Significant Gains Seen in Sales Price, Realtor Sales, Home Furnishings, Household Appliances
Tallahassee, FL – The Tallahassee Economic Index (TEI), the city’s top economic growth indicator, today released numbers ending February 2016 which show a boost in economic activity, especially in the labor market.
“After three consecutive monthly declines, the TEI rebounded sharply in February. The most forward looking indicator for employment, Initial Claims for Reemployment Assistance, hit a 15-year low displaying tremendous strength in the local job market,” said TEI Founder Brett F. Ewing. “Also worth noting, airport traffic finally saw a respite from five straight months of decline, jumping over nine percent.”
Overall the index rose 7.73 points to 54.94, which follows a 1.58 point decrease in January and a 13.54 point drop in December.
“After falling but showing blips of promise in January, the TEI posted a solid month of meaningful growth” said Lance Mitchell, Director of Research at the TEI. “Leon County residents continue to invest heavily into real estate as Sales Price, Realtor Sales, Home Furnishings and Household Appliances all saw nice gains on a year-over-year basis.”