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TRAL MISSISSIPPI VALLEY
NOMIC INDICATORS

4TH QUARTER 1980



Prepared by Federal Reserve Bank of St. Louis
R e lease d: M a r c h 4 , 1981

D A TA DESCRIPTION

Selected economic data for the Central Mississippi Valley (C M V ) are generally
provided for five states and eight metropolitan areas which are entirely or partially within
the Eighth Federal Reserve District. In addition, Federal Reserve member bank data are
provided for three smaller SMSAs (Standard Metropolitan Statistical Areas) and for all
seven states and nonmetropolitan areas within the Eighth District portion of these states.
Also, the metropolitan summary of population includes 13 SMSAs in the C M V .
Metropolitan areas refer to the 1973 SMSA definitions, except where noted, and states in
some cases refer only to the Eighth District portion of the state. The latest data for
some series are preliminary and will be revised as final figures are received.

Income and Trade Indicators
Personal income and department store sales data are from the U.S. Department
o f Commerce. In April 1977, numerous revisions were incorporated into the department
store series, including boundary redefinitions for SMSAs. A ll agricultural data are from
the U.S. Department o f Agriculture.

Employment Indicators
Employment data are from the respective state Employment Security Offices
and the United States Department o f Labor. Data for Memphis include only Shelby and
Tipton counties in Tennessee and Crittenden County in Arkansas. Total employment,
unemployment, and labor force are based on household (place-of-residence) data. Payroll
employment data, which include manufacturing, non manufacturing, and hours and earnings
in manufacturing, are based on establishment (place-of-work) data.

Production and Price Indicators
Consumer price indices are from the U.S. Department of Labor. Electric power
consumption data for the Eighth Federal Reserve District are based on reports to this
Bank from various utility and self-generating firms in the District and U.S. data are
obtained from the Board of Governors of the Federal Reserve System. The series Value
o f Construction Contracts Let are from Dodge Construction Potentials, McGraw-Hill
Information Systems Company. Housing permits are from the U.S. Department of
Commerce.

Financial Indicators
Total loan and deposit data for states, metropolitan areas, and nonmetropolitan
areas are only from member banks in the Eighth District. Such data are averages of the
weekly member bank reports for the month and are not strictly comparable over time due
to withdrawals and additions of member banks (see average number of member banks,
page 35). Savings and loan data are obtained from the various Federal Home Loan Banks.
These data for the Fort Smith metropolitan area include only those counties in the State
o f Arkansas, and for St. Louis include only St. Louis City and St. Louis County in Missouri,
and Clinton, Madison, Monroe, and St. Clair counties in Illinois.




2

SUMMARY OF C E N T R A L MISSISSIPPI VALLEY ECONOMIC ACTIVITY

In 1980 overall economic activity in the Central Mississippi Valley (CMV) declined from its
1979 level according to income, sales, employment and construction indicators. After a substantial
decline in the first half of the year, however, indicators show that economic activity began rising in
the second half o f 1980.
In the first three quarters of 1980, personal income in five CMV states averaged 9.1
percent above the same period in 1979. Real purchasing power, however, was eroded by a rapid 13.8
percent increase in the consumer price index. Personal income began to increase somewhat more
rapidly than the increase in the consumer price index after the second quarter, rising at a 12 percent
annual rate from the second to third quarters of the year.
During 1980 department store sales in six leading CMV cities also rose sluggishly when
compared with price changes. Sales in the first 11 months of the year averaged only 5.2 percent
above 1979. In comparison, sales in the nation rose 6.3 percent during the period.
Judging from manufacturing employment, industrial output in the region declined. While
manufacturing employment in the five CMV states rose in the fourth quarter fa* the first time since
early 1979, fourth quarter manufacturing employment stood 5 percent below the year earlier. This
decline was somewhat greater than the 3.6 percent decrease in the nation as a whole. Kentucky,
Mississippi and Missouri registered greater losses than in the United States, whereas the declines in
Arkansas and Tennessee were close to the national average. While most leading industries in the
region registered employment declines in 1980, those with the sharpest percentage losses were
transportation equipment (-15.2), electrical equipment (-9.4), lumber and furniture (-8.0), and
nonelectrical equipment (-7.9).
Non manufacturing employment also declined in the CMV states during 1980. Such
employment was about 1 percent below a year ago in the CMV states and 1.6 percent above a year
ago in the nation. A weaker construction sector in the region accounts for much of the difference.
Fa* example, fourth-quarter construction employment was 14.5 percent below a year ago in the CMV
states while only 2.1 percent less for the nation as a whole. For the year, such employment was 9.2
percent below a year earlier in the region compared with little change in the nation.
As indicated in the table below, total value of construction contracts made in 1980
declined more severely in the region than the nation. Looking at individual categories, total building
contracts, which include both residential and nonresidential buildings, declined relatively less than
the nation; however, nonbuilding contracts declined much more severely in the region than in the
nation. Nonbuilding contracts include street, highway, and bridge projects and sewerage, waste
disposal, water supply, electrical power, gas and communication systems.
SELECTED CONSTRUCTION INDICATORS
Percent change
from 1979 to 1980
CM V States
-33.3 %
-4.2
-15.8
+13.5
-67.3
-13.1
-9.2

Total value o f construction contracts
Building
Residential
Nonresidential
Nonbuilding
Housing permits
Construction employment




3

United States
-12.6 %
-7.4
-15.2
-4.3
-27.6
-22.5
-0.1

INCOME AND TRADE INDICATO RS

PERSONAL

INCOME

SE A S O N A LL Y AD JU S TE D
INDEX: 1 9 7 1 - 1 0 0
1971-100

1971-100
320
270

220
170
120

ARKANSAS

KENTUCKY

MISSISSIPPI

MISSOURI

TENNESSEE

320

320

270 —

______ ___ _

—

220

220

170 1—

*

120 r - T

- r r

1974

J ___L-. .1— ___ 1___ 1___ 1___ ___ 1___ 1___ l_
1975

1976

1977

LATEST DATA PLOTTED: 3RD QUARTER



___ 1___ 1___ 1___ ___ 1___ 1___ 1___ _ l ___ 1___ L _J 120
1978

1979

1980

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4

170

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SE AS O NA LL Y A D JU S TE D
COMPOUNDED ANNUAL
RATES OF CHANGE

_____ INDEX: 1971-100_____
2ND
QUARTER
I960

X 3RD
QUARTER
1980

UNITED STATES

245.2

252.7

12.9

10.2

CMV STATE SU M M A R Y

251.2

258.6

12.4

8.7

ARKANSAS

271 .2

284.0

20.3

9.7

KENTUCKY

255.7

262.1

10.4

7.4

M I S S I SSIPPI

257.8

267.3

15.6

10.4

MISSOURI

231.6

238. 1

11.6

7.5

TENNESSEE

262.5

268.7

9.8

10.0

2ND OTR 1980
TO
3RQ QTR 1980

3RD OTR 1979
TO
3RD QTR 1980

STATE SUMMARY--PERSONAL INCOME
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

INITIAL QUARTER

QUARTER

_______
1-76

2-76

3-76

_______ ____ ______
4-76

2-77

___________________

3-77

4-77

1-78

2-78

3-78

1971=100
4-78

1-79

2-79

3-79

6.8

3-76

7.6

8.0

1-80

2-80

12.2

167u 6

6

9.0

10.1

1-77

10.3

11.6

13.2

14.1

2-77

10.5

11.4

12.6

12.8

172.5
1781.3
11.5

183.2

3-77

10.8

11.6

12.5

12.6

11.8

12.1

4— 77

11.2

11.9

12.7

12.8

12.4

12.8

13.6

1-78

10.7

11.3

11*9

11.8

11.2

11*1

10.7

2-78

11.5

12.1

12.7

12.8

12.6

12.8

13.1

12.8

18.1

3-78

11.7

12.2

12.8

12.8

12.6

12.9

13.1

12.9

15.5

13.0

6-78

12.0

12.5

13.0

13.1

12.9

13.2

13.4

13.4

15.3

13.9

14.8

1-79

12.2

12.7

13.2

13.3

13.2

13.4

13.7

13.7

15.2

14.2

14.9

14.9

2-79

11.7

12.1

12.5

12.5

12.4

12.5

12.5

12.4

13.3

12.1

11.9

10.4

6.1

186.5
194 .6
198.3

7.8

2 0 6 .7 ”
213.1
220.6
228.4
231.8

3-79

11.7

12.0

12.6

12.4

12.2

12.3

12.3

12.2

12.9

11.9

11.6

10.6

8.5

10.9

6-79

11.8

12.1

12.6

12.5

12.3

12.4

12.4

12.3

13.0

12.1

12.0

11.2 ~ 10.0

12.1

13.2

1-80

11.7

12.0

12.3

12.3

12.2

12.3

12.3

12.1

12.7

11.9

11.8

11.2

10.2

11.7

12.0

2-80

10.9

11.2

11.4

11.3

11.1

11.1

11.0

10.8

11.1

10.2

9.9

9.0

7.9

8.4

11.2

11.2

11.1

10.9

11.2

10.5

10.2

9.5

8.6

9.1

1-77

2-77

3-77

4-77

1-78

2-78

3-78

4-78

1-79

2-79

3-80

4-79

164.4

2-76

W

1— 77

11.0

11*2

11.5

11.4

1-76

2-76

3-76

4- 76




237.9
245*^4
10.8

251.8

4.8

-0.9

8.7

7.2

5.5

12.3

3-79

4-79

1-80

2-80

25L*2~

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

258 mb

INCOME AND TRADE INDICATO RS

DEPARTMENT STORE SALES
SE A S O N A LL Y A D JU S TE D
INDEX: 1 9 7 1 - 1 0 0

-

u.s.
SUSA'S

270

1971-100
350

1
1
1
1
1
1
1
1
________________ L

I 971-100
350

1
I
________
.

270

R

190
~

190

m

110
30

110
■ 11111111

■ i

1974

i 1 1 1 i 1 1 1 1.-LJ-

1975

...................... ...

