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t e Qu a r t e r l y Ec o n o m i c De ve l o p m e n t s / 'T • ^ \ \ U N D IM » M V ---------------------- ( '“ S [ i ' / j r ) 0 / - - ' > D £ :L ' A i V> / 'm L S V - -___ ’ KE«™«* / / / T E S S £ ^E£ / ...----- Y i ^ L 1 /O it - O L ^ J __ r ---------------- 2 _ / "■ y U \ I LLI M O I S \ \ \ ^ y O R t « c k * - -- -- -- -- -- ^ o u w ,, k\ « 0 R11* ^ H a w a ii 0» „ * ■ 0 / / ^ A la s k a ^ - - -- - -- - -- - -- ,B I I _ BUR“ R E pE R E N C E u ,° f BE-16 ROOM ec c n o m.c a n a l y s |s TOW ER B U IL D IN G w a o ,1 4 0 1 K S T -' N .W . W A S H IN G T O N , D.C. 2 0 2 3 0 U.S. D E P A R T M E N T OF C O M M E R C E ° rf o . E c o n o m ic D e v e lo p m e n t A d m in is tra tio n O ffic e o f M in o rity Business E n te r p r is e B ureau o f E conom ic Analysis A P R IL 1979 ^ T E S O * * U.S. D E P A R T M E N T OF C O M M E R C E J u a n ita M . K re p s , S e c r e t a r y C o u rte n a y M . S la te r, C h ie f E c o n o m is t fo r th e D e p a rtm e n t o f C o m m e rc e E c o n o m ic D e v e lo p m e n t A d m in is tra tio n R obert T. H all, A s s is ta n t S e c r e ta r y f o r E c o n o m ic D e v e lo p m e n t O ffic e o f M in o rity Business E n te rp ris e R an do lp h T. B la c k w e ll, D ir e c t o r B u re a u o f E co n om ic Analysis G e o rg e Ja szi, D ir e c to r STATE QUARTERLY ECONOMIC DEVELOPM ENTS U.S. D E P A R T M E N T OF C O M M E R C E E c o n o m ic D e v e lo p m e n t A d m in is tra tio n O ffic e o f M in o rity Business E n te r p r is e B u re a u o f E conom ic A nalysis A P R IL 1979 REFERENCE ROOM BUREAU OF ECONOMIC ANALYSIS BE-16 TOWER BUILDING 1401 K ST., N.W. W ASHINGTON, D.C, 2 0 2 3 0 P re pared by: The R e g io n a l E c o n o m ic Analysis Division, Bureau o f E c o n o m ic A nalysis O ffic e o f M in o rity B us ines s E n te rp ris e E co no m ic D e v e lo p m e n t A d m in is tra tio n O ffic e o f R e g io n a l D e v e lo p m e n t T itle V R e g io n a l C o m m is s io n s C o a s ta l P la in s Four C o rn e rs O ld W e s t O za rk s P a c ific N o r th w e s t S o u th w e s t B o rd e r In te ra g e n c y A g re e m e n t N u m b e rs 7 0 3 1 , 7 0 4 6 , a n d 7 0 7 5 ACKNOW LEDGM ENTS Th i s p u b l i c a t i o n i s t h e r e s u l t o f a t w o -y e a r d e v e l o p m e n t a l e f f o r t w i t h i n t h e U .S . De p a r t m e n t o f Co m m e r c e . At t h e i n c e p t i o n o f t h e p r o j e c t , t h e l at e An d r e a s Vi e d m a o f t h e Of f i c e o f M i n o r i t y B u s i n e s s En t e r p r i s e ( O M B E) a n d Da v i d Ca r t w r i g h t o f t h e Bu r e a u o f Ec o n o m i c An a l y s i s ( B EA ) b r o a d l y o u t l i n e d t h e c o n t e n t s a n d p r o v i d e d t h e s t r u c t u r e o n w h ic h t h i s p u b li c a t io n is bas e d. O M B E s p o n s o r e d B EA ’ s p r e p a r a t i o n o f q u a r t e r l y r e p o r t s o n e c o n o m i c d e v e l o p m e n t s i n O M B E’s m u l t i -St a t e r e g i o n s a n d d i s t r i c t s . Sh e r m a n Fu n k , As s i s t a n t Di r e c t o r f o r Pl a n n i n g a n d Ev a l u a t i o n , w i t h Ri c h a r d St e v e n s a n d Pe t e r Ad a m s , p r o v i d e d g u i d a n c e i n t h e p r e p a r a t i o n o f t h o s e r e p o r t s a s w e l l as i n t h e d e v e l o p m e n t o f t h i s p u b l i c a t i o n . Th e Ec o n o m i c De v e l o p m e n t Ad m i n i s t r a t i o n s p o n s o r e d t h e e x p a n s i o n o f t h e m u l t i -St a t e r e g i o n r e p o r t s t o St a t e r e p o r t s a n d t h e s u b s e q u e n t d e v e l o p m e n t o f t h i s p u b l i c a t i o n . Je a n n e M c Fa r l a n d , Ch i e f o f t h e Ec o n o m i c Re s e ar c h Di v i s i o n , a n d Al l a n Ol s o n p r o vid e d g ui d an c e in th e d e ve lo p m e n t o f t h i s p u b li c a t io n . Un d e r t h e d i r e c t i o n o f La w r e n c e H o u s t o u n , Jr ., Sp e c i a l As s i s t a n t t o t h e Se c r e t a r y f o r Re g i o n a l De v e l o p m e n t , a n d Ro b e r t Ra u n e r , De p u t y , Co m m i s s i o n s — Co a s t a l Of f i c e of Pl a i n s , Fo u r Re g i o n a l De v e l o p m e n t Co r n e r s , Ol d ( OR D ) , th e OR D W e s t , Oza r k s , Pa c i f i c and six o f t h e No r t h w e s t , a n d Ti t l e V So u t h w e s t Re g i o n al Border- p r ovid ed s u p p o r t fo r th is p u b li c atio n . Th e B EA e f f o r t w a s c o n d u c t e d b y t h e Re g i o n a l Ec o n o m i c An a l y s i s Di v i s i o n , u n d e r t h e d i r e c t i o n o f Ra y Gr i m e s , Ch i e f . Ri c h a r d Gu s t e l y h a d p r i m a r y r e s p o n s i b i l i t y f o r t h e c o o r d i n a t i o n o f t h e p r o j e c t a n d p r o v i d e d o v e r a l l p r o j e c t m a n a g e m e n t . Ho w a r d Fr l e d e n b e r g d i r e c t e d t h e p r e p a r a t i o n , e d i t i n g , a n d p r o d u c t i o n o f t h e f i n a l m a n u s c r i p t s . Th e a u t h o r s o f t h e St a t e d i s c u s s i o n s a n d t h e i r a r e a s o f r e s p o n s i b i l i t y w e r e : Ro b e r t B r e t zf e l d e r , t h e Na t i o n a l -Re g i o n a l Ov e r v i e w a n d t h e Ne w En g l a n d a n d Gr e a t La k e s St a t e s ; Ja m e s Yo u n g e r , t h e So u t h e a s t , Pl a i n s , a n d Ro c k y M o u n t a i n St a t e s ; a n d Ro b e r t W e n d l i n g , t h e So u t h w e s t , M i d e a s t , a n d Fa r W e s t St a t e s . Br u c e Le v i n e d i r e c t e d t h e c o l l e c t i o n o f d a t a a n d t h e p r e p a r a t i o n o f t a b l e s a n d c h a r t s . Ro n a l d Ca t zv a d e v e l o p e d a n d i m p l e m e n t e d c o m p u t e r i ze d s y s t e m s f o r t a b l e p r o d u c t i o n a n d d a t a p r e p a r a t i o n , a n d Pa t r i c i a Sc h m i t t a s s i s t e d i n t a b l e p r o d u c t i o n a n d c o o r d i n a t e d t h e p r o d u c t i o n o f c h a r t s . Re t h a Yo u n g p r o d u c e d t h e c a m e r a -c o p y m a n u s c r i p t . Ke l l y Da w s o n a n d Ru b y W a l k e r p r o v i d e d a d d i t i o n a l s e c r e t a r i a l s e r vi c e s . Ar l e t h a M a s o n , Sh i r l e y W a t s o n , Lo r e t t a B r o o k s , a n d Sh i r l e y Be l l p r o v i d e d s t a t i s t i c a l a s s i s t a n c e . Sy b e l l a G’ Sc h w e n d , Pa t t i Tr u j i l l o , B i l l y Jo H u r l e y , a n d Do n a l d An a l y s i s Di v i s i o n , p r o v i d e d Pa r s c h a l k , o f t h e Cu r r e n t Bu s i n e s s e d i t o r i a l a n d g r a p h i c s s e r vi c e s . D A N I EL GA R N I C K As s o c i a t e Di r e c t o r f o r Re g i o n a l Ec o n o m i c s Bu r e a u o f Ec o n o m i e An a l y s i s CONTENTS P age N a tio na l-R e g io n al O verview : N a t i o n ....................................................................................................................... R eg io n s a n d S t a t e s .................................................................................................... 3 4 S ta te s : A la b a m a .................................................................................................................... A la s k a ..................................................................... A r i z o n a ..................................................................................................................... A r k a n s a s .............................................................. C a l i f o r n i a .................................................................................................................. C o l o r a d o .............................................................................................. C o n n e c tic u t............................................................................................................... D e la w a r e ................................................................................................................... D is tric t o f C o lu m b ia ........................................................................... ;.................... F l o r i d a ............. . ........................................................................................................ G e o r g i a ..................................................................................................................... H a w a i i ....................................................................................................................... I d a h o ................................................................ Illin o is ....................................:.................................................................................. I n d ia n a ................................................................................................. I o w a ...................................................................... K a n s a s ................................................................................................. 7 15 23 31 39 47 55 63 71 79 87 95 103 Ill 119 127 135 K e n tu c k y .............................................................................................. L o u is ia n a ................................................................................................................... M a i n e .......................................................................... ; ............................................. M a r y la n d ........................................................... M a s s a c h u s e tts ........................................................................................................... M ic h ig a n .............................................................. M in n e s o ta ......................................................... .............................. .......................... M is s is s ip p i................................................................................................................ M is s o u r i.............................................................................................. M o n ta n a .................................................................................................................... N e b r a s k a ................................................................................................................... N e v a d a ....................................................................................................................... N e w H a m p s h ire ......................................................................................................... N e w J e r s e y ................................................................................................................ N e w M e x ic o ...................................................................................... N e w Y o r k ............................................................................................. N o rth C a r o lin a .......................................................................................................... 143 151 159 167 175 183 191 199 207 215 223 231 239 247 255 263 271 N o rth D a k o t a . O h i o ............... O k la h o m a ...... O r e g o n ............ P e n n s y lv a n ia ... R h o d e Is la n d .. S o u th C a ro lin a S o u th D a k o ta . T e n n e ss e e ........ T e x a s .............. U t a h ............... V e r m o n t......... V ir g in ia .......... W a s h in g to n .... W e st V irg in ia .. W is c o n s in ...... W y o m in g ........ 