EconSouth (First Quarter 2008)

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Volume 10, Number 1
First Quarter 2008

Southeastern Economic Indicators

Alabama Florida Georgia Louisiana Mississippi Tennessee 6th
District
U.S.
Total payroll employment (thousands)a 2007Q4 2,019.2 8,149.1 4,170.8 1,927.3 1,164.8 2,814.4 20,249.2 138,044.3
Percent change from 2007Q3 0.1 0.1 0.2 0.1 0.3 0.2 0.1 0.2
Percent change from 2006Q4 1.3 1.2 1.8 2.3 1.4 0.8 1.4 0.9
Manufacturing payroll employment (thousands)b 2007Q4 298.0 392.5 432.3 154.6 171.4 386.6 1,835.5 13,803.0
Percent change from 2007Q3 –0.5 –0.8 –1.0 0.0 –0.3 –0.5 –0.6 –0.8
Percent change from 2006Q4 –0.5 –1.5 –2.7 –0.8 –1.9 –2.1 –1.8 –1.9
Civilian unemployment ratea 2007Q4 3.5 4.4 4.6 3.7 6.4 4.9 4.5 4.8
Rate as of 2007Q3 3.7 4.0 4.5 4.0 6.3 4.3 4.3 4.7
Rate as of 2006Q4 3.6 3.3 4.6 4.3 6.9 5.0 4.1 4.4
Existing single-family home sales (thousands of units)c 2007Q4 102.0 239.6 185.6 65.6 58.0 137.2 788.0 4,957.0
Percent change from 2007Q3 –13.0 –5.2 –9.0 –14.1 –1.4 –10.7 –8.7 –8.5
Percent change from 2006Q4 –14.4 –29.0 –23.8 –23.0 –8.2 –14.5 –21.9 –20.9
Single-family building permits YTD (units)b 2007Q4 18,434 71,964 52,832 16,282 10,658 28,366 198,536 973,262
Percent change from 2006Q4 –23.0 –51.8 –35.2 –26.9 –21.8 –25.5 –39.6 –29.5
Personal income
($ billions)c
2007Q3 151.4 706.4 320.1 144.0 83.7 206.4 1,611.9 11,727.1
Percent change from 2007Q2 1.4 1.5 1.3 1.8 1.8 1.3 1.5 1.4
Percent change from 2006Q3 5.9 5.5 6.3 6.4 6.5 5.6 5.9 6.5

Atlanta Birmingham Jacksonville Miami Nashville New
Orleans
Orlando Tampa
Total payroll employment (thousands)b 2007Q4 2,481.5 539.2 644.1 2,475.6 766.7 510.7 1,121.6 1,335.4
Percent change from 2006Q4 2.2 1.0 1.5 1.2 0.6 3.2 2.2 1.1
Civilian unemployment rateb 2007Q4 4.3 3.0 4.1 4.1 4.0 3.4 4.1 4.5
Rate as of 2006Q4 4.3 3.0 3.1 3.3 3.8 4.1 2.9 3.1
Office vacancy rateb 2007Q4 19.1 13.7 7.7 10.9 8.8 13.3
Rate as of 2006Q4 19.0 13.3 7.7 10.6 7.0 10.1
Median existing home sale price (thousands of $U.S.)b 2007Q4 164.3 156.1 177.6 345.9 158.2 240.4 201.6
Median price
as of
2006Q4 166.8 161.7 180.4 366.8 162.1 272.1 229.7

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 historical data.

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