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SELECTED ECONOMIC INDICATORS
CENTRAL M ISSISSIP P I VALLEY
3RD QUARTER 1977
STATE ACTIVITY

SUMMARY D IS C U SSIO N page 3

METROPOLITAN AREA ACTIVITY
page

page

page

SUMMARY

4

SU M M ARY

16

EVANSVILLE

26

ARKANSAS

6

ST. LOUIS

18

SPRINGFIELD, M O

28

KENTUCKY

8

LOUISVILLE

20

FORT SMITH

30

MISSISSIPPI

10

MEMPHIS

22

PINE BLUFF

32

MISSOURI

12

LITTLE ROCK

24

TENNESSEE

14




FARM REAL ESTATE VALUES
page 34

Prepared by Federal Reserve Bank of St. Louis
Released: N o v e m b e r 7, 1 9 7 7

DATA

Federal Reserve member banks only and are averages of
data for the last Wednesday of the preceding month, the
Wednesday on or preceding the 15th of the current
month, and the last Wednesday of the current month.
Data are collected by this Bank and the Board of
Governors of the Federal Reserve System. The Fort
Smith SMSA data cover only those counties within the
Eighth Federal Reserve District.

Selected economic data are provided for five
states, seven Standard and one Nonstandard Metropolitan
Statistical Areas which are entirely or partially
within the Eighth Federal Reserve District. Also
included are farm real estate values for seven Eighth
District states.
Data are presented in both unadjusted and
seasonally adjusted index form. Index numbers are on a
1971=100 base. The latest data in most series are
preliminary and are revised as the final figures are
received.

All banking data remain on the Standard
Metropolitan Statistical Area definitions prior to the
April 1973 announcement.

Manpower Utilization

Income

Basic employment data are from the respective
State Employment Security Office and the United States
Department of Labor. All manpower data for
metropolitan areas are based on the redefinition of
SMSA areas announced in late April 1973, except for
Memphis which is a Nonstandard Metropolitan Statistical
Area. Memphis data include Shelby and Tipton Counties
in Tennessee and Crittenden County, Arkansas, but
exclude De Soto County, Mississippi.

State personal income figures are annual
rates of monthly figures published by Business Week.
United States data are from the Department of Commerce.
Farm cash receipts are annual rates of
monthly figures published by the United States
Department of Agriculture.

The Federal Reserve System has discontinued
the collection of "check payments" or "debits" data on
a local basis as of the end of June. As a result, this
is the last release in which these data will be
contained. Replacing the local series is a national
debits series based on a national sample of banks which
will be published in the Federal Reserve Bulletin and a
monthly press release.

Total employment and unemployment series are
household (place-of-residence) data; payroll employ­
ment, nonmanufacturing and manufacturing employment are
establishment (place-of-work) data.
Banking Activity
Total loan and total deposit data are for




2

SUMMARY OF CENTRAL MISSISSIPPI VALLEY ECONOMIC ACTIVITY

area rose somewhat in the third quarter. Unemployment
in the five CMV states averaged 5.4 percent of the
labor force in the third quarter, up from 5.1 percent
in the second quarter, but still down from 6.2 percent
registered in the third quarter of 1976. A similar
unemployment pattern was observed in CMV cities. The
U.S. unemployment rate remained unchanged at 7 percent
of the labor force in the third quarter.

Economic activity in the Central Mississippi
Valley (CMV), as measured by employment, continued up
through the third quarter of 1977. Payroll employment
in the first three quarters of 1977 increased at a 3.7
percent rate in the CMV states and at a 2.3 percent
rate in the CMV cities. These gains compare with 3
percent and 1.4 percent rates for CMV states and cities
in 1976. Since the beginning of the current business
expansion in the second quarter of 1975, payroll
employment has increased at: a 3.6 percent rate in the
CMV states, at a 2 percent rate in the CMV cities, and
at a 3.4 percent rate for the nation as a whole.

The growth of personal income in the CMV
states has been substantially affected by a large
upward movement in farm cash receipts from the last
half of 1976 to the first half of 1977.
Smoothing out
these movements by using four quarter averages shows
that personal income in the four quarters ending in the
second quarter of 1977 was 9.4 percent above the
previous four quarter average.
In the same period,
U.S. personal income increased 10.3 percent.
In the
latest four-quarter period farm marketings in the CMV
states were almost 7 percent above the previous year.
U.S. farm cash receipts declined slightly in this
period.

Gains in employment have not been evenly
distributed so far this year, as substantial gains
which occurred in the first two quarters were followed
by little gain in the third quarter. Payroll
employment in the CMV states increased only 0.3 percent
in the third quarter, whereas such employment increased
at a substantial 5.4 percent rate in the first half of
the year. U.S. payroll employment also slowed in the
third quarter, but only from a 4.5 percent rate in the
first half to a 3.2 percent rate in the third quarter.
An uneven growth pattern was also observed in 1976.
Payroll employment in the CMV states registered a 5.4
percent rate of gain in the first half of 1976 followed
by a 0.7 percent rate of gain in the second half of
that year.

Banking activity in the CMV metropolitan
areas continued to expand in the third quarter. Member
bank deposits in the CMV cities increased at a 7.4
percent rate in the third quarter and total loans
increased at a 13.6 percent rate. Growth of loans and
deposits were slightly above their growth of the
previous year.

With slower growth in employment and some
growth in the labor force, the unemployment rate in the




3

CENTRAL M I S S I S S I P P I

VALLEY STATE SUMMARY

III

1976
IV

1

1977
11

1 11

JUL

1977
AUG

SEP

110.3
111.0

110.8
111.4

113.3
112.5

113.9
114.2

113.4
114.8

113.1
114.5

113.2
114.7

114.0
115.2

115.1
111.9

115.7
112.5

117.9
113.6

118.8
115.0

118.9
115.9

118.6
115.7

118.6
115.8

119.4
116.2

118.9
115.2

119.6
115.9

121.3
117.1

122.1
118.4

122.6
119.5

122.0
119.1

122.3
119.5

123.5
119.8

106.6
102.3

105.8
102.5

109.5
103.8

110.8
105.4

110.5
105.6

111.0
105.6

110.0
105.6

110.7
105.6

6.2
7.8

6.1
7.9

5.7
7.4

5.1
7.0

5.4
7.0

5.4
6.9

5.5
7.1

5.4
6.9

167.4
162.3

167.9
166.7

177.9
171.9

187.3
176.6

N. A.
180.2

186.4
179.2

N. A.
180. 1

N. A.
181.4

182.4
179.4

172.2
170. 1

187.9
185.5

203.8
194.2

N. A.
N. A.

166.1
172.2

176.5
171.1

N. A.
N. A.

MANPOWER U T I L I Z A T I O N
JJ TOTAL EMPLOYMENT INDEX
C.M.V. STATES
UNITED STATES
PAYROLL EMPLOYMENT INDEX
C.M.V. STATES
UNITED STATES
NONMANUFACTURING EMPLOYMENT INDEX
C.M.V. STATES
UNITED STATES
MANUFACTURING EMPLOYMENT INDEX
C.M.V. STATES
UNITED STATES
JUNEMPLOYMENT RATE
C.M.V. STATES
UNITED STATES

INCOME
PERSONAL INCOME INDEX
C.M.V. STATES
UNITED STATES
FARM CASH RECEIPTS INDEX
C.M.V. STATES
UNITED STATES

J

DATA BEGINNING AUGUST 1977 ARE NOT COMPARABLE WITH PREVIOUS DATA
N.A. - NOT AVAILABLE

ALL




INDEXES:

1971-100

4

CENTRAL M I S S I S S I P P I
VALLEY STATE SUMMARY
1971-100
130

PAYROLL EMPLOYMENT

1971-100
130

125

PERCENTAGE CHANGE

125

SEASONALLY ADJUSTED INDEX

120

YEAR ENDING

115

115

SEPTEMBER 1977

110

110

120
/

—

^

105

105

100

100

95

■ 11111111111

111111111

1975

11

1 1 1 L i-l-l.L -1 - L I..

1976

1977

STATE
SUMMARY

95

+3.6

NONMANUFACTURING

+3.7

+3.8

MANUFACTURING

+3.7

+2.7

X +3.3

+3.8

+12.1

+11.1

TOTAL EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

PERSONAL INCOME * *
XX

130

u .s .

+3.7

TOTAL PAYROLL EMPLOYMENT

YEAR ENDING JULY

125

120

TOTAL EMPLOYMENT

PERSONAL

INCOME

115

1971- -100
195

110

190

105

185

100

180

95

175

1971-100

1971-100

MANUFACTURING EMPLOYMENT

1971-100

170
120

165

115

160

110

155

105

150

100

145

95

140

90

135

85

130

*DATA BEGINNING AUGUST 1977 ARE NOT COMPARABLE WITH PREVIOUS DATA,
C.M.V. STATES



U.S.

ALL DATA ARE SEASONALLY ADJUSTED

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ARKANSAS
1976
III

IV

1

1977
11

111

JU L

1977
AUG

SEP

827.6
113.7

814.2
115.6

796.6
117.5

854.3
119.0

870.7
119.5

863.9
118.6

872.3
119.5

875.9
120.5

662.8
119.4

670.9
121.5

667.2
123.9

692.9
125.8

701.2
126.4

694.5
125.6

700.6
126.1

708.6
127.5

463.6
121.7

472.1
124.6

467.3
125.9

483.6
127.7

487.8
128.0

482.7
126.7

487.3
127.8

493.3
129.6

199.2
113.9

198.7
115.0

199.9
119.5

209.3
122.2

213.5
122.0

211.8
122.1

213.3
121.7

215.3
122.3

57.7
7.5

57.7
7.1

63.4
6. 1

50.7
5.6

48.3
6.0

51.3
5.9

48.0
6. 1

45.7
6.2

10,684 11,832 10,956 11,768
180.5
197.8 209.9
179.0

N.A.
N.A.

11,712
199.5

N.A.
N.A.

N.A.
N.A.

N.A.
N.A.

1,661
202.7

1,506
212.2

N.A.
N.A.

MANPOWER U T I L I Z A T I O N
TOTAL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTUR1NG EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

INCOME
PERSONAL INCOME
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX
FARM CASH RECEIPTS
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

N.A.
ALL

1,753
198.8

4,107
188.7

- NOT AVAILABLE
INDEXES:




1971-100

6

1,781
219.4

1,982
240.5

ARKANSAS
PAYROLL EMPLOYMENT
PERCENTAGE CHANGE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977

+5.7

4-3.6

+5.0

4-3.8

MANUFACTURING

+7.2

4-2.7

TOTAL EMPLOYMENT
PERSONAL INCOME *
*

135

U.S.

NONMANUFACTURING

TOTAL PAYROLL EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

ARKANSAS

+5.2

4-3.8

+15.7

+11.1

YEAR ENDING JULY

130
125

TOTAL EMPLOYMENT




U.S.

INCOME

1971 -10 0
340

115

320

110

300

105

280

100

260

MANUFACTURING EMPLOYMENT

ARKANSAS

PERSONAL

120

1971-100

1971-100

1971-100

240

MO

220

130

200

120

180

110

160

100

140

90

120

80

100

TO

80
ALL DATA ARE SEASONALLY ADJUSTED

7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

KENTUCKY
1976
111

IV

1

1977
11

1 11

JUL

1977
AUG

SEP

MANPOWER U T I L I Z A T I O N
TOTAL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
N0NMANUFACT4JR1NG EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

1404.1
115.1

1432.8
117.1

1454.7
118.2

1138.4 1137.6
121.9
121.4

1167.8
123.7

1386.4 1326.8 1403.4 1436.6 1422.2
117. 1 117.7
117.7
114. 1 115.5

1123.5 1121.7 1098.9 1139.7 1147.9
119.7
122.3
118.9
120.5
122.4
848.1
123.7

852.4
123.8

828.1
124.5

861.0
126. 1

868.7
126.7

857.3
125.4

861.2
125.8

887.7
129.0

275.4
109.0

269.3
106.0

270.8
109.3

278.7
112.0

279.2
110.5

281.1
112.6

276.4
109.2

280.1
109.7

74.3
5.3

72.2
5.3

90.7
5.7

62.9
4.3

64.6
4.5

62.7
4.1

68.5
4.9

62.6
4.7

18,284 19,012 19,108 20,212
170.8
168.8
180.9
193.3

N.A.
N. A.

20,148
189. 1

N.A.
N.A.

N.A.
N.A.

N.A.
N.A.

1,082
171.2

997
176.5

N.A.
N.A.

INCOME
PERSONAL INCOME
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX
FARM CASH RECE IP TS
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

N.A.
ALL

1,174
191.2

2,768
173.7

- NOT AVAILABLE
INDEXES:




1971-100

8

2,034
244.4

1,091
208.9

KENTUCKY
1971-100

PAYROLL EMPLOYMENT

1971-100
130

PERCENTAGE CHANGE

125

SEASONALLY ADJUSTED INDEX

120

YEAR ENDING

115

SEPTEMBER 1977

110

KENTUCKY

U.S.

+3.3

4-3.6

NONMANUFACTURING

+4.2

4-3.8

MANUFACTURING

+1.1

4-2.7

TOTAL EMPLOYMENT

+3.0

4-3.8

PERSONAL INCOME *

+9.9

4-11.1

TOTAL PAYROLL EMPLOYMENT

105

100
95

NONMANUFACTURING EMPLOYMENT

*

130

YEAR ENDING JULY

125

MANUFACTURING EMPLOYMENT
125

120
115

110
105

100
95
90

KENTUCKY



U.S

ALL DATA ARE SEASONALLY ADJUSTED

9

PREPARED SY FEDERAL RESERVE SANK OF ST. LOUIS

M ISSISSIPP I
1976
III

IV

1

1977
11

111

JUL

1977
AUG

SEP

898.5
119. 1

885.4
119.3

886.3
123.9

918.6
123.7

933.3
123.7

929.7
123.5

930.9
123.4

939.2
124.1

732.8
122.6

739.8
123.3

741.4
127.3

757.9
127.8

765.3
128.0

762.4
128.3

764.3
127.8

769. 1
127.9

511.9
126. 1

519.8
127.3

521.1
131.1

531.9
131.3

536.2
132.0

534.9
132.3

534.8
131.7

539.0
132.0

220.9
115.2

220.0
115.1

220.3
119.3

226.0
120.0

229.0
119.4

227.5
119.9

229.5
119.3

230. 1
119.1

62.0
6.7

59.9
7.1

62.0
6.0

57.7
5.7

58.0
6. 1

60.2
5.5

57.5
6.1

56.2
6.5

N.A.
N.A.

11,460
190.0

N.A.
N.A.

N.A.
N.A.

N.A.
N.A.

1,057
164.6

1,031
175. 1

N.A.
N.A.

MANPOWER U T I L I Z A T I O N
TOTAL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

INCOME
PERSONAL INCOME
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX
FARM CASH RECEIPTS
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

N.A.
ALL

10,408
170.0
1,048
165.1

11,104 10,944 11,368
168.3
180.3
187. 1
2,999
167.3

- NOT AVAILABLE
INDEXES:




1971-100

10

1,348
161.7

1,103
178. 1

M ISSISSIPP I
PERCENTAGE CHANCE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977
MISSISSIPPI

NONMANUFACTURING EMPLOYMENT

+3.6

N0NMANUFACTURIN6

+4.9

+3.8

MANUFACTURING

+4.0

+2.7

TOTAL EMPLOYMENT

+5.1

+3.8

PERSONAL INCOME *

+10.3

+11.1

X

MO

U.S.

+4.6

TOTAL PAYROLL EMPLOYMENT

YEAR ENDING JULY

135
130
125

120
115

110
105

MANUFACTURING EMPLOYMENT
125
120
115

110
105
100
95
90

MISSISSIPPI



U.S

ALL DATA ARE SEASONALLY ADJUSTED

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MISSOURI
1976

III

IV

1

1977
11

1977

1 11

JUL

AUG

SEP

MANPOWER U T I L I Z A T I O N
TOTAL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
JJ UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

JJ

2010.0 1995.5 1979.0 2061.4 2029.1 2032.3 2015.8 2039.2
105.3
105.3
108.3
106.3
106.3
106.2
106.4
108.0
1784.9 1802.0 1782.1 1823.8 1827.5 1816.5 1820.6
107.5
107.8
109.6
109.8
109.8
110.1
110.1

