Thursday, August 25, 2011

Biz Barometer

Like the stock markets, the local economy is on a wild ride of ups and downs.

The number of people employed in Pekin rose to 16, 458 in June.  According to the Illinois Department of Employment Security, that’s the fourth consecutive month of job growth and the highest local employment level since December of 2008.

The Illinois Department of Revenue reports Pekin’s year-to-date sales tax receipts through August are 1.7% above last year’s mark.  While it is positive growth, it lags behind the growth rate of other Tazewell County communities. 

The local housing market remains stagnant.  Year-to-date residential unit sales are 4.3% lower, and the average sales price is 6.8% lower than the same period last year.  The Peoria Area Association of REALTORS reports other Tazewell County communities are experiencing similar trends.  

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