Tuesday, May 31, 2011

Biz Barometer

The U.S. Bureau of Labor Statistics reported the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in April on a seasonally adjusted basis.  Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.
Non-farm payroll employment rose by 244,000 in April, and the unemployment rate edged up to 9.0 percent, the U.S. Bureau of Labor Statistics reported.  Job gains occurred in several service-providing industries, manufacturing, and mining.

The Illinois and Peoria area unemployment rates both dropped to 9.1% in March according to the Illinois Department of Employment Security.  The Tazewell County unemployment rate fell to 8.9%, while Pekin’s rate dropped to 10.2%.  The number of people employed in Pekin is nearly 800 more than in March of 2010.

The Illinois Department of Revenue reports sales tax disbursements to the City of Pekin were down 3.2% in May, compared to May of 2010.  May payments generally represent the sales tax collected in March.  For the first five months of 2011, sales tax disbursements to the City of Pekin are 3.9% ahead of the same period in 2010. 

The number of homes sold in Pekin during the first four months of 2011 are down 25% compared to the same months in 2010.  A total of 114 residential units have been sold in the 61554 zip code this year, compared to 153 during the same period in 2010.  A similar trend can be found in other Tazewell County communities according to information provided by the Peoria Area Association of REALTORS.  The average sales price is also lagging behind last year’s numbers. 

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