■ ■i 1 1 1 1 1 1 1 1 11

1976

1977

1 1 1 1 1 1 . 1 . 1 1 11

■ ■ i ■ ■ i ■ ■ i ■ ■

« » 1» » 1» » 1» i

1978

1979

1980

30

LI TTLE ROCK - NORTH L ITT LE ROCK: AR
350
270
190
110
30
350
270
190
110
30

350

350

270

270

190

190

X

110
I ■ ■I ■ ■I

30

I ■ ■ I ■ ■I

■ I ■■I ■> I ■■

110

■ I ■■ I ■■I ■■

■i l i . l n l

0-1 I ■ ■ I ■ ■ I 1—
L

I ■I I ■■I

30

SPRINGFIELD: MO
350

350

i 1,l

270
190
110

— 270
^

Ml

------

_ 190
110

i .. i .. i .. . . 1. . 1. . 1. . . . 1111. . I . > .. 1.. 1.. 1.. . . 1. . 1. . 1. . 1 1 1 1 1 1 1 11 1 1 1■ 1■ 1 11 1111
30
1977
1978
1979
1974
1975
1976
1980
LATEST DATA PLOTTED: NOVEMBER
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS



6

3G

INCOME AND TRADE IND ICATO RS

DEPARTMENT STORE SALES
SE A S O N A LL Y A D JU S TE D
__________INDEX; 1971-100_______

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END INS NOVEMBER 1980
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO.

SEPTEMBER
1980

OCTOBER
1980

NOVEMBER
1980 _

UN I T E D STAT E S

219.7

229.5

234.7

15.6

5.0

CMV M E T R O P O L I T A N S U M M A R Y

195.4

206.8

207.6

8.7

2.5

332.4

348.5

350.6

0.7

6.9

315.2
177.6
182.0
187.6
214.8

340.6
189.8
193.1
197.4
230.3

328.2
178.8
195.7
202.5
226.9

9. 1
9.5
3.9
8.8
17.2

5. 1
-1.7
3.8
2.8
3.6

FORT SMITH: AR-OK
LIT T L E R O C K - N O R T H
LI T T L E ROCK: AR
L O UISVILLE: K Y - 1N
MEMPHIS: T N - A R - M S
ST. LOUIS: MO-IL,
S P R I N G F I E L D : MO

*DATA NOT COMPARABLE, SEE INCOME AND TRADE INDICATORS, PAGE 2

____ U » S . DEPARTMENT STORE SALES
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

I N I T I A L QUARTER
1—76

2 -7 6

2 -7 6

3 -7 6

6 —76

1 -7 7

2 -7 7

3 -7 7

6 -7 7

1 -7 8

2 -7 8

1971>10G
3 —78

6 -7 8

1 -7 9

2 -7 9

3 -7 9

6 -7 9

1 -8 0

2 -8 0

2 *6

1 62 .9

3—76

6 .9

1 1 .6

6 -7 6

1 0 .7

1 6 .9

1 8 .6

1 -7 7

9 .5

1 1 .9

1 2 .2

6 .1

2 -7 7

1 2 .9

1 5 .7

1 7 .1

1 6 .6

2 7 .7

3 -7 7

1 6 .6

1 7 .2

1 8 .7

1 8 .7

2 5 .5

2 3 .3

1 66 .8
1 5 3 .2
1 5 5 .5
1 6 5 .3
176 .2

6 -7 7

1 5 .1

1 7 .3

1 8 .5

1 8 .5

2 2 .9

2 0 .6

1 7 .8

1 -78

1 3 .8

1 5 .5

1 6 .2

1 5 .7

1 8 .2

1 5 .2

1 1 .3

5 .2

2 -7 8

1 6 .0

1 5 .6

1 6 .2

1 5 .8

1 7 .8

1 5 .6

1 2 .9

1 0 .5

1 6 .1

181/.5
1 8 3 .8
190 .8

3 -7 8

1 3 .3

1 6 .6

1 5 .0

1 6 .6

1 5 .9

1 3 .7

1 1 .6

9 .3

1 1 .6

6 .9

6 -7 8

1 2 .6

1 3 .6

1 3 .9

1 3 .3

1 6 .6

1 2 .3

1 0 .2

8 .6

9 .5

6 .3

5 .7

1 -7 9

1 2 .0

1 2 .9

1 3 .0

1 2 .6

1 3 .2

1 1 .3

9 .6

7 .8

8 .6

6 .0

5 .5

2 -7 9

1 1 .7

1 2 .5

1 2 .7

1 2 .1

1 2 .7

1 1 .0

9 .6

8 .0

8 .6

6 .8

6 .7

7 .2

9 .1

3 -7 9

1 2 .1

1 2 .9

1 3 .0

1 2 .5

1 3 .2

1 1 .7

1 0 .3

9 .3

9 .9

8 .8

9 .2

1 0 .6

1 3 .6

1 7 .1

6 -7 9

1 2 .1

1 2 .8

1 2 .9

1 2 .5

1 3 .1

1 1 .7

1 0 .5

9 .6

1 0 .2

9 .3

9 .8

1 0 .8

1 2 .7

1 6 .5

1 2 .0

1 -8 0

1 1 .2

1 1 .8

1 1 .9

1 1 .6

1 1 .8

1 0 .5

9 .3

8 .6

8 .8

7 .7

7 .9

8 .3

9 .1

9 .1

5 .3

-1 .1

2 -8 0

1 0 .2

1 0 .7

1 0 .6

1 0 .1

1 0 .6

9 .1

7 .8

6 .9

7 .1

6 .0

5 .9

5 .9

6 .0

5 .3

1 .6

-3 .3

-5 .6

3 -8 0

1 0 .6

1 0 .9

1 0 .9

1 0 .6

1 0 .7

9 .5

8 .6

7 .5

7 .8

6 .9

6 .9

7 .1

7 .6

7 .0

6 .6

2 .3

6 .0

1 6 .3

H

2 -7 6

3 -7 6

6 -7 6

1 -7 7

2 -7 7

3 -7 7

6 -7 7

1 -7 8

2 -7 8

3 -7 8

6 -7 8

1 -7 9

2 -7 9

3 -7 9

6 -7 9

._1—80

2 -8 0

„

i




IN IT IA L

1 9 6 .0
1 9 6 .7
5 .6

1 9 9 .3
2 0 3 .7
2 1 1 .9
2 1 8 .0
2 1 7 .6
2 1 6 .6

QUARTER

PREPARED BY FEOERAL RESERVE BANK OF ST. LOUIS

7

221/.7

INCOME AND TRADE INDICATO RS

FARM CASH R E C E I P T S
S E AS O NA LL Y A D JU S TE D
INDEX: 1 9 7 1 - 1 0 0
1971-100




1971-100

ARKANSAS

450
350
250
150
50

KENTUCKY

450
350
250
150
50

MISSISSIPPI

TENNESSEE

8

INCOME AND TRADE INDICATO RS

1r ARM CASH R E C E I P T S
S E AS O NA LL Y A D JU S TE D
COMPOUNDED' ANNUAL
RATES OF CHANGE
> MONTHS ENDING NOVEMBER 1980
FROM SAME
MONTHS A
FROM PREVIOUS
3 MONTHS
YEAR AGO

__________INDEX: 1971-100____
SEPTEMBER
1980

OCTOBER
1980

NOVEMBER
1980

UNITED STATES

261 .5

259.6

254,.7

-25. 1

0,.9

CMV S TATE S U MMARY

247.4

239.9

225,,2

-48.9

-4.,9

ARKANSAS

261 .7

236.2

249,,0

-56.8

-9.,5

KENTUCKY

237. 1

228.2

183.,5

-50.2

-10. 6

M ISSISSIPPI

184.6

182.5

218.,2

-50.2

-9,,4

MISSOURI

273.4

302.6

240,,1

-17.0

2..7

TENNESSEE

241.2

257.7

239,,0

-29.0

-2. 5

STATE SUMMARY-FARM CASH RECEIPTS
COMPOUNDED ANNUAL KATES OF CHANCE

^

TERMlNAL
QUARTER
1-76
______2=76
______3=76

2—76

3-76

7 8 .Q

6 -7 6
_

1-77

2-77

3-77

6 -7 7 __ 1-78__ 2-78

--------- ----

.

1971*IOC

_ IN IT IA L QUARTER
3-7 8

4-7 8

1-79

2-79

3-79

4-7 9

1—80

2-80

.. ..
193.7

—

6 .8 -3 8 .3

171.7

6-7*>____ 11*8 - 11*4__ 27.1

1B2.3

1=2?

177.9

_ fa * l_ = 1 0 * 2 ____ 2 *4 ___- 9 . 3

17V .2

3,0

2=77

5 .4

3 -7 7

7 . fa__ —2.7____ 9*0____ 3*6__ 1Q.7__ 19.1

= 1 .5

5 . 9 ___- 3 * 4 _

167.2
196.5

4-7 7

2-76

13.3

7 .0

15.>8

14.0

19.3

23.6

2 5 .4

27.5

32.6

221.9

3-78

11.3

5.6

12,.9

11.0

16.9

17.4

17.0

15.6

12.1

-5 .1

6-76

11.4

6.5

IT..1

11.5

16.8

16.9

16.5

15.3

12.9

6 .2

1 4 .4

1-79

16.6

11.2

17,,9

16.9

20.7

23.5

26.2

26.8

25.3

23 .0

40 .0

71.2

.219*0 ....
226*5
259.1

2-79

1 1 -7

7 .6

13,,0

11.6

16.3

1 5.8

15.3

16.3

12.7

8 .2

13.0

12 .4 -2 6 .3

3-79

in .9

7 .0

1?,.0

10.7

12.9

14.1

13.5

1 2 .6

10.7

6 .8

10.0

8 .6 -1 3 .5

1.5

6-79

10.8

7.1

11.,7

10.5

12.5

13.5

12.9

11.9

10.4

7.1

9 .7

8 .6

5 .0

1-80

10.7

7 .3

11..fa

10.5

12.3

13.2

1 2.7

11.7

10.4

7 .6

9 .9

9 .0

3-60

11.9

6.8

1-76

2-76

1?.