279 287 295 303 311 319 327 335 343 351 359 367 375 383 391 399 407 A p r il 1979 1 IN T R O D U C T IO N R e p o rts o n c u rre n t e c on om ic d e v e lo p m e n ts in e a c h S ta te a n d th e D is tric t o f C o lu m b ia a re p u b lish e d 4 tim e s a y e a r— in J a n u a ry , A p ril, Ju ly , a n d O c to b e r. T h e re p o rts a re th e re s u lt o f a n in te ra g en cy e ffo rt w ithin th e D e p a rtm e n t o f C o m m e rc e to assem b le a n d in te rp re t, in a c o n siste n t m a n n e r fo r all S ta tes, c u r re n t e c o n o m ic d a ta from a va rie ty o f p u b lic a n d p riv a te sources. E a c h r e p o rt c o n ta in s ana ly ses a n d d a ta fo r a n u m b e r o f key e c o n o m ic in d ic a to rs (see below ) fo r th e q u a rte r e n d in g fo u r m o n th s p rio r to th e p u b lic a tio n d a te ; th is q u a rte r is th e m o st re c e n t o n e fo r w hich d a ta a re a v a ila b le a n d is h e re a fte r te rm e d th e “ c u r re n t” q u a r te r. E a c h re p o rt h ig h lig h ts p e rc e n t c ha n ge s in th e key e c o n o m ic in d ic a to rs betw e en th e c u r re n t q u a r te r a n d th e c o rre sp o n d in g q u a r te r o n e y e a r e a rlie r (h e re a fte r te rm e d th e “ y e a r-a g o ” q u a rte r); th e use o f th is tim e sp a n elim ina tes th e d is to rtin g effects o f d a ta flu c tu a tio n s th a t re c ur sea so nally . In a d d itio n , e a c h re p o rt c o m p a re s p e rc e n t c ha n ge s fo r e a c h S ta te w ith th e c o rre s p o n d in g c ha nges fo r th e N a tio n in o rd e r to assess th e e x ten t to w hich e a c h S ta te p a rtic ip a te s in n a tio n a l e c o n o m ic d e v e lo p m e n ts. T h e use o f e c o n o m ic in d ic a to rs fo r w hich th e e stim a tio n m e th o d s a re th e sam e fo r a ll S ta te s fa c ilita te s S ta te -to -S ta te c o m p a riso n s. E a c h r e p o rt shed s lig ht on v a rio u s a spe c ts o f e ach S ta te ’s e c o n o m y , such as th e size o f c o n su m e r a n d in d u s tria l m a rk e ts, c ha ng es in th e price level, th e n u m b e r o f p e rso n s w o rk in g o r lo o k in g fo r w o rk , a n d th e fu tu re level o f b u ild in g ac tivity. T his in fo rm a tio n is p a rtic u la rly v a lu a b le to p e rs o n s in g o v e rn m e n t, bu siness, th e m e dia, a n d th e a c ad e m ic c o m m u n ity w h o follow e c o n o m ic d ev e lo p m e n ts in p a rtic u la r S tates. K ey E c o n o m ic In d ic a to rs E a c h r e p o r t focuses o n all o f th e follow ing key e c o n om ic in d ica tors: 1. Personal income co nsists o f p riv a te a n d g o v e rn m e n t w age a n d salary d isb u rse m e n ts, o th e r la b o r in c o m e (suc h as e m p lo y e rs’ c o n trib u tio n s to p riv a te social in su ra n c e p ro g ra m s), fa rm a n d n o n fa rm p ro p rie to rs ’ in co m e, d ividen ds, in te re st, re nts, a n d tra n sfe r p a y m e n ts (s u c h as u n e m p lo y m e n t in s u r a n c e b e n e fits ), less p e r s o n a l c o n trib u tio n s fo r social in su ra n c e . It is m e a s u re d b e fo re th e d e d u c tio n o f p e rso n a l tax es. It is th e o n ly key e c o n o m ic in d ic a to r a d ju s te d fo r sea son ality ; it is n o t a d ju ste d fo r p rice changes. P e rso n a l in c o m e m e a su res th e size o f c o n su m e r m a rk e ts a n d , w he n p re se n te d by in d u stry o f o rig in, c an be in te rp re te d as a m e a su re o f th e size o f in d u s tria l m a rk e ts. 2. T h e labor force c o nsists o f all civilians classified as e m p lo ye d o r u n e m p lo y e d . Employed persons a re (a) th o s e w h o d id a ny w o rk fo r p a y o r p ro fit o r w o rk e d 15 h o u rs o r m o re p e r w eek a s u n p a id w o rk e rs in a fam ily e n te rp rise , a n d (b) th o s e w h o w ere n o t w o rk in g b u t w ho h a d jo b s o r b usin esse s from w hich th e y w ere te m p o ra rily a b se n t for n o n e c o n o m ic re a so n s. Unemployed persons a re th o s e w h o h a d no jo b s , b u t m a d e specific e ffo rts to find jo b s a n d w e re a v a ila b le fo r w ork. 3. Commercial bank loans c o n sist o f c o m m erc ia l a n d in d u stria l lo an s, lo an s to ind ividu a ls, real e sta te loa ns, lo a ns to fa rm e rs (ex cep t fo r real estate), a n d o th e r lo a n s (suc h as lo an s to o th e r b a n k s). T h ey e x c lude h o ldin gs o f g o v e rn m e n t sec uritie s. Commercial bank deposits c on sist o f d e m a n d d e p o s its— w h ich a re n o n in te re st-b e a rin g a n d su bject to w ith d ra w a l o n d e m a n d — a n d tim e a n d saving s d e p o s its— w hich a re in te re st-b e a rin g a n d fo r w hich so m e a d v a n c e n o tic e m a y b e re q u ire d b e fo re w ith d ra w a l. It sh o u ld b e n o te d th a t lo a n s a n d d ep osits re p o rte d by b a n k s in a S ta te m a y reflect th e e c o n o m ic a ctivities o f n o n re s id e n ts as w ell as re sid e nts. 4. Construction contracts re p re s e n t e stim a te d c o sts o f stru c tu re s c o n tra c te d fo r a n d sta rte d , o r d u e to s ta r t w ith in 60 d ay s. T h e to ta l co nsists o f th e follow ing type s o f stru c tu re s: re sid e n tia l h o u s e k e e p in g (inc luding a d d itio n s a n d a lte ra tio n s), re sid e n tia l n o n h o u s e k e e p in g (such as h ote ls), n o n re s id e n tia l (suc h as sto re s a n d fa c tories), a n d n o n b u ild in g (suc h as stree ts a n d highw ays). T h e to ta l in c lu de s su b c o n tra c tin g costs, su c h a s th o se fo r ro o fin g . Dwelling units sta rte d , o r d u e to s ta rt, a re th o se w ith b u ilt-in facilities fo r c o o k in g a n d , w h e re re q u ire d by c lim a te , fo r h ea tin g . A m o n g th e key e c o n om ic in d ic a to rs, c o n s tru c tio n s ta rts d a ta a re u seful b e c a u se th e y in d ic a te fu tu re e c o n o m ic ac tivity. 5. Retail sales a re to ta l re c eip ts from c u sto m e rs o f e sta b lis h m e n ts p rim a rily e n g a ge d in selling g o o d s fo r p e rs o n a l o r h o u s e h o ld c o n su m p tio n a n d in re n d e rin g services in c id e n ta l to th e sale o f th e g ood s. Sales d a ta , w hich in d ic a te th e level o f c o n s u m e r d e m a n d , are a va ila b le fo r 19 S ta tes. 6. T h e consumer price index is a statistic a l m e a su re o f c ha n g e s in p ric e s fo r a fixed “ m a rk e t b a s k e t” o f g o o d s a n d services b o u g h t by a p a rtic u la r p o p u la tio n g ro u p . In th is re p o rt, th e g ro u p c o n sists o f u rb a n w age e a rn e r s a n d clerical w o rk e rs. In fu tu re re p o r ts , i t will c o nsist o f all u rb a n c o n su m e rs. T h e in de x is a v a ila b le fo r a b o u t tw o doze n m e tro p o lita n a re a s in th e N a tio n . T h e in d ex is u sefu l fo r m ea su rin g p ric e c ha n g e s o v e r tim e; it c a n n o t b e u se d fo r m a k in g cost-of-living c o m p a riso n s a m o n g a re a s b e c a u se o f d iffe ren ces a m o n g a re a s in th e “ m a rk e t b a s k e ts .” 7. Business incorpo rations c o n sist o f new b usiness th a t in c o rp o ra te u n d e r S ta te law s, businesses th a t tra n s fe r from n o n c o rp o ra te to c o r p o ra te sta tu s , c o rp o ra tio n s th a t tra n s fe r from o n e S ta te to a n o th e r, a n d c o rp o ra tio n s th a t b e c o m e ce rtifie d to o p e ra te in a n a d d itio n a l S tate. Business failures c o n sist o f c o n c e rn s in v olv ed in c o u rt p ro c e ed in gs o r v o lu n ta ry a c tio n s th a t a re likely to e n d in losses to c re d ito rs . B ecause o f diffe re nc e s a m o n g S ta te s in in c o rp o r a tio n a n d d e b t a ssig n m e n t law s, c a re m u st b e ta k e n in m a k in g S ta te -to -S ta te c o m p a riso n s fo r e ith e r in d ic a to r. F o r a m o re th o ro u g h d isc u ssio n o f th e a b o v e in d ic a to rs a n d th e ir c o m p o n e n ts , c o n ta c t: U .S. D e p a rtm e n t o f C o m m e rc e , B u rea u o f E c o n o m ic A n a ly s is , R e g i o n a l E c o n o m ic A n a ly s is D i v i s i o n , W a sh in g to n , D .C . 20230. S T A T E Q U A R T E R L Y E C O N O M IC 2 O r g a n iz a tio n o f E a ch R e p o r t E a c h r e p o rt h a s tw o m a in p a rts. The National-Regional Overview — h a s tw o sections: 1. Nation. T h is se c tion c o n ta in s a b rie f d isc ussio n o f n a tio n a l e c o no m ic d e v e lo p m e n ts, m a in ly fo r th e tim e s p a n su b se q u e n t to th e “ c u rre n t” q u a r te r. T h e d isc u ssio n foc uses o n g ro ss n a tio n a l p r o d u c t, p e rso n a l in co m e , p rice s, e m p lo y m e n t a n d u n e m p lo y m e n t, a n d c o n stru c tio n . 2. Regions and States. T h is sec tion — w hich sh o w s th e e c o n o m ic d e v e lo p m e n t in a n y o n e re g io n o r S ta te in th e p e rsp ec tiv e o f d e v e lo p m e n ts in o th e r re g io n s o r S ta tes— c o n ta in s a discu ssion a n d a d a ta m a p o f th e N a tio n , d iv id ed in to regions a n d S ta te s, fo r several o f th e key e c o n o m ic in d ic a to rs. In g en e ra l, th e d iscu ssio ns a n d m a p s foc us o n p e rc e n t c ha n g e s in th e in d ic a to rs betw een th e y e a r-a g o a n d th e c u r re n t q u a rte r. The States — h a s 51 se c tio ns, o n e fo r e a c h S ta te a n d th e D is tric t o f C o lu m b ia . E a c h S ta te se c tio n h a s tw o m a in subsections: 1. Highlights. T h is su b s e c tio n c o n ta in s a b rie f d isc ussio n a n d a su m m a ry ta b le . T h e d isc u ssio n su m m a riz e s p e rc e n t c ha n g e s in th e key DEVELO PM EN TS e c o n om ic in d ic a to rs fo r th e S ta te b etw e en th e y ea r-a g o q u a r te r a n d th e c u rre n t q u a r te r, a n d c o m p a re s th e se p e rc e n t c ha ng es w ith th e c o rre s p o n d in g c ha n ge s fo r th e N a tio n . T h e ta b le sho w s th e u nd e rly in g d a ta . 2. A nalysis. T h is su b sec tio n c o n ta in s a disc u ssio n, a b a r c h a rt, a ta ble, a n d line c h a rts fo r ea ch o f th e follow ing in d ic a to rs a n d th e ir c o m p o n e n ts: (a) p e rso n a l in co m e , (b ) c o n s u m e r p rices, if a va ila b le (n o line c h a rts ), (c) la b o r force, (d) c o m m e rc ia l b a n k in g , a n d (e) c o n s tru c tio n . T h is su b sec tio n a lso c o n ta in s a d iscu ssion a n d a ta b le fo r re ta il sales, if a va ilab le , a n d a ta b le fo r b u sine ss in c o rp o ra tio n s a n d failures. In g e ne ral, th e d isc ussio ns a n d b a r c h a rts an a ly z e p e rc e n t c h a n g e s in th e a b o v e in d ic a to rs a n d th e ir c o m p o n e n ts fo r th e S ta te be tw e e n th e y e a r-a g o q u a r te r a n d th e c u rre n t q u a rte r, a n d c o m p a re th e s e p e rc e n t ch a ng es w ith th e c o rre s p o n d in g c ha ng es fo r th e N a tio n . In g en e ra l, th e ta b le s show S ta te a n d n a tio n a l d a ta fo r th e c u rre n t q u a r te r a n d th e y ea r-a g o q u a rte r, a n d S ta te d a ta fo r th e q u a r te r p re c e d in g th e c u rre n t q u a r te r a n d th e c o rre s p o n d in g yea ra g o q u a r te r. T h e ta b le s also sh o w S ta te a n d n a tio n a l p e rc e n t c ha ng es b etw e en th e y e a r-a g o q u a r te r a n d th e c u rre n t q u a r te r, a n d b etw een th e q u a r te r p re c e d in g th e y ea r-a g o q u a r te r a n d th e q u a r te r p re c ed ing th e c u rre n t q u a rte r. T h e line c h a rts sho w th e m o v em e n ts ov er tim e o f q u a rte rly S ta te a n d n a tio n a l d a ta . A p r il 1979 3 N A T IO N A L -R E G IO N A L O V E R V IE W N a tio n In 1978:IV, gross national product (G N P ) a d ju ste d fo r price c ha nges, th a t is, re a l o u tp u t, in c re a se d 6.9 p erc e n t, a c c ord ing to revised e stim a tes o f A p ril 19, 1979. T h is in cre ase c o m p a re d w ith a n in cre ase o f 2.6 p e rc e n t in 1978:111. (T h e se e stim a te s a re a t sea sona lly a d ju s te d a n n u a l ra te s.) T h e h ig he r ra te o f g ro w th in 1978:IV w as largely a ttrib u