EconSouth (Fourth Quarter 2008)

EconSouth logo image
Volume 10, Number 4
Fourth Quarter 2008

Southeastern Economic Indicators

Alabama Florida Georgia Louisiana Mississippi Tennessee 6th
District
U.S.
Total payroll employment (thousands)a 2008Q3 2,013.1 7,916.2 4,116.8 1,948.1 1,148.8 2,785.3 19,928.3 137,370.7
Percent change from 2008Q2 0.1 –0.6 –1.0 0.2 –0.7 0.0 –0.5 –0.2
Percent change from 2007Q3 0.3 –1.3 –0.8 1.0 –0.3 –0.7 –0.7 –0.3
Manufacturing payroll employment (thousands)b 2008Q3 288.2 362.4 409.5 156.6 162.7 369.2 1,748.6 13,495.0
Percent change from 2008Q2 –0.9 –1.8 –2.0 –0.6 –1.4 –0.7 –1.3 –0.6
Percent change from 2007Q3 –2.9 –5.8 –4.8 –1.5 –3.6 –2.5 –3.8 –3.0
Civilian unemployment ratea 2008Q3 5.1 6.5 6.2 4.6 7.8 6.9 6.3 6.0
Rate as of 2008Q2 4.5 5.4 5.5 4.0 6.6 6.1 5.4 5.3
Rate as of 2007Q3 3.6 4.2 4.4 3.8 6.3 4.7 4.3 4.7
Existing single-family home sales (thousands of units)c 2008Q3 84.4 259.6 172.8 56.8 48.8 114.4 736.8 5,037.0
Percent change from 2008Q2 –6.2 –4.3 –1.4 –12.3 –8.3 –9.8 –5.7 2.6
Percent change from 2007Q3 –28.5 –0.8 –15.8 –25.3 –19.2 –24.3 –15.5 –7.7
Single-family building permits YTD (units)b 2008Q3 9,503 33,346 21,127 9,478 5,931 13,424 92,809 480,760
Percent change from 2007Q3 –37.2 –45.2 –53.0 –26.5 –33.7 –43.0 –44.2 –40.4
Personal income
($ billions)c
2008Q2 158.1 724.2 334.2 160.5 87.9 215.6 1,680.5 12,146.9
Percent change from 2008Q1 2.7 1.8 2.4 2.4 3.5 2.0 2.2 1.8
Percent change from 2007Q2 6.1 4.3 5.3 3.8 5.4 5.6 4.8 5.2

Atlanta Birmingham Jacksonville Miami Nashville New
Orleans
Orlando Tampa
Total payroll employment (thousands)b 2008Q3 2,441.5 532.0 623.4 2,380.6 766.9 526.8 1,093.0 1,270.7
Percent change from 2007Q3 –0.8 0.1 –0.9 –1.0 0.1 2.3 0.0 –1.5
Civilian unemployment rateb 2008Q3 6.3 4.8 6.5 6.2 5.9 4.7 6.3 6.9
Rate as of 2007Q3 4.5 3.4 4.2 4.2 3.9 3.6 4.1 4.5
Office vacancy rateb 2008Q3 19.3 17.6 9.9 12.6 12.0 15.8
Rate as of 2007Q3 17.9 13.7 7.7 9.7 9.1 12.9
Median existing home sale price (thousands of $U.S.)b 2008Q3 151.3 156.1 175.6 287.8 166.8 213.4 173.4
Median price
as of
2007Q3 175.3 165.9 189.2 346.3 160.2 266.8 218.3

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/2008/q4/dist_data.cfm.

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