Biz Barometer

Pekin’s sales tax disbursement received from the state in February was 12.6% more than February of 2012.

February disbursements typically represent sales taxes collected by merchants in November and paid to the state in December.

Pekin’s sales tax disbursements received from the state for the last 3 months were 16.6% greater than the same three months a year ago.

The other three large communities on the east side of the Illinois River showed mixed results in sales tax disbursements received in February. Compared to February of 2012: Morton (-1.7%), Washington (+4.0%), and East Peoria (+6.7%).

For the 12-months ending in February, all four communities showed an increase in sales tax receipts from the state, compared to the same 12-months a year ago: Pekin (+9.7%), East Peoria (+6.6%), Washington (+3.2%), and Morton (+2.6%).

The number of residential units sold in Pekin in January was 19% greater than the sales in January of 2012.

The other large Tazewell County communities had mixed residential sales unit results in January compared to January of 2012: East Peoria (+72.7%), Morton (+44.4%), and Washington (-23.5%).

The average sales price of a Pekin residential unit in January was $91,154, which is down 20.6% from the January 2012 average price of $114,736.

The average sales price of residential units in the other large Tazewell communities was mixed compared to January of 2012: East Peoria (+12.6%), Washington (+8.6%), and Morton (-20.7%).

The unemployment rate in Pekin in December rose to 9.4%, which is up from 8.6% in November of 2012.

The December unemployment rate in the Peoria region stood at 7.9%, up slightly from December of 2011’s rate of 7.8%.

The number of people employed in Pekin in December was 15,989, which is 272 or 1.7% less than the employment level in December of 2011.

Nationally, nonfarm payroll employment rose by 157,000 in January, and the unemployment rate was unchanged at 7.9%.

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in January, as it was in December. Over the last 12 months, the all items index increased 1.6% before seasonal adjustment.