Tuesday, May 29, 2012

Biz Barometer


Another Strong Month for the Pekin-Area Economy
Pekin’s sales tax disbursement received from the state in May was 11.5% greater than the May 2011 payment.  This generally represents tax collected on sales in February.
Pekin’s sales tax disbursements received from the state in the last 3 months are 7.7% greater than the same period in 2011.
East Peoria’s sales tax disbursement received from the state for the last 12 months is 10.5% greater than the previous 12-month period.
For the 12 months ending in May, Pekin (+2.4%), Morton (4.2%), and Washington (3.4%) also saw increases over the previous year’s tax disbursements received from the state.
The number of residential units sold in the 61554 zip code in the first three months of 2012 is up 17.8% over the same period in 2011. 
The average sales price of a residential unit in Pekin in the first three months of 2012 is up 6.7% over the same period in 2011.
Pekin’s unemployment rate fell from 8.8% in March of 2012 to 8.0% in April of 2012.
The number of people employed in Pekin (16,228) in April of 2012 was 90 more than March of 2012.
The number of people employed in Pekin (16,228) in April of 2012 was 459 or 2.9% more than January of 2012.
The number of people employed in the Peoria region (187,650) in April of 2012 was 5,303 or 2.9% more than January of 2012.
Nationally, non-farm payroll employment rose by 115,000 in April, and the unemployment rate was little changed at 8.1. Employment increased in professional and business services, retail trade, and health care, but declined in transportation and warehousing.
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in April on a seasonally adjusted basis.  Over the last 12 months, the all items index increased 2.3% before adjustments. 
Sources:  Illinois Department of Employment Security; Illinois Department of Revenue; Peoria Area Association of Realtors; Bureau of Labor Statistics