11.9

13.6

3-76

4 -7 6

1—77




-6 .7

240*1__
241*Q._
266 J )

8 .6

-2 .7

6.8

9 .5

=7*7

-2 * 4

“3 *7

- 9 * 3 -2 5 *5 '

. . . . ____ 252.2

10*5

16.0

13.6

12.5

10.5

12.6

12.3

4 .7

12.3

15.2

17.5

2 1 .2

97.1

2-77 3-77
' >V
— £------

4 -7 7

1-78

2-78

3-78

4-78

1-79

2-79

3-79

4 -7 9

1-80

2-80

16.6

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

777,-6

EMPLOYMENT IND ICATO RS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100




1971-100

ARKANSAS

KENTUCKY

MISSISSIPPI

MISSOURI

TENNESSEE

10

EMPLOYMENT INDICATO RS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1971-100

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING DECEMBER 1
FROM SAME
MONTHS A
FROM PREVIOUS
___3 MONTHS
TEAR ASP

OCTOBER
>980

NOVEMBER
■ 1980 .

DECEMBER
1980

122.9
120.4
113.9
128.0
126.8

123.1
120.7
114.3
127.8
127.7

123.0
120.1
114.1
127.5
129.1

1.0
3.4
-0.3
2.9
11.7

-0.2
-0.6
-2.1
-0.2
-1.5

136.3
123.8
125.2
120.8
117.0
127.2
113.1
107.8
131.3
118.8
109.9

135.9
127.2
126.0
121.5
116.9
127.9
113.2
108.1
132.2
118.8
109.3

135.9
126.6
126.2
121.4
116.7
127.5
112.6
107.8
132.2
118.1
108.5

2.4
2.3
11.9
3.0
7.5
3.5
-5.1
-5.4
-5.0
7.8
1. 1

0.3
-0.6
1.8
-3.6
1.8
1.4
-3.6
-4.3
-3.7
-0. 1
-0.2

U N IT E D STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PIN E BLUFF: AR
KENTUCKY
EVANSVILLE: IN -K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST . LO UI S: M O - 1L
SP RI NG FI EL D: MO
TE NN E S S E E
MEMPHIS: TN-AR

STATE SUMMARY-TOTAL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER

I N I T I A L QUARTER
1 -7 6

2 -7 6

3 -7 6

2 -7 6

2.2

3 -7 6

1 .1

0 .0

4 -7 6

1 .6

1 .3

2 .5

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

1 97 1*100
4 -7 8

1—79

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -6 0

3 -8 0
i l i a
1 11 .2
1 1 1 .9

1 -7 7

2 *9

3 a

4 .7

7 .0

113^

2 -7 7

3 *7

4 .1

5 .6

7 .1

7 .2

1 15 .8

> 7 7

3 *5

3 .7

4 .7

5 .4

4 .6

2 .1

4 -7 7

3 .0

3 .2

3 .8

4 .1

3 .2

1 .2

116a
0 .3

ii6 * a
1 1 6 .6

1 -7 8

2 .7

2 .7

3 .2

3 .3

2 .5

0 .9

0 .3

0 .3

2 -7 8

2 .6

2 .7

3 .0

3 .1

2 .4

1 .2

0 .9

1 .2

2 .1

3 -7 8

2 .6

2 a

2 .9

3 .0

2 .3

1 .4

1 .2

1 .5

2 .1

2 .1

2.1
2.6
2.6

3 .1

3 .1

2 .6

1 .8

1 .8

2 .1

2 .8

3 .1

4 .1

3 .1

3 .2

2 .7

2 .1

2 .1

2 .4

2 .9

3 .2

3 .8

3 .4

2 -7 9

2.1
2.8
2.6

2 .9

2 .9

2 .5

1 .9

1 .9

2 .1

2 .5

2 .6

2.1

2 .0

0 .7

3 -7 9

2 .4

2 .4

2 .7

2 .7

2 .2

1 .7

1 .7

1 .9

2 .1

2 .1

2 .1

1 .5

0 .5

4-.T9

2 .4

2 .5

2 .7

2 .7

2 .3

1 .8

1 .8

2 .0

2 .2

2 .2

2 .2

1 .8

1 .2

2 .4

‘ 2 .5

2 .6

2 .6

2 .3

1 .9

2 .2

2.2

2 .3

4—78
1 -7 9

1 -8 0
2-

80

1 .9

3-

80

U7

4-

80

U8

1 -7 6

1 1 7 .2
1 1 7 .8
119 .0
12Ck.O
1 2 0 .2
0 *3

12 0 a

121.1

1 .8

2 .0

1 .9

1 .5

1.5
1.8

2 .0

1 .9

1 .6

1 .1

1 .0

1 .1

1 .2

1 .1

0 .9

0 .4

-0 .2

-0 .4

-0 .7

> 2 .3

U7

U8

U7

M

0 ^9

<U9

(U 9

UO

0^8

6 .7

<U2

-0 .3

-o T 5

-0 .7

- 1 .9 ~ -3 .9

1 .8 .

M

1 .8

1 .5

U1

UO

M

U2

M

UO

(U 6

<U2

oTl

2 -7 7

3 -7 7

1 .9

2 -7 6

3 -7 6

4 -7 6

1 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

2 .7
2 .5

.....

..’...

o7l -0 .6

3 -7 9

12 1 a

2 .3

4 -7 9

-6 .7

1 1 9 .7
-1 .0

"

-1 .5

U2

U 4

1- 8 0

2 -8 0

3 -8 Q

__________________________________________________________________________ I N I T I A L QUARTER______________________________________________________________________




PREPAREO BY FEDERAL RESERVE BANK OF ST. LOUIS

1 1 9 .4
1 2 0 .4

EMPLOYMENT IND ICATO RS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT




PERCENT

12
9

6
3

0

KENTUCKY

12
9

6
3

0

MISSISSIPPI

12
9

6
3

0

MISSOURI

12
9

6
3

0

TENNESSEE

12
9

6
3

0

12

EMPLOYMENT INDICATO RS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT
MONTHLY AVERAGE
3 MONTHS ENDING

U N I T E D ST A TE S
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PIN E BLUFF: AR
KENTUCKY
EVANSVILLE: IN - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LO UIS: M O - 1L
SP RI NG FI EL D: MO
TE NN E SS E E
MEMPHIS: TN-AR

OCTOBER

NOVEMBER

DECEMBER

DECEMBER

SEPTEMBER

1980

1980

1980

1980

1980

7.6
8.0
7.9
8.3
9.8

7.5
7.7
7.7
7.6
8.8

7.4
7.5
7.4
7.3
7.7

7.5
7. 7
7. 7
7.7
8.8

7.5
8.0
7.9
8.9
1 1.7

6.4
7.7
8.9
6.8
7.8
7.2
7.9
9.0
6.1
7. 7
6. 1

5.8
7. 1
8.7
6.7
8.3
7.5
7. 7
8.7
6.2
7. 4
6. 1

5. 1
7.7
8.2
6.6
8.4
7.4
7.3
8.3
6.1
7.3
6.3

5.8
7.5
8.6
6.7
8.2
7.4
7.6
8.6
6.2
7.5
6.2

6.5
7.0
8.5
7.4
8. 1
7. 4
7.6
8.6
6.4
7.9
6.0

C IV IL IA N

LABOR FORCE

SEASONALLY ADJUSTED
_______ THOUSANDS OF PERSONS_____

UN ITED STATES
CMV S T A TE SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PIN E BLUFF: AR
KENTUCKY
EVANSVILLE: IN - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LO UIS: M O - 1L
SP RI NG FI ELD : MO
TE NN ES SE E
MEMPHIS: TN-AR




OCTOBER

NOVEMBER

DECEMBER

1980

1980

1980

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 1
FROM SAME
MONTHS A
FROM PREVIOUS
3 MONTHS
YEAR AGO

1 0 5 ,1 6 6 .9
7,992.8
2,467.7
98 7 .4
83.9

1 0 5 ,2 8 5 .0
7,988.8
2,470.0
9 7 8 .0
83.5

1 0 5 ,0 6 6 .9
7,930.3
2,456.5
972. 1
83.4

0.3
2. 1
-1.0
-2.2
-1.9

1.4
1.9
0.4
1.6
0.4

191.9
38 .8
1,641.8
141.2
43 2. 5
1,019.7
2,302.9
1,084.8
102.2
2,042.3
39 2 .0

190.1
39.6
1,648.7
141.7
434 .5
1,027.9
2,302.4
1,083.8
103.0
2,035.9
390 .4

188.7
39 .7
1,643.8
141.5
4 3 3 .9
1,024.2
2,280.2
1,0 76. 1
102.9
2,020.7
388.1

-0.6
5.2
12.6
-0.3
8. 1
3.3
-5. 1
-5.3
-6.0
5. 7
1.9

2.0
1.8
5. 1
-2.0
5.0
3. 2
-0.6
-1.4
-1.3
1.6
0.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

13

EMPLOYMENT IND ICATO RS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED
HOURS PER WEEK

ARKANSAS

8

MISSISSIPPI
1

6

48
44

4

J

40

-

2

36

0

l l l l l l l l l l l

l l l l l l l l l l l

- l l l l l l l l l l l

l - l . l l l l j l l . i l

1

1

1

1

1

1 n

1 1 7 g

0

8

48

6

44

4

40

2

36

0

0
48
—

i i l i i l i i l i i

1976

1977

36

- l l l u l l l l l l

1978

l l l l l l l l l l l

1979

n

l i i l n

l i f :

1980

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

14

44
40

f

1 1 1 , :




TENNESSEE

0

EMPLOYMENT IND ICATO RS

AVERAGE HOURLY EARNINGS - MANUFACTURING
S E AS O NA LL Y AD JU S T E D
_________ DOLLARS PER HOUR_______

U N I T E D ST A T E S
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P I N E BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
M IS S IS S IP P I
M ISSOURI
ST. LOUI S: M O - 1L
S P R IN G FI EL D : MO
TE NN E SS E E
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING DECEMBER 1900
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR A60