ta b le to final sales, w hich inc re a se d 7.2 p erc e n t, c o m p a re d w ith 3.7 p erc e n t in 1978:111. A ll m a jo r c o m p o n e n ts o f final sales exc ept g o v e rn m e n t p u rc h a s e s inc re a se d m o re in 1978:IV th a n in 1978:111. In v e n to ry in ve stm e n t a ga in h eld do w n th e in crease in G N P , b u t less th a n in th e th ird q u a r te r. In 1978:1 V, ch a ng es in real G N P , final sales, a n d c h a n g e in business in ve n to rie s w ere d o m in a te d by c h an ge s in m o to r vehicles o u tp u t. M o to r vehicle p ro d u c tio n a c c o u n te d fo r a lm o s t th e e n tire 1978:1 V a c ce le ration in G N P . G N P e xc lu ding m o to r vehicle p ro d u c tio n inc re a se d a b o u t 4.5 to 5.0 p e rc e n t in b o th 1978:111 a n d 1978:IV. In 1979:1, personal income in c re ased a b o u t 2.5 p erc e n t, c o m p a re d w ith a n incre ase o f 3.3 p e rc e n t in 1978:IV a n d 2.9 p e rc e n t in 1978:111 (se aso na lly a d ju s te d , n o t a t a n n u a l ra te s). R o ug h ly tw o -th ird s o f th e d ec e le ra tio n from 1978:IV to 1979:1 w as tra c e a b le to p ro p r ie to r s ’ in co m e , a n d m o st o f th e re m a in d e r w as d u e to p e rso n a l c o n trib u tio n s fo r social in su ra n c e . T h e d e c e le ra tio n in p ro p r ie to r s ’ in co m e w as m ainly in fa rm incom e, w h ic h sho w ed little c h a n g e in 1979:1, in c o n tra s t w ith a large in cre ase in 1978:1 V. A m a jo r fa c to r in th e sw ing w as F e d e ra l p a y m e n ts to fa rm e rs, w hich dec lin ed in 1979:1 a fte r inc re a sing s u b sta n tia lly in 1978:IV. T h e d e c e le ra tio n in w ages a n d salarie s w as sm all. In p riv a te service-type in d u strie s, th e re w ou ld have bee n a d e c e le ra tio n h a d it n o t been fo r th e in cre a se in th e m in im u m w age from $2.65 to $2.90 p e r h o u r a n d th e e x p a n s io n o f c ov e ra ge u n d e r th e F a ir L a b o r S ta n d a rd s A c t. T h e c ha n ge s b e c am e effective in J a n u a ry a n d a d d e d $2 b illio n to to ta l p ay ro lls. In g ov ern m e n t, th e d e c ele ra tio n re flec ted la st O c to b e r’s F e d e ra l p a y raise , w hich h a d a d d e d to th e 1978:1 V increase. T o a rriv e a t p e rso n a l in co m e , p e rso n a l c o n trib u tio n s to social in su ra n c e a re d e d u c te d from w age a n d sa lary d isb urse m e nts, p ro p r ie to r s ’ in co m e, a n d o th e r c o m p o n e n ts o f p e rso n a l in com e. T hese c o n trib u tio n s in c re ased a b o u t 9.3 p e rc e n t in 1979:1, c q m p a re d w ith 2.3 p e rc e n t in 1978:IV. T h e ste p -u p w a s d u e to a n in cre ase in th e social sec urity ta x ra te from 6.05 to 6.13 p e rc e n t a n d a n in cre a se in th e ta x a b le w age ba se from $17,700 to $22,900. If th e effects o f th e F e d e ra l p a y m e n ts to fa rm e rs, th e in cre ase in th e m in im u m w age, th e F e d e ra l pay raise, a n d th e ta x ra te a n d ba se c ha ng es re la tin g to p e rso n a l c o n trib u tio n s fo r so cial in s u ra n c e a re exclude d, p e rso na l in com e so a d ju s te d w ou ld h a ve inc re a se d a b o u t 0.3 p erc e n ta g e p o in t less ra p id ly in 1979:1 th a n in 1978:IV, in ste a d o f in cre a sin g a b o u t 0.8 p e rc en tag e p o in t less ra pidly. Civilian employment inc re a se d 1.0 m illion from 1978:IV to 1979:1, c o m p a re d w ith 0.9 m illion in 1978:IV. T h e in cre ase in th e labor force— 1.0 m illion — w as o n e -fo u rth la rg e r th a n in 1978:IV. W ith th e in c re a se in th e la b o r forc e e qu a lin g th e in cre ase in civilian e m p lo y m e n t, th e n u m b e r o f unemployed w as u n c h a n g e d from 1978:IV to 1979:1, a t 5.9 m illion. T h e unemployment rate in F e b ru a ry a n d M a rc h 1979 w as 5.7 p e rc e n t, c o m p a re d w ith 5.8 p e rc e n t in b o th J a n u a ry 1979 a n d 1978:IV, w he n th e q u a rte rly ra te w as th e low est since 1974:111. T h e p e rc e n t o f th e p o p u la tio n th a t w as e m p lo ye d inc re a se d from 59.0 p e rc e n t in 1978:IV to a re c ord 59.4 p e rc e n t in 1979:1. In b o th J a n u a ry a n d F e b ru a ry 1979, th e Consumer Price Index in cre a se d m o re th a n 10 p e rc e n t (a t a sea so n a lly a d ju ste d a n n u a l ra te ). T h e se increases w ere larg e r th a n m o st o f th e m o n th ly in creases in 1978. T h e p rice a c c ele ra tion w as s h a rp in foo d , especially m e a t a n d fru its a n d vege ta bles, a n d in energy, espe cially ga so lin e a n d elec tricity. G a so lin e price s h a ve b egun to reflect th e in cre ases in c ru d e oil price s d ue to O P E C ’s p rice a c tio n s la st D e c em b e r, th e sh o rta g e s ca used by th e c u to ff in th e p ro d u c tio n o f Ira n ia n oil, a n d m o st re cen tly, p rice c o n tro l re g u la tio n s th a t allow re fin ers to re d is trib u te to w a r d g a solin e th e in c re a se d re fining co sts th e y p a ss on. R e sid en tia l h ou sin g a c tiv ity dec lin ed in 1979:1. It w ou ld a p p e a r th a t seve re w e a th e r as well as fin a n c ia l fa c to rs c o n trib u te d — th e fo rm e r p ro b a b ly m o re th a n th e la tte r. Housing starts d eclined sh arp ly in J a n u a ry a n d F e b ru a ry , from a b o u t 2 m illion sta rts a m o n th (a t a sea son ally a d ju s te d a n n u a l ra te ) d u rin g m o st o f 1978 to 1.7 m illion in J a n u a ry a n d 1.4 m illion in F e b ru a ry . T h e re g io n a l d istrib u tio n o f th e declines in dic a te s th a t the y w ere c o rre la te d w ith th e inc id en ce o f th e seve re w e a th e r, b u t th a t o th e r fa c to rs w e re a t w o rk as well. In M a rc h 1979, h ou sin g sta rts re b o u n d e d to 1.8 m illion, m ainly d u e to im p ro v in g w e ath er. T h e n u m b e r o f building permits a u th o riz e d fo r new p riv a te h ou sin g u n its w e ak en e d in J a n u a ry a n d F e b ru a ry ; the y a ve ra g e d a b o u t 1.3 m illion u n its (a t a sea son ally a d ju s te d a n n u a l ra te ), a fte r ra n g in g betw een 1.6 a n d 1.7 m illion u n its p e r m o n th d u rin g th e sec ond h a lf o f 1978. In M a r c h 1979, th e n u m b e r o f p e rm its inc re a se d to 1.6 m illion . 4 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS R e g io n s a n d S ta te s 197 7 :1 V to 1978:1V P e r so n a l In c o m e S ta te p e rso n a l in c o m e in c re a se d 12.6 p erc e n t. R eal incom e inc re a se d a b o u t 3.7 p e rc e n t, as th e C o n s u m e r P rice In de x in cre a se d 8.9 p e rce nt. T h e in cre ase in c u r re n t-d o lla r p e rso n a l in co m e exc eede d th e n a tio n a l in cre ase in c o n s u m e r pric e s b y a t lea st 0.4 p e rc e n ta g e p o in t in all S ta tes ex cep t A la s k a a n d th e D istric t o f C o lu m b ia , w he re p e rso n a l in c o m e in c re a se d 3.4 a n d 8.4 p e rc e n t, respectively. N e a rly all o f th e 15 S ta tes w ith a b o v e -a v e ra g e in creases in to ta l p e rso n a l in c o m e w ere in th e W e st a n d S o u th , in clu din g all S ta te s in th e F a r W est re gio n, all S ta tes in th e R o ck y M o u n ta in region ex c ep t C o lo ra d o , a nd all S ta tes in th e S o u th w e st re g io n exc ept N e w M exico (m a p 1). Since th e last n a tio n a l b usine ss cycle p ea k in 1973:1V, m o s t w e ste rn a n d so u th e rn S ta tes h a ve re gistere d relative ly la rg e increases in to ta l p e rs o n a l incom e. F ro m 1977:1V to 1978:1V, increases in fa rm in c o m e c o n trib u te d stro n gly to th e a b o v e -a v e ra g e inc re a se s in to ta l p e rso n a l in c o m e in N o r th D a k o ta , M o n ta n a , Id a h o , a n d A rk a n s a s. M in in g w age a n d sa la ry d isb u rse m e n ts (p a y ro lls) w ere p a rtic u la rly stro n g in N o rth D a k o ta , M o n ta n a , W yo m ing , a n d T ex as. C o n s tr u c tio n p a y ro lls w ere s tro n g in e ach o f th e a bo v e -a v e ra g e S ta tes except U ta h a n d A rk a n s a s, U .S . D e p a rtm e n t o f C o m m e rc e , B ureau o f E c on om ic A naly sis a n d m a n u fa c tu rin g p ay ro lls w ere stro n g in m o s t o f th e S tates, in p a r tic u la r, in C a lifo rn ia , W a sh in g to n , a n d V e rm o n t. R eflec ting stre n g th in th e c o m m o d ity -p ro d u c in g in d u strie s, p a y ro lls in p riv a te service-type in d u strie s in c re a se d a t a bo v e -a v e ra g e ra te s in all o f th e a bo v e-av e ra ge S ta tes except N o r th D a k o ta . Seven o f th e 13 S ta te s (a n d th e D istric t o f C o lu m b ia ) w ith below a v e rag e in c re ases in to ta l p e rso n a l in c o m e w ere in th e N o rth e a s t-G re a t L a ke s m a n u fa c tu rin g b elt, in clu din g all S ta tes in th e M id ea st region exc ept D e la w a re . D e cline s in fa rm in co m e c o n trib u te d to th e below ave rag e in c re ases in to ta l p e rso n a l in c o m e in W isc o nsin , M in n e so ta , a n d S o u th D a k o ta . M a n u fa c tu rin g p a y ro lls w ere w eak in m ost o f th e b e lo w -av era ge S ta tes, in p a r tic u la r, in N e w Jerse y, Illinois, N ew Y o rk , a n d C o n n e c tic u t. C o n s tr u c tio n p a y ro lls d e c lin e d in W e st V irginia a n d A la sk a a n d in cre a se d a t ra te s below th e n a tio n a l a v e rag e in all o f th e re m a in in g b e lo w -av era ge S tates exc ept N e w Jerse y, W isco nsin , M in n e s o ta , a n d H a w aii. P riv a te service-type in d u s try p ay ro lls w ere w e a k in m o st o f th e b e lo w -av era ge S tates. A p r il 1979 5 N o n fa r m In c o m e N a tio n a lly , n o n fa rm in c re a se d 12.3 p e rce nt. T h e 15 S tates w ith ab ove a v e rag e incre ases in n o n fa rm in co m e from 1977:1V to 1978:1V w ere m a inly in th e W est a n d S o u th , in clu d in g all o f th e S ta te s in th e F a r W est a n d S ou th w e st re g io n s (m a p 2). T h e ra p id g ro w th in th e 15 S ta tes is a c o n tin u a tio n o f a tre n d : Since th e la st n a tio n a l bu sine ss cycle p e a k in 1973:1V, all o f th e S ta te s e xc e pt M ic h ig a n h a d a b o v e -av e rag e increases in n o n fa rm in co m e. E ig h t o f th e 11 S tates (a n d th e D istric t o f C o lu m b ia ) w ith b elo w -a ve rag e in creases in n o n fa rm in c o m e fro m 1977:1V to 1978:1V w ere in th e N o r th e a s t-G re a t L a k e s m a n u fa c tu rin g b elt in clud ing all o f th e S ta te s in th e M id e a s t re gion . T h e slow g ro w th in th e 11 S ta tes is also a c o n tin u a tio n o f a tre n d : Since th e la st n a tio n a l cycli cal p ea k in 1973:1V, all o f th e S ta tes exc ept A la sk a a n d W e st V irginia h a d b elo w -a ve rag e inc re a se s in n o n fa rm incom e. C iv ilia n E m p lo y m en t N a tio n a lly , civilian e m p lo y m e n t in c re ased 3.9 p e rc e n t. In c rea se s w ere reg istered in all S ta tes e x c e p t A rk a n s a s a n d M ississippi (m a p 3). N in e o f th e 17 S ta tes w ith a bo v e -a v e ra g e increases w ere in th e F a r W e st, R o ck y M o u n ta in , a n d S o u th w e st regions. T h e e ight re m a in in g S ta tes w ere g e o g ra p h ic a lly w id e spre a d . N e a rly all o f th e 13 S ta tes w ith b elo w -a ve rag e in creases w ere in th e S o u th e a st, P la ins, a n d N o rth e a s t-G re a t L a ke s m a n u fa c tu rin g b elt. U n e m p lo y m e n t R a te s N a tio n a lly , th e u n e m p lo y m e n t ra te in 1978:IV w a s 5.5 p erc e n t. F o u r o f th e 10 S ta tes (a n d th e D istric t o f C o lu m b ia ) w ith a bo v e -a v e ra g e ra te s w e re in th e M id e a st, w h ere ra te s have been relative ly high in th e seventies (m a p 4). O th e r S tates w ith high ra te s in 1978:IV w ere A lask a, H a w aii, A rk a n sa s , M ississipp i, F lo rid a , a n d M ic higa n. T h e 20 S ta tes w ith b elo w -a ve rag e ra te s w ere c o n c e n tra te d in th e P la ins a n d R oc ky M o u n ta in re gions, w h ere u n e m p lo y m e n t ra te s h a ve bee n re la tive ly low in th e seventies, a n d in N e w E n g la n d , w h ere ra te s h a d been relatively h ig h u n til recently. F ro m 1977:IV to 1978:IV, th e n a tio n a l u n e m p lo y m e n t ra te dec line d 0.7 p e rc e n ta g e p o in t. T en S ta tes— in clu din g five in N e w E n g la n d — re gistere d declines o f a t least 1.4 p e rc e n ta g e p o in ts — d o u b le th e n a tio n a l decline. In 4 o f th e 10 S ta te s— W a s h in g to n , A riz o n a , N e w Jerse y, a n d V e rm o n t— th e d ec lin e m ainly re flected stre n g th in e m p lo y m e n t g ro w th ; a n d in th e r e m a i n in g s ix — R h o d e I s l a n d , M a in e , N e v a d a , M a ss a c h u se tts, N ew H a m p sh ire , a n d N o r th C a ro lin a — th e dec line m ainly reflected w e ak ne ss in la b o r force g ro w th . F ro m 1977:IV to 1978:1V, six S ta tes re gistered u n e m p lo y m e n t ra te in creases o f 0.5 p e rc e n ta g e p o in t o r m ore. A la s k a a n d A rk a n s a s h a d th e large st in cre ases— 1.7 a n d 1.3 p e rc e n ta g e p o in ts, respectively. In th re e o f th e six S ta te s— A rk a n s a s , H a w aii, a n d T e nn essee — th e in cre a se m ainly re flected w e ak ne ss in e m p lo y m e n t g ro w th ; a n d in th e re m a in in g th re e — A la sk a , W isco nsin, a n d V irg inia— th e in crease m ainly re flected stre n g th in la b o r force g ro w th . 