Quarterly Economic Dashboard

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Employment was up 11,561 from Q2 2020, an increase of 7.2%.
Employment
3rd Quarter 2020
172,995
Down 15,293 from Q3 2019
-8.1%
MSA Initial Claims for Unemployment Compensation in Q3 2020 were down 58% from the previous quarter.
Unemployment Compensation Claims
3rd Quarter 2020
8,570
15,293 more than in Q3 2019
+605%
Single-Family Construction Permits in Leon Co. increased 12.2% from Q2 2020, totaled the most for any Q3 since 2007, and were 33% more than the Q3 average of 145 during 2015 to 2019.
New Single-Family Construction Permits
3rd Quarter 2020
193
42 more than in Q3 2019
27.8%
Median Sales Price was up 0.6% from Q1 2020, 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.
Median Single-Family Home Sales Price
2nd Quarter 2020
$240,000
Up $10,050 from Q2 2019
4.4%
MSA Tourist Development Tax Receipts decreased 54.2% from Q1 2020 and were at the lowest quarterly total since Q1 2005.
Tourist Tax Receipts
2nd Quarter 2020
$0.74 M
Down $1.33M from Q2 2019
64.2%
TLH Passengers in Q3 2020 were about 2½ times higher than in Q2 2020, but 61% lower than the Q3 average of 186,274 during 2015-2019.
Tallahassee Passengers
3rd Quarter 2020
71,854
140,488 fewer than in Q3 2019
66.2%
The MSA 3-month average Unemployment Rate dropped 1.6 points from 7.8% in Q2 2020, the sharpest decrease in a single quarter in over 30 years.
Unemployment Rate
3rd Quarter 2020
6.2%
Up from 3.4% in Q3 2019
2.8 pts.
MSA Average Weekly Wage 4-quarter moving average has increased in all but 1 quarter since 2015, comparing same quarter of the prior year.
Average Weekly Wage
1st Quarter 2019
$872
$19 more than in Q1 2019
2.2%
Mortgage Foreclosures in Leon Co. increased from a total of 7 in Q2 2020 due to the expiration of the executive order that had stopped foreclosure proceedings statewide since April.
Mortgage Foreclosures
3rd Quarter 2020
31
77 fewer than in Q3 2019
71.3%
Office Vacancy decreased 0.1 points from 6.1% in Q2 2020, but was the highest for any Q3 since 2015, when it was 7.9%.
Office Vacancy Rate
3rd Quarter 2020
6.0%
Up from 4.9% in Q3 of 2019
1.1 pts
Industrial Vacancy fell 0.9 points from 3.2% in Q2 2020, and was only 2.3 points lower than Q3 average of 4.6% during 2015-2019.
Industrial Vacancy Rate
3rd quarter 2020
2.3%
Up from 2.2% in Q3 of 2019
0.1 pts
MSA avg. monthly Labor Force was up 5.3% from Q2 2020, the largest percentage increase in a single quarter in over 30 years.
Labor Force
3rd quarter 2020
184,376
Down 10,412 from Q3 2019
5.3%
MSA Taxable Sales were down 4.8% from Q1 2020, were comparable to Q1 2016, and have gone up in 16 of the past 20 quarters, comparing sales to the same quarter of the previous year.
Taxable Sales
2nd quarter 2020
$1.15 B
Down $184.4 M from Q2 2019
13.8%

My Take: Shop Tally and Women Wednesdays

Barbara Westcott

11/25/2020

Shop Tally and Women Wednesdays announces POWER of the PUR$E - Shop Tally Pledge. Our goal is to engage area women to shift +10% of their current online spending back to Tallahassee businesses. Harnessing the power of women makes sense and cents.

Women are a key driver for local spending. In fact, women make up 70-80% of consumer purchasing decisions. They are also starting businesses at a record pace, with women of color leading the way. So in the challenging times of COVID19, compounded further by the ever-increasing trends for remote spending, women could be our greatest opportunity to support our local economy. And in a city where women are uniting on a mission to become #1City4WomenTally #togetHER, their ability for impact cannot be underestimated.

Let’s keep more jobs and money in our community by choosing to increase our local spending. Will you join us?

Enter to win a $100 local shopping spree by taking and sharing the POWER of the PUR$E - Shop Local PLEDGE at either of the following sites: