Wednesday, October 30, 2013

Biz Barometer

Pekin’s sales tax disbursements received from the state in October were 0.4% more than October of 2012.  October disbursements typically represent sales taxes collected by merchants in July and paid to the state in August.

Pekin’s sales tax disbursements received from the state for the last 3 months were 1.9% greater than the same three months a year ago.

Two of the other three large communities on the east side of the Illinois River received more sales tax disbursements in October, compared to October of 2012:  Morton (1.7%), and Washington (4.3%).  However, East Peoria received 5.6% less sales tax disbursement in October, compared to October of 2012.

For the 12 months ending in October, Pekin (+10.0%), East Peoria (+4.1%), and Washington (+2.5%) all received more sales tax disbursements than the 12 months ending in October of 2012.  Morton’s sales tax disbursements received from the state were down (-0.8%) for the same period.    

The number of residential units sold in Pekin in the first nine months of the year was 11.8% greater than the sales in the first five months of 2012.

The other large Tazewell County communities have all closed less residential unit sales in the first nine months of the year, compared to the same period in 2012:  East Peoria was down –0.8%, Washington was down –5.7%, and Morton was down  -9.5%.

The average sales price of a Pekin residential unit in the first nine months of the year was $109,672, which is down 0.5% from the average price for the same period in 2012.

The year-to-date average sales price of residential units in the other large Tazewell communities was mixed compared to 2012:  East Peoria (+4.9%), Washington (+4.2%), and Morton (-10.0%).

The unemployment rate in Pekin dropped to 9.8% in August, down from 10.6% in July, but up from 9.3% in August of 2012.

The August unemployment rate in the Peoria region stood at 8.7%, down from the 9.4% in July, but up from 8.0 in August of 2012 .

The number of people employed in Pekin in August was 15,575 — 668 lower than April of 2012.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in August on a seasonally adjusted basis.  Over the last 12 months, the all items index increased 1.5 percent before seasonal adjustment.

Nationally, Total nonfarm payroll employment rose by 148,000 in September, and the unemployment rate was little changed at 7.2 percent.


(Source:  Peoria Area Association of Labor, Illinois Department of Revenue, Bureau of Labor Statistics, Illinois) Department of Employment Security)

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