6 S T A T E Q U A R T E R L Y E C O N O M IC V a lu a tio n o f C o n str u c tio n C o n tr a c ts N a tio n a lly , th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 16.8 p erc e n t. M o st o f th e 10 S ta te s w ith a bo v e -a v e ra g e incre ases w e re in th e M id e a st, S o u th e a st, a n d G re a t L a ke s re gions; th e o th e rs w ere H a w aii, S o u th D a k o ta , a n d A riz o n a (m a p 5). T h e ave rag e in crease fo r th e 10 S ta te s w as 41.9 p erc e n t. In m a n y o f th e se S ta tes, th e v a lu a tio n o f m ost m a jo r types o f c o n s tru c tio n c o n tra c ts inc re a se d fa ste r th a n n a tio n a lly . S tre n g th w as especially n o te w o rth y in n o n b u ild in g , w h ere all b u t tw o o f th e S ta tes h a d incre ases th a t w ere well a b o v e th o se re g istere d in the N a tio n . In S o u th D a k o ta , M a ry la n d , In d ia n a , a n d A riz o n a , th e v a lu a tio n o f n o n b u ild in g c o n tra c ts in c re ased by m o re th a n 125 p ercent. T h e in cre ase in th e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts w as stro n g in seven o f th e a b o v e -av e rag e S ta tes. In th e re sid e ntia l m a rk e t, 6 o f th e 10 S ta tes h a d a bo v e -a v e ra g e in creases in th e v a lu a tio n o f a d d itio n a n d a lte ra tio n c o n tra c ts , a n d six h a d a bo v e -a v e ra g e in cre ases in the v a lu a tio n o f re sid e ntia l h o u sek e ep in g c o n tra c ts. M o st o f th e 15 S ta tes (a n d th e D istric t o f C o lu m b ia ) w ith b elow -average in cre ases in th e to ta l v a lu a tio n o f c o n tra c ts w ere in th e W est, m ainly in th e R oc ky M o u n ta in a n d P la ins re g io n s a n d in a d ja c e n t S tates; th e o th e rs w ere A la sk a , C a lifo rn ia , V e rm o n t, a n d th e D istric t o f C o lu m b ia . O n av erag e, th e to ta l v a lu a tio n o f c o n tra c ts for this g ro u p o f S ta tes d ec lin ed 8.2 p erc e n t. In m an y o f th e se S ta te s, th e v a lu a tio n o f m o st m a jo r typ es o f c o n s tru c tio n c o n tra c ts in c re a se d m o re slow ly th a n n a tio n a lly . W e ak ne ss w as espe cially n o te w o rth y in n o n b u ild in g c o n tra c ts , w h ere all o f th e se S ta tes ex c ep t M o n ta n a h a d declines. In N o r th D a k o ta , th e D is tric t o f C o lu m b ia , W y om in g, a n d V e rm o n t, th e dec line in th e v a lu a tio n o f n o n b u ild in g c o n tra c ts exceeded 50 p ercent. T h e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts dec line d in e ight o f th e S tates a n d in c re ased m o re slow ly th a n n a tio n a lly in five. T h e v a lu a tio n o f re sid e n tia l h o use k e e p in g c o n tra c ts de c line d in th re e o f th e S ta te s a n d in c re a se d m o re slow ly th a n n a tio n a lly in six. N u m b er o f D w e llin g U n its S tar te d N a tio n a lly , th e n u m b e r o f dw elling u n its s ta rte d declined 0.6 p erc e n t, re m a in in g a t a high level in 1978:1V. M a n y o f the 14 S ta tes (a n d th e D is tric t o f C o lu m b ia ) w ith a bo v e -a v e ra g e incre ases w ere in th e M id e a st, S o u th e a st, a n d G re a t L a ke s re gions; th e o th e rs w ere A la sk a , H a w a ii, A riz o n a , N e v a d a , W y om in g, a n d O k la h o m a (m a p 6). E a c h o f th e a b o v e -a v e ra g e S ta tes exc ept M ich iga n h a d a n in crease in th e v a lu a tio n o f re sid e n tia l h o u sek e ep in g c o n tra c ts th a t w a s well a bo v e th e n a tio n a l a v e ra g e in crease. T h e 11 S ta tes w ith la rg e declines in th e n u m b e r o f d w elling u n its s ta rte d w ere g e o g ra p h ic a lly w id esp re ad . In e ach o f these S ta tes, th e v a lu a tio n o f re side n tia l h o u se k e e p in g c o n tra c ts e ith e r d ec lin ed o r inc re a se d a t a ra te th a t w as be lo w th e n a tio n a l ave rag e ra te o f gain. U .S. D e p a rtm e n t o f C o m m e rce . B ure au o f E co n o m ic A nelyele DEVELO PM ENTS A p r il 1979 7 1977:IV to 1978:IV Personal income — U p 12.5% vs. 12.6% in U .S., to $24.4 billion — P a yrolls up 16.7% in d u ra b le s m a n u fa c tu rin g vs. 15.2% in U .S . — P ayrolls up 15.2% in services vs. 12.7% in U .S. Employment — U p 4.8% vs. 3.9% in U .S ., to 1.5 m illion Unemployment — D o w n 9,000, to 96,000 — R a te dow n to 6.0% o f la b o r fo rce vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 25.0% vs. 16.8% in U .S ., to $714.3 m illion — V a lu a tio n o f n o n b u ild in g c o n tra c ts u p 99.5% vs. 22.2% in U .S . — N u m b e r o f d w e lling -u n it s ta rts up 2.4% vs. n e a r stab ility in U .S ., to 9,168 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Al a b a m a Th r o u f h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 Al a b a m a U.S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t cha’ nge To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 1,0 2 1 2 1,6 9 7 2 3 ,8 77 2 4 ,4 18 12 .4 13 .6 12 .6 12 .5 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s )........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 13 ,5 79 13 ,9 3 4 15 ,4 3 3 15 ,72 1 1 2 .1 13 .7 12 .6 12 .8 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 1,4 4 3 1,4 3 2 1,5 0 2 1,5 0 1 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 117 10 5 95 96 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 7.5 6 .8 5 .9 6 .0 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 7,5 5 2 7,8 4 7 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 8 ,8 5 8 n .a . 4 .1 - 9 .8 4 .1 - 1 9 .0 — — 16 .3 3 .9 4 .8 - 8 .8 - 8 .8 — — 17.3 — — — — 9 2 5 ,5 11 n .a . 10 ,8 8 9 1 1 ,7 0 1 12 ,2 0 9 n .a . 11.5 12 .1 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 6 4 9 ,4 8 4 5 71,5 5 3 79 1,3 0 8 714 ,2 9 3 14 .5 2 1.8 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 8 ,9 9 5 8 ,9 5 1 10 ,3 2 7 9 ,16 8 1.0 14 .8 - .6 To t a l r e t a i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 1,2 14 1,0 5 1 1,2 2 2 n .a . 8 .2 B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 42 18 5 .3 2 0 1.8 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................. , 20 25 n .a . - 9 .5 — 1 1 .2 .7 - 4 0 .5 2 5 .0 2 .4 — — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a v a i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . — — — — 7.9 — 8 .9 — 8 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju ste d a t a n n u a l ra te s) increased 12.5 p e rc e n t from 1977:IV to 1978:1V, a fra c tio n less th a n n atio n a lly (ta b le 2). In 1978:IV, A la b a m a ’s p e rso n a l incom e to ta le d $24.4 billion, u p $2.7 billion since 1977:IV. N o n fa rm p e rso n a l in c o m e inc re a se d 12.4 p e rc e n t from y e a r to year, o nly a fra c tio n m o re th a n n a tio n a lly . In c o n tra s t, since th e m o s t re c en t n a tio n a l b usin ess cycle p e ak in 1973:IV, A la b a m a ’s e c o n o m y h as grow n m u ch m o re ra p id ly th a n th e N a tio n ’s; th e in crease in th e S ta te ’s n o n fa rm in c o m e w as 12 p e rc e n t m o re th a n n a tio n a lly , ra n k in g A la b a m a 23 rd a m o n g all S tates. W age and salary disbursements (pa y ro lls) in the S ta te in c re ased 12.8 pe rc e n t from 1977:IV to 1978:IV, c o m p a re d w ith 12.6 p e rc e n t n a tio n a l ly. In 1978:IV, the y to ta le d $15.7 b illio n, up $1.8 b illio n since 1977:1V. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , X 9 77:I V — 19 78 :1V [Se a s o n a l l y a d j u s te d ] Pe r c e n t G o v e rn m e n t p a y ro lls in c re a se d 10.1 p e rc e n t from y e a r to y ea r, 3.2 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly . T h e in cre ase in S ta te a n d local g o v e rn m e n t p ay ro lls in A la b a m a w as especially la rg e — 13.9 p erc e n t; th e S ta te ’s in crease w as sec ond to M ississipp i’s 15 .3-percent in crease a n d w as tw ice th e n a tio n a l g ain . In c o n tra s t, F e d e ra l G o v e rn m e n t p a yro lls inc re a se d only 5.4 p e rc e n t in th e S ta te versus 7.1 p e rc e n t n atio n a lly . M a n u fa c tu rin g p a y ro lls inc re a se d 12.5 p e rc e n t in th e S ta te, c o m p a re d w ith a 13.3-percent n a tio n a l incre ase. P ay rolls in n o n d u ra b le s m a n u fa c tu rin g in c rea se d only 7.8 p e rc e n t versus 10.0 p e rc e n t n a tio n a lly , a n d th o se in d u ra b le s m a n u fa c tu rin g in c re a se d 16.7 p erc e n t, 1.5 p e rc e n ta g e p o in ts m o re th a n n atio n ally . W ith in A la b a m a ’s p riv a te service-type in d u stry g ro u p , p a y ro lls in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities in c re ased 15.8 p erc en t versus 11.3 p e rc e n t n a tio n a lly , a n d services p a y ro lls in c re ased 15.2 p erc e n t versus 12.7 p e rc e n t n a tio n a lly . T h e S ta te ’s p a y ro ll in cre ase in th e tra n s p o r ta tio n c o m p o n e n t w as th e e ig h th la rge st in th e N a tio n . In c o n tra s t, p a y ro lls in fin a n c e -in su ra n c e -re a l e sta te in c re a se d 10.0 p erc e n t in th e S ta te versus 14.1 p e rc e n t n a tio n a lly , a n d tra d e p ay ro lls increased 9.2 p e rc e n t versus 13.2 p erc e n t; b o th S ta te p a y ro ll inc re a se s ra n k e d a m o n g th e sm allest increases in th e N a tio n . P ay ro lls in c o n s tru c tio n in c re a se d 17.6 p e rc e n t in A la b a m a , 2.5 p e rc e n ta g e p o in ts less th a n n a tio n a lly . M in in g p a y ro lls in c re ased 48.5 p e rc e n t from ye a r to y e a r versus 33.9 p e rc e n t n a tio n a lly . A la b a m a ’s in crease w as th e sixth large st in th e N a tio n . F ro m 1977:1 V to 1978:IV, S ta te u n e m p lo y m e n t in su ra n c e bene fits declined 34.8 p erc e n t, 4.5 p e rc en tag e p o in ts m o re th a n n atio n ally . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V Pe r c e n t To t a l Pe r s o n a l M a n u fa c tu r i n g In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e - t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l [Se a s o n a l l y In c o m e C h a r t 4 .