VS259601 Economic Reporter Vol11No2
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SOUTHEASTERN LOUISIANA UNIVERSITY Economic Reporter Promoting Economic Development in Southeast Louisiana Summer 2015 NATIONAL U.S. Economy STATE Louisiana Economy REGIONAL Employment Retail Sales Building Permits Trends in the Northshore Housing Market by Parish LOCAL Livingston St. Helena Vol. 11 · No. 2 NATIONAL U.S. Economy Dr. A. M. M. Jamal Professor of Marketing and Supply Chain Management Southeastern Louisiana University U. S. real declined gross at a 0.2 domestic product percent annual rate A survey of professional economists by the Federal Reserve Bank of during the first quarter of 2015 and was Philadelphia 2.9 percent higher than in the first economy to grow 2.4, 2.8, 2.8, and quarter of 2.5 percent in 2015, 2016, 2017, and 2014. Total civilian employment for the first quarter of 2015 rose 2.0 percent compared to the corresponding period of the previous year while the workforce projects the U.S. 2018, respectively. An alternative set of forecasts by Wells Fargo Bank indicates gains of 1.9 percent and 2.9 percent for 2015 and 2016. St. Tammany rose Tangipahoa unemployment rate to drop from 6.6 million in 1Q2015, up from 2.80 Washington percent to 5.6 percent. million in 1Q2014, an increase of 4.7 SOUTHEASTERN Gnarly Barley: Southeastern 0.8 percent. Business helped the U.S. housing starts totaled 2.93 percent. EMPLOYMENT (Seasonally Adjusted) UNITED STATES (Numbers in Thousands) Alumni Brew a Successful Local This Labor Force % Change vs Prior Year Total Employment % Change vs Prior Year Total Nonfarm Emp. Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 155,420 155,629 155,700 156,048 156,018 155,845 156,243 156,402 156,129 157,180 157,002 156,906 0.0% 145,724 1.4% 138,385 0.0% 145,868 1.4% 138,621 0.0% 146,247 1.5% 138,907 0.3% 146,401 1.5% 139,156 0.3% 146,451 1.5% 139,369 0.2% 146,607 1.6% 139,619 1.1% 147,260 2.7% 139,840 0.7% 147,331 0.7% 147,442 2.0% 140,263 1.9% 140,592 1.1% 148,201 2.1% 140,793 0.8% 148,297 2.1% 141,059 0.5% 148,331 1.7% 141,144 % Change vs Prior Year 1.8% 1.8% 1.9% 2.0% 2.0% 2.0% 2.0% 2.1% 2.3% 2.3% 2.3% Unemployment Rate 6.2% 6.3% 6.1% 6.2% 6.1% 5.9% 5.7% 5.8% 5.6% 5.7% 5.5% 5.5% Southeastern Louisiana University % Change vs Prior Year -1.3% -1.2% -1.5% -1.1% -1.1% -1.3% -1.5% -1.2% -1.1% -0.9% -1.1% -1.2% Business Research Ctr. 1514 Martens Drive Hammond, LA 70401 Labor Force Phone: (985) 549-3199 Total Employment Fax: (985) 549-2127 brc@southeastern.edu % Change vs Prior Year CONTACT US % Change vs Prior Year 2QT-14 3QT-14 4QT-14 155,583 155,970 156,258 1QT-15 157,029 155,000 0.0% 0.3% 0.8% 0.8% 145,946 146,486 147,344 148,276 1.5% 1.5% 2.2% 2.0% 139,381 140,232 140,999 % Change vs Prior Year 1.9% 2.0% 2.1% Unemployment Rate 6.2% 6.1% 5.7% 2.3% 140,000 5.6% % Change vs Prior Year -1.3% -1.2% -1.3% -1.1% Source: U.S. Bureau of Labor Statistics Total Employment (000s) 150,000 138,638 Total Nonfarm Emp. 2.2% 145,000 Jan Feb Mar Apr May Jun 2013 Jul Aug Sep Oct Nov Dec 2014 2015 Economic Reporter STATE Louisiana Economy Dr. A. M. M. Jamal Professor of Marketing and Supply Chain Management Total state employment for the first quarter of Seasonally-adjusted state personal income in- 2015 rose 0.8 percent from the previous quarter creased 0.8 percent ($1.5 billion) in the first and was 2.7 percent higher than for the first quarter of 2015, ranking 35th in the nation. quarter of 2014. Net earnings were up $543 million, dividends, The unemployment rate for the first quarter of interest and rents increased $181 million, and 2015 was 6.8 percent, compared to 5.5 percent in personal transfer receipts increased by $822 mil- 1Q2014. The state unemployment rate was above lion. the 5.6 percent national rate primarily because the Louisiana labor force grew faster Industries contributing the most quarter-over- than quarter growth in earnings from 4Q2014 to employment. 1Q2015 were ““Health Care and Social Assis- Sales tax collections for the first quarter of 2015 tance” (+$177 million), “Professional, Scientific, fell 12.4 percent compared to the prior quarter, & but were 3.5 percent higher than for the first “Farm” (+ $133 million). quarter of 2014. (On a year-over-year basis, the Technical Services” (+$161 million), and Earnings from “Mining” (which includes oil and increase is a continuation of the trend observed gas) declined by $357 million from 4Q2014 to during recent quarters.) 