1845.5
110.4

1359.0 1376.0 1354.3 1391.6 1387.6 1380.1
110.5
112.3
112.7
112.9
112.3
111.0

1381.3
113.2

1401.3
113.2

425.9
99.1

426.0
98.6

427.9
101.8

432.3
101.5

440.0
102.4

436.4
102.2

439.3
102.4

444.2
102.7

127.6
6.3

119.1
6.0

137.9
5.7

108.0
5.1

114.2
5.7

122.1
5.6

117.1
5.8

103.5
5.6

29,400 30,232 30,308 32,496
167.1
158.4
160.2
177. 1

N. A.
N. A.

32,136
172.5

N. A.
N. A.

N. A.
N. A.

N. A.
N. A.

2,549
148.7

2,447
151.6

N. A.
N. A.

INCOME
PERSONAL INCOME
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX
FARM CASH RECEIPTS
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

J

2,803
176.6

3,353
159.4

2,323
153.6

2,485
190.7

DATA BEGINNING AUGUST 1977 ARE NOT COMPARABLE WITH PREVIOUS DATA.
N.A. - NOT AVAILABLE
ALL

INDEXES:




1971-100

12

MISSOURI
PERCENTAGE CHANGE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977

TOTAL PAYROLL EMPLOYMENT

120

+3.6

NONMANUFACTURING

+2.3

+3.8

+3.1

+2.7

X+ 0.5

+3.8

4-12.6

4-11.1

PERSONAL INCOME * *
**

U.S.

+2.4

MANUFACTURING
TOTAL EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

MISSOURI

YEAR ENDING JULY

118
116

1971-100

TOTAL EMPLOYMENT

PERSONAL

INCOME

114

1971* •100
185

112

180

110

175

108

170

106

165

1971-100

MANUFACTURING EMPLOYMENT

1971-100

160
114

155

110

150

106

145

102

140

98

135

94

130

90

125

86

120

* DATA BEGINNING AUGUST 1977 ARE NOT COMPARABLE WITH PREVIOUS DATA.
MISSOURI

■ —




,,

u.s. _____

ALL DATA ARE SEASONALLY ADJUSTED

13

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TENNESSEE
1976
III

IV

1

1977
11

1 11

JUL

1977
AUG

SEP

MANPOWER U T I L I Z A T I O N
TOTAL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

1739.8 1739.9 1723.2
107.2
108.3
111.6

1779.5 1804.9 1789.9
111.6
111.2
110.4

1590.1 1606.6 1594.9 1629.8 1645.3 1632.7
116. 1 117.3
119.9
120.2
120. 1 119.8
1098.4 1115.1
123.2
121.6

1101.7
125.4

1802.0 1822.8
110.8
112.3
1642.2
119.7

1660.9
120.7

1123.7 1133.9 1127.9 1130.8 1143.1
125. 1 125.6
125. 1 125.2
126.4

491.7
105.3

491.5
105.7

493.2
109.3

506. 1
110.7

511.3
109.4

504.8
109.5

511.4
109.0

517.8
109.6

102.1
5.9

98.9
5.8

114.0
5.4

97.1
5.1

92.7
5.2

108.2
5.6

86.6
5. 1

83.2
5.0

22,656 23,300 23,272 24,528
172.3
187.7
170.2
180.0

N. A.
N. A.

25,560
193.6

N. A.
N. A.

N. A.
N. A.

N. A.
N. A.

1,037
187.3

982
182.8

N. A.
N. A.

INCOME
PERSONAL INCOME
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX
FARM CASH RECEIPTS
MILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

995
181.1

2,330
179.0

N . A . - NOT AVAILABLE
ALL

INDEXES:




1971-100

14

1,158
208.0

945
202.2

TENNESSEE
PERCENTAGE CHANGE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977
TENNESSEE
TOTAL

TOTAL

NONMANUFACTURING EMPLOYMENT

PAYROLL EMPLOYMENT

135

U.S.
+3.6

NONMANUFACTURING

+4.1

+3.8

MANUFACTURING

+4.2

+2.7

+5.1

+3.8

+13.8

+11.1

EMPLOYMENT

PERSONAL INCOME*
*

4-4.1

YEAR ENDING JULY

130
125

1971-100

TOTAL EMPLOYMENT




U.S.

1971 -100

PERSONAL

INCOME

120

1971- -100
195

115

190

110

185

105

180

100

175

MANUFACTURING EMPLOYMENT

TENNESSEE

1971-100

170

120

165

115

160

110

155

105

150

100

145

95

140

90

135

85

130
ALL DATA ARE SEASONALLY ADJUSTED

15

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

EIGHT CENTRAL M I S S I S S I P P I VALLEY
METROPOLITAN AREAS
III

1976
IV

1

1977
11

11 1

JUL

1977
AUG

SEP

107.8
111.9

108.3
112.5

109.7
113.6

110.2
115.0

110.2
115.9

110.2
115.7

110.0
115.8

110.2
116.2

112.6
115.2

113.3
115.9

113.7
117.1

114.6
118.4

114.6
119.5

114.3
119. 1

114.6
119.5

115.0
119.8

95.8
102.3

95.7
102.5

98.9
103.8

99.2
105.4

99.0
105.6

99.9
105.6

98.3
105.6

98.7
105.6

6.6
7.8

6.4
7.9

5.9
7.4

5. 1
7.0

5.4
7.0

5.2
6.9

5.4
7.1

5.4
6.9

108

107

106

104

104

104

104

104

161.6
158.4

170.0
163.7

174.4
166.4

176.3
171.2

182.0
176.3

179.7
174.0

182.4
176.6

184.0
178.3

142.7
148.2

145.5
151.2

147.7
153.8

149.1
155.8

151.8
159.7

150.5
159.4

152.2
159.3

152.7
160.4

221.9
221.1

237.4
226.0

251.3
237.5

263.4
N.A.

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT INDEX
C.M.V. AREAS
UNITED STATES
NONMANUFACTURING EMPLOYMENT INDEX
C.M.V. AREAS
UNITED STATES
MANUFACTURING EMPLOYMENT INDEX
C.M.V. AREAS
UNITED STATES
UNEMPLOYMENT RATE
C.M.V. AREAS
UNITED STATES

