Quarterly Economic Dashboard

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Employment was up 1,304 from Q1 2022, an increase of 0.7%. Eight consecutive quarters of employment gains since Q3 2020 have surpassed employment losses occurring in Q1 and Q2 2020 by over 4,700.
Employment
2nd quarter 2022
193,883
Up 9,218 from Q2 2021
+5.0%
MSA Initial Claims for Unemployment Compensation in Q2 2022 were up 20% from Q1 2022, and 87% less than the 10-year Q2 average of 2,754 during 2012-2021.
Unemployment Compensation Claims
2nd Quarter 2022
528
1,735 fewer than in Q2 2021
-76.7%
Single-Family Construction Permits in Leon Co. were 1% lower than the 10-year Q2 average of 155 during 2012-2021.
New Single-Family Construction Permits
2nd Quarter 2022
153
70 fewer than in Q2 2021
-31.4%
Median Sales Price was up 5.9% from Q4 2021, has risen in 14 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
1st Quarter 2022
$296,500
Up $40,000 from Q1 2021
+15.6%
MSA Tourist Development Tax Receipts decreased 12.4% from Q4 2021 and were almost 52% higher than the 10-year Q1 average of $1.27M during 2012-2021.
Tourist Tax Receipts
1st Quarter 2022
$1.92 M
Up $857K from Q1 2021
+80.5%
TLH Passengers in Q2 2022 were up 18.4% from Q1 2022, and 28% higher than the 10-year Q2 average of 170,627 during 2012-2021.
Tallahassee Passengers
2nd Quarter 2022
218,894
33,967 more than in Q2 2021
+35.0%
The MSA 3-month average Unemployment Rate was down 0.4 points from 3.1% in Q1 2022.
Unemployment Rate
2nd Quarter 2022
2.7%
Down from 4.4% in Q2 2021
-1.7 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
4th Quarter 2021
$1,092
$66 more than in Q4 2020
+6.4%
Mortgage Foreclosures in Leon Co. were up 25% from the 60 in Q1 2022. Foreclosures in Q2 2022 were 57% lower than the 10-year Q2 average of 176 during 2012-2021.
Mortgage Foreclosures
2nd Quarter 2022
75
46 more than in Q2 2021
+159%
Office Vacancy was down from 6.4% in Q1 2021, and has only decreased in three of the nine quarters since Q1 2020 when the vacancy rate was 5.6%.
Office Vacancy Rate
2nd Quarter 2022
6.1%
Down from 6.4% in Q2 of 2021
-0.3 pts.
Industrial Vacancy was unchanged from 1.2% in Q1 2022, and has been under 2% every quarter since Q4 2020.
Industrial Vacancy Rate
2nd Quarter 2022
1.2%
Down from 1.4% in Q2 of 2021
-0.2 pts.
MSA average monthly Labor Force was up 0.3% from Q1 2022. Labor force has grown 3.2% since Q1 2020 and has increased in 16 of the past 24 months.
Labor Force
2nd Quarter 2022
199,262
Up 6,042 from Q2 2021
+3.2%
MSA Taxable Sales were up 4.7% from Q3 2021, were 21% higher than the Q4 average of $1.30 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
1st quarter 2021
$1.55 B
Up $156M from Q1 2021
+11.2%

Support Small Businesses to Strengthen the Local Economy

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