EconSouth (Second Quarter 2008)

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Volume 10, Number 2
Second Quarter 2008

Southeastern Economic Indicators

Alabama Florida Georgia Louisiana Mississippi Tennessee 6th
District
U.S.
Total payroll employment (thousands)a 2008Q1 2,015.2 8,030.7 4,179.3 1,939.7 1,155.7 2,796.9 20,117.5 137,917.3
Percent change from 2007Q4 0.0 0.0 0.6 0.0 0.1 –0.2 0.1 –0.1
Percent change from 2007Q1 0.7 –0.4 1.0 1.9 0.6 0.2 0.4 0.5
Manufacturing payroll employment (thousands)b 2008Q1 292.4 374.8 423.2 157.8 166.4 372.8 1,787.3 13,600.3
Percent change from 2007Q4 –0.9 –1.7 –0.4 –1.4 –1.1 –1.0 –1.0 –1.5
Percent change from 2007Q1 –1.8 –5.3 –2.9 1.9 –2.6 –3.8 –3.0 –2.1
Civilian unemployment ratea 2008Q1 3.9 4.7 5.1 4.1 6.0 5.2 4.8 4.9
Rate as of 2007Q4 3.6 4.4 4.5 3.8 6.3 5.0 4.5 4.8
Rate as of 2007Q1 3.4 3.7 4.2 3.8 6.4 4.5 4.1 4.5
Existing single-family home sales (thousands of units)c 2008Q1 98.4 246.0 188.4 66.4 55.2 134.0 788.4 4,950.0
Percent change from 2007Q4 –7.2 1.3 0.9 0.6 –4.2 –3.7 –1.3 –0.9
Percent change from 2007Q1 –20.9 –27.0 –19.8 –19.0 –8.6 –13.0 –20.6 –22.2
Single-family building permits YTD (units)b 2008Q1 3,465 11,722 7,927 3,304 2,188 4,455 33,061 149,251
Percent change from 2007Q1 –35.9 –46.8 –52.4 –18.6 –33.1 –46.2 –44.6 –43.1
Personal income
($ billions)c
2007Q4 152.6 714.7 323.9 152.9 86.1 207.6 1,637.8 11,839.9
Percent change from 2007Q3 1.0 1.1 1.1 0.9 0.7 0.6 1.0 1.0
Percent change from 2006Q4 5.7 5.6 6.0 10.7 8.1 3.9 6.1 5.9
                   

Atlanta Birmingham Jacksonville Miami Nashville New
Orleans
Orlando Tampa
Total payroll employment (thousands)b 2008Q1 2,462.8 529.8 630.7 2,436.9 760.8 521.7 1,102.8 1,295.4
Percent change from 2007Q1 1.2 0.0 0.1 –0.4 1.5 2.5 0.5 –0.9
Civilian unemployment rateb 2008Q1 5.1 3.7 4.5 4.2 4.6 3.7 4.4 5.0
Rate as of 2007Q1 4.2 3.2 3.6 3.4 4.0 3.5 3.4 3.7
Office vacancy rateb 2008Q1 19.3 14.0 8.6 10.5 11.3 14.7
Rate as of 2007Q1 19.0 14.5 7.4 10.6 7.9 11.3
Median existing home sale price (thousands of $U.S.)b 2008Q1 154.0 153.2 185.7 318.9 157.1 232.0 184.7
Median price
as of
2007Q1 170.4 157.5 197.6 385.3 155.9 267.0 203.2

aSeasonally adjusted data. Data updated June 17.
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/2008/q2/dist_data.cfm.

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