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS INDEX
C.M.V. AREAS
UNITED STATES
MEMBER BANK DEPOSITS INDEX
C.M.V. AREAS
UNITED STATES
CHECK PAYMENTS INDEX*
C.M.V. AREAS
UNITED STATES

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
N.A.
ALL

- NOT AVAILABLE
INDEXES:




1971-100

16

DISCONTINUED

EIGHT CENTRAL M I S S I S S I P P I VALLEY
METROPOLITAN AREAS

PAYROLL EMPLOYMENT

TOTAL BANK LOANS

1971-

1971 -100
120
118

PERCENTAGE CHANGE

116

SEASONALLY ADJUSTEO INOEX
YEAR ENDING

114
112

SEPTEMBER 1977

110

AREA
SUMMARY

108

TOTAL PAYROLL EMPLOYMENT

106

TOTAL LOANS

104

TOTAL DEPOSITS

U.S.

+2.0

+3.6

+12.0

+11.4

+6.0

+7.9

102
100
98
96

llll.l.llll
1975

1 1 1 1 1 111 1 1 1
1976

1 1 1 1 1 1 1 11 11
1977

1975

1976

1977

TOTAL BANK DEPOSITS

PERCENT

UNEMPLOYMENT RATE

1975

1976

1977

C.M.V. AREAS
U.S.
* FRASER
SERIES HAS BEEN DISCONTINUED
Digitized for


CHECK PAYMEN1S

1971-100

1971-100
900
280

PERCENT
12

260

10

240

8

220

6

200

4

180

2

1975

1976

1977

ALL DATA ARE SEASONALLY ADJUSTED

17

1975

1976

1977

160

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ST.

LOUIS, MISSOURI - ILLI NO IS
METROPOLITAN AREA
III

IV

1

1977
11

111

JUL

1977
AUG

SEP

917.7
102.3

928.0
102.4

911.8
103.5

928.7
103.7

931.3
103.8

927.0
103.7

928.2
103.8

938.8
104.1

676. 1
106.6

682.4
106.7

666.2
106.9

682.7
107.6

681.1
107.4

677.6
106.8

678.3
107.4

687.3
108. 1

241.6
91.6

245.7
92.6

245.6
95.2

246.0
94.3

250.3
94.9

249.4
95.7

249.9
95. 1

251.5
94.0

74.7
7.4

67.5
7.1

74.0
6.5

59.4
5.8

59.9
6.0

61.5
5.9

59.7
5.9

58.4
6. 1

64

63

62

60

60

60

60

60

3,816
148.2

4,004
154.5

4,145
158.3

3,982
153.8

4,057
157.3

4,060
156.2

4,039
157.4

4,073
158.3

5,254
136.5

5,377
138.0

5,403
139.5

5,243
136.2

5,235
135.9

5,230
135. 1

5,237
136.3

5,239
136.3

361.7
226.5

400.7
243.2

406.6
249.7

419.5
257.5

1976

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

18

DISCONTINUED

ST. L O U IS
M ISS O URI - I L L I NO I S
METROPOLITAN AREA
PAYROLL EMPLOYMENT

TOTAL BANK LOANS
1971- -100

1971-100

220

220
210

1975

1976

PERCENTAGE CHANGE

200

200

190

190

180

180

170

170

160

160

TOTAL PAYROLL EMPLOYMENT

1-1.4

1-3.6

150

150

TOTAL LOANS

1-3.9

1-11.4

140

140

TOTAL DEPOSITS

-0 .9

+7.9

130

130

120

120

110

110

SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1?77
ST. LOUIS

U.S.

100 -j-iJ-1 lli-l L l i i x l u l u J n _i i l u-Li-i Li.i. 100
1975

1977

1976

1977

CHECK PAYMENTS

TOTAL BANK DEPOSITS
180
PERCENT

UNEMPLOYMENT RATE

170

PERCENT

160
150
140
130

120
1975
ST.

LOUIS _

1976
U .S .

1977
_____

* FRASER
SERIES HAS BEEN DISCONTINUED
Digitized for


1975

1976

1977

ALL DATA ARE SEASONALLY ADJUSTED

19

110

1975

1976

1977

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

LOUISVILLE, KENTUCKY-INDI ANA
METROPOLITAN AREA
III

1976
IV

1

1977
11

11 1

JUL

1977
AUG

SEP

363.6
108.8

356.5
107.2

350.7
108.2

366.8
110.8

371.3
111.1

373.2
111.6

370.0
110.5

370.7
111.2

257.2
113.7

255.8
114.0

248.0
113.8

260.3
116.2

265.7
117.4

265.6
116.8

267.2
117.9

264.4
117.6

106.4
98.9

100.7
93.6

102.7
96.6

106.5
99.8

105.6
98. 1

107.7
100.6

102.8
95.9

106.3
97.9

22.8
5.9

21.5
5.9

24.4
6.0

17.3
4.5

17.4
4.5

16.9
4.2

18.4
4.8

17.0
4.5

8

8

8

8

8

8

8

8

1,807
183.6

1,954
191.0

2,059
197.4

2,109
210.0

2,153
219.6

2,111
213.1

2,148
221.2

2,200
224.4

2,189
149.7

2,313
154. 1

2,298
154.2

2,406
163.0

2,513
172.0

2,495
168.9

2,505
172.6

2,538
174.5

68.5
214.4

75.2
224.8

75.8
243.5

86.9
271.0

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

20

D 1SCONTINUED

LOUISVILLE
KENTUCKY-I NO I ANA
METROPOLITAN AREA
PAYROLL EMPLOYMENT

100

TOTAL BANK LOANS
1971-100

1971-100

120
118

PERCENTAGE CHANGE

116

SEASONALLY ADJUSTED INDEX
YEAR ENDING

114

SEPTEMBER 1977

112

110

LOUISVILLE

U.S.