OCTOBER
1980

NOVEMBER
1980

DECEMBER
1980

7,49
6.63
8.02
5.92
6.14

7.59
6.73
8.06
5.99
6. 16

7.70
6.70
8.05
5.98
6.09

14.5
9.2
7.4
12.6
16.0

10.6
9.5
10. 1
10.9
8.4

6.64
7.68
7.64
8.78
5.60
7.36
8.38
6.94
6.25
7. 11

6.63
7.94
7.69
8.76
5.67
7.51
8.46
6.93
6.32
7. 11

6.65
7.96
7.58
8.71
5.74
7.51
8.51
6.97
6.34
7. 19

0.0
9.0
9.2
12.3
10.8
9.5
8.4
19.0
9.7
1.5

10.4
11.0
10.5
12.4
11.0
7.9
8.9
12.7
9.7
11.8

AVERAGE WEEKLY HOURS WORKED - MANUFACTUR1NG
SE A S O N A LL Y A D JU S TE D
MONTHLY AVERAGE
3 MONTHS ENDING

HOURS PER WEEK

U N I T E D ST AT E S
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P IN E BLUFF: AR
KENTUCKY
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LOUI S: M O - 1L
SP RIN GF IEL D: MO
TE NN E SS E E
MEMPHIS: TN-AR




OCTOBER
1980

NOVEMBER
1980

DECEMBER
1980

DECEMBER
1980

SEPTEMBER
1980

39.7
39.3
39.6
39.4
37.5

39.9
39.6
40.0
39.8
37.8

40.2
39.9
39.8
40.0
38.2

39.9
39.6
39.8
39.7
37.8

39.3
39.0
39.2
38.6
37.4

39.2
42.7
39.5
41.0
39.2
38.8
38.8
40.5
39.5
40.0

40.6
42.8
40. 1
41.8
39.3
39.2
39.4
38.9
39.9
39.5

40.9
42.7
40.2
41.5
39.7
39. 1
39.2
39.3
40.6
39.3

40.2
42.7
39.9
41.4
39.4
39.0
39.2
39.6
40.0
39.6

40.0
41.6
38.6
37.5
39.0
39.0
39.5
39.4
39. 1
40.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

15

EMPLOYMENT INDICATO RS

PAYROLL EMPLOYMENT -

SELECTED

IN D U S T R IE S *

SEASONALLY ADJUSTED
INDEX: 1972-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

1972-100
140
120

- W

1972-100
140

1
t u

z ^

—

120

.

;

100

100

80
60

80
~ . 11111111»

■ ■ 1. . 1■ ■ 1■ ■

1 1 1 1 1 1 1 1 1 11

■ . 1 ■ . 1■ ■ 1■ ■

1 1 1-L 1.11.1 1-L-l- ■ ............... I ■ ■

11 1 1 1 1 1 1i 11

60

CONSTRUCTION
140

mm

120

__________ ___

100

120

80
■ ■ I ■ ■ I ■ ■

i

■ ■

11 1.
11

1 -L .L .L i

1

11 11 1
ELECTRICAL EQUIPMENT

, ■ ■ 1 ■ ■ 1 ■ ■ 1 ■ ■ ■ x -i.L j-j-L j-iii.1

II

1

1

1

L

■ .......................... ■

.. 1111. ■l .7

—

----- —

——

__“

100

i 1 i-

60
140

1 1.1

—

too

80
60

120

80

.. i .. i .. i .. .. i .. i .. i .. .. i .. i .. i .. .. i .. i .. i .. .. i .. i .. i .. .. 1.. 1.. 1.7
FOOD AND KINDRED PRODUCTS

140
120

60
140

"

100

80
60

120
100

80
60
140

140

120
100

* --------_____

80

—

1 1 1 1 1 1 1 1 1 11




■ ■ i ■ ■ i ■ ■ i ■ ■

»»1»« 1»«1««

1 1 1 1 1 1 1 1 1 .1 1

1 1 1 1 1 1 1 1 1 1 1 -1 1 1 i 1 1 1 1 1 1 1

LUMBER AND FURNITURE

16

1J 1 1 1 1 1 1 11 1

60

PAYROLL EMPLOYMENT -

SELECTED

EMPLOYMENT INDICATORS

IN D U S T R IE S *

SEASONALLY ADJUSTED
__________INDEX: 1972-100_______

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 1900
FROM SAME

U N I T E D STAT E S
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE. APPAREL, AND
LEATHER

OCTOBER
1980

NOVEMBER
1980

DECEMBER
1980 _

FROM PREVIOUS
9 MONTHS

MONTHS A
YEAR AGO

109.7
114.3
116.2
96.3
94.6

110.3
114.9
117.1
96.3
95.2

111.1
115.7
117.9
95.8
95.7

7.6
10.0
7.9
-0.8
12.2

-3. 1
-2.1
-1.4
-2.6
-8.3

89.6

89.7

90. 1

3.6

-1.5

118.7
106.1
103.4
104.4
88.3

119.9
105.1
104.2
104.6
89.1

120. 1
106.7
103. 1
104.7
90.6

8. 1
3.5
13.8
3.5
21.8

-1.8
-14.5
-9.4
-1.6
-8.0

69.7

90.0

69.7

2.3

-1.0

101.9
134.1
121.3
82.6
133.3

100.5
134.9
122.2
82.8
132.1

101.5
113.9
125.2
84.3
133.6

-7.5
18.5
2.3
6.5
2.8

-12.7
-8.6
-0.8
-5. 1
1.7

83.4

81.5

79.7

-12.2

-5.0

133. 1
106.0
60.5
96.7
117.8

134.8
104.0
81.9
96.5
125.7

136.0
107. 1
82.5
94.6
129.6

9.8
12.6
19.8
5.6
17.4

-4.3
-15.5
-14.5
-0. 1
-6.2

64.9

67.2

89.2

0.0

-5.2

121.5
124.2
118.3
93.2

121.6
126.4
118.7
93.5

124.0
125.7
118.7
93.7

15.8
8.7
7.4
1 1.9

-9.6
-9. 1
-1.0
-9. 1

96.3
86.3

97. 1
87.2

96.4
89.4

6.9
18.8

-1.2
-14.2

103.3
110.5
89.9
104.5

103.3
110.5
90.9
105.7

103. 1
110.9
91.5
105.9

2.0
0.4
6.9
8.8

-19.6
-5.5
-2.5
-2.0

85.8
77.5

85.4
83.9

84.3
84.0

-5.0
4.0

-2.0
-13.7

114.2
104. 1
108.3
86.0
123.4

115.6
102. 1
109.3
87.5
121.1

114.6
104.5
108. 1
90.3
123.7

6.5
-1.5
-4.7
49.4
2.7

-2.7
-11.9
-2.5
-9.5
2.9

118.3

1 18.9

119.4

9.2

1.8

CMV STATE SUMMARY

CHEMICAL. PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER

ARKANSAS

CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

KENTUCKY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
NONELECTRICAL MACHINERY
TEXTILE, APPAREL, AND
LEATHER
MISSISSIPPI
CONSTRUCTION
ELECTRICAL EOUIPMENT
FOOO AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
MISSOURI
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
TENNESSEE
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

X ALL CATEGORIES ARE MANUFACTURING EXCEPT CONSTRUCTION.
PREPAREO BY FEDERAL RESERVE BANK OF ST. LOUIS



17

EMPLOYMENT IND ICATO RS

MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX: 1 9 7 2 -1 0 0
1972-100
150

1

- u.s.

1972-100
150

-------- 1i-------- U.S.
_STATES

_ STATES

—
130

HO

I 10

90

90

70

iilnlulii ■BI i ■1B»1i B

1978

1979

1976

1980

1977

1978

b b I b b I b b I bb

iiinlulii

1979

1980

MISSOURI

150
130

■iiliilnlii nlnlnli 1 -iilnlulii

.lull.In

M i l l !

1977

1976

—

iso
130

—

110

110

90
70

90
bbI bbI bb

I

bb

l l l u l l l l l l

n l n l n l n

. . l u l l L L k i. I l l l l l l l l l l

70

TENNESSEE

150

—

—

—

130 —

ISO
130

110

110

90
70

70

90

I l l l l l l l l l l I l l l l l l l l l l I l l l l l l l l l l I. I . l l . l III
1976

1977

1978

1979

Illllllllll Illllllllll Illllllllll Illllllllll Illllllllll
1976

1980

LATEST DATA PLOTTED: DECEMBER



1977

1978

1979

1980

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

18

70

EMPLOYMENT IND ICATO RS

M A N U F A C T U R I N G EMPLOYMENT
SEASONALLY ADJUSTED
__________INDEX s 1972-100_______

U N I T E D ST AT E S
CMV ST AT E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE BLUFF: AR
KENTUCKY
EVANSVILLE: IN -K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LOUI S: M O - 1L
SP RI NG FI EL D: MO
TE NN ES SE E
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END INO DECEMBER 1980
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

OCTOBER

NOVEMBER

DECEMBER

I960

1980

1980

105.5
102.0
92.2
112.3
113.7

106.0
103.1
92 .4
112.4
115.7

106.0
103.6
93.0
114.1
118.0

7. 5
8.2
5. 4
1 1.0
40. 3

-3.6
-5.0
-5.6
-3.6
-7.5

106.6
105.4
99.7
97.3
88.4
104.6
95.6
88.5
93.6
103.7
96 .2

105.9
105.5
101.2
99. 1
88.8
105.4
97 .2
88.8
98. 1
105. 1
95 .4

107.0
106.5
101.1
98.5
88.3
105.5
97.7
89.6
96.7
105.8
95.8

10.0
1 1.8
10. 1
4. 2
11.1
8.0
4. 2
0.5
19.6
10.6
3. 4

-6.0
0.6
-7.4
-4.7
-6. 1
-6.5
-5.5
-6.2
-4.4
-3.3
-2.9

NO NM AN UFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
__________INDEX: 1972“ 100_______

U N I T E D ST A TE S
CMV S T A TE SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE BLUFF: AR
KENTUCKY
EVANSVILLE: IN -K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LOUI S: M O - 1L
SP RI NG FI EL D: MO
TE NN ES SE E
MEMPHIS: TN-AR




COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDIN6 DECEMBER 1900
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
3 MONTHS

OCTOBER
1980

NOVEMBER
1980

DECEMBER
1980

.129.5
129.0
121.3
137.3
140.3

129.5
129.0
121.5
137.5
140.8

129.9
129.2
121.6
137.8
141.3

2.8
3.2
1.3
3.3
8.4

1.6
-1 .1
-1.4
0.7
2.1

137.3
131.8
129. 1
130. 1
125.2
137.2
122.7
114.6
137. 1
130.2
119.7

137.9
132.7
129.8
130.9
125.0
137.7
122.8
114.7
137. 1
129.7
120.4

138.7
133. 1
130.0
131.2
125. 1
138. 1
122.8
114.4
138.0
129.2
120.4

3.9
-4. 1
6.7
1.5
0.3
7.9
1.6
0.7
3.3
1.6
2.4

0.8
-3.3
-2.4
-4.0
-1.5
-0.6
-0.8
-2.0
-2.0
-1.5
-0.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

