Regional Update (April-June 1996)

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

Cover Story - Florida and Georgia Find Jackpots With Lotteries

Base Closing Woes Don't Materialize

Southeastern Economic Indicators
Alabama
Quarterly Annual Averages
1995Q1 1995Q2 1995Q3 1995Q4 1996Q1 1992 1993 1994 1995
Total Payroll Employmenta 1,795.0 1,800.8 1,805.9 1,811.6 1,824.3 1,674.4 1,716.7 1,758.3 1,803.3
Year-over-Year Percent Change 3.3 2.9 2.3 1.7 1.6 2.0 2.5 2.4 2.6
Quarterly Percent Change 0.8 0.3 0.3 0.3 0.7
Manufacturing Payroll Employmenta 394.4 391.9 388.8 387.5 386.8 380.7 384.3 386.4 390.7
Year-over-Year Percent Change 3.1 2.0 0.3 -0.9 -1.9 0.3 0.9 0.6 1.1
Quarterly Percent Change 0.8 -0.6 -0.8 -0.3 -0.2
Civilian Unemployment Rate 5.9 6.3 6.5 6.4 4.9 7.3 7.5 6.0 6.3
Initial Unemployment Claimsb 294.6 311.5 385.2 447.4 -- 357.3 358.3 301.7 359.6
Year-over-Year Percent Change -12.0 6.7 23.2 67.3 -- -13.5 0.3 -15.8 19.2
Quarterly Percent Change 10.2 5.7 23.7 16.1 --
Single-Family Building Permitsc 12,227 12,132 13,384 14,313 15,207 11,546 12,815 14,443 13,014
Year-over-Year Percent Change -17.0 -23.2 -1.7 5.1 24.4 30.6 11.0 12.7 -9.9
Quarterly Percent Change -10.2 -0.8 10.3 6.9 6.2
Multifamily Building Permitsc 4,063 7,457 6,108 9,725 1,544 2,359 3,290 4,693 6,838
Year-over-Year Percent Change -31.4 140.8 29.7 92.7 -62.0 -3.2 39.5 42.6 45.7
Quarterly Percent Change -19.5 83.6 -18.1 59.2 -84.1
Personal Incomed 78.7 79.2 80.5 81.2 -- 68.3 71.5 75.6 79.9
Year-over-Year Percent Change 6.7 5.6 5.7 4.5 -- 7.0 4.8 5.8 5.6
Quarterly Percent Change 1.4 0.6 1.7 0.8 --
Birmingham
Total Payroll Employmenta 440.3 441.2 442.4 443.9 447.7 409.0 418.5 429.9 441.9
Year-over-Year Percent Change 3.6 3.2 2.4 2.0 1.7 1.6 2.3 2.7 2.8
Quarterly Percent Change 1.2 0.2 0.3 0.4 0.9
Civilian Unemployment Rate 4.1 4.2 4.2 3.8 3.2 5.8 5.7 4.3 4.1
Florida
Quarterly Annual Averages
1995Q1 1995Q2 1995Q3 1995Q4 1996Q1 1992 1993 1994 1995
Total Payroll Employmenta 5,936.3 5,963.8 6,029.6 6,072.2 6,119.4 5,358.6 5,571.5 5,799.4 6,000.5
Year-over-Year Percent Change 4.0 3.3 3.4 3.2 3.1 1.2 4.0 4.1 3.5
Quarterly Percent Change 0.9 0.5 1.1 0.7 0.8
Manufacturing Payroll Employmenta 483.4 482.9 481.4 481.9 482.7 482.9 485.2 484.0 482.4
Year-over-Year Percent Change -0.1 -0.1 -0.6 -0.4 -0.2 -2.0 0.5 -0.2 -0.3
Quarterly Percent Change -0.1 -0.1 -0.3 0.1 0.2
Civilian Unemployment Rate 5.6 5.5 5.4 5.5 5.5 8.2 7.0 6.6 5.5
