Regional Update (April-June 1997)

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

Cover Story - Chinese Crawfish Reduce Louisiana Market Share

Building the Capital of the New South: A Review of Atlanta Rising

S outheastern Economic Indicators
Alabama
Quarterly Annual Averages
1996Q1 1996Q2 1996Q3 1996Q4 1997Q1 1993 1994 1995 1996
Total Payroll Employmenta 1,818.1 1,822.4 1,828.0 1,834.1 1,840.5 1,716.7 1,758.4 1,803.5 1,825.7
Year-over-Year Percent Change 1.4 1.1 1.3 1.2 1.2 2.5 2.4 2.6 1.2
Quarterly Percent Change 0.3 0.2 0.3 0.3 0.3
Manufacturing Payroll Employmenta 386.5 382.6 381.5 381.2 382.6 384.2 386.4 391.8 383.0
Year-over-Year Percent Change -1.9 -2.6 -2.5 -2.1 -1.0 0.9 0.6 1.4 -2.3
Quarterly Percent Change -0.7 -1.0 -0.3 -0.1 0.4
Civilian Unemployment Rate 5.6 5.4 4.9 4.6 4.4 7.6 6.0 6.3 5.1
Initial Unemployment Claimsb 405.9 367.1 326.7 328.0 298.4 364.2 301.6 365.4 356.9
Year-over-Year Percent Change 39.4 12.1 -15.3 -28.2 -26.5 2.2 -17.2 21.2 -2.3
Quarterly Percent Change -11.2 -9.6 -11.0 0.4 -9.0
Single-Family Building Permitsc 14,936 14,924 14,450 13,953 13,424 12,815 14,443 13,412 14,566
Year-over-Year Percent Change 22.4 15.6 4.2 -4.8 -10.1 11.0 12.7 -7.1 8.6
Quarterly Percent Change 1.9 -0.1 -3.2 -3.4 -3.8
Multifamily-Building Permitsc 3,086 4,259 4,201 9,662 7,620 3,290 4,693 6,702 5,302
Year-over-Year Percent Change -45.0 -37.7 -38.8 -28.9 147.0 39.5 42.6 42.8 -20.9
Quarterly Percent Change -58.8 38.0 -1.4 130.0 -21.1
Personal Incomed 83.7 85.1 86.5 87.4 -- 73.0 77.0 81.6 85.7
Year-over-Year Percent Change 4.0 5.1 5.5 5.6 -- 4.5 5.6 5.9 5.1
Quarterly Percent Change 1.1 1.7 1.7 1.0 --
Birmingham
Total Payroll Employmenta 448.1 449.9 450.1 450.4 453.8 418.5 429.9 442.8 449.6
Year-over-Year Percent Change 1.8 1.9 1.4 1.1 1.3 2.3 2.7 3.0 1.5
Quarterly Percent Change 0.6 0.4 0.0 0.1 0.8
Civilian Unemployment Rate 3.2 3.3 2.8 3.1 2.8 5.6 4.1 4.3 3.1
Florida
Quarterly Annual Averages
1996Q1 1996Q2 1996Q3 1996Q4 1997Q1 1993 1994 1995 1996
Total Payroll Employmenta 6,113.5 6,148.2 6,206.5 6,263.0 6,316.6 5,571.5 5,799.4 5,996.2 6,182.8
Year-over-Year Percent Change 3.0 3.0 3.3 3.1 3.3 4.0 4.1 3.4 3.1
Quarterly Percent Change 0.6 0.6 0.9 0.9 0.9
Manufacturing Payroll Employmenta 489.4 488.6 492.1 492.4 492.4 485.2 484.0 486.5 490.6
Year-over-Year Percent Change 1.1 0.6 1.0 0.6 0.6 0.5 -0.2 0.5 0.8
Quarterly Percent Change 0.0 -0.2 0.7 0.1 0.0