1Q2015. EMPLOYMENT (Seasonally Adjusted) LOUISIANA (Numbers in Thousands) Labor Force Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 2,127 2,137 2,148 2,159 2,171 2,181 2,189 2,196 2,201 2,203 2,202 2,205 % Change vs Prior Year 1.2% 1.7% 2.2% 2.7% 3.2% 3.6% 4.0% 4.2% 4.4% 4.4% 4.1% 4.0% Total Employment 2,007 2,011 2,015 2,020 2,026 2,031 2,035 2,038 2,041 2,050 2,054 2,060 % Change vs Prior Year 2.6% 2.6% 2.7% 2.8% 2.9% 2.9% 2.8% 2.7% 2.5% 2.7% 2.7% 2.8% Total Nonfarm Emp. 1,972 1,978 1,981 1,982 1,985 1,988 1,992 1,994 1,997 1,989 1,987 1,984 % Change vs Prior Year 1.2% 1.5% 1.4% 1.5% 1.5% 1.5% 1.5% 1.4% 1.8% 1.3% 1.0% 0.7% Unemployment Rate 5.7% 5.9% 6.2% 6.4% 6.7% 6.9% 7.0% 7.2% 7.2% 7.0% 6.7% 6.6% % Change vs Prior Year -1.2% -0.9% -0.5% -0.1% 0.3% 0.7% 1.1% 1.4% 1.7% 1.5% 1.3% 1.1% 2QT-14 3QT-14 4QT-14 1QT-15 Labor Force 2,137 2,170 2,195 2,204 % Change vs Prior Year 1.7% 3.2% 4.2% 4.2% Total Employment 2,011 2,026 2,038 2,054 % Change vs Prior Year 2.6% 2.8% 2.7% 2.7% Total Nonfarm Emp. 1,977 1,985 1,994 1,987 1800 % Change vs Prior Year 1.3% 1.5% 1.6% 1.0% 1700 Unemployment Rate 5.9% 6.7% 7.1% 6.8% % Change vs Prior Year -0.9% 0.3% -0.9% 1.3% Total Employment (000s) Total Employment 2,100 2100 2000 1900 2,000 1,900 Jan Feb Mar Apr May 20 05 Source: Louisiana Department of Labor, Labor Market Statistics Southeastern Louisiana University Jun Jan Feb Mar Apr May Jun 2013 Jul Aug Sep Jul Aug Sep 20 06 2014 20 07 Oct Nov Dec Oct Nov Dec 2015 2 Economic Reporter REGIONAL Northshore Employment Dr. A. M. M. Jamal Professor of Marketing and Supply Chain Management Southeastern Louisiana University Total employment (Livingston, in St. the Northshore Tammany, 2015 was 6.2 percent, compared to 6.4 percent in the previous quarter and 5.4 percent during the percent first quarter of 2014. in St. The unemployment rate for the first quarter of Tangipahoa, and Washington parishes) was 0.4 lower Helena, Region 1Q2015 compared to the previous quarter, but rose 3.1 percent (+7,358 (Note: jobs) compared to the first quarter of 2014. All regional and parish employment analyses are based on unadjusted employment The total civilian work force in 1Q2015 was 0.5 data. Seasonally-adjusted data are not available percent lower than the previous quarter but 4.0 at the parish level.) percent higher than in the first quarter of 2014. EMPLOYMENT (Not seasonally adjusted) NORTHSHORE REGION Labor Force Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 252,452 253,833 257,996 259,161 258,622 259,055 261,379 260,630 259,601 259,119 257,766 261,040 % Change vs Prior Year 1.5% 1.5% 1.5% 2.8% 3.2% 3.8% 4.5% 4.2% 5.1% 4.8% 3.7% 3.6% 239,986 239,361 240,953 241,294 240,494 242,063 244,569 244,082 243,798 241,705 242,520 245,264 % Change vs Prior Year 2.8% 2.6% 2.8% 3.0% 2.9% 3.2% 3.9% 2.8% 3.6% 3.7% 2.8% 2.9% Unemployment Rate 4.9% 5.7% 6.6% 6.9% 7.0% 6.6% 6.4% 6.5% 6.3% 6.7% 5.9% 6.0% -1.2% -1.0% -1.2% -0.2% 0.3% 0.5% 0.6% 1.3% 1.4% 1.0% 0.9% 0.6% 2QT-14 3QT-14 4QT-14 1QT-15 254,760 258,946 260,537 259,308 1.5% 3.2% 4.6% 4.0% 240,100 241,284 244,150 243,163 2.7% 3.0% 3.4% 3.1% 5.8% 6.8% 6.4% 6.2% -1.1% 0.2% 1.1% 0.8% Total Employment % Change vs Prior Year Labor Force % Change vs Prior Year Total Employment % Change vs Prior Year Unemployment Rate % Change vs Prior Year Total Employment 250,000 240,000 230,000 220,000 1 2 3 4 5 2013 Source: Labor Market Statistics, Local Area Unemployment Statistics Program 6 7 2014 8 9 10 11 12 2015 WEEKLY UNEMPLOYMENT INSURANCE (UI) CLAIMS Northshore Region Week Date 1 1/3/15 135 1,837 Initial UI Claims Weeks Claimed 2 1/10/15 314 1,889 3 1/17/15 266 1,916 4 1/24/15 232 1,878 5 1/31/15 213 1,844 6 2/7/15 262 1,828 7 2/14/15 172 1,837 8 2/21/15 165 1,810 9 2/28/15 230 1,804 10 3/7/15 230 1,831 11 3/14/15 192 1,730 12 3/21/15 233 1,780 13 3/28/15 199 1,771 Weekly WeeklyInitial InitialUnemployment UnemploymentInsurance InsuranceClaims Claims 1,400 500 1,200 400 1,000 300 800 600 200 400 100 200 00 2013 2012 2014 2013 2015 2014 127 228 329 430 531 6 32 7 33 Week Week 8 34 9 35 10 36 11 37 12 38 13 39 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Southeastern Louisiana University 3 Economic Reporter Estimated Retail Sales in the Northshore Region The 1Q2015 value of retail sales for the region fell All the parishes in the Northshore region except 7.7 percent from the previous quarter but was 6.0 St. Helena saw year-over-year gains in sales percent higher than for the first quarter of 2014. compared to the first quarter of 2014. ESTIMATED RETAIL SALES NORTHSHORE REGION Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 $690.79 $695.31 $740.38 $686.65 $667.66 $713.92 $699.59 $690.91 $861.73 $654.39 $651.13 $772.45 -6.3% 0.7% 6.5% -7.3% -2.8% 6.9% -2.0% -1.2% 24.7% -24.1% -0.5% 18.6% 5.0% 5.5% 5.9% 8.2% 3.7% 6.5% 6.8% 8.7% 10.6% 6.7% 6.9% 4.8% 2QT-14 $708.83 8.5% 5.5% Quarterly Avg. Sales (mil.) % Change vs. Prior Quarter % Change vs Prior Year 3QT-14 $689.41 -2.7% 6.1% 4QT-14 $750.74 8.9% 8.8% 1QT-15 $692.66 -7.7% 6.0% Estimated Retail Sales Millions Estimated Retail Sales (mil.) % Change vs Prior Month % Change vs. Prior Year $900 $800 Sources: Livingston Parish School Board - Sales and Use Tax Division St. Helena Parish Sheriff's Office 2013 $700 2014 $600 2015 $500 St. Tammany Parish Sales and Use Tax Department Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tangipahoa Parish School Board - Sales and Use Tax Division Washington Parish Sheriff's Office - Sales and Use Tax Department Residential Building Permits in the Northshore Region Building permits for residential units in the the number of permits issued, Tangipahoa and Northshore region for 1Q2015 rose 26.0 percent Washington reported declines, and St. Helena was over the prior quarter and were 16.9 percent unchanged. higher than in the first quarter of 