19

EMPLOYMENT IND ICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1 9 7 2 -1 0 0
1972-100




1972-100

KENTUCKY

MISSISSIPPI

MISSOURI

135
125
115
105
95

TENNESSEE

20

EMPLOYMENT IND ICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1 9 7 2 -1 0 0
1972-100




1972-100
135
125
115
105
95

135
125
115
105
95

21

EMPLOYMENT IND ICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX; 1972-100_______

UN ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE BLUFF: AR
KENTUCKY
EVANSVILLE: IN - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LO UI S: M O - 1L
S P R IN G F IE L D : MO
TENNESSEE
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
9 MONTHS ENDING DECEMBER 1980
FROM SAME
MONTHS A
YEAR A6P

OCTOBER
... 1980

NOVEMBER
1980

DECEMBER
1980

FROM PREVIOUS
___3 MONTHS

123.1
120.9
113.2
129.4
129.8

123.5
121.3
113.5
129.6
131.8

123.7
121.6
113.4
130.3
133.0

3.6
4.4
2.5
5.7
17. 1

0.4
-2. 1
-2.4
-0.5
-1.2

131 .0
125.9
121.2
118.7
113.2
126.7
115.6
107.0
125.0
121.3
114.9

131.4
126.3
121.9
119.2
113.1
127.4
116.2
107.3
126.4
121.4
115.4

132.4
126.9
122.3
119.4
113* 1
127.8
116.2
106.9
126.7
121.2
115.5

5.0
-0.9
7.6
1.7
2. 2
7.9
1.7
0.8
7.0
3.7
2.8

-0.4
-2.5
-3.6
-4.3
-2.8
-2.2
-1.9
-2.9
-2.6
-2.1
-0.9

STATE SUMMARY—TOTAL PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUA RTE R ____ ___ _
1 -7 *
2 -7 6

_
3 -7 *

2 -7 6

1 .9

3 -7 6

1 .9

1 .8

4—76

2 *2

2 *4

3 .0

1 -7 7

2 .9

3 .2

3 .9

I N I T I A L QUART01
___________ ____________________ __________________________
4 -7 *
1 -7 7
2 -7 7
3 -7 7
4 -7 7
1 -7 *
2 -7 8
3 -7 8

1972*100
4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0
1 0 8 .9
1 0 9 .4
1 1 0 .2

4 .8

111 .5

2 -7 7

3 .7

4 .1

4 .9

5 .9

7 .0

3 -7 7

3 .8

4 .2

4 .8

5 .4

5 .6

4 .3

4—77

4 .0

4 .4

4 .9

5 .4

5 .5

4 .8

5 .3

1 1 3 .4
1 1 4 .6
1 1 6 .1

1 -7 8

4 .0

4 .3

4 .8

5.%

5 .2

4 .6

4 .8

4 .2

2 -7 8

4 .6

4 .9

5 .4

5 .8

6 .0

5 .7

6 .2

6 .7

9 .2

3 -7 8

4 .5

4 .8

5 .1

5 .4

5 .5

5 .3

5 .5

5 .6

6 .2

3 .4

4 -7 8

4 .4

4 .6

5 .0

5 *2

5 .3

5 .0

5 .1

5 .1

5 .4

3 .5

3 .7

1 -7 9

4 .3

4 .5

4 .8

5 .0

5 .0

4 .8

4 .8

4 .7

4 .9

3 .3

3 .5

3 .3

1 1 1 .3
1 1 9 .9
1 2 0 .9
1 2 2 .0
1 2 3 .0

2 -7 9

4 .0

4 .2

4 .4

4 .6

4 .5

4 .2

4 .2

4 .0

4 .0

2 .8

2 .5

2 .0

0 .7

3 -7 9

3 .7

3 .9

4 .0

4 .1

4 .1

3 .8

3 .7

3 .5

3 .3

2 .2

1 .9

1 .3

0 .3

0 .0

4 -7 9

3 .6

3 .8

3 .9

4 .0

3 .9

3 .6

3 .5

3 .3

3 .2

2 .2

2 .0

1 .6

1 .0

1 .1

2 .3

1 -8 0

3 .6

3 .7

3 .8

3 .9

3 .8

3 .5

3 .5

3 .3

3 .1

2 .3

2 .1

1 .8

1 .5

1 .7

2 *6

2 .9

2 -8 0

2 .7

2 .8

2 .8

2 .8

2 .7

2 .3

2 .1

1 .8

1 .6

0 .7

0 .3

-0 .3

-1 .0

-1 .4

-1 .8

-3 .8

-1 0 *2

3 -8 0

2 .3

2 .3

2 .3

2 .3

2 .1

1 .8

1 .5

1 .2

0 .9

0 *0

-0 .4

-0 *9

—1 *6

-2 .1

-2 .6

-4 .2

—7 . 5

-4 .8

4 -8 0

2 .4

2 .4

2 .5

2 .4

2 .3

1 .9

1 .8

1 .5

1 .2

0 .5

0 .1

-0 .3

-0 .8

-1 .0

—1 .2

-2 .1

-3 .7

-0 .3

4 .4

1 -7 *

2 -7 *

3 -7 *

4 -7 *

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0

1 2 3 .2
1 2 3 .2
1 2 3 .9
1 2 4 .8
1 2 1 .5
120*0
1 2 1 .3

__________________________________________________________________________ I N I T I A L QUARTER______________________________________________________________________




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

22

PRODUCTION AND P R IC E INDICATO RS

PROSPECTIVE 1981 CROP PLANTINGS IN SOUTHERN STATES!/

1980

1979

1981 Indicated

Percent Change
1980 to 1981

(1,000 Acres)
ALL CORN
10,830
60
1,650
170
810

10,657
60
1,680
160
805

-1.6
0.0
1.8
-5.9
-0.6

11,374
280
108
75
105

10,887
331
102
75
107

10,450
335
107
80
112

-4.0
1.2
4.9
6.7
4.7

2,855
1,030
210

3,307
1,300
250

3,395
1,340
250

2.7
3.1
0.0

27,520
5,200
1,720
4,200
2,700

27,125
4,800
1,650
4,000
2,650

27,425
4,800
1,700
3,900
2,700

1.1
0.0
3.0
-2.5
1.9

13,729
610
1,090
250

14,239
700
1,175
290

14,059
650
1,200
310

-1.3
-7.1
2.1
6.9

STATES SURVEYED
Arkansas
Kentucky
Mississippi
Tennessee

10,479
50
1,440
190
750

BARLEY, OATS, AND SORGHUM

y

STATES SURVEYED
Arkansas
Kentucky
Mississippi
Tennessee
RICE
STATES SURVEYED
Arkansas
Mississippi
SOYBEANS
STATES SURVEYED
Arkansas
Kentucky
Mississippi
Tennessee
UPLAND COTTON
STATES SURVEYED
Arkansas
Mississippi
Tennessee

1/Survey conducted around January 1, 1981 in 16 southern states
7/Includes acres planted in preceding fall for barley and oats




23

PRODUCTION AND P R IC E INDICATO RS




ELECTRIC

POWER C O N SU M PT IO N

SEASONALLY ADJUSTED
INDEX:

1971-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

FOOD, BEVERAGES, AND TOBACCO

TRANSPORTATION EQUIPMENT

24

PRODUCTION AND P R IC E IND ICATO RS

ELECTRIC

POWER C O N SU M PT IO N

SEASONALLY ADJUSTED
INDEX: 1971- 100

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS END IING DECEMBER 1
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR ABO

OCTOBER
1980

NOVEMBER
1990

DECEMBER
1980

117.6

120.2

123.0

8.0

-4.2

104.6

113.1

118.5

2. 9

-4.0

103.4

111.8

117.0

2.2

-4. 1

DURABLES
ELECTRICAL MACHINERY
FABRICATED METALS
LUMBER AND FURNITURE
NONELECTRICAL MACHINERY
OTHER DURABLES
PRIMARY METALS
STONE, CLAY, AND GLASS
TRANSPORTATION EQUIPMENT

99. 2
97. 2
151.6
113.5
130.7
151.8
81 .3
98 .6
92 .6

99 .3
97. 4
130.8
124.4
135.3
133.7
77.1
104.0
87 .4

107.0
103.6
159.3
117.2
145.2
275 .6
81 .5
91.2
94. 4

20.3
21 .9
16.6
11.2
-5.9
201.4
28.8
28.8
- 5 .1

-10.9
-5. 1
1.5
-39.4
20.9
33. 0
-20.8
-0.4
-7.4

NONDURABLES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
FOOD, BEVERAGES, AND
TOBACCO
PAPER AND PR INTI NG
T E X T I L E , APPAREL, AND
LEATHER

105.5

117.3

120. 1

-4.8

-1.6

100.7

114.2

117.7

-5.6

-4.6

121.0
126.4

131.7
124.2

147.0
125.3

8.5
3. 3

8. 1
9. 1

94. 1

88 .4

94 .0

2.2

5. 9

189.3

187.3

190.0

51. 0

0.8

U N I T E D STAT E S
TOTAL MANUFACTURING AND MINING
EIGHTH DISTRICT
TOTAL MANUFACTURING AND MINING
MANUFACTURING

MINING




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

25

PRODUCTION AND PRICE INDICATORS

vs

VALUE OF C O N S T R U C T I O N CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX: 1974-100

RESI DENTI AL B UI LDI NG

LATEST DATA PLOTTED: 4TH OUARTER
_U 4TH QUARTER OATAt 643.3
II 4TH QUARTER OATA: 389.3



NONRESI DENT IAL BUI LDI NG
ARKANSAS

330
250
170
90
10

MISSISSIPPI

JJ

TENNESSEE-WEST

330
250
170
90
10

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

26

PRODUCTION AND P R IC E INDICATO RS

VALUE OF C O N S T R U C T I O N CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX: 1974-100_____

TOTAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: 1N-KY
LOUISVILLE: K Y -IN
M ISSISSIPPI
MISSOURI - EAST
ST. LOUIS : M O - 1L
SP RI NG FI ELD : MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS
RE SIDE NT IAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: 1N-KY
L O U I S V IL L E : K Y - I N
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS: MO- 1L
SPRI NGF IEL D: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS
NONRES1DENT 1AL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: 1N-KY
L O U I S V IL L E : K Y - I N
M IS SISSIPP I
MISSOURI - EAST
ST. LOUIS : M O - 1L
SPRING FIE L D: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS

COMPOUNDED ANNUAL
______ RATES OF CHANGE______

3RD
QUARTER
1980

4TH
QUARTER
1980

5
2
2
2
3

191 . 1
237. 0
181 . 1
168. 2
112. 3

17. 0
42. 9
9. 8
5. 9
5..5

-0 .,5
-7 . 0
18.,5
-10. 0
-3 5. 0

141 . 2
70. 6
183. 8
301 . 0
171 . 4
189. 3
170. 0
158. 1
243. 4
198. 2
207. 4

144. 5
171 . 5
189. 1
257. 2
113. 8
393. 3
306. 1
280. 6
127. 5
147. 7
1 18. 9

-30. 3
51 . 1
28. 2
48. 0
0..7
182. 5
41 . 1
52. 1
-21 . 8
-15. 6
-3 3 . 7

57. 0
94. 7
-2 9 . 6
- 14 . 0
- 29 . 0
-30 . 8
34. 2
32.,2
-2 2. 2
63. 9
71 . 3

208.,7
208. 0
166. 8
213. 2
130. 7

210.
190.
143.
184.
130.

2
5
2
9
7

14. 6
16. 7
3..6
20., 1
29., 4

-9. ,3
-24 . 9
-1 8. 0
- 34 . 2
-5 4. 1

169.
206.
204.
166.
160.
227.
182.
146.
194.
216.
207.

138.
187.
189.
249.
95.
197.
215.
153.
163.
158.
152.

8
2
6
6
8
1
3
6
3
0
9

28. 6
8..0
21 . 9
75..4
-2 7 . 8
35.,2
-3 . ,6
0 .7
- 10 . 8
15..0
10. 9

-31 . 1
3 .6
-29 . 0
-50. 6
-10..2
-41 . 9
7 .3
-7 .0
-40,. 4
-10,.8
-3 .0

158..0
155..2
185..3
134. 9
1 12.,7

171 . 8
289..5
218..5
146.. 4
76 .7

20.. 1
71 ,. 7
14..3
-11 . , 4
-32 . .4

14 .0
25 .7
73 .8
62 .9
95 .4

101 . 3
15 .5
159..2
455..2
183.. 1
140..8
158..4
169..3
295..6
180..8
207 .6

152..7
165..2
188..6
265..9
132..5
643..3
389..3
397..2
88 .8
138..0
90 .2

-56 . .4
85 .2
36 .6
26 .7
43 . 1
392..6
84 .4
85 .6
-37..3
-34,.6
-57,.9

260 .9
528 .2
-30..4
103. 4
-45. 8
-5 . 4
77 .4
82 .7
J4 .9
244,.8
*93..3

183.
183.
176.
179.
125.

0
4
7
4
2
4
7
0
8
1
2

4TH OTR 1979
4TH QTR 1980

4TH QTR 1978
TO
4TH QTR 1979

K USED WITH THE PERMISSION OF DODGE CONSTRUCTION
POTENTIALS, MCGRAW-HILL INFORMATION SYSTEMS COMPANY




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

27

PRODUCTION AND PRICE INDICATORS

H O U S IN G P E R M I T S
SEASONALLY ADJUSTED
INDEX: 1974-100
1974-100




1974-100

ARKANSAS

MISSISSIPPI

MISSOURI

28

PRODUCTION AND P R IC E IND ICATO RS

HOUSING PER M ITS
SEASONALLY ADJUSTED
__________INDEX: 1974-IOO_______

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
LITTLE ROCK-NORTH
LITTLE HOCKt AR
KENTUCKY
LOUISVILLE: KY-IN

M IS S IS S IP P I
MISSOURI
ST. LOUIS: M O - 1L

TENNESSEE
MEMPHIS: TN-AR-MS

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS EN0IN6 DECEMBER 1980
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
3 MONTHS

OCTOBER

NOVEMBER

DECEMBER

1980

1980

I960

123.3

105.8

111.9

-24. 1

-3.0

116.5

112.4

112.2

-29.8

5,4

98.9

86.3

96.7

-32.7

-13 .1

149,2

96.7

112.5

-73.8

20.0

1IB.3

48.9

75.3

-92.7

-17.4

92.3
59.8

• 1.5
79.8

96.5
42.6

-20.8
-72.8

-25.0
-44.1

142.9

835,0

143.4

99.2

95.3

102.1
137.8

11$.3
90.9

89.9
92.6

-20. 1
114.5

-2.5
-11.6

108,4

87.4

124.1

94.5

161.1
183.2

-52.5
-30.0

-2.9
15.7

______________________ _____________________________________________________ STATE SUMMARY—HOUSING PERMITS_____________________________________________________________________________
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

I N I T I A L QUARTER

UtUHTFR

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1—77

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

I VTA* 100
3 -7 8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0

-9 3 .7
J -7 0

-9 *2

# -7 0

2 9 *3

1 -7 7

1 5 *6

10# .0
8 2 .0

1 20 .6

1 1 6 .7 1 5 8 .0
5 6 .9

4 5 .7

1 53 .1
-1 7 .8

145 .8

2 -7 7

2 1 .7

5 5 .0

4 6 *9

1 0 .9

4 9 .4

3 -7 7

2 2*6

6 8 .9

41 #6

1 6 .0

3 7 .7

# —77

1 5 .6

3 4 *4

2 6 *5

5 .8

1 5 *1

1 -7 8

7 .8

2 1 .7

1 3 .8

-3 * 4

2 -7 8

1 0 *0

2 2 .6

1 5 *9

1 *4

5 *9

1 6 1 .2
2 6 .9

171 .1

1 *9 - 1 9 . 6

1 6 2 .0

9 *5 -1 1 *9 -2 4 *4 -5 2 *9
- M

- i 1 .3

-M >

1 4 6 .6
1 5 6 .4

2 9 .5

3 -7 8

7 *#

1 8 .0

1 1 .9

-0 *9

2 *3

-5 *1

-5 1 *4

-9 *9

6 *9 -1 3 .3

4 -1 8

7 *3

1 6 .7

1 1 .0

-9 .1

2 *9

-3 * 5

-4 *6

-5 *6

5 .4

1 -7 9

-# •9

1 .5

-4 .3

2 -7 9

-0 .3

6 .2

1 .2

3 -7 9

0 *7

6 .9

2 .2

# -7 9

-# •1

1 .1

-5 .4

- 1 1 .8 - 1 0 * 4 - 1 4 . 8

-1 4 .5

- 1 8 .4 -1 6 .1

1 -8 0

-9 .2

-5 * 0

-9 .3

-1 6 .3 -1 6 .2 -2 0 .5

-2 4 .1

-2 4 .6 -2 3 .5

5 .4

1 5 2 .9

-1 4 *3 -1 3 .8

-2 9 *3 -2 6 .3

-2 7 .5 -2 6 .1

-3 8 .7 -4 8 .5

-7 4 .8

-7 * 9

-6 .7

—1 2 . 4 - 1 6 . 5

-1 6 .0 -1 2 .1

-2 0 .3 -2 2 .5

-3 3 .5

7 5 .8

-6 *9

-4 .7

-1 4 .4 -2 0 .2

4 2 .1

1 4 .9

-2 1 .9 -2 3 .5 -2 9 .4

—0 . 5

-2 5 .1

-5 1 .2

-2 9 .0 - 3 1 .4 -3 7 .0

-2 0 .8

-3 9 .3

-5 5 .8

-2 6 .4 -2 8 .1

-1 7 .8 -3 2 .0

-9 .4

-1 5 *4 -1 9 .3

-1 3 .1

-1 2 .2

-8 .1

-1 4 .2

-2 2 .5 -2 2 .8 -2 1 .6

2 -8 0

-8 *9

-5 .0

-9 .0

-1 5 .5

3 -8 0

-0 .3

# •3

0 .7

-5 .4

-4 .5

-7 .7

-1 0 .1

-9 .2

—6 . 4

# -8 0

-2 .2

2 .0

-1 .4

-7 * 2

-6 .4

-9 .5

-1 1 .8

-1 1 .1

-8 .8

1 -7 6

2 -7 6

3 -7 6

4 -7 6

l-7 .7 _ _ 2 - 7 ?

3 -7 7

4 -7 7




1 5 0 .9

-# •4

-9 .7

Ir lS .

-3 2 .5

1 0 8 .3
1 2 4 .7
1 29 .1
1 0 7 .9
-6 0 .0

-4 2 .9 -3 8 .2

8 5 .8

-1 1 .2

9 .6

-0 .3

-3 .8

2 0 .6

1 0 9 .5

-1 2 .0 -1 1 .8

-1 3 .8

2 .8

—6 .0

-9 .7

5 .4

4 5 .6

6—78

1 -7 9

Iris .

IN IT IA L

3 -7 6

_2r?9._ 3 -7 9

8 4 .8

-4 .6

-9 .3

4 -7 9 __lrSJft.

1 2 4 .2

3 6 0 .2
7 9 .8 - 2 9 . 8

2 —80

3 -8 0

QUARTER_________________________________________________________________________

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

29

1 1 3 .7

PRODUCTION AND P R IC E INDICATO RS

PRICES

RECEIVED

BY FARMERS -

UNITED

STATES

NOT SEASONALLY ADJUSTED

CORN

BEEF CATTLE
3 50
270
190

no
30
35 0
270
190
I 10
30

SOYBEANS

HOGS
35 0

—

27 0
190

no
I

lL i JIx l Lll

■i i h i l n l n

iilnlnln

11111111111.