Civilian Unemployment Rate 5.6 5.2 5.2 5.2 4.9 7.0 6.6 5.5 5.3
Initial Unemployment Claimsb 489.6 482.9 469.3 450.5 448.8 515.3 511.7 482.3 473.1
Year-over-Year Percent Change 2.1 -3.0 -3.0 -3.7 -8.3 -17.8 -0.7 -5.8 -1.9
Quarterly Percent Change 4.6 -1.4 -2.8 -4.0 -0.4
Single-Family Building Permitsc 89,922 92,802 90,824 90,612 90,074 91,261 96,276 84,071 91,040
Year-over-Year Percent Change 4.0 12.6 7.0 9.8 0.2 9.0 5.5 -12.7 8.3
Quarterly Percent Change 9.0 3.2 -2.1 -0.2 -0.6
Multifamily-Building Permitsc 33,968 33,811 38,709 29,432 41,596 23,842 32,326 38,832 33,980
Year-over-Year Percent Change -11.8 -12.7 8.4 -30.5 22.5 30.2 35.6 20.1 -12.5
Quarterly Percent Change -19.8 -0.5 14.5 -24.0 41.3
Personal Incomed 340.4 344.1 349.3 354.7 -- 290.1 304.1 326.7 347.1
Year-over-Year Percent Change 6.4 6.3 6.1 6.3 -- 7.6 4.8 7.4 6.3
Quarterly Percent Change 2.0 1.1 1.5 1.5 --
Fort Lauderdale
Total Payroll Employmenta 598.1 603.8 610.0 613.9 619.6 540.1 564.8 584.7 606.5
Year-over-Year Percent Change 3.5 3.9 4.0 3.5 3.6 5.2 4.6 3.5 3.7
Quarterly Percent Change 0.9 1.0 1.0 0.6 0.9
Civilian Unemployment Rate 5.7 5.2 5.1 5.1 5.1 6.9 6.5 5.7 5.3
Jacksonville
Total Payroll Employmenta 491.5 491.9 495.5 503.2 509.4 438.6 459.4 482.2 495.5
Year-over-Year Percent Change 3.6 2.4 2.3 2.7 3.6 3.5 4.7 5.0 2.8
Quarterly Percent Change 0.4 0.1 0.7 1.5 1.2
Civilian Unemployment Rate 3.6 3.6 3.8 3.8 3.5 5.5 4.8 3.7 3.7
Miami
Total Payroll Employmenta 933.3 937.6 945.3 949.3 953.1 890.8 909.9 926.6 941.4
Year-over-Year Percent Change 1.0 1.5 2.1 1.9 2.1 3.9 2.1 1.8 1.6
Quarterly Percent Change 0.2 0.5 0.8 0.4 0.4
Civilian Unemployment Rate 7.2 7.6 7.3 7.6 7.4 8.2 8.4 7.3 7.4
Orlando
Total Payroll Employmenta 732.6 742.3 753.0 765.7 777.4 650.0 682.8 714.0 748.4
Year-over-Year Percent Change 4.2 4.9 5.1 5.1 6.1 5.1 5.0 4.6 4.8
Quarterly Percent Change 0.6 1.3 1.5 1.7 1.5
Civilian Unemployment Rate 4.5 3.9 3.7 3.9 3.5 6.1 5.7 4.5 4.0
Tampa
Total Payroll Employmenta 1,012.4 1,015.1 1,025.7 1,032.5 1,044.5 903.7 957.4 993.8 1,021.4
Year-over-Year Percent Change 3.0 2.4 3.0 2.7 3.0 4.2 5.9 3.8 2.8
Quarterly Percent Change 0.7 0.3 1.0 0.7 1.2
Civilian Unemployment Rate 4.4 4.0 3.8 3.9 3.5 6.4 5.3 4.4 4.0
West Palm Beach
Total Payroll Employmenta 409.1 414.4 419.6 422.6 426.2 369.5 386.1 399.1 416.4
Year-over-Year Percent Change 4.2 4.4 4.7 4.1 4.2 4.1 4.5 3.4 4.4
