Quarterly Economic Dashboard

Email
Employment was up 2,312 from Q1 2021, an increase of 1.2%. Four consecutive quarters of employment gains since Q3 2020 have offset 85% of employment losses occurring in Q1 and Q2 2020.
Employment
2nd Quarter 2021
187,802
Up 22,094 from Q2 2020
+13.3%
MSA Initial Claims for Unemployment Compensation in Q2 2021 were down 73% from Q1 2021 and down 9% from the 10-year Q2 average of 2,498 during 2010-2019.
Unemployment Compensation Claims
2nd Quarter 2021
2,263
18,107 fewer than in Q2 2020
-88.9%
Single-Family Construction Permits in Leon Co. were the most for any Q2 since Q2 2007, and were 68% higher than the 10-year Q2 average of 133 during 2010-2019.
New Single-Family Construction Permits
2nd Quarter 2021
223
51 more than in Q2 2020
+29.7%
Median Sales Price was down 0.2% from Q4 2020, has risen in 13 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
1st Quarter 2021
$256,500
Up $24,950 from Q4 2019
+7.5%
MSA Tourist Development Tax Receipts increased 4.3% from Q4 2020 and were 9% lower than the 10-year Q1 average of $1.17M during 2010-2019.
Tourist Tax Receipts
1st Quarter 2021
$1.06 M
Down $558K from Q1 2020
-34.4%
TLH Passengers in Q2 2021 were up 71% from Q1 2021, and down 12% from the 10-year Q2 average of 185,040 during 2010-2019.
Tallahassee Passengers
2nd Quarter 2021
162,671
133,555 more than in Q2 2020
+459%
The MSA 3-month average Unemployment Rate increased 0.4 points from 4.5% in Q1 2021.
Unemployment Rate
2nd Quarter 2021
4.9%
Down from 8.8% in Q2 2020
-3.9 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
4th Quarter 2020
$1,024
$122 more than in Q4 2019
+13.0%
Mortgage Foreclosures in Leon Co. increased by 2 from the 27 of Q1 2021. Foreclosures in Q2 2021 were 87% lower than the 10-year Q2 average of 231 during 2010-2019.
Mortgage Foreclosures
2nd Quarter 2021
29
22 more than in Q2 2020
+314%
Office Vacancy increased 0.2 points from 6.2% in Q1 2021, and was 0.3 points higher than the 10-year Q2 average of 6.1% during 2010-2019.
Office Vacancy Rate
2nd Quarter 2021
6.4%
Up from 5.9% in Q2 of 2020
+0.5 pts.
Industrial Vacancy fell 0.5 points from 2.0% in Q1 2021, and was 5.4 points lower than 10-year Q2 average of 6.9% during 2010-2019.
Industrial Vacancy Rate
2nd Quarter 2021
1.5%
Down from 2.8% in Q2 of 2020
-1.3 pts.
MSA avg. monthly Labor Force was up 1.6% from Q1 2021. Labor force has grown 4% since January 2021 and increased in five of the past six months.
Labor Force
2nd Quarter 2021
197,395
Up 15,783 from Q2 2020
+8.7%
MSA Taxable Sales were up 4.6% from Q4 2020, were 14.4% higher than the Q1 average of $1.22 B during 2016-2020, and have gone up in 33 of the past 40 quarters, comparing sales to the same quarter of the previous year.
Taxable Sales
1st quarter 2021
$1.39 B
Up $179.5M from Q1 2020
+14.8%

My Take: Unprecedented Growth During the Pandemic

By Eddie Gonzalez-Loumiet, CEO

Ruvos is a healthcare technology company whose mission is to deliver clever and efficient solutions to problems so that the world is a better place for the communities we serve. During the pandemic, we experienced unprecedented growth that allowed us to add over 40 new employees. This growth has allowed us to expand our service offering as well as add more customers while staying true to our mission. We now operate across 15 states and opened a wholly-owned subsidiary in South Africa to support our goal of modernizing public health across the globe. Our headquarters may still be based in Tallahassee, but the Ruvos family spreads across both state lines and oceans.

With many of our team members being remote, team culture is extremely important to us as a company. We have game nights, weekly check-ins, and develop initiatives so our team culture remains strong. We boast that Ruvos is a family, and we mean it. We recently created and launched the “Kids Konnection”, an interactive and innovative program focused on families and children (45 and counting!) of Ruvos.

More data:
- Been in business for 17 years
- 74 employees
- Average employee age is 38
- 7% of employees were in the armed forces
- Involved in over 60 projects of national significance
- Support over 15 non-profit organizations in the Big Bend community
- In partnership with CDC and APHL, facilitated the secure transport and hosting of more than 1 Billion COVID-19 test results from states across the country to the federal government

 

Phone: 850-570-8248

Website: Ruvos.com

Email: Eddie@Ruvos.com