— I n d u s t r i a l Co m p o s i t i o n ad ju sted ] o f W a g e s a n d Sa l a r i e s : Al a b a m a [Se a s o n a l l y Index, 19 72 = 10 0 ad ju ste d ] Billio n $ T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Al a b a m a U .S . St a t e U.S . 19 7 7 I I I 19 77:I V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 7 8 :111 M i l l i o n s of d o l l ar s , season al l y ad j u s te d at an n u al r ate s1 St a t e 19 77 : 1 V 19 8 :1V Pe r c e n t c h a n g e 2 1 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 1,0 2 1 2 1,6 9 7 2 3 ,8 77 2 4 ,4 18 12 ,4 13 .6 12 .6 12 .5 Fa r m p e r s o n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 3 18 46 7 49 6 561 4 7.9 5 6 .0 2 6 .3 2 0 .2 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 2 0 ,70 3 2 1,2 3 0 2 3 ,3 8 1 2 3 ,8 5 7 11.9 12 .9 12 .3 12 .4 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 1,0 2 1 2 1,6 9 7 2 3 ,8 77 2 4 ,4 18 12 .4 13 .6 12 .6 12 .5 W a g e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 13 ,5 79 13 ,9 3 4 15 ,4 3 3 15 ,72 1 12 .1 13 .7 12 .6 Ot h e r l a b or i n c o m e ....................................................................................................................................................... 12 .8 9 6 ,0 16 1 1 1 ,7 1 9 1,3 18 1,3 72 1,5 8 2 1,6 0 8 17.0 2 0 .0 16 .4 Pr o p r i e t o r s ’ i n c o m e ....................................................................................................................................................... 17.3 10 5 ,9 5 3 12 5 ,9 9 5 1,3 77 1,5 3 5 1,6 8 6 1,79 8 2 1.5 2 2 .4 18 .9 1 7 .1 ' 3 1,0 4 4 25 4 40 2 428 49 1 6 6 .6 6 8 .4 3 1.3 2 2 .1 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 1,12 3 1,13 3 1,2 5 7 1,3 0 7 12 .8 12 .0 15 .3 15 .3 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 2 ,0 6 6 2 ,1 11 2 ,2 9 1 2 ,3 5 1 12 .3 10 .9 12 .8 1 1.4 Tr a n s f e r p a y m e n t s .......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 3 ,3 5 3 3 ,4 2 1 3 ,6 73 3 ,72 2 8 .8 9 .6 8 .2 8 .8 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 14 1 14 6 111 95 — 2 4 .0 - 3 0 .3 - 3 4 .8 Le s s : p e r so n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 9 47 959 1,0 9 5 1,10 0 14 .8 15 .7 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 2 75 28 4 307 3 17 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 13 ,5 79 13 ,9 3 4 15 ,4 3 3 15 ,72 1 12 .1 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 62 63 66 68 8 .5 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 13 ,5 17 13 ,8 70 15 ,3 6 7 15 ,6 5 3 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 23 9 2 16 3 12 - 2 1 .2 15 .1 14 .7 13 .7 12 .6 12 .8 6 .3 10 .6 8 .0 12 .1 13 .7 12 .6 12 .9 4 8 .5 321 2 6 .5 3 0 .9 3 3 .9 Co n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 904 8 76 1,0 2 0 1,0 3 0 19 .1 12 .8 2 0 .1 M a n u f a c t u r i n g ....................................................................................................................................................... 17.6 2 76 ,112 3 12 ,9 70 4 ,0 11 4 ,10 0 4 ,5 9 9 4 ,6 13 12 .1 14 .6 13 .3 Du r a b l e g o o d s ................................................................................................................................................. 12 .5 176 ,2 16 2 0 3 ,0 5 3 2 ,0 71 2 ,18 9 2 ,5 18 2 ,5 5 3 13 .7 16 .7 2 1.6 15 .2 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 1,9 4 0 1,9 11 2 ,0 8 1 2 ,0 5 9 9 .4 7.3 10 .0 7.8 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 5 ,2 2 5 5 ,4 2 3 5 ,9 5 5 6 ,10 4 12 .8 14 .0 13 .1 12 .6 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ....................................................... 76 ,5 8 4 8 5 ,2 6 4 944 990 1 ,1 1 5 1 ,1 4 7 10 .4 18 .1 11.3 15 .8 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 2 ,12 0 2 ,19 2 2 ,3 6 0 2 ,4 12 13 .6 11.3 14 .1 10 .0 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 586 6 10 653 666 14 .1 11.4 13 .2 9 .2 S e r v c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 1,5 75 1,6 3 1 1,8 2 8 1,8 79 12 .6 16 .1 12 .7 15 .2 2 0 1,2 5 2 2 15 ,0 8 3 3 ,10 1 3 ,2 17 3 ,4 3 7 3 ,5 4 1 7.4 10 .1 Go v e r n m e n t .................................................................................................................................................. 10 .8 6 .9 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 1,3 79 1,4 5 6 1,4 8 1 1,5 3 5 7.3 7.4 7 .1 5 .4 St a t e a n d l o c a l ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 1,72 2 1,76 1 1,9 5 6 2 ,0 0 6 7.5 13 .6 6 .8 13 .9 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 39 39 45 45 18 .7 1 7 .2 14 .6 16 .0 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Al a b a m a U .S . St a t e 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 1 . Co n s u m e r Pr i c e 18 5 .3 I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r eas b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 2 0 1.8 — — St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x, 19 6 7= 10 0 , n ot sea son al l y ad j u s ted U .S . c i t y a ver a g e 2 ........................................................................................................................................ U .S . 19 78 :1V Pe r c e n t c h an g e — — 7.9 — 8 .9 — N O T E.— Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 10 S TA TE Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S L abor F orce F ro m 1977:IV to 1978:IV, A la b a m a ’s civilian labor force in c re ased 3.9 p e rc e n t v ersus 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in cre a se d 4.8 p e rc e n t v ersu s 3.9 p e rc e n t n a tio n a lly , to 1.5 m illion. A m o n g A l a b a m a ’s m a j o r m e t r o p o l i t a n a r e a s , p r e li m i n a r y u n e m p lo y m e n t ra te s fo r D e c e m b e r 1978, w he n th e S ta te ’s ra te w a s 6.3 p e rc e n t, ra n g e d from 6.7 p e r c e n t ' in M o b ile to 5.5 p e rc e n t in M o n tg o m e ry . In B irm ing ha m , th e S ta te ’s la rge st m e tro p o lita n a re a , th e p re lim in a ry u n e m p lo y m e n t ra te w as 5.6 p erc e n t. F ro m D e c em b e r 1977 to D e c e m b e r 1978, th e u n e m p lo y m e n t ra te d eclined 1.0 p e rc e n ta g e p o in t in T u sc a lo o sa , to 5.9 p e rc e n t, c o m p a re d w ith a d ec line o f o nly 0.3 p e rc e n ta g e p o in t statew ide ; T u s c a lo o s a ’s d ec line w as th e large st a m o n g th e S ta te ’s m a jo r m e tro p o lita n areas. W ith e m p lo y m e n t in cre asing by 69,000 a n d th e la b o r forc e in cre asing by 60,000, th e n u m b e r o f unemployed d ec line d by 9,000, to 96,000. A la b a m a ’s unemployment rate dec line d 0.8 p e rc en tag e p o in t, to 6.0 p e rc e n t o f th e la b o r force. T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:IV w as 5.5 p e rc e n t, d ow n 0.7 p e rc e n ta g e p o in t from th e 1977:1V level. Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Al a b a m a Ch a r t Ra t e s , 1 9 7 7 :1 V — 19 78 :1V Pe r c e n t M il li o n s 2.0 6 .— Un e m p l o y m e n t - - ^ 19 77:1V E 8 8 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Al a b a m a Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 St a t e U .S . St a t e U .S . 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e * I h o u s a n d s o t p e r s o n s , n o t s e a s o n a l l y ad j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 1,2 78 1,2 76 1,3 0 4 1,3 0 4 4 .3 2 .0 4 .2 2 .2 M i n i n g ...................................................................................................................................................................................... 78 7 8 99 15 12 16 16 8 .2 11.0 14 .2 3 7.3 3 .4 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 81 76 82 79 10 .4 1.1 11.3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 358 357 358 357 3 .1 .0 3 .7 .2 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 66 67 70 70 3 .8 5 .4 4 .4 4 .5 W h o l es al e a n d r e t a i l t r a d e ........................................................................................... .•.......................................... 19 ,15 2 2 0 ,0 15 26 1 26 4 26 6 2 70 5 .3 1 .7 4 .5 2 .1 - 2 .0 2 .3 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 57 57 58 58 4 .8 1.9 Se r vi c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 179 18 0 18 2 18 3 4 .6 1 .7 4 .4 1.6 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 26 2 26 5 2 73 2 72 2 .1 4 .0 1.4 2 .6 3 .9 Ci v i l i a n l a b o r f o r c e ' .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1,5 6 0 1,5 3 7 1,5 9 7 1,5 9 7 3 .2 2 .3 3 .1 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,4 4 3 1,4 3 2 1,5 0 2 1,5 0 1 4 .1 4 .1 3 .9 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 117 10 5 95 96 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 7.5 6 .8 5 .9 6 .0 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . - 9 .8 — - 1 9 .0 — 4 .8 ’ - 8 .8 — - 8 .8 — A p r il 1979 11 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e l u t e , 19 72 = 10 0 Ch a r t 8 .— Ci v i l i a n Em p l o y m e n t In d e x. 19 72 = 10 0 Ch a r t 9 .— Un e m p l o y m e n t Ra t e Ch a r t 10 .— I n d u s t r i a l C o m p o s i t i o n o f N o n a p i c u K u r a l Em p l o y m e n t : Al a b a m a Pe r c e n t M il li o n s 12 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S C o m m er cia l B a n k in g D u e to c ha nges in the d a ta re p o rtin g p ra c tic e s o f th e F e de ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b an k in g d a ta a rrive d to o la te fo r this re p o r t to in clu d e th e com m e rcial b a n k in g discu ssion a n d th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Al a b a m a Un i t e d St a t e s U .S . St a t e 19 7 7:I V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V St a t e U .S . 19 77:1V — 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e ’ M i l l i o n s o f d o l l a r s , n o t se a s o n al l y a d j u s t e d 1 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 7,5 5 2 7,8 4 7 8 ,8 5 8 n .a . 16 .3 1 7 .3 — — Co m m e r c i a l a n d i n d u s t r i a l ..................................................................................................................................... 19 6 ,3 17 n .a . 2 ,0 8 6 2 ,16 8 2 ,4 3 5 n .a . 14 .2 16 .7 — — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 2 ,6 2 9 2 ,74 1 3 ,0 9 5 n .a . 2 0 .2 1 7 .7 — — Real e s t a t e ............................................................................................................................................................................ 177,9 3 5 n .a . 2 ,0 9 9 2 ,179 2 ,6 18 n .a . 19 .9 2 4 .7 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 891 9 18 1,12 4 n .a . 2 1.3 2 6 .1 — — Fa r m s .................................................................................................................................................................................. 7,73 1 n .a . 18 6 19 2 20 6 n .a . 10 .7 10 .9 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 1,0 2 2 1,0 70 1,2 8 7 n .a . 19 .0 2 6 .0 Fa r m s , e x c l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 307 2 76 280 n .a . 6 .8 - 8 .5 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 43 1 48 3 429 n .a . 8 .0 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 10 ,8 8 9 1 1 ,7 0 1 12 ,2 0 9 n .a . 11.5 D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 3 ,9 8 8 4 ,4 9 0 4 ,3 9 3 n .a . 10 .2 10 .1 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 6 ,9 0 1 7 ,2 1 1 7 ,8 1 7 n .a . 