2014, reflecting It should be noted that the number of units in an encouraging outlook for construction in the unincorporated St. Tammany Parish and all of region overall. Washington On a year-over-year basis, Livingston and St. Parish are based on data (or estimates) provided by the U.S. Census Bureau. Tammany parishes showed strong increases in RESIDENTIAL BUILDING PERMITS NORTHSHORE REGION Apr 14 Total Permits % Change vs Prior Year Total Units % Change vs Prior Year May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 292 252 220 242 230 211 218 160 195 191 245 295 -2.0% -9.7% -14.7% -18.0% -18.1% -9.4% -13.1% -17.1% 30.9% 18.6% 1.2% 33.5% 292 259 220 244 245 211 220 162 199 191 245 296 -5.5% -10.4% -17.0% -19.5% -12.8% -13.9% -21.1% -19.8% 22.1% 18.6% 0.4% 33.9% Residential Building Permits: Number of Units 2QT-14 Total Permits % Change vs Prior Year Total Units % Change vs Prior Year 3QT-14 4QT-14 1QT-15 400 764 683 573 731 -8.5% -15.6% -3.4% 17.1% 771 700 581 732 200 -10.7% -15.6% -9.8% 16.9% 100 Sources: Livingston Parish -- Livingston Parish Permit Office, Tow n of Albany, City of Denham Springs, Tow n of Livingston, 300 2013 2012 2014 2013 2014 2015 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tow n of Walker, http://censtats.census.gov St. Helena Parish -- St. Helena Parish Permit Office and http://censtats.census.gov (estimates w ith imputation) St. Tammany Parish -- St. Tammany Parish Permit Office, Tow n of Abita Springs, Village of Folsom, Tow n of Tangipahoa Parish -- Tangipahoa Parish Permit Office, City of Hammond, City of Ponchatoula, http://censtats.census.gov Washington Parish -- http://censtats.census.gov Madisonville, City of Mandeville, Tow n of Pearl River, City of Slidell, http://censtats.census.gov Southeastern Louisiana University 4 Economic Reporter Trends in the Northshore Housing Market by Parish Herb Holloway Research Economist Number of Homes Sold by Month by Parish: Jan 2014 ‐ Mar 2015 250 200 Livingston 150 East St.Tammany West St. Tammany 100 Tangipahoa Washington 50 0 Jan‐14 Feb‐14 Mar‐14 Apr‐14 May‐14 Jun‐14 Jul‐14 Aug‐14 Sep‐14 Oct‐14 Nov‐14 Dec‐14 Jan‐15 Feb‐15 Mar‐15 Sources: Livingston Parish data courtesy of Greater Baton Rouge Area Realtors (GBRAR) Other parishes based on information from the Gulf South Real Estate Information Network, Inc. for the period 01/2014 through 03/2015. Median Selling Prices by Month by Parish: Jan 2014 ‐ Mar 2015 $300,000 $250,000 $200,000 Livingston East St. Tammany $150,000 West St. Tammany $100,000 Tangipahoa Washington $50,000 $‐ Sources: Livingston Parish data courtesy of Greater Baton Rouge Area Realtors (GBRAR) Other parishes based on information from the Gulf South Real Estate Information Network, Inc. for the period 01/2014 through 03/2015. Average Days on Market by Month by Parish: Jan 2014 ‐ Mar 2015 180 160 140 120 Livingston 100 East St.Tammany West St. Tammany 80 Tangipahoa 60 Washington 40 20 0 Jan‐14 Feb‐14 Mar‐14 Apr‐14 May‐14 Jun‐14 Jul‐14 Aug‐14 Sep‐14 Oct‐14 Nov‐14 Dec‐14 Jan‐15 Feb‐15 Mar‐15 Sources: Livingston Parish data courtesy of Greater Baton Rouge Area Realtors (GBRAR) Other parishes based on information from the Gulf South Real Estate Information Network, Inc. for the period 01/2014 through 03/2015. Southeastern Louisiana University 5 Economic Reporter LOCAL Livingston Parish Livingston Parish employment in 1Q2015 fell 0.7 gion. The number of building permits for residen- percent from the prior quarter but grew 4.3 per- tial units rose 47.4 percent from the previous cent compared to the first quarter of 2014. quarter and was 26.1 percent higher than the first quarter of 2014, based on data provided by local The unemployment rate of 5.4 percent was lower officials and the U.S. Census Bureau. than the 5.7 percent in the prior quarter but higher than the 4.8 percent of 1Q2014. Livingston Parish residents purchased 1,299 new cars and light trucks in 1Q2015, including 132 The value of taxable sales rose 9.7 percent com- from dealers within Livingston Parish. Parish pared to the first quarter of 2014, a larger in- dealers also sold 70 new vehicles to residents of crease than the 6.0 percent average for the re- other parishes within Louisiana. EMPLOYMENT LIVINGSTON PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 65,133 66,019 66,864 67,514 67,420 67,797 68,420 68,365 67,355 67,090 66,941 67,910 1.7% 2.5% 2.4% 3.5% 4.3% 4.6% 5.3% 5.4% 5.6% 5.7% 4.7% 4.7% 62,281 62,596 62,786 63,278 63,128 63,794 64,391 64,365 63,647 63,131 63,503 64,337 % Change vs Prior Year 3.0% 3.6% 3.4% 3.6% 3.9% 4.1% 4.6% 4.2% 4.5% 4.9% 4.0% 4.2% Unemployment Rate 4.4% 5.2% 6.1% 6.3% 6.4% 5.9% 5.9% 5.9% 5.5% 5.9% 5.1% 5.3% % Change vs Prior Year -1.3% -1.0% -1.0% -0.1% 0.3% 0.5% 0.6% 1.1% 1.1% 0.7% 0.7% 0.4% 2QT-14 3QT-14 4QT-14 1QT-15 66,005 67,577 68,047 67,314 2.2% 4.2% 5.5% 5.0% 65,000 60,000 Labor Force % Change vs Prior Year Total Employment Labor Force % Change vs Prior Year Total Employment 62,554 63,400 64,134 63,657 % Change vs Prior Year 3.3% 3.9% 4.4% 4.3% Unemployment Rate 5.2% 6.2% 5.7% 5.4% % Change vs Prior Year -1.1% 0.2% 0.9% 0.6% Total Employment 70,000 55,000 1 2 