Quarterly Percent Change 0.8 1.3 1.3 0.7 0.9
Civilian Unemployment Rate 7.4 6.8 6.9 7.0 6.7 9.0 8.8 7.2 7.0
Georgia
Quarterly Annual Averages
1996Q1 1996Q2 1996Q3 1996Q4 1997Q1 1993 1994 1995 1996
Total Payroll Employmenta 3,481.3 3,521.3 3,553.9 3,558.7 3,560.5 3,109.1 3,265.8 3,402.2 3,528.8
Year-over-Year Percent Change 3.5 3.9 4.2 3.3 2.3 4.1 5.0 4.2 3.7
Quarterly Percent Change 1.1 1.2 0.9 0.1 0.0
Manufacturing Payroll Employmenta 583.8 581.9 585.4 588.2 588.5 558.3 577.3 586.9 584.8
Year-over-Year Percent Change -1.2 -1.3 0.3 0.9 0.8 2.4 3.4 1.7 -0.4
Quarterly Percent Change 0.1 -0.3 0.6 0.5 0.0
Civilian Unemployment Rate 4.6 4.5 4.4 4.5 4.7 5.8 5.2 4.9 4.5
Initial Unemployment Claimsb 401.4 360.8 355.8 363.0 341.6 408.1 387.8 408.4 370.2
Year-over-Year Percent Change 8.3 -17.2 -15.2 -11.0 -14.9 -9.3 -5.0 5.3 -9.3
Quarterly Percent Change -1.6 -10.1 -1.4 2.0 -5.9
Single-Family Building Permitsc 60,583 62,533 57,607 56,865 54,765 47,599 52,530 55,027 59,397
Year-over-Year Percent Change 21.9 18.1 -2.4 -2.7 -9.6 13.4 10.4 4.8 7.9
Quarterly Percent Change 3.6 3.2 -7.9 -1.3 -3.7
Multifamily-Building Permitsc 15,130 17,590 17,224 11,964 15,083 6,275 12,330 17,198 15,477
Year-over-Year Percent Change -13.6 -17.3 10.8 -17.2 -0.3 153.1 96.5 39.5 -10.0
Quarterly Percent Change 4.7 16.3 -2.1 -30.5 26.1
Personal Incomed 161.6 165.9 169.1 171.3 -- 135.7 145.4 156.6 167.0
Year-over-Year Percent Change 5.6 7.3 7.3 6.5 -- 6.1 7.1 7.7 6.7
Quarterly Percent Change 0.4 2.7 1.9 1.3 --
Atlanta
Total Payroll Employmenta 1,872.1 1,901.7 1,923.2 1,924.6 1,938.7 1,635.2 1,732.9 1,817.0 1,905.4
Year-over-Year Percent Change 4.6 5.4 5.5 4.1 3.6 5.5 6.0 4.9 4.9
Quarterly Percent Change 1.2 1.6 1.1 0.1 0.7
Civilian Unemployment Rate 3.8 3.6 3.7 4.0 3.7 5.3 4.7 4.3 3.8
Louisiana
Quarterly Annual Averages
1996Q1 1996Q2 1996Q3 1996Q4 1997Q1 1993 1994 1995 1996
Total Payroll Employmenta 1,794.3 1,807.1 1,815.0 1,827.1 1,830.5 1,658.6 1,722.1 1,772.3 1,810.9
Year-over-Year Percent Change 2.1 2.3 1.9 2.4 2.0 1.9 3.8 2.9 2.2
Quarterly Percent Change 0.6 0.7 0.4 0.7 0.2
Manufacturing Payroll Employmenta 187.5 188.5 188.6 188.2 188.2 185.4 186.5 188.0 188.2
Year-over-Year Percent Change -0.1 0.2 0.1 0.2 0.4 0.2 0.6 0.8 0.1
Quarterly Percent Change -0.1 0.5 0.1 -0.2 0.0
Civilian Unemployment Rate 6.5 6.6 6.8 6.6 5.6 7.5 8.1 6.9 6.6
Initial Unemployment Claimsb 186.3 171.8 175.1 168.7 175.0 200.5 187.8 199.2 175.5
