STATE OF THE LOCAL ECONOMY Tallahassee-Leon County and the Tallahassee Metropolitan Statistical Area (MSA) show consistent growth across several indicators since 2016. Interestingly, the growth of Employment by 4.4% since May 2016 has outpaced the 3.7% increase of the Labor Force during the same interval. The Unemployment Rate has stayed below 4% for two consecutive months – the first time since 2008. Average monthly initial Unemployment Claims from January – May 2017 are down nearly 10% less than average monthly initial claims for January – May 2016. Home prices continue to rise; for example, the Median Single-Family Home Sales Price has increased 8 of the past 12 months.
 
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INDICATOR MOST RECENT SINCE LAST PERIOD SINCE LAST YEAR
184,800
May 2017
-0.7%
Down 1,251 from April to May
+4.4%
Up 7,881 from May 2016
191,980
May 2017
-.07%
Down 1,308 from April to May
+3.7%
Up 6,941 from April 2016
Unemployment Rate 3.7%
May 2017
Same
Unchanged from April at 3.7%
-0.7 pts.
Down from 4.4% in May 2016
$835
4th Quarter 2016
+1.8%
$15 higher than in Q3 of 2016
-2.7%
$23 less than in Q4 2015
Unemployment Claims 534
May 2017
+23.5%
112 more than in April
-7.4%
41 fewer than in May 2016
$448.5M
March 2017
+16.5%
Up $68.2M from February to March
+8.7%
$37.3M more than in March 2016
60
May 2017
+14.3%
Up from 52 in April
+38.1%
19 more permits than in May 2016
43
May 2017
-24.6%
12 fewer than in April
-8.9%
4 fewer than in May 2016
$215,000
May 2017
+10.0%
Up $20,200 from April to May
+14.0%
Up $28,000 from May 2016
Tourism: Total Visitors 664,752
Q2 FY 2017
+20.6%
Up 123,700 from Q1 of FY 2017
-4.0%
Down 27,400 from Q2 of FY 2016
62,641
May 2017
+8.7%
5,228 more than in April 2017
+0.7%
420 more than in May 2016
4.6%
1st Quarter, 2017
-0.4 pts.
Down from 5.0% in Q4 of 2016
-2.8 pts.
Down from 7.8% in Q1 of 2016
Industrial Vacancy Rate 3.7%
1st Quarter, 2017
-1.0 pts.
Down from 4.7% in Q4 of 2016
-2.2 pts.
Down from 5.9% in Q1 of 2016