3 4 5 6 7 2013 Source: Labor Market Statistics, Local Area Unemployment Statistics Program 8 9 2014 10 11 12 2015 WEEKLY UNEMPLOYMENT INSURANCE (UI) CLAIMS LIVINGSTON PARISH Week Date 1 2 3 4 5 6 7 8 9 10 11 12 13 1/3/15 1/10/15 1/17/15 1/24/15 1/31/15 2/7/15 2/14/15 2/21/15 2/28/15 3/7/15 3/14/15 3/21/15 3/28/15 Initial UI Claims 23 80 57 50 45 46 32 36 49 57 49 43 45 Weeks Claimed 353 367 381 367 364 362 356 348 342 351 348 364 351 Weekly Initial Unemployment Insurance Claims 120 100 80 2013 60 2014 40 2015 20 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Week Source: Labor Market Statistics, Local Area Unemployment Statistics Program Southeastern Louisiana University 6 Economic Reporter Livingston Parish—continued ESTIMATED RETAIL SALES LIVINGSTON PARISH Estimated Retail Sales (mil.) Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 $126.10 $130.14 $136.68 $131.23 $128.57 $134.81 $130.47 $127.07 $152.82 $120.08 $120.33 $143.12 -7.2% 3.2% 5.0% -4.0% -2.0% 4.9% -3.2% -2.6% 20.3% -21.4% 0.2% 18.9% % Change vs. Prior Year 1.8% 10.4% 8.5% 4.2% 9.3% 11.8% 7.9% 12.5% 14.4% 14.1% 10.9% 5.3% 2QT-14 $130.97 12.4% 6.9% 3QT-14 $131.54 0.4% 8.4% 4QT-14 $136.79 4.0% 11.7% 1QT-15 $127.85 -6.5% 9.7% Quarterly Avg. Sales (mil.) % Change vs. Prior Quarter % Change vs Prior Year Millions % Change vs Prior Month Estimated Retail Sales $160 2013 $140 2014 $120 2015 $100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: Livingston Parish School Board - Sales and Use Tax Division RESIDENTIAL BUILDING PERMITS LIVINGSTON PARISH Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 61 -40.2% 61 -46.0% 63 -42.2% 63 -47.1% 61 -36.5% 61 -40.8% 64 -37.3% 64 -41.8% 60 13.2% 60 13.2% 60 -34.1% 60 -41.7% 56 -15.2% 56 -15.2% 48 -35.1% 48 -42.2% 50 117.4% 50 117.4% 42 -30.0% 42 -30.0% 93 55.0% 93 55.0% 92 53.3% 92 53.3% 2QT-14 3QT-14 4QT-14 1QT-15 150 185 -39.7% 185 -44.8% 184 -25.2% 184 -30.8% 154 -5.5% 154 -10.5% 227 26.1% 227 26.1% 100 Residential Building Permits: Number of Units 2013 2014 50 2015 Sources: Tow n of Albany, City of Denham Springs, Tow n of Livingston, 0 Livingston Parish Permit Office, http://censtats.census.gov Jan Feb Mar Apr May Jun (Note: City of Walker permits estimated for 3Q2014) Jul Aug Sep Oct Nov Dec New Light Vehicle Purchases & Sales LIVINGSTON PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 New Car/Truck Purchases Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 444 Feb 15 Mar 15 516 339 % Change vs Prior Year n/a n/a n/a Purchases within Parish 39 54 39 New Car/Truck Sales* 61 79 62 % Change vs Prior Year n/a n/a n/a 2QT-14 3QT-14 4QT-14 1QT-15 New Car/Truck Purchases % Change vs Prior Year 1,299 n/a Purchases within Parish 132 New Car/Truck Sales* 202 % Change vs Prior Year n/a Source: Louisiana Dept. of Public Safety (compiled by Dominion Cross-Sell) * = Includes only new vehicle sales within Louisiana Southeastern Louisiana University Car/Truck Purchases & Sales: Number of Units 600 500 400 2015 Purchases 300 2015 Sales 200 100 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 7 Economic Reporter St. Helena Parish Employment in St. Helena Parish in the first the 6.0 percent average increase for the region. quarter of 2015 rose 4.4 percent (+183 jobs) Building permits for residential units fell 37.5 per- compared to the same quarter of the previous cent from the previous quarter but were un- year. The labor force grew 5.3 percent, causing changed compared to 1Q2014. the unemployment rate to rise to 9.7 percent Residents of St. Helena Parish purchased 39 new from the 9.0 percent of a year ago. cars and light trucks in the first quarter of 2015. The value of taxable sales fell 5.5 percent compared to the first quarter of 2014, in contrast to EMPLOYMENT ST. HELENA PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Labor Force 4,548 4,624 4,758 4,818 4,795 4,808 4,792 4,786 4,780 4,746 4,712 4,775 % Change vs Prior Year -7.9% -8.2% -10.4% -9.7% -8.8% -7.5% -6.2% -5.5% -5.2% 6.0% 4.7% -4.8% Total Employment 4,180 4,200 4,222 4,270 4,256 4,299 4,326 4,324 4,284 4,248 4,274 4,326 % Change vs Prior Year 3.1% 3.3% 3.4% 3.6% 3.9% 4.2% 4.6% 4.3% 4.6% 5.0% 4.0% 4.4% Unemployment Rate 8.1% 9.2% 11.3% 11.4% 11.2% 10.6% 9.7% 9.7% 10.4% 10.5% 9.3% 9.4% % Change vs Prior Year -2.6% -2.0% -2.1% -1.4% -0.9% -0.7% -0.6% 0.3% 1.0% 0.9% 0.6% 0.6% 2QT-14 3QT-14 4QT-14 1QT-15 4,500 Labor Force 4,643 4,807 4,786 4,744 % Change vs Prior Year 0.7% 2.7% 4.8% 5.3% Total Employment 4,201 4,275 4,311 4,283 % Change vs Prior Year 3.3% 3.9% 4.5% 4.4% Unemployment Rate 9.5% 11.1% 9.9% 9.7% % Change vs Prior Year -2.2% -1.0% 0.3% 0.7% Total Employment 4,250 4,000 3,750 Jan Feb Mar Apr May Jun 2013 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Jul Aug Sep 2014 Oct Nov Dec 2015 WEEKLY UNEMPLOYMENT INSURANCE (UI) CLAIMS ST. HELENA PARISH 1 1/3/15 3 29 Week Date Initial UI Claims Weeks Claimed 2 1/10/15 6 30 3 1/17/15 4 30 4 1/24/15 4 33 5 1/31/15 1 35 6 2/7/15 5 35 7 2/14/15 1 37 8 2/21/15 1 35 9 2/28/15 3 30 10 3/7/15 8 36 11 3/14/15 2 34 12 3/21/15 5 36 13 3/28/15 4 30 Weekly Initial Unemployment Insurance Claims 20 12 10 15 8 2013 2012 2014 2013 2015 2014 