Quarterly Economic Dashboard

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Employment was up 4,229 from Q3 2021, an increase of 2.3%. Six consecutive quarters of employment gains since Q3 2020 have offset 98% of the employment losses occurring in Q1 and Q2 2020.
Employment
4th quarter 2021
191,467
Up 9,557 from Q4 2020
+5.3%
MSA Initial Claims for Unemployment Compensation in Q4 2021 were down 28% from Q3 2021 and 80% less than the 10-year Q4 average of 2,233 during 2010-2019.
Unemployment Compensation Claims
4th Quarter 2021
481
4,010 fewer than in Q4 2020
-89.3%
Single-Family Construction Permits in Leon Co. were 32% higher than the 10-year Q4 average of 114 during 2011-2020. There were 828 single-family permits issued by the City and County in 2021, the most for any year since the 1,113 permitted in 2007. Unincorporated Leon County accounted for 73% of 2021 permits; the City of Tallahassee, 27%.
New Single-Family Construction Permits
4th Quarter 2021
151
1 less than in Q4 2020
-0.7%
Median Sales Price was up 1.5% from Q2 2021, has risen in 12 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
3rd Quarter 2021
$278,875
Up $28,875 from Q3 2020
+11.6%
MSA Tourist Development Tax Receipts increased 16.2% from Q2 2021 and were 57% higher than the 10-year Q3 average of $1.27M during 2010-2019.
Tourist Tax Receipts
3rd Quarter 2021
$1.98 M
Up $952K from Q3 2020
+92%
TLH Passengers in Q4 2021 were up 16.6% from Q3 2021, and nearly 14% higher than the 10-year Q4 average of 189,941 during 2010-2019.
Tallahassee Passengers
4th Quarter 2021
215,433
117,838 more than in Q4 2020
+121%
The MSA 3-month average Unemployment Rate decreased 1.1 points from 4.2% in Q3 2021.
Unemployment Rate
4th Quarter 2021
3.1%
Down from 4.2% in Q4 2020
-1.1 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
2nd Quarter 2021
$949
$48 more than in Q2 2020
+5.3%
Mortgage Foreclosures in Leon Co. were up 59% from the 29 in Q3 2021. Foreclosures in Q4 2021 were 76% lower than the 10-year Q4 average of 192 during 2010-2019.
Mortgage Foreclosures
4th Quarter 2021
46
7 more than in Q4 2020
+17.9%
Office Vacancy increased 0.4 points from 6.0% in Q3 2021, and was unchanged from Q2 2021.
Office Vacancy Rate
4th Quarter 2021
6.4%
Up from 5.9% in Q4 of 2020
+0.5 pts.
Industrial Vacancy fell 0.3 points from 1.4% in Q3 2021, and was down 5.9 points from the Q4 average of 7.0% during 2010-2019. The industrial vacancy rate has decreased seven consecutive quarters since Q1 2020.
Industrial Vacancy Rate
4th Quarter 2021
1.1%
Down from 2.0% in Q4 of 2020
-0.9 pts.
MSA avg. monthly Labor Force was up 1.1% from Q3 2021. Labor force has grown 2.2% since January 2021 and has increased in seven of the past 12 months.
Labor Force
4th Quarter 2021
197,646
Up 7,762 from Q4 2020
+4.1%
MSA Taxable Sales were down 0.6% from Q2 2021, were 22% higher than the Q3 average of $1.23 B during 2016-2020, and have gone up in 34 of the past 40 quarters, comparing sales to the same quarter of the previous year.
Taxable Sales
3rd quarter 2021
$1.51 B
Up $239M from Q3 2020
+18.8%

My Take: Love Your Local

By Cristina Paredes, Director of the Tallahassee-Leon County Office of Economic Vitality

Tallahassee-Leon County has a special place in my heart. From the award-winning parks and outdoor adventures to the innovation that thrives from our world-class universities and research institutions, there are a lot of incredible and unique qualities that keep our community beating strong. But what I love most about this time of year is exploring the unique local businesses that help fuel our economic vitality. At the Office of Economic Vitality (OEV), one of our priorities is supporting and celebrating local businesses, which is why we’ve created the Love Your Local initiative. Love Your Local shines a light on local companies in Tallahassee-Leon County and encourages residents and visitors alike to show love to our local businesses by supporting them.

Our local businesses offer unique products and services that make them special, and beyond the products they provide, they continue to make great contributions to our community and local economy. They are built, owned, and operated by your neighbors. So before you travel to a big-box store or shop with an online retailer outside of our community, join the movement to Love Your Local. Right now, many of us are making plans for our holiday shopping, so let’s all make a conscious effort to visit and support local companies in Tallahassee-Leon County. That’s the kind of thing that speaks volumes to businesses and our community.

Phone: 850-219-1080

Website: OEVforBusiness.org

Email: CParedes@OEVforBusiness.org