EconSouth - Third Quarter 2007

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Volume 9, Number 3
Third Quarter 2007

Southeastern Economic Indicators

Alabama Florida Georgia Louisiana Mississippi Tennessee 6th
District
U.S.
Total payroll employment (thousands)a 2007Q2 2,008.2 8,127.8 4,150.5 1,908.2 1,159.3 2,800.7 20,154.3 137,883.3
Percent change from 2007Q1 0.4 0.5 0.6 0.5 0.3 0.0 0.4 0.3
Percent change from 2006Q2 1.4 1.7 1.6 3.3 1.8 0.7 1.7 1.4
Manufacturing payroll employment (thousands)b 2007Q2 300.7 397.6 442.7 154.4 173.2 392.8 1,861.4 14,078.0
Percent change from 2007Q1 0.1 –0.2 0.4 0.4 0.5 –0.1 0.1 0.5
Percent change from 2006Q2 –1.6 –2.0 –2.0 2.1 –1.9 –2.8 –1.8 –1.1
Civilian unemployment ratea 2007Q2 3.4 3.4 4.3 4.3 6.3 4.4 4.0 4.5
Rate as of 2007Q1 3.3 3.3 4.3 3.9 6.6 4.8 4.0 4.5
Rate as of 2006Q2 3.6 3.3 4.7 3.7 6.5 5.3 4.1 4.6
Existing single-family home sales (thousands of units)c 2007Q2 124.8 247.2 226.4 78.4 58.8 144.4 880.0 5,913.0
Percent change from 2007Q1 –2.5 –28.7 –3.7 –6.2 –2.6 –6.5 –12.7 –7.9
Percent change from 2006Q2 –3.1 –41.3 –13.1 –12.5 –7.5 –21.5 –23.3 –10.8
Single-family building permits YTD (units)b 2007Q2 10,759 43,880 32,576 8,742 6,447 16,701 119,105 562.962
Percent change from 2006Q2 –17.1 –53.5 –29.3 –19.8 –13.6 –18.5 –38.1 –28.6
Personal income
($ billions)c
2007Q1 149.8 673.7 310.6 138.5 79.7 202.9 1,555.2 11,315.5
Percent change from 2006Q4 2.1 2.0 2.1 1.6 1.6 1.5 1.9 2.2
Percent change from 2006Q1 6.3 6.1 5.3 6.1 4.4 6.0 5.8 5.8
                   

Atlanta Birmingham Jacksonville Miami Nashville New
Orleans
Orlando Tampa
Total payroll employment (thousands)b 2007Q2 2,438.9 534.5 636.5 2,451.3 760.5 503.0 1,100.5 1,324.1
Percent change from 2006Q2 1.7 1.1 2.3 1.5 1.4 5.0 2.4 1.0
Civilian unemployment rateb 2007Q2 4.2 2.9 3.3 3.3 3.6 4.6 3.2 3.5
Rate as of 2006Q2 4.6 3.2 3.3 3.4 4.4 4.8 3.1 3.3
Office vacancy rateb 2007Q2 19.7 14.3 7.2 10.8 8.6 12.3
Rate as of 2006Q2 19.5 13.5 8.7 10.2 9.3 11.3
Median existing home sale price (thousands of $U.S.)b 2007Q2 175.5 164.9 198.7 384.4 186.4 166.0 265.1 222.7
Median price
as of
2006Q2 173.9 169.7 198.0 376.9 177.9 178.0 271.7 231.6

a Seasonally adjusted
b Not seasonally adjusted
c Seasonally adjusted annual rate

Sources: Payroll employment and civilian unemployment rate: U.S. Department of Labor, Bureau of Labor Statistics. Existing home sales and median existing home sale price: National Association of Realtors. Single-family building permits: 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. Office vacancy rate: CB Richard Ellis. Most data were obtained from Economy.com.

For more extensive information on the data series shown here, see www.frbatlanta.org/publica/econ_south/2007/q3/dist_data.cfm.

Total Payroll Employment Manufacturing Payroll Employment
Civilian Unemployment Rate Single-Family Building Permits YTD
Existing Home Sales Personal Income