12 .3 13 .3 1. De t a i l m a y n o t a d d t o t o t a l s bec ause of r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . - .5 12 .1 — — — — — — — — — — — A p r il 1979 13 C o n str u c tio n F ro m 1977:IV to 1978:1V, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 25.0 p e rc e n t ($142.7 m illion ), to $714.3 m illion (ta b le 6). T h e U .S . ra te o f g ain w a s 16.8 p erc e n t. N a tio n a l c o n s tru c tio n c osts in c re a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e sp a n , a n d if this in crease is re p re se n ta tiv e o f th e in cre ase th r o u g h o u t th e S ta te, th e real in crease in th e to ta l v a lu a tio n o f c o n tra c ts in A la b a m a w a s 12.0 p e rc e n t versus 3.8 p e rc e n t n a tio n a lly . N o n b u ild in g c o n tra c ts in c re a se d 99.5 p e rc e n t in v a lu a tio n , c o m p a re d w ith 22.2 p e rc e n t n a tio n a lly . A la b a m a ’s in cre ase w a s o n e o f th e la rg e st in th e N a tio n . T h e v a lu a tio n o f th e stre e t a n d h igh w a y c o m p o n e n t o f n o n b u ild in g c o n tra c ts in c re a se d 116.0 p e rc e n t in th e S ta te , c o m p a re d w ith a 16.3-percent n a tio n a l decline. Ch a r t 14 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x , 19 7 6 = 1 0 0 R eside ntial h ou sek e e p in g c o n tra c ts in c re a se d 21.8 p e rc e n t in v a lu a tio n , c o m p a re d w ith 15.6 p e rc e n t n a tio n a lly . T h e n u m b e r o f dw e lling u n its sta rte d in c re a se d 2.4 p e rc e n t (212), to 9,168. N a tio n a lly , th e n u m b e r o f dw e lling u nits s ta rte d re m a in e d v irtu a lly u n c h a n g e d a t a h ig h level. R eside ntial h o u se k e e p in g a d d itio n s a n d a lte ra tio n s in cre a se d 28.2 p e rc e n t in v a lu a tio n , a lm o st tw ice as m u c h a s n a tio n a lly . N o n re sid e n tia l c o n tra c ts , in c o n tra s t, dec line d 20.0 p e rc e n t in v a lu a tio n in th e S ta te , c o m p a r e d w ith a 15.8-percent n a tio n a l incre ase. A la b a m a ’s dec line w as o n e o f th e la rge st in th e N a tio n . Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — Va l u a t i o n o f Co n t r a c t s b y Ty p e : Al a b a m a M il li o n S Ch a r t 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 ' Un i t e d St a t e s Al a b a m a US. St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 19 78 :1V Pe r c e n t c h a n g e 2 N o t seaso nally adjus ted To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. St a t e 19 7 7:1V — 19 77:111— 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 6 4 9 ,4 8 4 5 71,5 5 3 79 1,3 0 8 714 ,2 9 3 14 .5 2 1.8 16 .8 2 5 .0 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 13 1,0 6 8 113 ,6 5 0 15 6 ,5 6 7 14 5 ,6 78 16 .8 19 .5 14 .6 2 8 .2 - 2 .8 - 9 .3 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,0 2 4 9 76 995 906 4 .4 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 5 18 ,4 16 4 5 7,9 0 3 6 3 4 ,74 1 5 6 8 ,6 15 14 .0 2 2 .4 1 7 .4 - 7 .2 2 4 .2 Fl o o r ar e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 18 ,9 4 8 17,4 4 4 2 4 ,10 0 18 ,3 5 6 10 .8 2 7.2 10 .2 5 .2 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 25 9 25 9 25 1 2 73 - 5 .1 - 3 .1 - 4 .3 5 .4 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 8 ,9 9 5 8 ,9 5 1 10 ,3 2 7 9 ,16 8 1.0 14 .8 - .6 2 .4 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17 ,19 8 ,5 18 2 5 1,5 5 8 2 4 2 ,4 9 9 3 19 ,72 1 2 9 5 ,4 6 4 15 .3 2 7.1 15 .6 2 1.8 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 12 ,5 0 5 12 ,3 3 9 15 ,0 70 13 ,78 3 10 .3 2 0 .5 10 .7 1 1 .7 - 1 0 .0 Re s i d e n t i a l nonhouse keepin g: Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 3 2 6 4 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 2 ,14 1 1,0 9 7 6 ,73 8 14 ,16 5 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 97 51 172 304 - .7 9 .4 10 0 .0 - .4 2 14 .7 4 4 .8 7 7 .7 2 4 .7 10 0 .0 *** 4 9 0 .9 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 5 55 49 8 45 4 393 - 2 .5 - 1 8 .2 - 1 2 .0 - 2 1 .1 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 19 6 ,13 8 14 1,0 73 2 0 7,4 6 3 112 ,8 5 7 2 7.6 5 .8 15 .8 - 2 0 .0 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 6 ,3 4 6 5 ,0 5 4 8 ,8 5 8 4 ,2 70 12 .2 3 9 .6 8 .9 - 1 5 .5 2 2 .4 3 7.2 - 9 .1 8 .8 - .1 4 7.0 2 2 .2 9 9 .5 No n b u i l d i n g : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,17 6 207 2 17 28 4 23 6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 6 8 ,5 79 73 ,2 3 4 10 0 ,8 19 14 6 ,12 9 St r e e t s a n d Hi g h w a y s : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 53 65 90 70 9 .3 6 9 .8 - 1 7 .8 7 .7 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 6 ,9 12 3 5 ,4 70 2 9 ,13 0 76 ,6 0 7 3 .0 3 2 1.4 - 1 6 .3 116 .0 • • • P e r c e n t c h a n g e g r e a t e r t h a n 9 9 9 .9 . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 1 . Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . In for m ati on Sy s t e m s Co m p a n y . N O T E.— De t a i l f o r f l o o r ar ea d a ta m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Pe r c e n t c h a n g e s f o r f l o o r ar e a b a s e d o n u n r o u n d e d d a t a R e ta il S a le s R e ta il sales d a ta fo r A la b a m a a re n o t a va ilab le . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Al a b a m a U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 Per c e n M il li o n s o f do ll ar s , n ot seaso nally adjus ted S 'a l . 1 9 7 7 :1 V - c han ge Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .i . n .a . n .a . 10 .3 — 1 1 .2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 — 15 .3 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — 9 .2 — n .a .: Da t a n o t a v a i l a b l e . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Al a b a m a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Al a b a m a Un i t e d St a t e s U .S . St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 10 9 ,4 11 1,6 8 4 n .i . n .a . 1,2 14 42 19 78 :1V 19 78 :111 Pe r c e n t c h an g e No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ St a t e 19 7 7:1V — 1 9 7 7 :1 1 1 - 1,0 5 1 20 1,2 2 2 25 n .i . n .i . 8 .2 - 9 .5 .7 — — - 4 0 .5 — — — — Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 10 ,18 6 5 ,11 1 6 ,4 9 8 n .a . - 4 4 .2 - 3 6 .2 — Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 243 25 6 26 0 n .a . - 3 8 .4 7.0 — Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 4 1 1 n .a . - 1 0 .1 — 75 .0 — — C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 9 5 8 n .a . 1.0 - 1 1 .1 — — W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 4 3 3 n .a . - 2 7 .1 - 2 5 .0 Re t a i l t r a d e .......................................................................................................................................................................... 688 n .a . 24 5 12 n .a . - 4 .2 - 5 0 .0 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 1 6 1 n .a . - 2 4 .0 .0 n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n 8 Br a d s t r e e t, In c . — — — N O T E— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & — — — Br a d s t r e e t, In c . A p r il 1979 15 H ig h lig h ts 1977 :IV to 1978 :IV Personal income — U p 3.4% vs. 12.6% in U .S ., to $4.5 billion — C o n s tru c tio n p ay ro lls d o w n 29.0% vs. 20.1% g a in in U .S. — M in in g p a y ro lls up 47.5% vs. 33.9% in U .S. Consumer prices — A n c h o ra g e index u p to 194.8 in 1978:1V (1 9 6 7 = 1 00 ) Employment — U p 6.7% vs. 3.9% in U .S ., to 164,000 Unemployment — U p 4,000, to 20,000 — R a te u p 1.7 p e rc e n ta g e p o in ts, t o 11.0% o f la b o r force, h ig he st ra te in N a tio n a n d tw ice th e n a tio n a l ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 1.8% vs. 16.8% in U .S ., to $109 m illion — N u m b e r o f d w e llin g -u nit s ta rts up 23.5% vs. n e a r stab ility in U .S ., to 766 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Al a s k a Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 Al a s k a U .S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V ---------------------------------- mu 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 m u i c a i o r s , ex c e p i i n c o m e , n o i s e a s o n a l l y a d u s t ed 1,5 8 3 ,5 0 8 1,78 2 ,5 19 4 ,2 2 5 4 ,3 0 3 4 ,3 16 4 ,4 5 1 12 .4 To t a l w ag e s a n d s a l a r i e s (m i l l i o n s o f d o l l a r s ) ........................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,6 2 0 3 ,6 77 3 ,5 4 7 3 ,6 72 1 2 .1 9 2 ,4 4 2 9 6 ,0 10 16 6 15 3 174 16 4 6 ,14 9 5 ,6 0 5 14 16 18 20 9 .3 9 .4 11.0 Un e m p l o y m e n t ( t h o u s a n d s ) ................................................................................ Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) ...................................................... 19 78 :1V Pe r c e n t c h an g e To t a l p e r so n al I n c o m e (m i l l i o n s o f d o l l a r s ) ............................................... Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ....................................................... 2 .2 4 .1 - 9 .8 — 3 .9 6 .7 - 8 .8 2 9 .5 _____ _____ 5 .5 7.6 n .a . 1,0 2 0 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ............................................................................ 9 2 5 ,5 11 n .a . 1,5 15 1,5 19 1,6 6 7 n .a . 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 16 4 ,6 5 2 10 7,3 4 3 2 8 5 ,79 6 10 9 ,2 76 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................... 4 4 5 ,77 2 4 4 3 ,0 75 1,16 3 6 20 1,78 6 76 6 1.0 To t a l r e t a i l sal e s (m i l l i o n s o f d o l l a r s ) ........................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .i . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ...................................................................... 10 9 ,4 11 n .a . 343 342 335 n .a . 1,6 8 4 n .a . 0 1 0 n .a . - 9 .5 ____ 18 5 .3 — 2 0 1.8 — ___ 7.9 _ To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. B u s i n e s s f a i l u r e s ( n u m b e r ) ................................................................ Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e .............................................................................................................................. An c h o r a g e ........................................................................................... n.n. t)ata ntn awintnt1.------So u r c e : Se e t a b l e s 2 t h r o u g h 8 . _____ _____ — — _____ 19 0 .7 19 4 .8 - .2 4 .6 6 .2 n .a . 3 .4 12 .6 3 1 .7 6 10 ,5 0 2 1,15 5 12 .6 - 2 .0 To t a l l o a n s ( m i l l i o n s o f d o l l a r s ) ............................................................................ 