Year-over-Year Percent Change -5.0 -12.5 -9.6 -20.0 -6.1 -18.5 -6.3 6.0 -11.9
Quarterly Percent Change -11.7 -7.8 2.0 -3.7 3.7
Single-Family Building Permitsc 14,678 14,946 13,903 14,161 12,914 10,363 12,758 12,461 14,422
Year-over-Year Percent Change 27.5 24.1 6.4 7.2 -12.0 17.0 23.1 -2.3 15.7
Quarterly Percent Change 11.1 1.8 -7.0 1.9 -8.8
Multifamily-Building Permitsc 3,196 4,687 2,366 4,055 4,191 863 2,024 2,262 3,576
Year-over-Year Percent Change 7.5 259.3 3.5 63.3 31.1 -3.1 134.5 11.8 58.1
Quarterly Percent Change 28.7 46.7 -49.5 71.4 3.3
Personal Incomed 84.3 85.9 86.9 87.9 -- 73.7 78.1 82.4 86.2
Year-over-Year Percent Change 4.1 4.9 4.3 5.2 -- 5.3 5.9 5.6 4.6
Quarterly Percent Change 0.9 1.9 1.1 1.2 --
New Orleans
Total Payroll Employmenta 599.3 604.2 605.2 605.6 606.8 569.7 584.9 598.8 603.6
Year-over-Year Percent Change 0.6 0.7 0.8 1.0 1.3 1.5 2.7 2.4 0.8
Quarterly Percent Change 0.0 0.8 0.2 0.1 0.2
Civilian Unemployment Rate 6.5 6.2 6.4 6.2 5.2 7.0 7.4 6.4 6.3
Mississippi
Quarterly Annual Averages
1996Q1 1996Q2 1996Q3 1996Q4 1997Q1 1993 1994 1995 1996
Total Payroll Employmenta 1,081.5 1,089.3 1,095.8 1,095.8 1,094.3 1,002.2 1,055.5 1,074.6 1,090.6
Year-over-Year Percent Change 0.8 1.5 1.9 1.7 1.2 4.4 5.3 1.8 1.5
Quarterly Percent Change 0.4 0.7 0.6 0.0 -0.1
Manufacturing Payroll Employmenta 247.7 247.6 245.6 242.1 242.0 255.7 261.0 257.8 245.7
Year-over-Year Percent Change -6.1 -4.8 -3.9 -3.9 -2.3 1.5 2.1 -1.2 -4.7
Quarterly Percent Change -1.7 0.0 -0.8 -1.4 0.0
Civilian Unemployment Rate 6.2 6.1 5.8 5.6 5.6 6.4 6.6 6.1 5.9
Initial Unemployment Claimsb 212.9 190.9 174.6 201.2 172.7 160.3 161.6 199.2 194.9
Year-over-Year Percent Change 31.7 -2.7 -20.7 -8.1 -18.9 -22.7 0.8 23.2 -2.1
Quarterly Percent Change -2.7 -10.4 -8.5 15.2 -14.1
Single-Family Building Permitsc 8,8310 8,150 7,722 8,061 7,013 6,870 7,976 7,267 8,061
Year-over-Year Percent Change 28.2 15.4 -1.4 4.9 -15.6 25.2 16.1 -8.9 10.9
Quarterly Percent Change 8.1 -1.9 -5.3 4.4 -13.0
Multifamily-Building Permitsc 2,501 3,211 1,448 2,064 2,053 1,246 2,957 3,486 2,306
Year-over-Year Percent Change -48.6 47.0 -42.3 -53.0 -17.9 49.4 137.3 17.9 -33.9
Quarterly Percent Change -43.0 28.4 -54.9 42.5 -0.5
Personal Incomed 46.3 47.3 48.0 48.3 -- 39.2 42.5 45.0 47.5
Year-over-Year Percent Change 4.8 5.9 5.9 5.2 -- 5.8 8.3 6.0 5.5
Quarterly Percent Change 0.8 2.1 1.5 0.6 --
