EconSouth (Second Quarter 2007)

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Volume 9, Number 2
Second Quarter 2007

Southeastern Economic Indicators

Alabama Florida Georgia Louisiana Mississippi Tennessee 6th
District
U.S.
Total payroll employment (thousands)a 2007Q1 2,001.1 8,087.4 4,126.7 1,898.9 1,155.9 2,799.3 20,068.9 137,447.3
Percent change from 2006Q4 0.4 0.4 0.7 0.7 0.3 0.3 0.5 0.4
Percent change from 2006Q1 1.4 1.7 1.5 4.1 2.1 0.9 1.8 1.5
Manufacturing payroll employment (thousands)b 2007Q1 300.4 398.6 440.8 153.8 172.2 393.1 1,858.9 14,014.7
Percent change from 2006Q4 0.3 0.0 –0.8 –1.4 –1.4 –0.5 –0.5 –1.0
Percent change from 2006Q1 –1.3 –1.6 –2.3 3.3 –2.3 –2.5 –1.6 –0.7
Civilian unemployment ratea 2007Q1 3.3 3.3 4.3 3.9 6.6 4.8 4.0 4.5
Rate as of 2006Q4 3.6 3.3 4.6 4.3 6.9 5.0 4.1 4.5
Rate as of 2006Q1 3.5 3.4 4.7 4.3 7.1 5.2 4.2 4.7
Existing single-family home sales (thousands of units)c 2007Q1 127.8 346.8 235.6 83.7 60.5 154.2 1,008.6 6,413.0
Percent change from 2006Q4 7.2 2.7 –3.3 –1.8 –4.3 –3.9 –0.1 2.4
Percent change from 2006Q1 –4.1 –25.1 –7.4 –19.5 –11.0 –15.5 –16.3 –6.6
Single-family building permits YTD (units)b 2007Q1 5,409 22,039 16,639 4,057 3,269 8,278 59,691 262,392
Percent change from 2006Q1 –19.9 –57.0 –24.4 –25.0 1.6 –20.1 –39.7 –29.9
Personal income
($ billions)c
2006Q4 146.6 661.3 303.7 135.6 78.3 198.0 1,523.6 11,043.5
Percent change from 2006Q3 0.9 1.4 1.2 1.6 1.0 0.9 1.3 1.2
Percent change from 2005Q4 5.7 6.7 4.8 2.9 2.1 4.8 5.4 5.5

Atlanta Birmingham Jacksonville Miami Nashville New
Orleans
Orlando Tampa
Total payroll employment (thousands)b 2007Q1 2,407.4 529.0 633.2 2,446.1 752.3 497.7 1,095.8 1,319.1
Percent change from 2006Q1 1.7 1.6 2.5 1.4 1.5 8.9 3.0 1.7
Civilian unemployment rateb 2007Q1 4.2 3.2 3.3 3.2 4.2 4.1 3.2 3.4
Rate as of 2006Q1 4.7 3.6 3.2 3.4 4.4 6.0 3.2 3.3
Office vacancy rateb 2007Q1 19.0 14.5 7.4 10.6 7.9 11.7
Rate as of 2006Q1 19.2 13.5 10.5 10.3 9.3 12.6
Median existing home sale price (thousands of $U.S.)b 2007Q1 170.4 157.5 197.6 385.3 155.9 267.0 203.2
Median price
as of
2006Q1 168.4 163.4 195.6 377.7 175.0 260.5 207.3

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/q2/dist_data.cfm.

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