Initial Unemployment Claimsb 482.5 498.1 480.8 468.5 -- 625.6 515.4 511.5 482.5
Year-over-Year Percent Change -9.0 -7.4 -5.6 0.0 -- -6.1 -17.6 -0.8 -5.7
Quarterly Percent Change 3.0 3.2 -3.5 -2.6 --
Single-Family Building Permitsc 84,744 80,776 94,180 80,022 93,303 83,710 91,261 96,276 84,930
Year-over-Year Percent Change -17.1 -15.4 -4.0 -10.3 10.1 17.9 9.0 5.5 -11.8
Quarterly Percent Change -5.0 -4.7 16.6 -15.0 16.6
Multifamily Building Permitsc 36,132 32,420 41,014 41,946 32,756 18,312 23,842 32,326 37,878
Year-over-Year Percent Change 29.9 26.7 5.3 13.5 -9.3 -24.7 30.2 35.6 17.2
Quarterly Percent Change -2.2 -10.3 26.5 2.3 -21.9
Personal Incomed 318.3 322.1 326.9 331.0 -- 265.6 285.4 302.1 324.6
Year-over-Year Percent Change 8.5 7.4 7.4 6.6 -- 4.1 7.5 5.9 7.5
Quarterly Percent Change 2.5 1.2 1.5 1.3 --
Fort Lauderdale
Total Payroll Employmenta 577.7 579.2 589.2 591.4 599.3 513.3 540.1 564.8 584.4
Year-over-Year Percent Change 4.3 2.8 3.4 3.4 3.7 1.8 5.2 4.6 3.5
Quarterly Percent Change 1.0 0.3 1.7 0.4 1.3
Civilian Unemployment Rate 5.1 5.5 5.4 6.1 5.4 8.2 6.8 6.5 5.5
Jacksonville
Total Payroll Employmenta 474.0 479.6 483.3 486.2 491.7 423.4 438.6 459.4 480.8
Year-over-Year Percent Change 5.1 5.4 4.4 3.8 3.7 0.9 3.6 4.7 4.7
Quarterly Percent Change 1.2 1.2 0.8 0.6 1.1
Civilian Unemployment Rate 3.9 4.1 4.1 5.0 3.6 6.7 5.6 5.2 4.3
Miami
Total Payroll Employmenta 925.0 925.3 936.4 940.0 949.0 857.4 890.8 909.9 931.7
Year-over-Year Percent Change 2.3 2.0 2.7 2.6 2.6 0.2 3.9 2.1 2.4
Quarterly Percent Change 0.9 0.0 1.2 0.4 1.0
Civilian Unemployment Rate 6.3 6.7 6.6 7.6 7.4 10.0 7.7 8.0 6.8
Orlando
Total Payroll Employmenta 703.5 706.7 713.2 719.3 723.5 618.9 650.4 683.2 710.7
Year-over-Year Percent Change 5.0 3.9 3.8 3.5 2.8 3.1 5.1 5.0 4.0
Quarterly Percent Change 1.2 0.4 0.9 0.9 0.6
Civilian Unemployment Rate 4.3 4.6 4.5 5.2 4.3 7.4 6.2 5.8 4.7
Tampa
Total Payroll Employmenta 983.5 991.3 1,000.0 1,007.2 1,015.0 867.1 903.7 957.3 995.5
Year-over-Year Percent Change 4.7 3.9 3.8 3.6 3.2 1.1 4.2 5.9 4.0
Quarterly Percent Change 1.1 0.8 0.9 0.7 0.8
Civilian Unemployment Rate 4.2 4.4 4.4 5.2 4.3 7.2 6.5 5.5 4.6
West Palm Beach
Total Payroll Employmenta 392.2 394.5 399.8 400.1 400.6 355.0 369.5 386.1 396.6
Year-over-Year Percent Change 3.1 2.2 3.0 2.5 2.1 0.3 4.1 4.5 2.7
Quarterly Percent Change 0.5 0.6 1.3 0.1 0.1