108

TOTAL PAYROLL EMPLOYMENT

4-2.4

4-3.6

106

TOTAL LOANS

4-21.3

4-11.4

104

TOTAL DEPOSITS

4-15.2

4-7.9

102
100
98
1975

1976

1977

96

1975

1976

1977

TOTAL BANK DEPOSITS

PERCENT

UNEMPLOYMENT RATE

1975

LOUISVILLE

1977

1976

U.S.

* SERIES HAS BEEN DISCONTINUED




CHECK PAYMENTS

1971-100

1971-100
280
260

PERCENT
12

240

10

220

8

200

6

180

4

160

2

1975

1976

1977

ALL DATA ARE SEASONALLY ADJUSTED

21

1975

1976

1977

140

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MEMPHIS, TENNESSEE-ARKANSAS
METROPOLITAN AREA
III

1976
IV

1

1977
11

111

JUL

1977
AUG

SEP

327.1
112.6

333.5
114.7

328.4
115.5

332.9
115.1

334.8
115.3

332.5
115.0

334.6
115.2

337.4
115.6

270.0
117.0

274.9
118.9

270.4
119.9

273.5
118.9

275.2
119.3

273.5
119.0

275.0
119.3

277.1
119.7

57.1
95.0

58.5
98.4

58.0
98.9

59.4
100.2

59.6
99.1

59.0
99.4

59.6
98.6

60.3
99.4

21. 1
5.9

19.9
5.8

20.6
5.8

19.3
5.0

19.4
5.3

20.7
5.3

18.7
5.2

18.8
5.4

8

8

8

8

8

8

8

8

1,535
139. 1

1,658
147.8

1,684
148.8

1,673
152.0

1,696
153.1

1,718
155.5

1,694
152.0

1,676
151.9

2,244
126.4

2,318
128.2

2,320
130.5

2,321
130.0

2,351
132.5

2,362
132.2

2,346
132.8

2,346
132.5

74. 1
207. 1

81.7
211.2

79.4
216.6

82.6
226.6

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

22

D1
ISCONTINUED

mfmphI s

TENNESSEE-ARKANSAS
METROPOLITAN AREA
PAYROLL EMPLOYMENT

100

TOTAL BANK LOANS
1971-100

1971-100

122

120

PERCENTAGE CHANGE

118

SEASONALLY ADJUSTED INDEX
YEAR ENDING

116
114

SEPTEMBER 1977

112

MEMPHIS

110

U.S.

TOTAL PAYROLL EMPLOYMENT

+2 •0

+3.6

108

TOTAL LOANS

+8.6

+11.4

106

TOTAL DEPOSITS

+4.2

+7.9

104

102
100
1975

1976

1977

98

1975

1976

1977

TOTAL BANK DEPOSITS

1971-100

CHECK PAYMENTS

1971-100

180
PERCENT

UNEMPLOYMENT RATE

U.S.

* FRASER
SERIES HAS BEEN
Digitized for


DISCONTINUED

160

10

150

8

140

6

130

4

120

2

MEMPHIS

170

PERCENT
12

1975

1976

1977

ALU OATA ARE SEASONALLY ADJUSTED

23

110
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

LITTLE ROCK, NORTH LITTLE ROCK, ARKANSAS
METROPOLITAN AREA
III

1976
IV

1

1977
11

111

JUL

1977
AUG

SEP

158.0
121.5

159.2
122.8

159.3
125.9

163.3
126.7

164.5
126.6

164.1
126.7

164.3
126. 1

165.2
126.9

129.5
126.6

130.5
127.8

130.0
130.8

133.0
130.9

133.6
130.6

133.3
130.7

133.5
130. 1

133.9
131.0

28.6
103.0

28.6
104.4

29.3
108.8

30.3
111.0

31.0
111.6

30.8
111.6

30.8
110.7

31.3
112.4

8.2
5.2

8.3
5.3

8.6
4.8

6.8
3.8

6.8
4.1

6.8
3.5

7.1
4.6

6.4
4.3

7

7

7

7

7

7

7

7

849
222.2

952
246.7

1,016
258.7

994
251.8

1,045
272.7

1,012
260.4

1,041
269. 1

1,082
288.5

1,013
176.4

1,059
182.6

1,073
184.8

1,117
190.8

1,143
199.0

1,140
194.4

1,146
199.9

1,142
202.8

28.9
251.7

34.4
306.8

50.2
435.2

53.0
469.7

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

24

DISCONTI NUED

L I T T L E ROCK
NORTH L I T T L E ROCKf ARKANSAS
METROPOLITAN AREA
PAYROLL EMPLOYMENT

TOTAL BANK LOANS
1971-100

1971-100

PERCENTAGE CHANGE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977
LITTLE ROCK
TOTAL PAYROLL EMPLOYMENT

1975

1976

1977

1975

1976

UNEMPLOYMENT RATE

+4.0

+3.6

TOTAL LOANS

+26.8

+11.4

TOTAL DEPOSITS

+12.8

+7.9

1977

TOTAL BANK DEPOSITS

PERCENT

U.S.