1,0 4 1 St a t e 1 9 7 7 :1 V - — 13 .1 — _____ 11.5 10 .0 — _____ 14 .5 73 .6 16 .8 5 3 .6 - .6 16 .3 8 .2 — - 2 .3 1.8 2 3 .5 1 1 .2 ___ _____ _____ _____ _____ 8 .9 — S TA TE Q U A R T E R L Y E C O N O M IC 16 DEVELO PM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se a son ally a d ju s te d a t a n n u a l ra te s) in A la sk a in c re a se d 3.4 p e rc e n t fro m 1977:IV to 1978:IV, a n in cre a se th a t w as a b o u t o n e -th ird o f th e N a tio n ’s a n d th a t w as th e sm allest a m o n g all S ta te s (ta b le 2). In 1978:IV, A la s k a ’s p e rso n a l in c o m e to ta le d S4.5 bil lion , up $148 m illion since 1977:1V. T h e Consumer Price Index (1 9 6 7 = 1 0 0 ) fo r A n c h o ra g e w as 194.8 in 1978:IV, u p from 190.7 in 1978:111 (ta b le 3). S ince th e la st n a tio n a l busine ss cycle p e a k in 1973:IV, A la s k a ’s ec o no m y h as g ro w n a t o n e o f th e fa ste st ra te s in th e N a tio n ; th e in cre a se in th e S ta te ’s n o n fa rm in c o m e w a s 64 p e rc e n t m o re th a n n a tio n a lly , ra n k in g A la sk a se c on d to W y o m in g a m o n g all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] F ro m 1977:IV to 1978:IV , wage and salary disbursements (pa y ro lls) in th e S ta te dec lin ed 0.2 p erc e n t, in s h a rp c o n tra s t to th e N a tio n ’s 12.6p e rc e n t ave rag e in cre ase. T w o o f th e S ta te ’s m a jo r in d u s trie s— c o n s tru c tio n a n d tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic u tilitie s— re gistere d p a y ro ll declines th a t w ere th e la rge st in th e N a tio n . C o n s tru c tio n p a y ro lls dec line d 29.0 p e rce nt, c o m p a re d w ith a n a tio n a l in cre ase o f 20.1 p erc e n t. In 1978:IV, A la s k a ’s c o n stru c tio n p a y ro lls a c c o u n te d fo r 10.9 p e rc e n t o f all S ta te p ay rolls; th is share w a s well ab o ve th e n a tio n a l ave rage sh a re o f 5.9 p erc e n t. T h e S ta te ’s c o n s tru c tio n sha re h as dec line d stea dily since 1976:1 V, w hen it exceeded 30 p erc e n t. P a y rolls in th e tra n s p o r ta tio n g ro u p dec line d 7.7 p e rc e n t from y ea r to year, to $400 m illion. T ra d e p ay ro lls in cre a se d 1.6 p erc e n t, lagging th e N a tio n ’s 14.1-percent g a in . Services p ay ro lls in c re a se d 3.9 p erc e n t, c o m p a re d w ith a n a tio n a l g a in o f 12.7 p erc e n t, to $519 m illion. F e d e ra l G o v e rn m e n t p ay ro lls in c re ased 4.1 p erc e n t, lag gin g th e N a tio n ’s g a in by 3 p e rc e n ta g e p o ints. S ta te a n d local g o v e rn m e n t p a y ro lls inc re a se d 9.2 p e rc e n t, lea din g th e n a tio n a l a v e rag e in crease o f 6.8 p erc e n t, to $617 m illion. In 1978:IV, the se p a y ro lls a c c o u n te d fo r 16.8 pe rc e n t o f all S ta te p a y rolls, a sh are th a t w as exceeded o n ly in N e w M exico (17.5 p erc e n t). M in in g p a yro lls inc re a se d 47.2 p e rce nt, re flecting th e grow ing im p o rta n c e o f p e trole um to th e A la ska n e c onom y. Pe r c e n t S ta te u n e m p lo y m e n t in s u ra n c e bene fits declined 23.7 p e rc e n t (to $72 m illion), c o m p a re d w ith a 3 0 .3 -p erc en t dec line in th e N a tio n . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 : 1 V - 19 78 :1V Pe r c e n t To t a l Pe r s o n a l M ining In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s C h a r t 3 .— To t a l Pe r s o n a l I n c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n [Se a s o n a l l y a d j u s te d ] o f W a g e s a n d Sa l a r i e s : Al a s k a [Se a s o n a l l y a d j u s t e d ] T A B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Al a s k a U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :1 19 78 :1V 19 78 :111 M i l l i o n s o f d o l l ar s , season al l y ad j u s te d at an n u al r ate s1 To t a l p e r s o n a l i n c o m e To t a l p e r s o n a l i n c o m e W a g e a n d s a l a r y d i s b u r s e m e n t s ......................... 1,78 2 ,5 19 4 ,2 2 5 4.3 0 3 4 ,3 16 4 ,4 5 1 12 .4 2 .2 12 .6 3 .4 3 1,2 2 4 3 9 ,4 5 1 4 5 5 7 4 7.9 21.8 2 6 .3 2 7.8 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 4 ,2 2 1 4 ,2 9 8 4 ,3 11 4 ,4 4 4 11.9 2 .1 12 .3 3 .4 1,5 8 3 ,5 0 8 1,78 2 ,5 19 4 ,2 2 5 4 .3 0 3 4 ,3 16 4 ,4 5 1 12 .4 2 .2 12 .6 3 .4 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,6 2 0 3 ,6 77 3 ,5 4 7 3 ,6 72 12.1 2 .0 9 6 ,0 16 1 1 1 ,7 1 9 25 8 12.6 26 8 -.2 26 6 26 8 17 .0 10 5 ,9 5 3 3 .0 12 5 ,9 9 5 16 .4 20 9 .3 20 5 207 2 16 2 1.5 2 3 ,6 3 6 -1.1 18 .9 3 1,0 4 4 5 .3 11.9 3 1.3 4 4 .6 Ot h e r l a b o r i n c o m e ...................................................... Pr o p r i e t o r s ’ i n c o m e ....................................................... Fa r m .................................................................................... N o n f a r m .......................................................................... Di v i d e n d s , i n t e r e s t , a n d r e n t ................................. Tr a n s f e r p a y m e n t s ......................................................... St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s . Fa r m ............................................................................................................................ M i n i n g ................................................................................................................... 3 2 4 6 6 .6 8 2 ,3 17 9 4 ,9 5 1 20 7 20 3 20 5 2 12 12 .8 2 4 2 ,4 4 2 333 337 38 2 3 9 7. 12 .3 2 15 ,9 4 4 2 3 3 ,75 0 389 359 381 369 13 0 94 91 72 - 2 4 .0 - 3 0 .0 - 3 0 .3 - 2 3 .7 25 2 14 .8 - 1 .3 15 .1 - 2 .5 12.6 10.6 12.6 10 .0 11,12 8 7,75 3 7 1,6 10 25 5 25 8 -4 0 1 -4 73 -3 3 0 -2 8 5 - 2 16 - 2 19 1,0 13 ,2 16 1,14 0 ,6 9 6 Pl u s : r e si d e n c e a d j u s t m e n t ..................................... N o n f a r m ................................................................................................................... 2 - 2 14 ,9 9 2 6 2 ,2 12 Le s s : p e r so n al c o n t r i b u t i o n s ................................. W ag e a n d s a l a r y d i s b u r s e m e n t s .................................................................. 19 78 :1V Pe r c e n t c h a n g e 2 1,5 8 3 ,5 0 8 Fa r m p e r s o n a l i n c o m e .................... No n f a r m p e r so n al i n c o m e .......... St a t e 19 7 7:1V — 25 1 8.8 - 1 .3 14 .6 2 .0 - 3 ,6 2 0 3 ,6 77 3 ,5 4 7 3 ,6 72 12.1 7 ,17 6 - 2 .0 7,9 3 9 2 2 2 2 8 .5 3 6 .2 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 3 ,6 19 Co n s t r u c t i o n ................................................................................................... M a n u f a c t u r i n g ............................................................................................... Du r a b l e g o o d s .......................................................................................... No n d u r a b l e g o o d s ................................................................................ Pr i v a t e s e r v i c e - t y p e .................................................................................. Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s W h o l es al e a n d r e t a i l t r a d e ............................................................ Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ....................................... Se r v i c e s ......................................................................................................... Go v e r n m e n t ..................................................................................................... Fe d e r a l ........................................................................................................... St a t e a n d l o c a l ........................................................................................ O t h e r .............................................................................................. 15 .3 4 .8 12.8 8.2 1 7 .7 2.6 - .2 3 ,6 75 3 ,5 4 5 3 ,6 6 9 14 ,0 4 8 12.1 18 ,8 13 16 2 18 1 23 7 26 7 2 6 .5 5 5 ,6 4 8 4 6 .1 3 3 .9 6 6 ,8 5 8 6 72 4 7.5 56 7 40 6 402 19 .1 2 76 ,112 - 3 9 .6 3 12 ,9 70 19 2 20.1 - 2 9 .0 19 4 223 18 4 12 .1 176 ,2 16 16 .4 2 0 3 ,0 5 3 13 .3 - 4 .9 60 63 60 46 13 .7 .5 9 9 ,8 9 6 15 .2 10 9 ,9 17 - 2 7 .0 13 1 13 0 16 2 13 8 9 .4 2 3 .7 4 5 5 ,76 4 5 15 ,3 4 8 10 .0 1,4 5 3 1,4 9 5 1,4 5 1 1,4 9 5 76 ,5 8 4 12.8 - .2 13 .1 8 5 ,2 6 4 363 .0 433 40 7 400 10 .4 170 ,8 8 8 12.1 11.3 19 5 ,0 3 5 - 7 .7 399 424 426 431 13 .6 6 .9 14 .1 1.6 13 8 14 5 14 5 14 .1 15 .7 13 .2 5 .3 12.6 2 .0 - - .2 5 .9 5 4 ,4 5 2 6 1,6 5 3 12 5 15 3 ,8 4 0 173 ,3 9 6 566 5 00 4 73 5 19 2 0 1,2 5 2 2 15 ,0 8 3 1,110 1 2 .7 3 .9 1,2 0 9 1,19 5 1,2 8 7 7.4 6 8 ,176 7 .7 6 .9 73 ,0 0 3 6 .5 6 09 644 649 6 70 7.3 13 3 ,0 76 6 .7 7.1 14 2 ,0 8 0 4 .1 501 565 545 6 17 7.5 3 ,2 16 8 .9 3 ,6 8 5 6 .8 9 .2 30 30 34 33 18 .7 13 .0 14 .6 12 .4 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . N <■ n 2 . Ba s e d o n u n r o u n d e d d a t a , „ . :> o u r c e - u y D iv is io n . , . - 1 6 .5 , „ Ue p a r t m e n t o f Co m m e r c e . Bu r e a u o f Ec o n o m i c An a l y s i s , Reg i o n a l Ec o n o m i c M e a s u r e m e n t T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Al a s k a US. St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 I n d e x, 19 6 7 = 1 0 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ve r a g e 1 . 18 5 .3 An c h o r a g e ......................................... So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . " V> t m n . 19 78 : IV Pe r c e n t c h an g e 2 0 1.8 7.9 19 0 .7 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r eas b ase d o n t h e 19 70 Ce n s u s o< St a t e 19 7 7 :1V — 8 .9 19 4 .8 N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 7 8 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . S TA TE Q U A R T E R L Y 18 E C O N O M IC D EVELO PM EN TS L ab or F o r c e W ith e m p lo y m e n t increasing by o n ly 11,000 a n d th e la b o r force in c re a sin g by 15,000, th e n u m b e r o f unemployed increased by 4,000. T h e unemployment rate inc re a se d 1.7 p e rc e n ta g e p o ints, to 11.0 p e rc e n t o f th e la b o r force. W hile in 1977:IV, A la s k a ’s u n e m plo y m e nt ra te w as 3 p e rc e n ta g e p o in ts abo ve th e N a tio n ’s 6 .2-pe rc e nt rate; in 1978:IV, it was tw ice th e N a tio n ’s 5.5-pe rc e nt ra te a n d w as h ig her th a n in an y o th e r S ta te . H a w a ii a n d th e D istric t o f C o lu m b ia h a d the n ext h igh est rates, b o th a t 7.8 pe rc e n t o f th e la b o r force. F ro m 1977:IV to 1978:IV, A la s k a ’s civilian labor force inc re a se d 8.8 p e rc e n t, th e la rge st a dv a n c e a m o n g all S ta tes a n d well a b o v e the N a tio n ’s 3 .1-pe rc e nt a dv a n c e (ta b le 4). Total employment increased from 153,000 to 164,000, a 6 .7-pe rc e nt a dv an ce. A la s k a ’s a dv a n c e was exc eede d in o nly th re e o th e r S ta tes a n d w a s a lm o s t 3 p e rc e n ta g e p o in ts a bo v e th e n a tio n a l av erag e a dva nce. Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Ch a r t Un e m p l o y m e n t , 19 78 :1V : Al a s k a Pe r c e n t Th o u s a n d s 2 0 0 .0 6 .— Un e m p l o y m e n t Ra t e s , 1 9 7 7 :I V - 1 9 7 8 : I V - - ^ 19 7 7 :I V B S 9 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Al a s k a Un i t e d St a t e s St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 7 7:1V — 19 78 :1V 19 78 :111 19 78 :1V St a t e U .S . 1 9 7 7 :1 1 1 - Pe r c e n t c h an g e’ Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 16 9 15 8 16 7 15 6 4 .3 - .7 4 .2 M i n i n g ......................... ............................................................................................................................................................ 78 7 899 5 4 5 5 8 .2 8 .3 14 .2 18 .6 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 21 18 17 13 10 .4 - 1 9 .3 11.3 - 2 7 .5 - 1 .5 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 13 9 15 9 3 .1 14 .8 3 .7 9 .3 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 16 15 16 14 3 .8 - .6 4 .4 - 2 .7 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 29 27 29 28 5 .3 - .3 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 8 8 8 8 4 .8 2 .5 Se r vi c e s .................................................................................................................................................................................. 15 ,5 3 9 16 ,2 15 27 25 26 25 4 .6 - 3 .7 4 .4 .8 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 50 52 51 53 2 .1 3 .0 1.4 1.9 4 .5 - 2 .0 1 .1 - 1 .3 Ci vi l i a n l a b o r f o r c e 1 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 18 0 16 9 19 2 18 4 3 .2 6 .6 3 .1 8 .8 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 16 6 15 3 174 16 4 4 .1 4 .6 3 .9 6 .7 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 3 1.7 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 - 8 .8 — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 14 _____ Lè_ _ _ _ 16 _____ 18 _____ _ _ _ _ _ _ _ 20 H .O _ _ _ _ - 9 .8 — — 2 9 .5 — A p r il 19 1979 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e I n d e x, 19 72 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t In d e x. 