LOOKING FOR MORE DATA? The Office of Economic Vitality is the source for Tallahassee-Leon County economic information and data. We track 80 key economic indicators, construction and development trends—both commercial and residential—as well as maintain a statistical digest, some of which are featured below. Whether your business needs assistance, you are looking to the perfect site for your business or need help from our expert analysts, we are here to help. Please visit any of the following categories to quickly access the information you need:
Workforce & Income, Residential & Commercial Development, Economic Factors, Community & Environment, Demographics, Education, and Innovation.

SIGN UP to receive the Quarterly Economic Update directly to your inbox.

INDICATOR* MOST RECENT SINCE LAST YEAR WHAT DOES THIS MEAN?

191,489

3rd Quarter 2019

+2.8%

Up 5,262 from Q3 2018

Employment was up 1.4% from Q2 2019 while year-over-year employment levels have increased 14 quarters in a row. MSA monthly average of 189,768 in the first 9 months of 2019 was 2.1% higher than the January-September 2018 monthly average.
Unemployment Claims

1,216

3rd Quarter 2019

-6.7%

88 fewer than in Q3 2018

Initial Claims for Unemployment Compensation in Q3 2019 were the fewest for any Q3 since before 2010.

151

3rd Quarter 2018

+14.4%

19 more than in Q3 2018

New Single-Family Construction Permits in Leon County decreased 25% from Q2 2019, but were 28% higher than the Q3 average of 118 during 2010 to 2018.

$229,950

2nd Quarter 2019

+5.5%

Up $11,950 from Q2 2018

Median Sales Price was up 7% from Q1 2019, has risen in 11 of the past 20 quarters in the MSA, and has been lower than the statewide median sales price since Q4 2013.
Tourism: Total Visitors

629,614

Q3 FY 2019

+2.7%

Up 16,302 from Q3 of FY 2018

Total Visitors in Leon County typically decrease on average about 10% from Q2 to Q3. Q3 2019 was down 0.6% from Q3 2017 and 4.8% higher than Q3 2016.

212,788

3rd Quarter 2019

+8.5%

16,302 more than in Q3 2018

TLH Passengers in Q3 2019 were the most for any Q3 since 2008. During 2015-2019, passengers in Q3 averaged 186,363.
Unemployment Rate

3.3%

3rd Quarter 2019

-0.2 pts.

Down from 3.5% in Q3  2018

MSA 3-month average Unemployment Rate has decreased for 32 consecutive quarters, comparing same month of the prior year.

$854

1st Quarter 2019

+1.4%

$12 more than in Q1 2018

Average Weekly Wage 4-quarter moving average has increased in all but one of the past 20 quarters.

108

3rd Quarter 2019

+25.6%

22 more than in Q3 2018

Mortgage Foreclosures in Leon County decreased 12.9% from Q2 2019, and were 27% below the Q3 average of 147 during 2014-2018.

4.1%

2nd Quarter 2019

-0.5 pts.

Down from 4.6% in Q2 of 2018

Office Vacancy from Q1 2018 to Q2 2019 averaged 4.3%, a drop of 1.8 points from the annual average vacancy of 6.1% during 2013-2017.
Industrial Vacancy Rate

2.1%

2nd Quarter 2019

-0.4 pts.

Down from 2.5% in Q2 of 2018

Industrial Vacancy from Q1 2018 to Q2 2019 averaged 2.5%, a drop of 4.7 points from the annual average vacancy of 7.2% during 2013-2017.

198,088

3rd Quarter 2019

+2.7%

Up 3,207 from Q3 2018

MSA average monthly Labor Force was up 1.6% from Q1 2019, while 2.7% higher than Q3 2018. Labor Force has grown 15 of the past 20 consecutive quarters, comparing same month of the prior year.

$1.34 B

2nd Quarter 2019

+8.1%

$100.5 M more than in Q2 2018

MSA Taxable Sales were up 1.6% from Q1 2019 and 8.1% higher than in Q2 2018, and have gone up in 68 of the past 72 months, comparing sales to the same month of the previous year.

* LEADING INDICATOR: may signal future changes; LAGGING INDICATOR: may confirm pattern already in progress; COINCIDENT INDICATOR: occurs in real time and clarifies condition of economy.

The terms leading, lagging, and coincident deal with the time horizon and not whether the economy is doing “better or worse” relative to somewhere else. Leading indicators are considered to point toward future events, are upstream in the process, and can give a heads-up for anticipated trends. Lagging indicators are seen as confirming a pattern in progress, and can only be known after the event because they are the outcomes of the leading factors that occur upstream. Coincident indicators occur in real-time and clarify the state of the economy. They tend to move in step with general economic trends and give a snapshot context of what is happening and how markets and economies are responding to the factors that affect their direction.