30

MILK

TOBACCO

350
__

— 270
190
110

J 1111111111 11111111111 11111111111 11111111111 1111111111l
1976
1977
1978
1979
1980
LATEST DATA PLOTTED: DECEMBER



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

30

30

PRODUCTION AND PRICE INDICATORS

PRICES RECEIVED

BY FARMERS -

UNITED

ST A T E S

NOT SEASONALLY ADJUSTED
INDEX: 1971-100

ALL F ARM P R O D U C T S
ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON

L I V E S T O C K AND L I V E S T O C K
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
M ILK.
TURKEYS

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 1
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
___ 3 M O N TH? ___

OCTOBER
1980

NOVEMBER
1980

DECEMBER
1980

230.7
240.9
235.8
205.4
261.3
196.9
308.6

234.3
251.2
244.5
218.6
278.3
218.3
318.5

235.1
253.0
251.6
246.9
265.4
227.2
331.6

13.8
29.4
31.9
61.0
46.0
46.2
9.4

10.7
19.4
31.5
20.5
25. 1
8.7
28.4

223.7
213.2
230.4
263.3
233.3
218.6

221.1
206.3
219.5
254.4
238.4
223.6

220.3
206.0
215.9
244.9
240. 1
206.2

2.6
-19.5
-14.7
9.7
37.6
93.2

3.8
-6.0
28.4
29.2
9.2
8.6

COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
__ QUARTER________
1 -7 6
2 -7 6

1971=100

IN I T I A L QUARTER
2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

1—79

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0
170.4

1 3 *7

3 -7 6

2 .9

4 -7 6

-6 .9

1 -7 7

0 .4

-6 .9

1 67 .4

—1 5 .8 - 2 3 . 8
-3 .7

1 56 .4

-2 .1

2 5 .7

1 65 .6

2 -7 7

1 .6

-1 .2

0 .7

1 5 .8

3 -7 7

-3 .5

-6 .6

-6 .5

0 .1

4 -7 7

-2 .1

-4 .5

-4 .0

1 .7

-5 .2

-1 0 .6

6 .8

1 -7 8

1 .9

0 .3

1 .5

7 .6

3 .4

2 .4

1 9 .8

3 4 .4

2 -7 8

6 .3

5 .4

7 .3

1 3 .6

1 1 .3

1 2 .5

2 8 .9

4 1 .6

4 9 .1

3 -7 8

5 .6

4 .8

6 .3

1 1 .5

9 .3

9 .9

2 1 .0

2 6 .1

2 2 .1

0 .0

4 -7 8

5 .9

5 .2

6 .6

1 1 .2

9 .3

9 .7

1 8 .5

2 1 .6

1 7 .6

4 .4

6 .7

.3

168

-1 0 .7 -2 5 .2

156.5
159 .1
171*3
1 89 .3
1 8 9 .3
6 .9

1 9 3 .4

1 -7 9

8 .8

8 .4

1 0 .1

1 4 .6

1 3 .3

1 4 .3

2 2 .7

2 6 .1

2 4 .2

1 6 .8

2 6 .3

4 6 .3

2 -7 9

8 .8

8 .4

9 .9

1 4 .0

1 2 .8

1 3 .6

2 0 .6

2 3 .0

2 0 .9

1 4 .7

2 0 .0

2 6 .0

8 .5

3 -7 9

7 .7

7 .2

8 .5

1 2 .0

1 0 .7

1 1 .2

1 6 .8

1 8 .3

1 5 .8

1 0 .1

1 2 .8

1 4 .2

0 .8

-6 .3

4 -7 9

6 .8

6 .3

7 .4

1 0 .5

9 .2

9 .4

1 4 .2

1 5 .1

1 2 .6

7 .5

9 .0

9 .0

-1 .1

-5 .6

-5 .0

1—80

6 .2

5 .7

6 .6

9 .4

8 .2

8 .3

1 2 .4

1 3 .1

1 0 .6

6 .0

7 .1

6 .7

-1 .4

-4 .5

—3 .6

-2 .3

212 .7
2 1 7 .1
~

2101*9
2 0 9 .7

2 -8 0

4 .9

4 .3

5 .1

7 .6

6 .3

6 .3

9 .7

1 0 .0

7 .6

3 .3

3 .8

2 .9

-4 .0

-7 .0

-7 .2

-8 .3

-1 3 .9

3 -8 0

7 .2

6 .9

7 .8

1 0 .3

9 .3

9 .5

1 3 .0

1 3 .6

1 1 .7

8 .2

9 .3

9 .3

4 .1

3 .3

5 .8

9 .7

1 6 .2

5 6 .7

4 -8 0

7 .6

7 .2

8 .1

1 0 .5

9 .6

9 .8

1 3 .1

1 3 .6

1 1 .9

8 .7

9 .8

9 .9

5 .5

4 .9

7 .3

1 0 .7

1 5 .3

3 3 .5

13. 8

1 -7 6

2 -7 6

3*-76

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

.3 -7 9

4 -7 9

1-Qfi..

2 -8 0

3 -8 0




2 0 2 .0
2 2 6 .0
2 3 3 .4

______________

IN IT IA L QUARTER

PREPARE!) BY FEDERAL RESERVE BANK OF ST. LOUIS

31

213^6~

PRODUCTION AND P R IC E INDICATO RS

Farm Land V a l u e s
1967=100
460

1967=100

420
380
345
300
260
220

180
140
100

60

November
1977

Compounded Annual
Index 1967 = 100________________ ____________ Rates of Change
February 1979
February 1979
November February November February
to
to
1978
1979
1979
1980
November 1979
February 1980

United States

296

332

351

379

401

10.8

14.2

CMV State Summary

325

367

389

421

442

11.1

13.6

250
372
351
304
232
301
288

290
417
397
334
274
343
325

316
441
415
374
279
364
338

348
459
432
404
324
408
368

379
476
477
415
338
440
375

13.7
5.5
5.5
10.8
22.1
16.4
12.0

19.9
7.9
14.9
11.0
21.1
20.9
10.9

Arkansas
Illinois
Indiana
Kentucky
Mississippi
Missouri
Tennessee




.

32

PRODUCTION AND P R I C E

INDICATORS

Consumer Price Index-All Items*

* A11

U r b a n

D a t a

a r e

C o n s u m e r s
q u a r t e r l y

f r o m

M a r c h

1 9 7 4

t h r o u g h

M a r c h

1 9 7 8 ;

t h e r e a f t e r ,

d a t a

a r e

b i- m o n t h l y .

ST. LOUIS

UNITED STATES

Percent Change to
November 1980
Index
1967 = 100
November 1980
All Items
Food
Housing
Apparel and
Upkeep
Transportation
Medical Care
Entertainment




From Two
Months Ago
(Annual Rate)

From
Previous
Year

Percent Change to
November 1980
Index
1967 = 100
November 1980

From Two
Months Ago
(Annual Rate)

From
Previous
Year

253.8
263.3
269.8
177.8

3.4
5.9
-1.8
-7.7

12.5
11.4
14.8
6.5

256.2
264.5
273.8
184.8

11.2
8.1
14.5
8.9

12.6
10.6
13.7
7.6

249.6
252.8
214.5

15.4
14.7
0.8

12.3
12.4
6.3

259.0
274.5
211.2

10.6
9.0
4.1

15.2
10.7
9.5

33

F I N A N C I A L INDICATORS

M E T R O P O L I T A N MEMBER BANK DATA-"
SEASONALLY ADJUSTED
INDEX: 1974-100

EVANSVILLE:

IN-KY

—

—

-ill I I 1 1 1 1 1 1 -L.J

LITTLE

ROCK -

NORTH L I T T L E

LOUISVILLE:

ST.

LOUIS:

1 1 1 1 II 1 1 1

ij

.1i

ROCK:

i L iJ it

■ ■ 1■ ■ 1■ ■ 1■ I - L i l l i

L u lu

AR

KY-IN

MO-IL
210

170
130
90
50
LATEST DATA PLOTTED: SEPTEMBER
JJ4TH QUARTER NOT AVAILABLE



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

34

FINANCIAL INDICATORS

M E T R O P O L I T A N MEMBER BANK DATA-11
SEASONALLY ADJUSTED

TOTAL LOANS
„
UNITED STATES* *
*
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEV1LLESPRINGOALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
TEXARKANA: AR
TOTAL DEPOSITS
UNITED STATES * *
w
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEV1LLES P R 1NGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
TEXARKANA: AR

COMPOUNDED ANNUAL
RATES OF CHANGE
__________INDEXi 1974-100_______
3 MONTHS ENDING SEPTEMBER 1980
FROM SAME
AUGUST
SEPTEMBER FROM PREVIOUS
MONTHS A
JULY
YEAR AGO
1980
3 MONTHS
1980
1980
176. 1
157.3
194. 1
189.7

177.6
160.4
195.4
195.8

178. 1
158.4
191.1
192. 1

5.4
7.7
5. 1
-3.3

6.7
0.4
4.9
0.9

188.9
197.0

188.5
201 .4

189.9
198.3

-6.5
11.6

-1 7.7
8.9

179.5
184.4
112.6
180. 1
152.8
133. 1
209.3

172.6
185.5
112.3
170.5
161 .7
145.7
208.4

172.4
186.2
114.4
168.6
155.8
145.7
206.5

19.2
4.0
9.0
11.0
11.2
43.9
-1.0

-6.9
4.3
1.8
2. 1
-0.6
5.0
10.3

159.4
140.5
209.9
184.3

161.2
144.9
207.9
188.0

161.7
145.6
211.0
189.4

10.3
12.0
10. 1
6.9

7.9
2.9
14. 1
8.3

171.7
187.0

172.8
191 .0

177.1
195.5

13.2
17.4

-8.5
12.6

154.6
174.4
119.2
158. 1
121.2
124.0
184.0

159.6
178.7
123.5
159.8
126.5
130.0
186. 1

161.7
177.7
128.0
164.8
125.2
136.0
187.5

28.0
0.9
20.0
12.9
8. 1
39. 1
7.7

4.5
8.5
6.8
0.3
-3.4
4.9
8.4

AVERAGE NUMBER OF MEMBER BANKS
STATE SUMMARY
(EIGHTH DISTRICT ) w
METROPOLITAN SUMMARY*
NONMETROPOLITAN SUMMARY
ARKANSAS
FAYETTEV1LLES P R 1NGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
TEXARKANA: AR
NONMETROPOLITAN AREAS
KENTUCKY
LOUISVILLE: KY-IN
NONMETROPOLITAN AREAS
ILLINOIS
NONMETROPOLITAN AREAS
INDIANA
EVANSVILLE: IN-KY
NONMETROPOLITAN AREAS
MISSISSIPPI
NONM£TROPOL1TAN AREAS
MISSOURI
COLUMBIA: MO
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
NONMETROPOLITAN AREAS
TENNESSEE
MEMPHIS: TN-AR-MS
NONMETROPOLITAN AREAS