Jackson
Total Payroll Employmenta 214.4 215.5 216.2 217.1 217.2 195.7 204.5 209.7 215.8
Year-over-Year Percent Change 3.2 3.3 2.6 2.5 1.3 2.9 4.5 2.5 2.9
Quarterly Percent Change 1.2 0.5 0.3 0.4 0.1
Civilian Unemployment Rate 3.9 3.6 3.3 3.2 3.2 4.7 4.5 3.9 3.5
Tennessee
Quarterly Annual Averages
1996Q1 1996Q2 1996Q3 1996Q4 1997Q1 1993 1994 1995 1996
Total Payroll Employmenta 2,529.3 2,528.6 2,533.5 2,549.9 2,555.9 2,328.3 2,422.9 2,498.8 2,535.3
Year-over-Year Percent Change 2.0 1.6 1.1 1.1 1.1 3.7 4.1 3.1 1.5
Quarterly Percent Change 0.3 0.0 0.2 0.6 0.2
Manufacturing Payroll Employmenta 526.2 522.0 520.5 520.9 519.4 528.5 539.0 538.9 522.4
Year-over-Year Percent Change -3.8 -3.6 -2.8 -2.0 -1.3 2.7 2.0 -0.0 -3.1
Quarterly Percent Change -1.0 -0.8 -0.3 0.1 -0.3
Civilian Unemployment Rate 5.4 5.1 5.0 5.1 5.1 5.8 4.8 5.2 5.2
Initial Unemployment Claimsb 516.4 478.9 491.2 515.9 402.2 511.5 389.3 441.2 500.6
Year-over-Year Percent Change 37.3 15.7 6.2 0.7 -22.1 -12.4 -5.4 13.3 13.5
Quarterly Percent Change 0.8 -7.3 2.6 5.0 -22.0
Single-Family Building Permitsc 29,466 30,261 26,320 26,821 28,214 24,065 26,824 27,695 28,217
Year-over-Year Percent Change 12.1 17.8 -11.5 -7.7 -4.2 13.4 11.5 3.2 1.9
Quarterly Percent Change 1.4 2.7 -13.0 1.9 5.2
Multifamily-Building Permitsc 7,335 14,110 14,692 13,084 8,349 2,919 2,050 7,401 12,305
Year-over-Year Percent Change -17.2 183.9 130.0 39.4 13.8 38.7 73.0 46.6 66.3
Quarterly Percent Change -21.3 92.4 4.1 -10.9 -36.2
Personal Incomed 112.9 114.9 117.0 118.4 -- 96.7 103.4 110.6 115.8
Year-over-Year Percent Change 4.0 4.7 5.2 4.8 -- 5.6 7.0 6.9 4.7
Quarterly Percent Change 0.0 1.8 1.8 1.2 --
Memphis
Total Payroll Employmenta 542.5 543.1 542.2 548.9 551.7 491.8 512.6 534.7 544.2
Year-over-Year Percent Change 2.4 2.4 0.8 1.6 1.7 1.9 4.2 4.3 1.8
Quarterly Percent Change 0.4 0.1 -0.2 1.2 0.5
Civilian Unemployment Rate 4.6 4.1 3.9 4.1 4.3 5.6 4.8 4.9 4.2
Nashville
Total Payroll Employmenta 604.8 605.2 607.5 611.2 614.8 541.8 570.8 595.4 607.2
Year-over-Year Percent Change 2.5 2.3 1.9 1.3 1.7 5.3 5.4 4.3 2.0
Quarterly Percent Change 0.2 0.1 0.4 0.6 0.6
Civilian Unemployment Rate 3.4 2.9 3.0 3.3 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; 1996 data listed in the January-March 1997 issue were miscalculated.
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 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.