1971-100

CHECK PAYMENTS

1971-100
500
450

PERCENT
10

400
350
300
250

200
1975

1976

LITTLE ROCK
U.S. ____
* SERIES HAS BEEN DISCONTINUED




150

1977

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

25

EVANSVILLE, INDIANA-KENTUCKY
METROPOLITAN AREA
III

1976
IV

1

1977
11

1 11

JUL

1977
AUG

SEP

110.9
109.5

111.6
110.4

111.1
113.1

113.4
113.6

114.2
112.7

114.8
113.6

114.5
113.0

113.3
111.5

76.7
118.4

76.6
119. 1

74.7
118.8

76.5
120.0

77.7
119.9

78.0
120.2

77.7
119.6

77.3
120.0

34.3
93. 1

35.0
95.3

36.4
103.0

36.5
101.7

36.5
99.2

36.8
101.2

36.8
100.0

36.0
96.4

6.4
5.4

5.5
4.7

6.8
4.4

4.9
3.6

5.3
4.5

5.3
4.0

5.4
4.8

5.3
4.7

9

9

9

9

9

9

9

9

481
175.7

534
189.5

543
194.3

565
205.9

580
212. 1

574
209.0

575
210. 1

593
217. 1

697
172.8

745
180.8

772
188.6

797
195. 1

807
199.3

807
197.4

802
198.7

81 1
201.9

12.2
201.0

13. 1
213.8

13.0
222.7

14.0
235.3

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

26

DISCONTINUED

EV A N S V IL L E
INDIANA-KENTUCKY
METROPOLITAN AREA
TOTAL BANK LOANS

PAYROLL EMPLOYMENT
-100

1971-100

1971-100

PERCENTAGE CHANGE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977
EVANSVILLE
TOTAL PAYROLL EMPLOYMENT

1975

1977

1976

1975

1976

UNEMPLOYMENT RATE

1975
EVANSVILLE

1977

1976
U.S.

* SERIES HAS BEEN DISCONTINUED




+2.1

+3.6

TOTAL LOANS

+21.3

+11.4

TOTAL DEPOSITS

+14.6

+7.9

1977

TOTAL BANK DEPOSITS

PERCENT

U.S.

CHECK PAYMENTS

1971-100

1971-100
280
260

PERCENT
12

240

10

220

8

200

6

180

4

160
1975

1976

1977

ALL DATA ARE SEASONALLY ADJUSTED

27

1975

1976

1977

140

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SPRINGFIELD MISSOURI
METROPOLITAN AREA
1976
III

IV

1

1977
11

1 11

JUL

1977
AUG

SEP

75.5
122.7

75.7
121.4

75.6
124.3

75.8
122.7

76.7
124.7

76.4
125.6

75.9
124.1

77.7
124.4

56.2
125.6

57.8
127. 1

57. 1
129.2

58.2
129.0

58.0
129.7

57.6
130.2

57.2
128.8

59. 1
130.0

19.3
114.4

17.9
106.4

18.5
111.7

17.6
105.9

18.7
110.8

18.8
114.3

18.7
110.1

18.6
108.2

4.6
5.2

4.3
5.1

4.7
4.4

3.8
3.8

4.0
4.4

4.2
4.4

4.3
4.6

3.6
4.3

5

5

5

5

5

5

5

5

198
204.4

208
215.5

213
224.8

224
232.6

234
241.8

234
243.1

234
242.4

234
239.8

262
176.8

271
179.9

276
185.4

288
193.4

299
201.9

299
202.0

298
201.1

301
202.6

11.3
216.0

11.7
230.3

13.4
266.5

14.0
279.6

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

28

DISCONTINUED

SPRINGFIELD
M I SS O U R I
METROPOLITAN AREA
TOTAL BANK LOANS

PAYROLL EMPLOYMENT
1971-100

1971-100

PERCENTAGE CHANCE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977
SPRINGFIELD
+1.0

+3.6

TOTAL LOANS

+15.4

+11.4

TOTAL DEPOSITS

+13.1

+7.9

TOTAL PAYROLL EMPLOYMENT

1975
1975

1976

1976

U.S.

1977

1977

TOTAL BANK DEPOSITS
1971-100

1975

SPRINGFIELD _

1976

1977

U.S.

* SERIES HAS BEEN DISCONTINUED




1975

1976

1971-100

1977

ALL DATA ARE SEASONALLY ADJUSTED

29

CHECK PAYMENTS

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

FORT SMITH, ARKANSAS-OKLAHOMA
METROPOLITAN AREA
III

IV

1

1977
11

111

JUL

1977
AUG

SEP

59.8
120.9

60.4
124.3

60.3
128.9

62.7
129.7

62.9
127.2

63.4
128.8

62.2
126. 1

63. 1
126.7

38.6
123.5

39.0
125.7

38.2
127.5

39.3
128. 1

39.4
125.9

39.3
126.1

39. 1
125.7

39.7
125.9

21.1
116.0

21.4
121.2

22.2
131.4

23.5
133.3

23.4
128.4

24. 1
133.3

22.7
124.6

23.4
127.3

5.2
7.6

5.6
7.8

5.5
6. 1

4.6
5.8

4.3
6.0

4.4
5.7

4.2
5.8

4.2
6.4

3

3

3

3

3

3

3

3

193
176.5

200
185.9

209
196.6

224
206.4

232
211.6

230
207.7

232
210.9

233
216.3

272
166.2

274
168.5

276
173.7

305
188.9

317
193.7

317
191.7

318
194.1

317
195.2

5 •T
180.9

5.7
183. 1

5.7
194.5

6.5
212.9

1976

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

30

DISCONTINUED

FORT SMITH
ARKANSAS-OKLAHOMA
METROPOLITAN AREA
1971 -100

PAYROLL EMPLOYMENT

TOTAL BANK LOANS
1971-100

1971-100

1971-100

150
146

PERCENTAGE CHANGE

M2

SEASONALLY ADJUSTED INDEX
YEAR ENDING

138

SEPTEMBER 1977

134

U.S.