106 4 5 2 0 14 40 1 15 41 2 16 42 3 17 43 4 18 44 5 19 45 6 20 46 7 Week 21 47 8 22 48 9 23 49 10 24 50 11 25 51 12 26 52 13 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Southeastern Louisiana University 8 Economic Reporter St. Helena Parish—continued ESTIMATED RETAIL SALES ST. HELENA PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 $7.37 $5.97 $4.90 $6.12 $5.88 $7.01 $6.76 $5.68 $8.20 $5.66 $4.90 $6.74 -4.7% -19.1% -17.9% 24.9% -3.9% 19.2% -3.6% -16.0% 44.5% -31.0% -13.5% 37.6% 15.8% 0.6% -21.1% 12.7% 4.0% 3.1% 8.3% 36.2% -6.9% 2.9% -3.3% -12.9% 2QT-14 $6.08 -0.3% -1.5% Quarterly Avg. Sales (mil.) % Change vs. Prior Quarter % Change vs Prior Year 3QT-14 $6.34 4.3% 6.3% 4QT-14 $6.88 8.5% 7.4% 1QT-15 $5.76 -16.2% -5.5% Millions Estimated Retail Sales (mil.) % Change vs Prior Month % Change vs. Prior Year Estimated Retail Sales $10 2013 $5 2014 2015 $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: St. Helena Parish Sheriff's Office RESIDENTIAL BUILDING PERMITS ST. HELENA PARISH Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 1 1 5 5 2 4 4 1 3 2 1 Mar 15 2 0.0% -50.0% 150.0% 400.0% 100.0% 100.0% 0.0% -50.0% 0.0% 0.0% 0.0% 0.0% 1 1 5 5 2 4 4 1 3 2 1 2 0.0% -50.0% 150.0% 400.0% 100.0% 100.0% 0.0% -50.0% 0.0% 0.0% 0.0% 0.0% Residential Building Permits: Number of Units 2QT-14 3QT-14 Total Permits % Change vs Prior Year Total Units % Change vs Prior Year 4QT-14 1QT-15 7 11 8 5 75.0% 175.0% 33.3% 0.0% 7 11 8 5 75.0% 175.0% 33.3% 0.0% Sources: 2008-2010 - http://censtats.census.gov (estimates w ith imputation) 6 5 4 3 2 1 0 2013 2014 2015 Jan Feb Mar Apr May Jun 2011-2015 - St. Helena Parish Police Jury: Building Permit Department Jul Aug Sep Oct Nov Dec New Light Vehicle Purchases & Sales ST. HELENA PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 New Car/Truck Purchases 10 11 18 % Change vs Prior Year n/a n/a n/a Purchases within Parish 0 0 0 New Car/Truck Sales* 0 0 0 % Change vs Prior Year n/a n/a n/a 2QT-14 3QT-14 4QT-14 1QT-15 New Car/Truck Purchases 39 % Change vs Prior Year n/a Purchases within Parish 0 New Car/Truck Sales* 0 % Change vs Prior Year n/a Source: Louisiana Dept. of Public Safety (compiled by Dominion Cross-Sell) * = Includes only new vehicle sales within Louisiana Southeastern Louisiana University Car/Truck Purchases: Number of Units 20 15 2015 Purchases 10 5 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 9 Economic Reporter St. Tammany Parish Total employment in St. Tammany Parish in the Building permits for residential units rose 44.5 first quarter of 2015 increased 2.1 percent com- percent over the previous quarter and 27.3 per- pared to 1Q2014, somewhat below the average cent compared to the first quarter of 2014, re- gain for the region (3.1 percent). flecting a very optimistic outlook for construction The labor force increased by 3.1 percent and the activities in the parish. unemployment rate rose to 5.7 percent from St. Tammany Parish residents purchased 2,862 4.8 percent in 1Q2014. new cars and light trucks in 1Q2015. St. Tamma- The value of taxable retail sales in 1Q2015 rose ny Parish dealers sold a total of 2,592 new cars and light trucks within Louisiana — 1,686 to par- 4.9 percent compared to the first quarter of ish residents and 906 to residents of other parish- 2014, short of the 6.0 percent average gain for es. Data was not available for out-of-state sales. the region. EMPLOYMENT ST. TAMMANY PARISH Labor Force Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 112,844 114,120 116,347 116,563 115,851 115,295 117,022 116,705 115,413 115,237 114,387 115,795 % Change vs Prior Year Total Employment 1.9% 107,808 2.5% 108,013 2.7% 109,177 3.6% 109,087 3.5% 108,144 3.8% 108,109 4.4% 109,794 3.7% 109,544 3.6% 108,860 4.1% 108,142 2.7% 108,148 2.6% 109,330 % Change vs Prior Year 3.1% 3.5% 3.7% 3.6% 2.9% 2.9% 3.5% 2.2% 2.1% 2.9% 1.7% 1.9% Unemployment Rate 4.5% 5.4% 6.2% 6.4% 6.7% 6.2% 6.2% 6.1% 5.7% 6.2% 5.5% 5.6% % Change vs Prior Year -1.1% -0.9% -0.9% 0.0% 0.6% 0.8% 0.8% 1.4% 1.4% 1.1% 0.9% 0.7% 2QT-14 3QT-14 4QT-14 1QT-15 114,437 115,903 116,380 115,140 2.4% 3.6% 3.9% 3.1% 110,000 105,000 Labor Force % Change vs Prior Year Total Employment 108,333 108,447 109,399 108,540 % Change vs Prior Year 3.4% 3.1% 2.6% 2.1% Unemployment Rate 5.3% 6.4% 6.0% 5.7% % Change vs Prior Year -1.0% 0.5% 1.2% 0.9% Total Employment 115,000 100,000 Jan Feb Mar Apr May 2013 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Jun Jul Aug 2014 Sep Oct Nov Dec 2015 WEEKLY UNEMPLOYMENT INSURANCE (UI) CLAIMS ST. TAMMANY PARISH 1 1/3/15 50 648 Week Date Initial UI Claims Weeks Claimed 2 1/10/15 116 682 3 1/17/15 102 680 4 1/24/15 78 672 5 1/31/15 86 676 6 2/7/15 112 678 7 2/14/15 67 700 8 2/21/15 63 703 9 2/28/15 92 699 10 3/7/15 76 712 11 3/14/15 63 655 12 3/21/15 96 669 13 3/28/15 70 677 Weekly Initial Unemployment Insurance Claims 140 200 120 150 100 80 100 60 40 50 20 0 2013 2012 2014 2013 2015 2014 40 1 41 2 42 3 43 4 44 5 45 6 46 7 Week 47 8 48 9 49 10 50 11 51 12 52 13 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Southeastern Louisiana University 10 Economic Reporter St. Tammany Parish—continued ESTIMATED RETAIL SALES