Quarterly Economic Dashboard

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Employment was up 3,131 from Q2 2022, an increase of 1.6%. Nine consecutive quarters of employment gains since Q3 2020 have surpassed employment losses occurring in Q1 and Q2 2020 by over 7,800.
Employment
3rd quarter 2022
197,014
Up 9,776 from Q3 2021
+5.2%
MSA Initial Claims for Unemployment Compensation in Q3 2022 were up by 1 from Q2 2022, and 79% less than the 10-year Q3 average of 2,505 during 2012-2021.
Unemployment Compensation Claims
3rd Quarter 2022
529
139 fewer than in Q3 2021
-20.8%
Single-Family Construction Permits in Leon Co. were 8% lower than the 10-year Q3 average of 145 during 2012-2021.
New Single-Family Construction Permits
3rd Quarter 2022
133
94 fewer than in Q3 2021
-41.4%
Median Sales Price was up 4.6% from Q1 2022, has risen in 14 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 2022
$310,000
Up $35,200 from Q2 2021
+12.8%
MSA Tourist Development Tax Receipts increased 17.1% from Q1 2022 and were almost 56% higher than the 10-year Q2 average of $1.45M during 2012-2021.
Tourist Tax Receipts
2nd Quarter 2022
$2.25 M
Up $544K from Q2 2021
+31.5%
TLH Passengers in Q3 2022 were down 6.1% from Q2 2022, and 20% higher than the 10-year Q3 average of 169,810 during 2012-2021.
Tallahassee Passengers
3rd Quarter 2022
204,509
19,639 more than in Q3 2021
+10.6%
The MSA 3-month average Unemployment Rate was up 0.1 point from 2.7% in Q2 2022.
Unemployment Rate
3rd Quarter 2022
2.8%
Down from 4.2% in Q3 2021
-1.4 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
1st Quarter 2022
$969
$63 more than in Q1 2021
+6.7%
Mortgage Foreclosures in Leon Co. were down 2.7% from the 75 in Q2 2022. Foreclosures in Q3 2022 were 51% lower than the 10-year Q3 average of 149 during 2012-2021.
Mortgage Foreclosures
3rd Quarter 2022
73
44 more than in Q3 2021
+152%
Office Vacancy was unchanged from 6.1% in Q2 2021, and has only decreased in three of the ten quarters since Q1 2020 when the vacancy rate was 5.6%.
Office Vacancy Rate
3rd Quarter 2022
6.1%
Up from 6.0% in Q3 of 2021
+0.1 pts.
Industrial Vacancy was up from 1.2% in Q2 2022, and has been under 2% every quarter since Q4 2020.
Industrial Vacancy Rate
3rd Quarter 2022
1.8%
Up from 1.4% in Q3 of 2021
+0.4 pts.
MSA average monthly Labor Force was up 0.3% from Q1 2022. Labor force has grown 3.2% since Q1 2020 and has increased in 16 of the past 24 months.
Labor Force
3rd Quarter 2022
202,731
Up 7,261 from Q3 2021
+3.7%
MSA Taxable Sales were up 5.1% from Q1 2022, were 26% higher than the Q2 average of $1.29 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
2nd quarter 2022
$1.63 B
Up $110M from Q2 2021
+7.3%

Support Small Businesses to Strengthen the Local Economy

According to the American Independent Business Alliance, independent retailers return more than three times as much money per dollar of sales than chain competitors. This means more of each dollar spent at a local, independent business is returned to the communitysupporting wages, suppliers and livelihoods. Visit our local business directory to support small businesses in Tallahassee-Leon County.