FORT SMITH

130
126

+3. T

+3.6

TOTAL LOANS

+18.3

+11.4

TOTAL DEPOSITS

+16.2

+7.9

TOTAL PAYROLL EMPLOYMENT

122

f

V

118

______
114

110 N
tj/

^^
___

106
102 ■J-l.LlLLi.i-l LI j ti il Ili Li.i- 111111111i.i.
1975

1975

1977

1976

1976

1977

TOTAL BANK DEPOSITS

PERCENT

UNEMPLOYMENT RATE

220

12

200

200

10

180

180

8

160

4

* SERIES HAS BEEN DISCONTINUED




240

220

6

U .S .

1971-100
260

J*

240

PERCENT
14

^

FORT SMITH

CHECK PAYMENTS

1971-100
260

160

^

140

140

1975

1976

1977

ALL DATA ARE SEASONALLY ADJUSTED

31

120

111II 11.11.1L- 111111.1 iJ U -l-i-lII1II111
1975

1976

1977

120

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

PINE BLUFF ARKANSAS
METROPOLITAN AREA
1976
III

IV

1

1977
11

111

JUL

1977
AUG

SEP

26.3
107.9

26.9
108.7

26.8
109.7

26.9
110.4

26.8
110.0

26.4
110.0

26.4
109.2

27.5
110.8

20.4
109.7

21.1
110.3

20.8
111.4

20.9
111.7

20.6
110.8

20.3
110.7

20.3
110.8

21.3
111.0

5.8
102.4

5.8
103.0

5.9
104.1

6.0
106.8

6.1
107.8

6.1
108.4

6.1
105.7

6.2
109.2

2.6
7.9

2.3
7.5

2.2
6.3

2.1
6.0

1.9
5.7

2.2
6 .1

1.9
5.7

1.6
5.2

4

4

4

4

4

4

4

4

189
198.2

208
206.8

N. A.
214.5

216
216.4

215
225.8

212
216.7

217
228.0

217
232.7

247
169.8

264
172.9

275
181.4

277
188.3

275
189.1

277
186.7

273
189.4

276
191.1

3.4
205.7

4.6
220.9

3.9
232.1

3.8
230.3

MANPOWER U T I L I Z A T I O N
PAYROLL EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
NONMANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
MANUFACTURING EMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED INDEX
UNEMPLOYMENT
THOUSANDS OF PERSONS
SEASONALLY ADJUSTED RATE

BANKING A C T I V I T Y
NUMBER OF MEMBER BANKS
MEMBER BANK LOANS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
MEMBER BANK DEPOSITS
MILLIONS OF DOLLARS
SEASONALLY ADJUSTED INDEX
CHECK PAYMENTS *
BILLIONS OF DOLLARS
ANNUAL RATE
SEASONALLY ADJUSTED INDEX

* BASED ON A SAMPLING OF MEMBER AND NONMEMBER BANKS.
ALL

INDEXES:




1971-100

32

DISCONTINUED

P I N E BLUFF
ARKANSAS
METROPOLITAN AREA
TOTAL BANK LOANS

PAYROLL EMPLOYMENT
1971 -100
240

1975

1976

230

230

220

220

210

210

200

200

190

190

180

180

TOTAL PAYROLL EMPLOYMENT

4-1.9

+3.6

170

170

TOTAL LOANS

4-17.0

+11.4

160

160

TOTAL DEPOSITS

4-11.0

+7.9

150

150

140

140

130

130

sX

120 ■uli-iLi

1975

1977

UNEMPLOYMENT RATE

PERCENTAGE CHANCE
SEASONALLY ADJUSTED INDEX
YEAR ENDING
SEPTEMBER 1977
PINE BLUFF

U.S.

■ii Li.i.l u.-Lii. . ill n l i.i.l.i-1. 120
1978

1977

TOTAL BANK D EPO SIT S

PERCENT

1971 -100
240

CHECK PAYMENTS

PERCENT

12
10

8

6
4

2
PINE BLUFF

U.S.

* SERIES HAS BEEN DISCONTINUED




1975

1976

1977

ALL DATA ARE SEASONALLY AOJUSTE0

33

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

FARM REAL ESTATE VALUES PER ACRE *

Index 1967 = 100

Percent Change
1976
to
1977

1972
to
1977 *
**

283

16.9

16.5

213

238

11.7

10.7

203

239

281

17.6

15.5

173

209

260

353

35.8

24.9

131

161

200

244

321

31.6

23.2

129

144

182

204

205

217

5.9

11.0

Missouri

143

160

207

214

241

284

17.8

14.7

Tennessee

142

167

206

236

251

275

9.6

14.1

March
1972

March
1973

March
1974

March
1975

48 States

132

150

187

213

242

Arkansas

143

159

186

191

Kentucky

137

153

182

Illinois

116

129

Indiana

113

Mississippi

* Source: U.S.D.A.
**Annual rate




34

February
1976

February
1977

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