EconSouth (First Quarter 2007)

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Volume 9, Number 1
First Quarter 2007

Southeastern Economic Indicators

Alabama Florida Georgia Louisiana Mississippi Tennessee 6th
District
U.S.
Total payroll employment (thousands)a 2006Q4 1,993.4 8,054.9 4,098.2 1,884.6 1,152.7 2,792.0 19,976.0 136,951.0
Percent change from 2006Q3 0.3 0.4 0.2 0.8 0.9 0.1 0.4 0.4
Percent change from 2005Q4 1.65 2.0 1.4 5.2 2.2 1.2 2.0 1.7
Manufacturing payroll employment (thousands)b 2006Q4 299.6 398.6 444.5 155.9 174.8 394.9 1,868.2 14,160.3
Percent change from 2006Q3 –1.1 –0.8 –0.7 1.6 –0.1 –0.9 –0.6 –0.8
Percent change from 2005Q4 –1.0 –1.3 –1.4 5.0 –1.0 –2.7 –1.1 –0.4
Civilian unemployment ratea 2006Q4 3.6 3.3 4.6 4.3 6.9 5.0 4.1 4.5
Rate as of 2006Q3 3.6 3.3 4.6 3.7 6.7 5.2 4.1 4.7
Rate as of 2005Q4 3.7 3.6 5.1 9.7 8.9 5.5 5.1 5.0
Existing single-family home sales (thousands of units)c, d 2006Q4 126.0 345.1 247.8 87.0 65.7 165.6 1,037.2 6,243.0
Percent change from 2006Q3 3.5 –6.9 –2.3 –4.1 15.3 –5.7 –3.0 –0.6
Percent change from 2005Q4 –7.4 –30.8 –0.7 –10.9 2.0 –6.3 –15.2 –10.1
Single-family building permits YTD (units)b 2006Q4 23,940 149,166 81,529 22,280 13,628 38,082 328,625 1,379,956
Percent change from 2005Q4 –0.5 –28.5 –9.7 12.6 19.8 –4.0 –16.5 –17.9
Personal income
($ billions)c
2006Q3 145.1 655.9 301.7 134.5 77.9 196.9 1,511.9 10,938.1
Percent change from 2005Q2 1.4 1.6 1.3 1.7 1.4 1.1 1.5 1.4
Percent change from 2005Q3 7.2 6.9 6.0 111.9 10.4 5.9 11.7 6.7

Atlanta Birmingham Jacksonville Miami Nashville New
Orleans
Orlando Tampa
Total payroll employment (thousands)b, e 2006Q4 2,428.2 533.7 634.9 2,446.7 762.2 495.0 1,097.2 1,320.9
Percent change from 2005Q4 1.9 1.9 3.1 1.7 1.6 12.9 3.8 2.1
Civilian unemployment rateb, e 2006Q4 4.3 2.9 3.2 3.3 3.6 4.7 2.9 3.1
Rate as of 2005Q4 5.1 3.2 3.3 3.6 4.2 14.3 3.0 3.2
Office vacancy rateb 2006Q4 19.0 13.3 7.7 10.6 7.0 10.5
Rate as of 2005Q4 20.1 15.0 11.2 9.1 10.3 11.9
Median existing home sale price (thousands of $U.S.)b 2006Q4 166.8 161.7 180.4 366.8 162.1 272.1 229.7
Median price
as of
2005Q4 170.2 160.8 182.2 391.2 178.7 261.8 223.0

a Seasonally adjusted
b Not seasonally adjusted
c Seasonally adjusted annual rate
d Data include recent rebenchmarking and other data revisions.
e The Bureau of Labor Statistics has redefined some MSAs, adding more counties. Payroll and household statistics for some areas may be larger than previously reported.

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/q1/dist_data.cfm.

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