Quarterly Economic Dashboard

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Employment was down 0.7% from the Q4 2024 average of 205,700. Private sector employment in Q1 2025 increased by 3,400 (2.5%) compared to Q1 2024.
Employment
1st Quarter 2025
204,900
Up 4,100 from Q1 2024
+2.0%
MSA Initial Claims for Unemployment Compensation in Q1 2025 were up by 10 (2.1%) from a total of 470 in Q4 2024, and 77% less than the 10-year Q1 average of 2,053 during 2015-2024.
Unemployment Compensation Claims
1st Quarter 2025
480
46 more than in Q1 2024
+10.6%
Single-Family Construction Permits in Leon Co. totaled 143 (City of Tallahassee, 110; Unincorporated Leon Co., 33), up 33 (30.0%) from 110 permits in Q4 2024, and 16.8% lower than the 10-year Q1 average of 172 permits during 2015-2024.
New Single-Family Construction Permits
1st Quarter 2025
143
12 fewer than in Q1 2024
-7.7%
Median Sales Price was down 1.5% from Q3 2024, has risen in 12 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
4th Quarter 2024
$325,000
Up $3K from Q4 2023
+0.9%
MSA Tourist Development Tax Receipts increased by 27.2% from Q3 2024 (receipts for Q4 were higher than Q3 in 19 of the past 20 years). Receipts were 42% higher than the 5-year Q4 average of $2.08M during 2019-2023.
Tourist Tax Receipts
4th Quarter 2024
$2.95 M
Up $97K from Q4 2023
+3.4%
TLH Passengers in Q1 2025 were down 14.6% from Q4 2024 and 25% higher than the 10-year Q1 average of 175,763 during 2015-2024.
Tallahassee Passengers
1st Quarter 2025
219,877
4,225 fewer than in Q1 2024
-1.9%
The MSA 3-month average Unemployment Rate was up 0.2 points from 3.5% in Q4 2024. The 3-month average Unemployment Rate has been under 4% since Q4 2021.
Unemployment Rate
1st Quarter 2025
3.7%
Up from 3.2% in Q1 2024
+0.5 pts.
MSA Average Weekly Wage was unchanged from Q2 2024, with quarter-to-quarter increases in 15 of the past 20 quarters.
Average Weekly Wage
3rd Quarter 2024
$1,142
$67 more than in Q3 2023
+6.2%
Mortgage Foreclosures in Leon County were up by 17 from a total of 37 in Q4 2024. Foreclosures in Q1 2025 were 44% lower than the 10-year Q1 average of 97 during 2015-2024.
Mortgage Foreclosures
1st Quarter 2025
54
12 fewer than in Q1 2024
-18.2%
MSA Office Vacancy was up 0.5 points from 4.4% in Q4 2024, and has been under 6% every quarter since Q1 2020.
Office Vacancy Rate
1st Quarter 2025
4.9%
Up from 4.4% in Q1 of 2024
+0.5 pts.
MSA Industrial Vacancy was up 0.6 points from 2.6% in Q4 2024, and has been under 4% every quarter since Q1 2018.
Industrial Vacancy Rate
1st Quarter 2025
3.2%
Up from 1.4% in Q1 of 2024
+1.8 pts.
MSA avg. monthly Labor Force was down 186 (-0.1%) from Q4 2024. Statewide labor force in Q1 2025 was up only 0.7% compared to Q1 2024.
Labor Force
1st Quarter 2025
210,840
Up 3,674 from Q1 2024
+1.8%
MSA Taxable Sales in Q4 2024 were up 9.1% from Q3 2024, and 15% higher than the Q4 average of $1.51 B during 2019-2023.
Taxable Sales
4th Quarter 2024
$1.74 B
Up $65.6M from Q4 2023
+3.9%

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.