Civilian Unemployment Rate 6.3 6.6 6.5 7.4 7.1 9.9 8.6 8.3 6.7
Georgia
Quarterly Annual Averages
1995Q1 1995Q2 1995Q3 1995Q4 1996Q1 1992 1993 1994 1995
Total Payroll Employmenta 3,367.1 3,393.7 3,436.9 3,466.6 3,508.3 2,986.9 3,108.7 3,265.5 3,416.1
Year-over-Year Percent Change 4.9 4.6 4.7 4.3 4.2 1.7 4.1 5.0 4.6
Quarterly Percent Change 1.3 0.8 1.3 0.9 1.2
Manufacturing Payroll Employmenta 591.9 589.3 587.0 585.4 590.0 545.2 558.3 577.3 588.4
Year-over-Year Percent Change 3.9 2.7 1.3 -0.1 -0.3 0.8 2.4 3.4 1.9
Quarterly Percent Change 1.0 -0.4 -0.4 -0.3 0.8
Civilian Unemployment Rate 4.7 4.9 5.0 4.9 4.6 6.9 5.8 5.2 4.9
Initial Unemployment Claimsb 365.0 432.2 421.5 401.1 -- 452.3 402.9 391.7 404.9
Year-over-Year Percent Change -5.9 15.0 -5.4 12.2 -- -13.8 -10.9 -2.8 3.4
Quarterly Percent Change 2.1 18.4 -2.5 -4.8 --
Single-Family Building Permitsc 52,534 57,789 63,619 62,437 65,730 42,087 47,599 52,530 59,095
Year-over-Year Percent Change -0.8 7.0 26.1 18.5 25.1 25.3 13.1 10.4 12.5
Quarterly Percent Change -0.3 10.0 10.1 -1.9 5.3
Multifamily Building Permitsc 20,510 22,447 17,608 13,429 23,590 2,479 6,275 12,330 18,498
Year-over-Year Percent Change 219.7 56.5 37.7 -14.9 15.0 -37.8 153.1 96.5 50.0
Quarterly Percent Change 30.0 9.4 -21.6 -23.7 75.7
Personal Incomed 149.6 151.7 154.5 157.1 -- 125.1 132.8 142.5 153.2
Year-over-Year Percent Change 7.7 7.4 8.0 6.9 -- 7.0 6.2 7.3 7.5
Quarterly Percent Change 1.9 1.4 1.8 1.7 --
Atlanta
Total Payroll Employmenta 1,788.8 1,807.1 1,832.9 1,854.1 1,875.6 1,549.7 1,635.3 1,732.9 1,820.7
Year-over-Year Percent Change 5.3 5.1 5.1 4.8 4.9 2.9 5.5 6.0 5.1
Quarterly Percent Change 1.1 1.0 1.4 1.2 1.2
Civilian Unemployment Rate 4.1 4.3 4.4 4.0 3.8 6.3 5.2 4.7 4.2
Lousiana
Quarterly Annual Averages
1995Q1 1995Q2 1995Q3 1995Q4 1996Q1 1992 1993 1994 1995
Total Payroll Employmenta 1,758.0 1,766.6 1,781.1 1,792.1 1,812.3 1,626.9 1,658.5 1,722.1 1,774.4
Year-over-Year Percent Change 3.3 3.3 2.8 2.7 3.1 0.9 1.9 3.8 3.0
Quarterly Percent Change 0.8 0.5 0.8 0.6 1.1
Manufacturing Payroll Employmenta 187.6 188.4 188.8 188.9 190.9 185.0 185.4 186.4 188.4
Year-over-Year Percent Change 1.3 1.2 1.0 0.8 1.7 -0.7 0.2 0.6 1.1
Quarterly Percent Change 0.1 0.4 0.2 0.0 1.1
Civilian Unemployment Rate 7.3 7.1 6.7 6.5 6.5 8.1 7.4 8.1 6.9
Initial Unemployment Claimsb 189.1 198.8 195.2 214.2 -- 252.4 208.2 188.3 199.3
Year-over-Year Percent Change 2.9 -2.0 1.8 22.4 -- 3.4 -17.5 -9.5 5.8
