Monday, December 23, 2013

Biz Barometer

Pekin’s sales tax disbursements received from the state in December were 12.5% less than December of 2012.  December disbursements typically represent sales taxes collected by merchants in September and paid to the state in October.

For the 12 months ending in December, Pekin (+5.0%), East Peoria (+9.4%), and Washington (+2.5%) all received more sales tax disbursements than the 12 months ending in December of 2012.  Morton’s sales tax disbursements received from the state were down (-0.2%) for the same period.  

The number of residential units sold in Pekin in the first eleven months of the year was 3.3% greater than the sales in the first eleven months of 2012.

The average sales price of a Pekin residential unit in the first eleven months of the year was $108,956, which is down 0.2% from the average price for the same period in 2012.

The unemployment rate in Pekin rose to 10.1% in October, up from 9.8% in September and 8.2% in October of 2012.  The number of people employed in Pekin in October was 15,484—down 1,025 from a year ago.

Nationally, the unemployment rate declined from 7.3 percent to 7.0 percent in November, and total nonfarm payroll employment rose by 203,000.  Employment increased in transportation and warehousing, health care, and manufacturing.

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in November on a seasonally adjusted basis.  Over the last 12 months, the all items index increased 1.2 percent before seasonal adjustment.

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

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