Biz Barometer

L The number of homes sold in Pekin in the first two months of 2014 is down 22.8% compared to the previous year.  The trend is the same in the other large Tazewell County communities:  Morton –13.8%, Washington –20.0%, and East Peoria 28.2%.
L The average sales price of Pekin home sales in the first two months of 2014 was $97,854.  That is down 8.8% from the same period last year. 
J The average sales price of residential units in the other large Tazewell Communities was up for the first two months of 2014, compared to the previous year:  East Peoria +3.5%, Morton +35.8%, and Washington 64.8%.
J The unemployment rate in Pekin was 10.8% in January, down from 10.9% in December and 11.4% last January.
L Only 14,953 people were employed in Pekin.  That is the smallest number since January of 2010.
L The unemployment rate in Illinois was 10.2% in January, up from 8.6% in December and 10.1% last January.
K Total U.S. nonfarm payroll employment increased by 175,000 in February, and the unemployment rate was little changed at 6.7 percent. Employment increased in professional and business services and in wholesale trade but declined in information.
L Pekin’s March sales tax disbursement from the state was down 14.0% compared to a year ago.   Pekin’s sales tax disbursement for the past 12 months was 2.7% less than the previous 12 month period.
J East Peoria’s sales tax disbursement from the state for the past 12 months is 11.7% greater than the previous 12 months, while Washington (1.9%) and Morton (1.0%) are also up compared to the 12 month period.
K The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in February on a seasonally adjusted basis.  Over the last 12 months,  the all items index increased 1.1 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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