Consumer Spending Up, Jobs Decline for Second Month

Listed below is the Leon County Economic Indicators Dashboard. The dashboard provides a historic and a recent snapshot of economic indicators for Leon County. The dashboard provides information, that at a glance, can provide a broad assessment of the local economy.
The indicators were chosen to represent leading and lagging measures of the local economy. For example, economists view permits issued, residential housing market activity and retail spending as a signal of future economic activity. In contrast, employment is considered a lagging indicator which means the measure shifts after the economy changes.
JOBS
Leon county lost 722 jobs in May. This follows a loss of 1,221 jobs in April. The number of people employed fell to 141,610. Despite losing jobs, the unemployment rate actually decreased from 4.2% to 4.0%. This was due to an decrease in people looking for jobs. Details provided on Page 4.
HOME SALES
May numbers for single-family existing home sales show the annual-rate of sales continues to increase. There were 2,958 single-family units sold over the previous twelve months. This is a 1.1% increase over the annual rate reported last month and a 10.6% increase when compared to the annual rate reported one year ago. Details are provided on page 6.
SPENDING
The annual rate of growth for consumer spending has been slowing since the 8.99% annual growth reported in 2013. The most recent three months of consumer spending data available shows moderate increases in the annual rate of spending. Details are provided on page 9.
SINGLE FAMILY NC PERMITS
The number of new construction single-family permits has been increasing since 2012. The May numbers continue to support growth in the annual rate. There were 523 single-family permits issued over the previous twelve months. This is 0.8% over last months annual rate and 24.5% over the annual rate of 420 reported in May, 2015. Details are provided on page 6.

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