Tuesday, March 22, 2011

Biz Barometer

The Bureau of Labor Statistics reported nonfarm payroll employment increased nationally by 192,000 in February, and the unemployment rate was little changed at 8.9 percent.  Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing.  Locally, the unemployment stood at 9.6% in Illinois and 10.6% in Pekin at the end of January according to figures released by the Illinois Department of Employment Security.

The Illinois Department of Revenue reports sales tax disbursements to the City of Pekin were up 8.1% in February, compared to February of 2010.  February payments generally represent the sales tax collected in December.  For the first quarter of 2011, sales tax disbursements to the City of Pekin are 4.6% ahead of the first three months of 2010. 

The numbers of homes sold in Pekin during the first two months of 2011 are up 12.5% over the same first two months in 2010.  A similar trend can be found in other Tazewell County communities according to information provided by the Peoria Area Association REALTORS. 

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in February on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 2.1 percent before seasonal adjustment.  Though the seasonally adjusted increase in the all items index was broad-based, the energy index was the largest contributor, as the gasoline index continued to rise.

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