Monday, July 21, 2014

July Biz Barometer

Pekin's sales tax receipts lagged behind the regional trend in June.  But employment numbers showed improvement in Pekin. 

L Pekin's July sales tax disbursement from the state was down 3.6% compared to the same month a year ago.  The 3-month running average was down 10.4% and the 12-month running average was down 9.6% compared to the same periods one year ago.

J Two of the other four large Tazewell County communities showed growth in their July disbursements from the state, compared to a year ago.  East Peoria was up 19.9% and Washington was up 5.6%.  Morton was down 3.2%.

J July sales tax disbursements for the four large Tazewell County communities as a whole, were up 6.0% compared to July of 2013.  That is a positive trend:  the 3 month running average is up 4.3% and the 12-month running average is up 2.3% compared to the same periods one year ago.
 
J The unemployment rate in Pekin fell to 7.5% in May.  That is the lowest unemployment rate in Pekin since December of 2008.  The unemployment rate in Tazewell County dropped to 6.6%, the lowest rate in two years.   
 
J Only 1,263 Pekin residents were reported as unemployed in May.  That is the lowest number since October of 2008. 
 
J Total non farm payroll employment increased by 288,000 in June and the U.S. unemployment rate fell to 6.1%.  Job gains were widespread, led by employment growth in professional and business services, retail trade, food services and drinking places, and health care.
 
J The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in May on a seasonally adjusted basis. Over the last 12 months, the all items index increased 2.1 percent before seasonal adjustment.

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