ST. TAMMANY PARISH Estimated Retail Sales (mil.) % Change vs Prior Month % Change vs. Prior Year Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 $359.33 $366.16 $379.57 $357.56 $350.30 $373.10 $367.61 $357.93 $459.13 $334.55 $331.54 $399.22 -6.1% 1.9% 3.7% -5.8% -2.0% 6.5% -1.5% -2.6% 28.3% -27.1% -0.9% 20.4% 5.5% 3.9% 2.7% 5.5% 4.3% 4.9% 7.6% 4.1% 8.0% 6.9% 3.5% 4.3% Quarterly Avg. Sales (mil.) % Change vs. Prior Quarter % Change vs Prior Year 2QT-14 3QT-14 $368.35 $360.32 8.8% -2.2% 4.0% 4.9% 1QT-15 $355.10 -10.1% 4.9% Millions 4QT-14 $394.89 9.6% 6.7% Estimated Retail Sales $500 $550 $450 $450 $400 $350 $350 2012 2013 2013 2014 2014 2015 $250 $300 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: St. Tammany Sales and Use Tax Department RESIDENTIAL BUILDING PERMITS ST. TAMMANY PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 160 32.2% 160 32.2% 128 30.6% 128 30.6% 103 1.0% 103 1.0% 114 0.0% 114 0.0% 109 -19.3% 110 -18.5% 94 5.6% 94 5.6% 93 -18.4% 93 -18.4% 71 -16.5% 71 -16.5% 90 18.4% 90 18.4% 106 60.6% 106 60.6% 123 -4.7% 123 -4.7% 139 47.9% 138 46.8% 2QT-14 3QT-14 4QT-14 1QT-15 200 391 21.8% 391 21.8% 317 -6.2% 318 -5.9% 254 -7.6% 254 -7.6% 368 27.3% 367 27.0% 150 2013 100 2014 50 2015 Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Sources: St. Tammany Parish Permit Office, Town of Abita Springs, Village of Folsom, Tow n of Madisonville, City of Mandeville, Tow n of Pearl River, City of Slidell, http://censtats.census.gov (some data estimated) Residential Building Permits: Number of Units 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec New Light Vehicle Purchases & Sales ST. TAMMANY PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 New Car/Truck Purchases Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 1,093 938 n/a n/a n/a 659 555 472 New Car/Truck Sales* 1,019 863 710 % Change vs Prior Year n/a n/a n/a % Change vs Prior Year Purchases within Parish 831 Car/Truck Purchases & Sales: Number of Units 2QT-14 3QT-14 4QT-14 1QT-15 New Car/Truck Purchases 2,862 % Change vs Prior Year n/a Purchases within Parish 1,686 New Car/Truck Sales* 2,592 % Change vs Prior Year Source: Louisiana Dept. of Public Safety (compiled by Dominion Cross-Sell) * = Includes only new vehicle sales w ithin Louisiana Southeastern Louisiana University 1,500 1,000 2015 Purchases 2015 Sales 500 n/a 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 Economic Reporter Tangipahoa Parish Total employment in Tangipahoa Parish in the first compared to the first quarter of 2014, reflecting a quarter of 2015 grew 3.9 percent compared to the moderately depressed outlook for residential con- first quarter of 2014. The workforce rose 4.9 per- struction activities. cent, causing the unemployment rate to rise to Tangipahoa Parish residents purchased 1,183 new 7.4 percent from the 6.6 percent of a year ago. cars and light trucks in the first quarter of 2015, The value of taxable sales rose 4.0 percent com- including 616 from dealers within the parish and pared to the first quarter of the previous year, 567 from outside dealers. which was below the 6.0 percent average for the Tangipahoa Parish dealers also sold 672 vehicles region. to residents of other Louisiana parishes, for total Permitted residential units fell 12.6 percent from in-state sales of 1,288 vehicles. the previous quarter and were 8.8 percent lower EMPLOYMENT TANGIPAHOA PARISH Labor Force % Change vs Prior Year Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 52,940 52,104 52,718 53,066 53,553 53,791 53,869 53,927 55,326 54,855 54,436 55,035 0.4% Total Employment -1.9% 49,760 48,851 -2.0% 49,024 0.2% 49,078 1.7% 49,549 2.2% 49,991 3.5% 50,225 3.7% 7.2% 49,987 5.6% 51,146 50,440 4.6% 4.4% 50,593 51,069 % Change vs Prior Year 1.2% -0.7% 0.0% 0.9% 2.1% 2.3% 3.4% 2.1% 5.1% 4.5% 3.6% 3.7% Unemployment Rate 6.0% 6.2% 7.0% 7.5% 7.5% 7.1% 6.8% 7.3% 7.6% 8.0% 7.1% 7.2% % Change vs Prior Year -0.8% -1.1% -1.9% -0.6% -0.4% 0.0% 0.1% 1.4% 1.9% 1.0% 0.9% 0.7% 2QT-14 3QT-14 4QT-14 1QT-15 52,587 53,470 54,374 54,775 -1.2% 1.4% 4.8% 4.9% 50,000 48,000 Labor Force % Change vs Prior Year Total Employment 49,212 49,539 50,453 50,701 % Change vs Prior Year 0.2% 1.7% 3.5% 3.9% Unemployment Rate 6.4% 7.4% 7.2% 7.4% % Change vs Prior Year -1.3% -0.3% 1.1% 0.8% Total Employment 52,000 46,000 Jan Feb Mar Apr May 2013 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Jun Jul Aug 2014 Sep Oct Nov Dec 2015 WEEKLY UNEMPLOYMENT INSURANCE (UI) CLAIMS TANGIPAHOA PARISH Week Date 1 1/3/15 51 650 Initial UI Claims Weeks Claimed 2 1/10/15 87 652 3 1/17/15 79 663 4 1/24/15 84 634 5 1/31/15 65 617 6 2/7/15 79 591 7 2/14/15 61 587 8 2/21/15 52 566 9 2/28/15 71 573 10 3/7/15 74 576 11 3/14/15 60 554 12 3/21/15 73 564 13 3/28/15 62 570 Weekly Initial Unemployment Insurance Claims 140 120 100 80 60 40 20 0 2013 2012 2014 2013 2015 2014 40 1 41 2 42 3 43 4 44 5 45 6 46 7 Week Week 47 8 48 9 49 10 50 11 51 12 52 13 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Southeastern Louisiana University 12 Economic Reporter Tangipahoa Parish—continued ESTIMATED RETAIL SALES TANGIPAHOA PARISH 2QT-14 $160.79 4.6% 5.4% Quarterly Avg. Sales (mil.) % Change vs. Prior Quarter % Change vs Prior Year 3QT-14 $153.46 -4.6% 5.9% 4QT-14 $173.90 13.3% 14.5% Jul 14 Aug 14 Sep 14 $154.64 $149.15 $156.59 -11.1% -3.5% 5.0% 8.4% 4.0% 5.3% 1QT-15 $159.91 -8.0% 4.0% Millions Millions Apr 14 May 14 Jun 14 $155.68 $152.82 $173.88 -5.4% -1.8% 13.8% 1.9% 3.7% 10.5% Estimated Retail Sales (mil.) % Change vs Prior Month % Change vs. Prior Year Oct 14 $161.26 3.0% 9.5% Nov 14 $164.98 2.3% 16.9% Dec 14 $195.44 18.5% 16.8% Jan 15 $150.85 -22.8% -3.0% Feb 15 Mar 15 $153.53 $175.35 1.8% 14.2% 8.9% 6.5% Estimated Retail Sales $250 $250 2012 2013 2013 2014 $200 $200 $150 $150 2014 2015 $100 $100 Jan Jan Feb Feb Mar Apr May Jun Sep Oct Oct Nov Nov Dec Dec Jul Aug Sep Source: Sales Tax Division of the Tangipahoa Parish School System RESIDENTIAL BUILDING PERMITS TANGIPAHOA PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 69 1.5% 69 1.5% 53 -11.7% 60 0.0% 47 -13.0% 47 -13.0% 61 -24.6% 63 -21.7% 58 -37.9% 73 -21.8% 46 2.2% 46 2.2% 60 -4.8% 62 -31.9% 29 0.0% 31 6.9% 46 -6.1% 50 -20.6% 36 33.3% 36 33.3% 26 -48.0% 26 -50.0% 61 5.2% 63 8.6% 2QT-14 3QT-14 4QT-14 1QT-15 100 169 -7.1% 176 -3.3% 165 -17.9% 182 -9.5% 135 -4.3% 143 -21.9% 123 -8.9% 125 -8.8% 80 Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Residential Building Permits: Number of Units 60 2013 40 2014 20 2015 0 Source: Tangipahoa Parish Permit Office, City of Hammond Permit Office, City of Ponchatoula Permit Office (Note: City of Hammond permits for 1Q2015 estimated by BRC) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec New Light Vehicle Purchases & Sales TANGIPAHOA PARISH Apr 14 May 14 Jan 15 Feb 15 Mar 15 New Car/Truck Purchases % Change vs Prior Year Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 468 n/a 373 n/a 342 n/a Purchases within Parish 250 181 185 New Car/Truck Sales* % Change vs Prior Year 444 n/a 361 n/a 483 n/a Car/Truck Purchases & Sales: Number of Units 2QT-14 3QT-14 4QT-14 1QT-15 600 New Car/Truck Purchases 1,183 500 % Change vs Prior Year n/a 400 2015 Purchases Purchases within Parish 616 300 2015 Sales New Car/Truck Sales* % Change vs Prior Year Source: Louisiana Dept. of Public Safety (compiled by Dominion Cross-Sell) * = Includes only new vehicle sales w ithin Louisiana Southeastern Louisiana University 1,288 n/a 200 100 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 13 Economic Reporter Washington Parish Total employment in Washington Parish in the Residential building permits fell 63.6 percent from first quarter of 2015 rose 2.2 percent compared the prior quarter and were 46.7 percent lower to the first quarter of the previous year. The labor compared to the first quarter of 2014, projecting force rose 3.4 percent, leading to an increase in a significant slowing of residential construction the unemployment rate to 7.8 percent from the activity for the parish. 6.7 percent of 1Q2014. Washington Parish residents purchased 291 new The value of taxable sales in 1Q2015 was 15.5 cars and light trucks in the first quarter of 2015 — percent higher than in the first quarter of the pre- 31 from dealers within Washington Parish and 260 vious year, far surpassing the 6.0 percent average from outside the parish. gains for the region. Washington Parish dealers sold 10 additional vehicles to residents of other Louisiana parishes. EMPLOYMENT WASHINGTON PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 16,987 16,966 17,309 17,200 17,003 17,364 17,276 17,309 17,223 17,191 17,290 17,525 2.3% 1.7% 1.5% 2.4% 2.4% 5.0% 5.2% 4.0% 6.5% 3.5% 3.6% 3.3% 15,957 15,701 15,744 15,581 15,417 15,870 15,833 15,862 15,861 15,744 16,002 16,202 % Change vs Prior Year 4.3% 3.1% 2.9% 2.5% 1.8% 4.4% 4.6% 2.3% 4.8% 1.8% 2.5% 2.4% Unemployment Rate 6.1% 7.5% 9.0% 9.4% 9.3% 8.6% 8.4% 8.4% 7.9% 8.4% 7.4% 7.5% % Change vs Prior Year -1.8% -1.3% -1.3% -0.1% 0.6% 0.5% 0.5% 1.5% 1.5% 1.5% 1.0% 0.8% 2QT-14 3QT-14 4QT-14 1QT-15 17,087 17,189 17,269 17,335 1.8% 3.2% 5.2% 3.4% 15,801 15,623 15,852 15,983 % Change vs Prior Year 3.5% 2.9% 3.9% 2.2% Unemployment Rate 7.5% 9.1% 8.2% 7.8% % Change vs Prior Year -1.5% 0.3% 1.2% 1.1% Labor Force % Change vs Prior Year Total Employment Total Employment Labor Force % Change vs Prior Year Total Employment 17,000 16,000 15,000 14,000 13,000 Jan Feb Mar Apr May Jun Jul 2013 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Aug 2014 Sep Oct Nov Dec 2015 WEEKLY UNEMPLOYMENT INSURANCE (UI) CLAIMS WASHINGTON PARISH Week Date 1 1/3/15 8 157 Initial UI Claims Weeks Claimed 2 1/10/15 25 158 3 1/17/15 24 162 4 1/24/15 16 172 5 1/31/15 16 152 6 2/7/15 20 162 7 2/14/15 11 157 8 2/21/15 13 158 9 2/28/15 15 160 10 3/7/15 15 156 11 3/14/15 18 139 12 3/21/15 16 147 13 3/28/15 18 143 Weekly Initial Unemployment Insurance Claims 40 35 30 30 25 20 20 15 10 10 5 0 2012 2013 2013 2014 2014 2015 1 40 2 41 3 42 4 43 5 44 6 45 7 46 Week 8 47 9 48 10 49 11 50 12 51 13 52 Source: Labor Market Statistics, Local Area Unemployment Statistics Program Southeastern Louisiana University 14 Economic Reporter Washington Parish—continued ESTIMATED RETAIL SALES WASHINGTON PARISH Apr 14 Estimated Retail Sales (mil.) May 14 $42.31 Jun 14 $40.22 Jul 14 $45.35 Aug 