JULY
1 M
387.20
116.00
269.20
72.00

AUGUST
1980

SEPTEMBER
1980

SEPTEMBER
1979

387.00
116.00
269.00
72.00

387.00
116.00
269.00
72.00

396.00
120.00
274.00
74.00

5.00
3.00

5.00
3.00

5.00
3.00

6.00
3.00

7.00
4.00
3.00
48.00
40.00
9.00
30.00
119.20
96.20
38.00
12.00
25.00
17.00
16.00
87.00
4.00
56.00
5.00
45.00
14.00
8.00
9.00

7.00
4.00
3.00
48.00
40.00
9.00
30.00
119.00
96.00
38.00
12.00
25.00
17.00
16.00
87.00
4.00
56.00
5.00
45.00
14.00
8.00
9.00

7.00
4.00
3.00
48.00
40.00
9.00
30.00
119.00
96.00
38.00
12.00
25.00
17.00
16.00
87.00
4.00
56.00
5.00
45.00
14.00
8.00
9.00

7.00
4.00
3.00
49.00
40.00
9.00
30.00
126.00
100.00
38.00
12.00
25.00
17.00
16.00
87.00
4.00
60.00
4.00
45.00
14.00
8.00
9.00

3K EXCLUDES BANKS IN TWO METROPOLITAN AREAS
* * DATA ARE FOR ALL COMMERCIAL BANKS;
ESTIMATED FOR JULY AND AUGUST.
_U 4TH QUARTER NOT AVAILABLE




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

35

FINANCIAL INDICATORS

N O N M E T R O P O L I T A N MEMBER BANK DATA-“
SEASONALLY ADJUSTED
INDEX: 1974-100

1974-100

TOTAL LOANS

210

170

1

TOTAL DEPOSITS

1974- 1oo

1

SMSA'S
NON- SMS A 1S

_

130

V -------""

mm + r

_______ _______

90
50

m

I

m

I

m

I m ■11■■1n 1■■ ■ l l l i l l i l Ll | l l l l l l l l l l l - l l i i l l l l l l l

1976

1977

1978

1979
1980
NONMETROPOLITAN ARKANSAS
210

NONMETROPOLITAN KENTUCKY

170
130
90
50

NONMETROPOLITAN M IS S IS S IP P I

NONMETROPOLITAN MISSOURI
210

NONMETROPOLITAN TENNESSEE

LATEST DATA PLOTTED; SEPTEMBER
JJ 4TH QUARTER NOT AVAILABLE



36

170
130
90
50

FINANCIAL INDICATORS

N O N M E T R O P O L IT A N MEMBER BANK DATA-1'
S E AS O NA LL Y AD JU S TE D

JULY
1980

TOTAL LOANS
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINO IS
INDIANA
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE
TOTAL D E P O S I T S
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINO IS
INDIANA
KENTUCKY
M ISSISSIPPI
MISSOURI
TENNESSEE

COMPOUNDED ANNUAL
RATES OF CHANGE
INDEX: 1974-100_______ 3 MONTHS ENDING SEPTEMBER 1980
FROM SAME
MONTHS A
AUGUST
SEPTEMBER FROM PREVIOUS
1980 ____ 3 MONTHS__
YEAR AGO
1980

183.5

184.8

184.5

3.3

4.3

162.9
209.6
178.7
203.3
177.6
174.4
174.5

161.1
210.5
185.4
201.9
177.2
178.5
175.7

161.9
207.9
185.0
205.8
178.6
176.8
174.5

-2.7
-1.5
8.3
6.8
-0.9
12.4
16.4

1.6
3. 1
4.0
6. 1
3.9
7.9
7.7

160.8

163.5

165.6

11.8

7.3

150.2
166.6
151.0
186.3
175.9
153. 1
152.8

152.4
168.8
153.8
187.9
177.3
157. 1
154.2

154. 1
170.3
156.2
192.1
179.5
160.3
156.0

16.2
6.9
11.1
17.1
11.3
17.8
7.3

6.5
6.5
5.2
9.7
8. 1
10.4
4.8

MEMBER BANK DATA BY STA TE
SE AS O NA LL Y AD JUS TED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING SEPTEMBER 1980
___________ INDEX: 19 7 4-1 00
FROM SAME
JULY
MONTHS A
AUGUST
SEPTEMBER FROM PREVIOUS
3 MONTHS
YEAR AGO
1980
1980
I960

TOTAL LOANS
STATE SUMMARY
(EIGHTH D IS T R IC T )
ARKANSAS
ILLINO IS
INDIANA
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE
TOTAL D E P O S I T S
STATE SUMMARY
(EIGHTH DISTRICT )
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
M ISSISSIPPI
MISSOURI
TENNESSEE
_Ll 4TH QUARTER NOT AVAILABLE



164.3

167.2

165.2

5.8

1.6

175.3
181.0
180. 1
189.7
179.9
157.2
119.4

171.6
181.4
185.5
190.4
179.3
167.3
119. 1

171 .0
178.4
183.3
191.0
180.3
161.9
121.0

4.3
-0.9
2.7
3.0
-2.4
12.5
10.7

-2.0
0. 1
2.8
4.5
4.5
1.4
2.8

147.3

151.2

152.2

11.4

4.4

157.4
146.2
163.0
178.6
177.4
129.9
123.8

160. 1
147.6
167.2
182.3
178.8
136.0
127.5

162.4
148.0
168.4
182.8
181.3
136.5
131.5

18.0
4.8
8.9
4.5
12.0
11.5
19.3

4.7
2.1
7.4
8.5
8. 1
0.5
6.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

FINANCIAL INDICATORS




S A V I N G S AND LOAN A S S O C I A T I O N DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

KENTUCKY

MISSOURI

38

FINANCIAL INDICATORS

S A V I N G S AND LOAN A S S O C I A T I O N DATA
SEASONALLY ADJUSTED
INDEX: 1974-100_______

TOTAL SAVINGS
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

MORTGAGE LOANS OUTSTANDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 1980
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

OCTOBER
1980

NOVEMBER
1980__

DECEMBER
1980__

213.6
213.5
205.7
236.6
229.9

215.7
215.8
207.5
239.2
234.9

218.2
217.9
208.5
242. 1
235.6

12.2
12.4
11.6
13.4
17.4

8.3
8.0
8.2
7.4
11.7

219.0
199.9
203.7
179. 1
263. 1
202.9
211.9
176.7
216. 1
200.8

221.2
198.9
204.6
180.4
266.7
204.6
213.6
178.9
218.3
202.1

223.0
198.1
207.6
180.4
272.6
206. 1
214.7
181.9
221.2
203.6

12.7
27.2
11.3
12.2
16.8
10.9
10.2
12.8
12.6
10. 1

8.9
4.0
7.5
5.8
9.3
7.9
8.7
4.6
8.6
8. 1

205.0
204.4
195. 1
212.9
226.3

206.5
205.6
196.5
214. 1
227.7

208. 1
206.4
197.7
215.2
230.8

10.5
8.8
9.5
7.2
11.4

5.4
3.8
4.4
2.9
6. 1

194.5
172.7
201.8
182.6
228.8
197.3
200.0
189.6
209.3
178.7

195.0
179.4
203.2
183.9
230.3
198. 1
201.4
188.2
210.8
180.8

196. 1
184.8
204.8
186. 1
231 .7
198.5
202.9
187.3
212.0
181.6

7.5
23.8
11.1
14.4
8.8
8. 1
10.4
-1 .7
8.2
2.9

5.6
9. 1
4.7
5.2
3.4
3.7
4.5
0.6
4.0
1.5

NUMBER OF SAV1NGS AND LOAN ASSOC 1AT 1ONS

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS




OCTOBER
1980

NOVEMBER
I960

DECEMBER
1980

DECEMBER
1979

4,006
401
83
75
4

4,004
401
87
62
4

4,006
387
84
62
4

4,039
419
86
76
4

7
3
86
9
59
NO
51
5
71
4

7
3
88
10
59
110
53
5
82
5

7
3
81
8
59
110
53
5
75
4

7
3
91
11
59
113
50
5
80
6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

39




POPULATION
Bureau of the Census
Compounded Annual
Rates of Change
T97(T
I960
to
to
1978
1970

__ 1970____

1978*

204,878,000

218,548,000

.8

1.3

15,964,668

17,305,000

1.0

.8

CMV Metropolitan Areas

5,655,075

5,912,900

.6

1.3

Arkansas
FayettevilleSpringdale: AR
Fort Smith: AR-OK
Little Rock-North
Little Rock: AR
Pine Bluff: AR
Texarkana: AR-TX

1,923,322

2,186,000

1.6

.7

127,846
160,421

160,500
190,400

2.9
2.2

3.3
1.7

323,296
85,329
113,488

376,400
85,900
118,700

1.9
.1
.6

1.7
.5
1.2

Kentucky
ClarksvilleHoplinsville: KY-TN
Evansville: IN-KY
Louisville: KY-IN
Owensboro: KY

3,220,711

3,498,000

1.0

.6

118,945
284,959
867,330
79,486

147,700
294,800
887,300
81,100

2.7
.4
.3
.3

.6
.5
1.4
1.2

Mississippi

2,216,994

2,404,000

1.0

.2

Missouri
Columbia: MO
St. Louis: MO-IL
Springfield: MO

4,677,623
80,935
2,410,884
168,053

4,860,000
90,600
2,385,900
204,800

.5
1.4
-.1
2.5

.8
3.9
1.2
1.9

Tennessee
Memphis:

3,926,018
834,103

4,357,000
888,800

1.3
.8

1.0
1.4

United States
CMV States

♦Provisional

TN-AR-MS


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102