Employment was up 3,301 from Q3 2022, an increase of 1.7%. Ten consecutive quarters of employment gains since Q3 2020 have surpassed employment losses occurring in Q1 and Q2 2020 by over 11,000.
Employment
4th quarter 2022
200,170
Up 8,703 from Q4 2021
+4.5%
MSA Initial Claims for Unemployment Compensation in Q4 2022 were up by 9.5% from Q3 2022, but 72% less than the 10-year Q4 average of 2,025 during 2012-2021.
Unemployment Compensation Claims
4th Quarter 2022
575
94 more than in Q4 2021
+19.5%
Single-Family Construction Permits in Leon Co. were 27% lower than the 10-year Q4 average of 121 during 2012-2021.
New Single-Family Construction Permits
4th Quarter 2022
88
63 fewer than in Q4 2021
-41.7%
Median Sales Price was up 2.9% from Q2 2022, has risen in 15 of the past 20 quarters in the MSA, and has been lower than the statewide median sales price since Q4 2013.
Median Single-Family Home Sales Price
3rd Quarter 2022
$319,000
Up $40,125 from Q3 2021
+12.8%
MSA Tourist Development Tax Receipts decreased 6.5% from Q2 2022 (receipts for Q3 were less than Q2 in 17 of the past 19 years). Receipts were 53% higher than the 10-year Q3 average of $1.37M during 2012-2021.
Tourist Tax Receipts
3rd Quarter 2022
$2.10 M
Up $120K from Q3 2021
+6.1%
TLH Passengers in Q4 2022 were up 3.3% from Q3 2022, and 12% higher than the 10-year Q4 average of 188,125 during 2012-2021.
Tallahassee Passengers
4th Quarter 2022
211,364
3,700 fewer than in Q4 2021
-1.7%
The MSA 3-month average Unemployment Rate was down 0.3 points from 2.8% in Q3 2022.
Unemployment Rate
4th Quarter 2022
2.5%
Down from 3.1% in Q4 2021
-0.6 pts.
MSA Average Weekly Wage 4-quarter moving average has increased in all but 1 quarter since 2014, comparing same quarter of the prior year.
Average Weekly Wage
2nd Quarter 2022
$999
$50 more than in Q2 2021
+5.3%
Mortgage Foreclosures in Leon Co. were down 41% from the 73 in Q3 2022. Foreclosures in Q4 2022 were 70% lower than the 10-year Q4 average of 142 during 2012-2021.
Mortgage Foreclosures
4th Quarter 2022
43
3 fewer than in Q4 2021
-6.5%
Office Vacancy was unchanged from 6.0% in Q2 and Q3 2022, and has only decreased in three of the 11 quarters since Q1 2020 when the vacancy rate was 5.6%.
Office Vacancy Rate
4th Quarter 2022
6.0%
Down from 6.4% in Q4 of 2021
-0.4 pts.
Industrial Vacancy was down from 1.8% in Q3 2022, has been under 2% every quarter since Q4 2020, and under 3% every quarter since Q2 2018.
Industrial Vacancy Rate
4th Quarter 2022
1.6%
Up from 1.2% in Q4 of 2021
+0.4 pts.
MSA average monthly Labor Force was up 1.4% from Q3 2022. Labor force has grown 6.4% since Q1 2020 and has increased in 36 of the past 60 months.
Labor Force
4th Quarter 2022
205,432
Up 7,786 from Q4 2021
+3.9%
MSA Taxable Sales were down 2.7% from Q2 2022, were 22% higher than the Q3 average of $1.30 B during 2017-2021, and have gone up in 34 of the past 40 quarters, comparing sales to the same quarter of the previous year.
Taxable Sales
3rd Quarter 2022
$1.58 B
Up $77M from Q3 2021
+5.1%
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