Employment was up 4,012 (2.0%) from Q2 2023, the largest quarter-to-quarter gain since the increase of 4,399 (2.3%) from Q3 to Q4 2021.
Employment
3rd Quarter 2023
203,133
Up 7,397 from Q3 2022
+3.8%
MSA Initial Claims for Unemployment Compensation in Q3 2023 were up 6.2% from Q2 2023, and 76% less than the 10-year Q3 average of 2,253 during 2013-2022.
Unemployment Compensation Claims
3rd Quarter 2023
533
8 more than in Q3 2022
+1.5%
Single-Family Construction Permits in Leon Co. were down 31% from a total of 218 permits in Q2 2023, but equal to the 10-year Q3 average of 150 permits during 2013-2022.
New Single-Family Construction Permits
3rd Quarter 2023
150
17 more than in Q3 2022
+12.8%
Median Sales Price was up 8.9% from Q1 2023, has risen in 14 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
2nd Quarter 2023
$332,000
Up $22,000 from Q2 2022
+7.1%
MSA Tourist Development Tax Receipts increased by 38.7% from Q1 2023 (receipts for Q2 were more than Q1 in 18 of the past 19 years). Receipts were 67% higher than the 10-year Q2 average of $1.56M during 2013-2022.
Tourist Tax Receipts
1st Quarter 2023
$2.62 M
Up $336K from Q2 2022
+16.3%
TLH Passengers in Q3 2023 were up 0.8% from Q2 2023, and 24% higher than the 10-year Q3 average of 173,009 during 2013-2022.
Tallahassee Passengers
3rd Quarter 2023
214,900
10,290 more than in Q3 2022
+5.0%
The MSA 3-month average Unemployment Rate was up 0.4 points from 2.9% in Q2 2023. The 3-month average Unemployment Rate has been under 4% since Q4 2021.
Unemployment Rate
3rd Quarter 2023
3.3%
Up from 3.0% in Q3 2022
+0.3 pts.
An MSA Average Weekly Wage year-over-year rate of increase in Q1 2023 was the highest since the 10% increase of Q3 2021.
Average Weekly Wage
1st Quarter 2023
$1,057
$90 more than in Q1 2022
+9.3%
Mortgage Foreclosures in Leon Co. were down by 12 from a total of 80 in Q2 2023. Foreclosures in Q3 2023 were 40% lower than the 10-year Q3 average of 114 during 2013-2022.
Mortgage Foreclosures
3rd Quarter 2023
68
5 fewer than in Q3 2022
-6.8%
Office Vacancy was down 0.2 points from 5.5% in Q2 2023, and has been under 6% since Q2 2022.
Office Vacancy Rate
3rd Quarter 2023
5.3%
Down from 5.6% in Q3 of 2022
-0.3 pts.
Industrial Vacancy was unchanged from Q2 2023, has been under 3% every quarter since Q2 2018 and under 2% every quarter since Q4 2020.
Industrial Vacancy Rate
3rd Quarter 2023
1.8%
Up from 1.7% in Q3 of 2022
+0.1 pts.
Tallahassee MSA average monthly Labor Force was up 4,911 (2.4%) from Q2 2023, the largest quarter-to-quarter increase since the gain of 10,573 (5.9%) from Q2 to Q3 2020.
Labor Force
3rd Quarter 2023
209,930
Up 8,117 from Q3 2022
+4.0%
Tallahassee MSA Taxable Sales in Q2 2023 had the first year-over-year decline since Q4 2020, but were up 1.4% from Q1 2023 and almost 12% higher than the Q2 average of $1.45 B during 2018-2022.
Taxable Sales
2nd Quarter 2023
$1.63 B
Down $2M from Q2 2022
-0.1%
Support Small Businesses to Strengthen the Local Economy