Quarterly Percent Change 8.1 5.1 -1.8 9.7 --
Single-Family Building Permitsc 10,854 10,968 11,747 11,745 14,286 8,859 10,363 12,758 11,329
Year-over-Year Percent Change -24.8 -15.0 -1.6 -0.2 31.6 32.8 17.0 23.1 -11.2
Quarterly Percent Change -7.7 1.0 7.1 0.0 21.6
Multifamily Building Permitsc 3,621 2,373 1,920 3,639 3,663 891 863 2,024 2,888
Year-over-Year Percent Change 545.8 171.0 -58.4 78.2 1.2 74.0 -3.1 134.5 42.7
Quarterly Percent Change 77.3 -34.5 -19.1 89.5 0.7
Personal Incomed 79.9 80.8 82.6 83.7 -- 67.6 71.0 76.0 81.8
Year-over-Year Percent Change 6.9 7.8 7.9 7.6 -- 5.7 5.1 7.0 7.6
Quarterly Percent Change 2.6 1.2 2.3 1.3 --
New Orleans
Total Payroll Employmenta 595.3 599.8 600.6 600.4 601.3 561.1 569.7 584.9 599.0
Year-over-Year Percent Change 2.5 3.4 2.4 1.3 1.0 0.1 1.5 2.7 2.4
Quarterly Percent Change 0.5 0.8 0.1 0.0 0.1
Civilian Unemployment Rate 6.5 6.9 6.3 6.2 6.4 6.9 6.8 7.4 6.5
Mississippi
Quarterly Annual Averages
1995Q1 1995Q2 1995Q3 1995Q4 1996Q1 1992 1993 1994 1995
Total Payroll Employmenta 1,073.6 1,073.0 1,077.0 1,077.1 1,084.3 960.3 1,002.2 1,055.5 1,075.2
Year-over-Year Percent Change 3.3 2.0 0.9 1.2 1.0 2.4 4.4 5.3 1.9
Quarterly Percent Change 0.9 -0.1 0.4 0.0 0.7
Manufacturing Payroll Employmenta 263.8 260.1 256.0 252.1 249.3 252.0 255.7 261.0 258.0
Year-over-Year Percent Change 1.8 -0.1 -2.4 -3.9 -5.5 2.1 1.5 2.1 -1.2
Quarterly Percent Change 0.5 -1.4 -1.6 -1.6 -1.1
Civilian Unemployment Rate 5.9 6.1 6.4 6.1 6.2 8.2 6.3 6.6 6.1
Initial Unemployment Claimsb 158.8 198.4 221.8 224.0 -- 208.1 168.6 161.6 200.7
Year-over-Year Percent Change -2.5 20.0 35.2 45.4 -- -13.6 -19.0 -4.1 24.2
Quarterly Percent Change 3.0 25.0 11.8 1.0 --
Single-Family Building Permitsc 6,525 7,104 7,969 7,758 9,109 5,487 6,870 7,976 7,339
Year-over-Year Percent Change -24.4 -12.0 1.0 6.1 39.6 24.2 25.2 16.1 -8.0
Quarterly Percent Change -10.8 8.9 12.2 -2.7 17.4
Multifamily Building Permitsc 8,161 2,195 1,513 5,179 6,265 834 1,246 2,957 4,262
Year-over-Year Percent Change 86.7 -6.0 -29.3 73.5 -23.2 12.4 49.4 137.3 44.1
Quarterly Percent Change 173.5 -73.1 -31.1 242.4 21.0
Personal Incomed 43.8 44.3 45.0 45.3 -- 36.8 38.8 42.2 44.6
Year-over-Year Percent Change 6.1 6.0 6.3 4.7 -- 7.2 5.7 8.5 5.8
Quarterly Percent Change 1.4 0.9 1.6 0.7 --
Jackson
Total Payroll Employmenta 207.7 209.2 210.4 211.9 212.8 190.2 195.8 204.5 209.8
