2
Civilian Unemployment Rate 5.0 4.6 4.1 3.9 4.1 5.6 4.8 4.9 4.2
Nashville
Total Payroll Employmenta 603.6 604.8 605.2 607.5 611.2 541.8 570.8 595.4 607.2
Year-over-Year Percent Change 3.6 2.5 2.3 1.9 1.3 5.3 5.4 4.3 2.0
Quarterly Percent Change 1.2 0.2 0.1 0.4 0.6
Civilian Unemployment Rate 3.4 3.4 2.9 3.0 3.3 4.1 3.1 3.3 3.1

a Thousands, seasonally adjusted
b Thousands, seasonally adjusted annual rate
c Units, seasonally adjusted annual rate
d $ billions, seasonally adjusted annual rate
Sources: Payroll Employment and Civilian Unemployment Rate: U.S. Department of Labor, Bureau of Labor Statistics. Initial Unemployment Claims: U.S. Department of Labor, Employment and Training Administration. Single- and Multifamily Building Permits: U.S. Bureau of the Census, Construction Statistics Division. Nonresidential Contracts: U.S. Bureau of the Census, Construction Statistics Division. Personal Income: Bureau of Economic Analysis. Quarterly estimates of all construction data reflect annual benchmark revisions.

All the data were obtained and seasonally adjusted by Regional Financial Associates. Small differences from previously published data reflect revisions of seasonal factors. The U.S. Department of Commerce has discontinued the series on nonresidential contracts.