Monthly – Office of Economic Vitality

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Office of Economic Vitality

City of Tallahassee

(up 0.1% Year-over-Year)

(up 0.1% Year-over-Year)

Total Taxable Sales

(down -10.4% Year over Year)

Tallahassee MSA

(down -4.0% Year over Year)

Average Weekly Earnings

Tallahassee MSA

$1,144

(Up 16.2% Year over Year) (with 3.6% regional inflation = ~12.7% net)

Unemployment Rate

City of Tallahassee

(Up 1.6 points Year-over-Year)

(Up 1.5 points Year-over-Year)

Industry/Office Vacancy Rate

Industrial Vacancy Rate

Up 0.2 Points Year-over-Year

Office Vacancy Rate

Up 0.4 Points Year-over-Year

New Business Utility Starts

61

(Down -17% year-over-year )

Certified MWSBEs

OEV MWSBE Vendors

OSD MWBE Vendors

MWSBE Employees

Total Employees

MWBE Project Participation

City-County project bids awarded to MWBEs

MWBE Percentage

Indicator Key

LEADING INDICATOR: may signal future changes
LAGGING INDICATOR: may confirm pattern already in progress
COINCIDENT INDICATOR: occurs in real time and clarifies condition of economy

The terms leading, lagging, and coincident deal with the time horizon and not whether the economy is doing “better or worse” relative to somewhere else. Leading indicators are considered to point toward future events, are upstream in the process, and can give a heads-up for anticipated trends. Lagging indicators are seen as confirming a pattern in progress, and can only be known after the event because they are the outcomes of the leading factors that occur upstream. Coincident indicators occur in real time and clarify the state of the economy. They tend to move in step with general economic trends and give a snapshot context of what is happening and how markets and economies are responding to the factors that affect their direction.