Year-over-Year Percent Change 2.8 2.5 2.3 2.8 2.5 2.0 2.9 4.4 2.6
Quarterly Percent Change 0.7 0.7 0.6 0.7 0.4
Civilian Unemployment Rate 3.6 3.9 4.0 3.8 3.7 5.6 4.7 4.6 3.8
Tennessee
Quarterly Annual Averages
1995Q1 1995Q2 1995Q3 1995Q4 1996Q1 1992 1993 1994 1995
Total Payroll Employmenta 2,481.7 2,488.9 2,508.1 2,530.5 2,555.7 2,244.8 2,328.3 2,422.7 2,502.3
Year-over-Year Percent Change 4.1 3.1 3.1 2.8 3.0 2.8 3.7 4.1 3.3
Quarterly Percent Change 0.9 0.3 0.8 0.9 1.0
Manufacturing Payroll Employmenta 547.5 543.1 539.2 538.8 538.6 514.5 528.5 538.9 542.1
Year-over-Year Percent Change 2.4 1.1 -0.3 -0.8 -1.6 2.3 2.7 2.0 0.6
Quarterly Percent Change 0.8 -0.8 -0.7 -0.1 0.0
Civilian Unemployment Rate 4.7 5.1 5.5 5.5 5.3 6.4 5.7 4.8 5.2
Initial Unemployment Claimsb 380.8 415.5 459.3 490.9 -- 474.0 408.8 394.4 436.6
Year-over-Year Percent Change -15.8 2.6 19.6 46.1 -- -11.7 -13.8 -3.5 10.7
Quarterly Percent Change 13.4 9.1 10.6 6.9 --
Single-Family Building Permitsc 27,085 26,867 31,498 30,432 32,115 21,214 24,065 26,824 28,971
Year-over-Year Percent Change 1.1 -3.8 16.8 18.9 18.6 25.4 13.4 11.5 8.0
Quarterly Percent Change 5.8 -0.8 17.2 -3.4 5.5
Multifamily Building Permitsc 10,510 5,036 6,873 10,226 14,560 2,105 2,919 5,050 8,161
Year-over-Year Percent Change 171.5 -8.4 12.2 117.4 38.5 -10.4 38.7 73.0 61.6
Quarterly Percent Change 123.5 -52.1 36.5 48.8 42.4
Personal Incomed 104.8 106.1 107.8 109.7 -- 88.8 94.0 100.6 107.1
Year-over-Year Percent Change 7.1 6.7 6.6 5.5 -- 8.7 5.9 7.0 6.4
Quarterly Percent Change 0.7 1.3 1.5 1.8 --
Memphis
Total Payroll Employmenta 528.1 530.3 533.5 534.5 539.3 482.8 491.8 519.5 531.6
Year-over-Year Percent Change 0.0 4.4 3.2 1.9 2.1 0.1 1.9 5.6 2.3
Quarterly Percent Change 0.7 0.4 0.6 0.2 0.9
Civilian Unemployment Rate 4.1 4.5 5.0 4.7 4.5 5.9 5.4 4.7 4.6
Nashville
Total Payroll Employmenta 591.2 594.9 598.7 602.7 611.5 514.4 541.7 570.7 596.9
Year-over-Year Percent Change 6.0 4.9 4.0 3.5 3.4 2.8 5.3 5.3 4.6
Quarterly Percent Change 1.5 0.6 0.6 0.7 1.5
Civilian Unemployment Rate 2.8 3.2 3.7 3.6 3.3 5.0 4.2 3.3 3.3

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 data compiled and seasonally adjusted by the Federal Reserve Bank of Atlanta using U.S. Bureau of the Census X-11 methodology. Small differences from previously published data reflect revisions of seasonal factors. The U.S. Department of Commerce has discontinued the series on nonresidential contracts.