Employment was down 1.4% from the Q1 2024 average of 199,077. Average employment has increased year-over-year 13 consecutive quarters.
Employment
2nd Quarter 2024
196,275
Up 2,029 from Q2 2023
+1.0%
MSA Initial Claims for Unemployment Compensation in Q2 2024 were up by 105 (24.2%) from 434 in Q1 2024, and 83% less than the 10-year Q2 average of 3,251 during 2014-2023.
Unemployment Compensation Claims
2nd Quarter 2024
539
37 more than in Q2 2023
+7.4%
Single-Family Construction Permits in Leon County were down 7.7% from a total of 155 permits in Q1 2024, and 18% lower than the 10-year Q2 average of 174 permits during 2014-2023.
New Single-Family Construction Permits
2nd Quarter 2024
143
75 fewer than in Q2 2023
-34.4%
Median Sales Price was down 5.3% from Q4 2023, 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
1st Quarter 2024
$305,000
Unchanged from Q1 2023
SAME
MSA Tourist Development Tax Receipts decreased by 23.2% from Q4 2023 (receipts for Q1 were less than Q4 in 18 of the past 20 years). Receipts were 33% higher than the 5-year Q1 average of $1.65M during 2019-2023.
Tourist Tax Receipts
1st Quarter 2024
$2.19 M
Up $304K from Q1 2023
+16.1%
TLH Passengers in Q2 2024 were the most for any quarter since Q2 2007, and 39% higher than the 10-year Q2 average of 177,978 during 2014-2023.
Tallahassee Passengers
2nd Quarter 2024
247,085
32,874 more than in Q2 2023
+15.3%
The MSA 3-month average Unemployment Rate was up 0.1 points from 3.4% in Q1 2024. The 3-month average Unemployment Rate has been under 4% since Q4 2021.
Unemployment Rate
2nd Quarter 2024
3.5%
Up from 3.0% in Q2 2023
+0.5 pts.
The MSA Average Weekly Wage was up $96 from Q3 2023, the largest quarter-to-quarter increase since the $109 increase of Q4 2020.
Average Weekly Wage
4th Quarter 2023
$1,171
$86 more than in Q4 2022
+7.9%
Mortgage Foreclosures in Leon Co. were down by 6 from a total of 66 in Q1 2024. Foreclosures in Q2 2024 were 48% lower than the 10-year Q2 average of 115 during 2014-2023.
Mortgage Foreclosures
2nd Quarter 2024
60
21 fewer than in Q2 2023
-25.9%
Office Vacancy was up 0.1 points from 4.4% in Q1 2024, and has been under 6% since Q1 2020.
Office Vacancy Rate
2nd Quarter 2024
4.5%
Down from 5.4% in Q2 of 2023
-0.9 pts.
Industrial Vacancy was up from 1.6% in Q1 2024, and has been under 4% every quarter since Q2 2018. The surge of 1.8 pts. was the highest year-over-year rate increase since Q2 2009.
Industrial Vacancy Rate
2nd Quarter 2024
3.6%
Up from 1.8% in Q2 of 2023
-0.1 pts.
MSA average monthly Labor Force was down 2,820 (-1.4%) from Q1 2024. Labor Force has increased year-over-year 13 consecutive quarters.
Labor Force
2nd Quarter 2024
203,336
Up 3,023 from Q2 2023
+1.5%
MSA Taxable Sales in Q1 2024 were down 1.9% from Q4 2023, and 16% higher than the Q1 average of $1.42 B during 2019-2023.
Taxable Sales
1st Quarter 2024
$1.64 B
Up $36M from Q1 2023
+2.4%
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