14 $37.11 Sep 14 $33.76 Oct 14 $42.42 Nov 14 $33.50 Dec 14 $35.25 Jan 15 $46.14 Feb 15 $43.25 Mar 15 $40.83 $48.01 -8.2% -4.9% 12.8% -18.2% -9.0% 25.7% -21.0% 5.2% 30.9% -6.3% -5.6% 17.6% % Change vs. Prior Year 23.6% 12.8% 12.8% 72.0% -17.4% 9.2% -13.8% 5.5% 3.6% 26.4% 19.8% 4.2% 2QT-14 3QT-14 4QT-14 1QT-15 Quarterly Avg. Sales (mil.) $42.63 $37.76 $38.30 $44.03 % Change vs. Prior Quarter 11.8% -11.4% 1.4% 15.0% % Change vs Prior Year 16.1% 11.9% -1.6% 15.5% Millions % Change vs Prior Month Estimated Retail Sales $60 2013 $40 2014 $20 2015 Source: Washington Parish Sheriff's Office - Sales and Use Tax Department. $0 Note: November and December 2014 sales tax collections combined in data submitted by WPSO, Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec so retail sales for these tw o months w ere estimated by BRC. RESIDENTIAL BUILDING PERMITS WASHINGTON PARISH Total Permits % Change vs Prior Year Total Units Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 1 7 4 7 5 7 5 11 6 5 2 1 -85.7% -30.0% 0.0% -46.2% -54.5% 16.7% 25.0% 266.7% 500.0% -16.7% 0.0% -85.7% Mar 15 1 7 4 7 5 7 5 11 6 5 2 1 -85.7% -30.0% 0.0% -46.2% -54.5% 16.7% 25.0% 266.7% 500.0% -16.7% 0.0% -85.7% 2QT-14 3QT-14 4QT-14 1QT-15 12 19 22 8 -42.9% -36.7% 175.0% -46.7% 12 19 22 8 -42.9% -36.7% 175.0% -46.7% % Change vs Prior Year Total Permits % Change vs Prior Year Total Units % Change vs Prior Year Residential Building Permits: Number of Units 15 10 2013 2014 5 2015 0 Sources: Washington Parish Permit Office and http://censtats.census.gov Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec New Light Vehicle Purchases & Sales WASHINGTON PARISH Apr 14 May 14 Jun 14 Jul 14 Aug 14 New Car/Truck Purchases % Change vs Prior Year Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 115 n/a 90 n/a 86 n/a Purchases within Parish 14 8 9 New Car/Truck Sales* % Change vs Prior Year 18 n/a 10 n/a 13 n/a Car/Truck Purchases & Sales: Number of Units 2QT-14 3QT-14 4QT-14 1QT-15 150 % Change vs Prior Year 291 n/a 100 Purchases within Parish 31 New Car/Truck Sales* 41 n/a New Car/Truck Purchases % Change vs Prior Year Source: Louisiana Dept. of Public Safety (compiled by Dominion Cross-Sell) * = Includes only new vehicle sales within Louisiana Southeastern Louisiana University 2015 Purchases 2015 Sales 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 15 Economic Reporter SOUTHEASTERN Gnarly Barley Southeastern alumni brew a successful local business Zac and Cari Caramonta opened Gnarly Barley Brewing Company in the heart of Hammond in the spring of 2014 and have experienced growth that has surprised even them. Their success, though, is not the result of luck, but of years of planning. After much research, planning and recipe creating, Zac did his first full brew in their kitchen – and it was a success. Soon thereafter Zac designed and built a larger scale brewing system and moved from the kitchen to the garage. In 2011, the couple made the jump into the business world, forming an LLC and getting ready to produce beer to sell. After working festivals and brewing small quantities, the couple knew the time was right to move to the next level. Releasing their first beers in May 2014, growth in the past months has been far beyond expectations. Gnarly Barley currently produces three main beers: Catahoula Common, Radical Rye P.A. and Korova Milk Porter. Each beer is an original recipe created by Zac, and all three have received acclaim both locally or regionally. Gnarly Barley beers have won awards in the region and have been listed on every regional top beer list and ranking since opening last year. As of June 2015, Gnarly Barley was offered in nearly 300 bars and restaurants from Lafayette to Slidell. Zac and Cari see strong growth for some time based on current sales trends and the feedback they are receiving. Read the full “Gnarly Barley: Home Grown Brew” story and more in the current edition of Southeastern Magazine. - (Article courtesy of Southeastern’s Public Information Office.) Our Special Thanks This edition of the Economic Reporter would not exist without valuable contributions from: Southeastern Louisiana University: Dr. A.M.M. Jamal (College of Business), Rene Abadie (Public Information Office) Livingston Parish School Board Sales and Use Tax Division St. Helena Parish Sheriff’s Office St. Tammany Parish Permit Office and Sheriff’s Office Sales and Use Tax Department Tangipahoa Parish Permit Office and School Board Sales and Use Tax Department This publication is jointly produced by the following Southeastern Louisiana University departments: Business Research Center Office of Economic & Business Development Southeast Louisiana Business Center College of Business Washington Parish Building and Planning Department and Sheriff’s Office Sales and Use Tax Department Building permit offices of the following municipalities: Town of Abita Springs Village of Albany City of Denham Springs Village of Folsom City of Hammond Town of Livingston Town of Madisonville City of Mandeville Town of Pearl River City of Ponchatoula City of Slidell Town of Walker
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