Employment was up 2.7% from the Q3 2024 average of 200,300. Month-to-month employment levels have increased in 38 of the past 60 months, with an average gain of approximately 300 per month.
Employment
4th Quarter 2024
205,700
Up 4,200 from Q4 2023
+2.1%
MSA Initial Claims for Unemployment Compensation in Q4 2024 were down by 27 (-5.4%) from 497 in Q3 2024, and 69% less than the 10-year Q4 average of 1,509 during 2014-2023.
Unemployment Compensation Claims
4th Quarter 2024
470
38 more than in Q4 2023
+8.8%
Single-Family Construction Permits in Leon Co. totaled 110 (City of Tallahassee, 84; Unincorporated Leon Co., 26), up 0.9% from 109 permits in Q3 2024, and 15% lower than the 10-year Q4 average of 130 permits during 2014-2023.
New Single-Family Construction Permits
4th Quarter 2024
110
50 fewer than in Q4 2023
-31.3%
Median Sales Price was down 1.5% from Q2 2024, has risen in 13 of the past 20 quarters in the MSA, and has been more than 20% lower than the statewide median sales price since Q3 2021.
Median Single-Family Home Sales Price
3rd Quarter 2024
$325,000
Up $3K from Q3 2023
+0.9%
MSA Tourist Development Tax Receipts decreased by 6.2% from Q2 2024 (receipts for Q3 were lower than Q2 in 18 of the past 20 years). Receipts were 30% higher than the 5-year Q3 average of $1.79M during 2019-2023.
Tourist Tax Receipts
3rd Quarter 2024
$2.32 M
Up $233K from Q3 2023
+11.2%
TLH Passengers in Q4 2024 were the most for any Q4 since 2005, and 31% higher than the 10-year Q4 average of 196,946 during 2014-2023.
Tallahassee Passengers
4th Quarter 2024
258,141
23,840 more than in Q4 2023
+10.2%
The MSA 3-month average Unemployment Rate was down 0.2 points from 3.8% in Q3 2024. The 3-month average Unemployment Rate has been under 4% since Q4 2021.
Unemployment Rate
4th Quarter 2024
3.6%
Up from 3.2% in Q4 2023
+0.4 pts.
MSA Average Weekly Wage was up 1.2% from Q2 2023, with quarter-to-quarter increases in 14 of the past 20 quarters.
Average Weekly Wage
2nd Quarter 2024
$1,142
$82 more than in Q2 2023
+7.7%
Mortgage Foreclosures in Leon Co. were down by 1 from a total of 38 in Q3 2024. Foreclosures in Q4 2024 were 58% lower than the 10-year Q4 average of 88 during 2014-2023.
Mortgage Foreclosures
4th Quarter 2024
37
16 fewer than in Q4 2023
-30.2%
Office Vacancy was down 0.3 points from 4.7% in Q3 2024, and has been under 6% every quarter since Q1 2020.
Office Vacancy Rate
4th Quarter 2024
4.4%
Down from 5.0% in Q4 of 2023
-0.6 pts.
Industrial Vacancy was down 0.2 points from 3.1% in Q3 2024, and has been under 4% every quarter since Q1 2018.
Industrial Vacancy Rate
4th Quarter 2024
2.9%
Up from 1.6% in Q4 of 2023
+1.3 pts.
MSA avg. monthly Labor Force was up 1,093 (0.5%) from Q3 2024. Statewide labor force in Q4 2024 was down -0.9% compared to Q4 2023.
Labor Force
4th Quarter 2024
205,340
Down 385 from Q4 2023
-0.2%
MSA Taxable Sales in Q3 2024 were down -4.7% from Q2 2024, and 9.5% higher than the Q3 average of $1.46 B during 2019-2023.
Taxable Sales
3rd Quarter 2024
$1.59 B
Up $10M from Q3 2023
+0.6%
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