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n Th o u s a n d s o f No n a g r i c u l t u r a l Em p l o y m e n t : Al a s k a 20 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS C o m m er cia l B a n k in g D u e to c h a ng es in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b an k in g d a ta a rriv e d to o la te fo r this re p o r t to in clu d e th e com m ercial b a n k in g discussion a n d th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . 12 T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s St a t e u s . Al a s k a U.S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 1,0 2 0 Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 327 1,0 4 1 29 9 19 78 :1V 19 78 :111 M i l l i o n s o f d o l l a r s , n o t sea s o n a l l y a d j u s t e d 1 St a t e 19 7 7:1V — Pe r c e n t c h a n g e ' 1,15 5 394 n .a . 16 .3 n .a . 14 .2 13 .1 — — 2 0 .4 — ___ Lo a n s t o i n d i v i d u a l s ...................................................................................................................................................... 14 0 ,5 9 9 n .a . 25 4 28 5 28 6 n .a . 2 0 .2 12 .8 — — Real e s t a t e ............................................................................................................................................................................ 177,9 3 5 n .a . 4 11 446 46 6 n .a . 19 .9 13 .3 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 2 15 2 14 23 1 n .a . 2 1.3 7.5 — — Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 0 0 0 n .a . 10 .7 6 1.9 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 19 7 23 2 23 5 n .a . 19 .0 19 .6 — — Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 0 0 0 n .a . 6 .8 - 7 7 .8 — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 28 12 8 n .a . 8 .0 - 6 9 .8 — — To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 1,6 6 7 n .a . 10 .0 — — — — 1,5 15 1,5 19 11.5 D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 770 72 6 78 6 n .a . 10 .2 2 .1 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 74 5 79 3 881 n .a . 12 .3 18 .3 — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 21 C o n str u c tio n T h e to ta l v a lu a tio n o f c o n tra c ts rose on ly 1.8 p e rc e n t from 1977:IV to 1978:IV, to $109 m illion. A la s k a ’s ga in lag ged th e N a tio n ’s ga in by 15 p e rc e n ta g e p o in ts (ta b le 6). N a tio n a l c o n s tru c tio n c o sts ro se a b o u t 13 p e rc e n t d u rin g th e sam e tim e sp a n ; if th is rise reflects th e a dv a n c e th ro u g h o u t A la s k a , th e real v a lu a tio n o f c o n tra c ts de c line d a b o u t 11 p e rc e n t in th e S ta te versus a rise o f a b o u t 4 p e rc e n t n atio n a lly . T h e v a lu a tio n o f re side n tia l n o n h o u se k e e p in g c o n tra c ts in A la sk a d eclined from $11.2 m illion in 1977:IV to o nly $600,000 in 1978:IV. T his s h a rp y e a r-to -y e a r p e rc e n t dec line c o m p a re d w ith a 4 4 .8 -p erc en t n a tio n a l increase. N o n b u ild in g c o n tra c ts also dec line d in v a lu a tio n , fro m $33.8 m illion in 1977:IV to $28.0 m illio n in 1978:IV. T his 17.1-p e rc e n t dec line c o m p a re d w ith a 2 2 .2 -p e rc e n t g a in n a tio n a lly . A m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , stree ts a n d high w ays, de c line d 26.1 p e rc e n t in v a lu a tio n , to $10.6 m illion. Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x, 19 76 = 10 0 T h e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts rose 10.4 p erc e n t, lagging th e N a tio n ’s av erag e ga in o f 15.8 p erc e n t, to $27.5 m illion. B oth m a jo r ty p es o f re side n tia l h o u se k e e p in g c o n tra c ts re gistere d g ains in v a lu a tio n th a t fa r exceeded th o se o f n a tio n a l c o u n te rp a rts . T he v a lu a tio n o f c o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e ntia l ho usek e ep ing u n its rose 31.5 p erc e n t, m o re th a n tw ice th e n a tio n a l gain, to $10.8 m illion. A la s k a ’s g a in w a s e xceeded by g a in s in o n ly five S tates. T h e v a lu a tio n o f c o n tra c ts fo r new re sid e n tia l h o u s e k e e p in g u n its rose by a lm o s t o n e -h a lf, c o m p a re d w ith a n a tio n a l g a in o f 15.6 p e rc e n t, to $42.3 m illion . T h e n u m b e r o f dw elling u n its s ta rte d rose from 620 to 766; th e S ta te ’s 2 3.5 -p erc e n t g a in w as o n e o f th e la rge st in th e N a tio n . N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w as a lm o st u nc h a n g e d a t a h igh level. Ch a r t 15 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Al a s k a M il li o n $ Ch a r t 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Al a s k a U .S . St a t e U .S . 19 77:111 — 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. St a t e 19 7 : 1 V 19 78 :1V Pe r c e n t c h a n g e 2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 16 4 ,6 5 2 10 7,3 4 3 2 8 5 ,79 6 10 9 ,2 76 14 .5 73 .6 16 .8 1.8 7,70 7,9 8 7 8 ,8 3 2 ,3 5 3 8 ,5 0 7 8 ,2 4 6 10 ,78 6 10 ,8 4 3 16 .8 2 6 .8 14 .6 3 1.5 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 220 20 4 3 15 18 7 4 .4 4 3 .2 - 9 .3 - 8 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 15 6 ,14 5 9 9 ,0 9 7 2 75 ,0 10 9 8 ,4 3 3 14 .0 76 .1 1 7 .4 - .7 Fl o o r a r e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 4 ,7 2 7 1,2 3 1 3 ,4 0 9 1,2 6 0 10 .8 Re s i d e n t i a l - 2 7 .9 10 .2 2 .4 housekeepi ng: Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 83 62 10 7 98 - 5 .1 2 8 .9 - 4 .3 5 8 .1 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 1,16 3 6 20 1,78 6 76 6 1.0 5 3 .6 - .6 2 3 .5 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 6 6 ,2 0 3 2 9 ,14 3 9 6 ,9 2 3 4 2 ,3 15 15 .3 4 6 .4 15 .6 4 5 .2 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 2 ,2 4 5 70 5 2 ,3 2 6 935 10 .3 3 .6 10 .7 3 2 .6 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 505 7 4 3 2 - 10 .0 - 5 7 .1 - .4 - 5 0 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 11,9 0 8 11,19 4 1,0 78 557 9 .4 - 9 0 .9 4 4 .8 - 9 5 .0 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 29 9 16 5 2 0 - .7 - 9 9 .5 2 4 .7 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 59 58 86 38 - 2 .5 4 5 .8 - 1 2 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 3 0 ,5 5 5 2 4 ,9 2 8 10 6 ,9 9 4 2 7,5 3 1 2 7.6 2 5 0 .2 15 .8 10 .4 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 2 ,18 3 361 1,0 8 2 3 26 12 .2 - 5 0 .5 8 .9 - 9 .8 - 3 4 .5 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 71 80 119 49 2 2 .4 6 7.6 - 9 .1 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 4 7,4 7 9 3 3 ,8 3 2 70 ,0 15 2 8 ,0 3 0 - .1 4 7.5 2 2 .2 St r e e t s a n d — 3 8 .7 - 1 7 .1 Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 18 22 28 8 9 .3 5 5 .6 - 1 7 .8 - 6 3 .6 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 2 2 ,6 8 4 14 ,3 6 4 14 ,0 6 1 10 ,6 2 2 3 .0 - 3 8 .0 - 1 6 .3 - 2 6 .1 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h a n g e s f o r f l o o r ar ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r ar e a d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . R e ta il S a le s R eta il sales d a ta fo r A la sk a a re n o t a v a ila ble. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Al a s k a U .S . St a t e U.S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :I V 19 78 :111 M ill io ns of do ll ar s , n ot seasonally adjus ted St a t e 1 9 7 7 :1 V 19 78 :1 V Pe r c e n t c h an ge . Re t a i l s a l e s ........................................................................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 1 1.2 Du r a b l e g o o d s .............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 1 1.8 15 .3 No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 9 .2 n .a .: Da t a n o t a va i l a b l e . — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Al a s k a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Al a s k a U .S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d 19 78 :1V Pe r c e n t c h an g e Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . 3 43 342 335 n .a . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 0 1 0 n .a . Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 0 25 5 0 n .a . Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 0 25 5 0 n .a . 8 .2 - 2 .3 — — — — — - 4 4 .2 _______ _ __ __ __ ___ - 3 8 .4 — — — - 9 .5 n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . St a t e 1 9 7 7 :1 V - N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 23 1977 :IV to 1978 :IV Personal income — U p 17.5% vs. 12.6% in U .S., to $18.4 billion — C o n s tr u c tio n p ay ro lls up 45.0% , la rge st ga in in U .S. — P riv a te service-type p ay ro lls u p 19.2% vs. 13.1% in U .S . Employment — U p 6.7% vs. 3.9% in U .S ., to 984,000 Unemployment — D o w n 14,000, to 57,000 — R a te d o w n 1.6 p e rc e n ta g e p o in ts, to 5.5% o f la b o r fo rce, sam e as in U .S . Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 52.0% vs. 16.8% in U .S ., to $892 m illion — N u m b e r o f d w e lling -u n it s ta rts up 28.0% vs. n e a r stab ility in U .S ., to 13,442 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ar i zo n a T h r o u ( h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Ar i zo n a I U .S . St a t e 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 19 7 7:1V — 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d 1 U .S . 19 77:111 — 19 78 :1V Pe r c e n t c h a n g e To t a l p e r s o n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1.5 S3 .5 0 8 1,70 2 ,5 19 15 ,0 70 15 ,6 0 0 17,73 1 10 ,4 2 0 12 .4 17.6 12 .6 17.5 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,4 3 7 9 ,0 0 6 11,2 3 2 11,72 4 12 .1 19 .0 12 .6 10 .6 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,«4 2 9 6 ,0 10 093 9 22 930 9 « Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 00 71 57 57 0 .3 7.1 5 .0 5 .5 4 .1 - 9 .0 5 .1 - 2 0 .5 3 .9 6 .7 - 0 .0 - 1 9 .4 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a. 5 ,0 0 1 5 ,4 17 6 ,10 0 n .a . 16 .3 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a. 7,0 9 0 7,6 0 1 0 ,2 2 0 n .a . 11.5 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 0 ,9 13 ,111 4 5 ,4 5 9 ,773 717,10 1 5 0 6 ,6 « 0 4 1,3 16 0 9 1,0 0 0 14 .5 17.3 16 .0 5 2 .0 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 « 3 ,0 7 5 12 ,6 14 10 ,4 9 0 15 ,179 1.0 2 0 .3 - .6 2 0 .0 To t a l r e ta i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n j. 1,79 7 1,714 2 ,3 9 4 n .a . 0 .2 3 3 .2 B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 0 4 n .a. 16 15 11 n .a . - 9 .5 - 3 1 .2 10 5 .3 2 0 1.0 13 ,« 2 — — — — 2 0 .2 — — 16 .1 — — 11.2 — — — — — Co n s u m e r Pr i c e I n d e * ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . — — — — 7.9 — 0 .9 — 24 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju s te d a t a n n u a l ra te s) in A riz o n a in c re a se d 17.5 p e rc e n t from 1977:IV to 1978:IV, fa r o u tp a c in g th e N a tio n ’s 12.6-perc ent in cre ase a n d ra n k in g fifth a m o n g all S ta te increases (ta b le 2). In 1978:1 V, A riz o n a ’s p e rso n a l in co m e to ta le d $18.4 b illion, up $2.7 b illio n since 1977:IV. R eflec ting stro n g increases in all b u t o n e m a jo r in d u stry , wage and salary disbursements (p a y ro lls) in cre a se d 18.6 p e rc e n t versus 12.6 p e rc e n t n a tio n a lly , to $11.7 b illio n. T h e in cre ase w as large r o n ly in W yo m ing a n d N e v a d a . C o n s tru c tio n p a y ro lls increased 45.0 p erc e n t, lead in g all A riz o n a p a y ro ll g ain s a n d ra n k in g first a m o n g all c o n s tru c tio n p a y ro ll g ains n a tio n a lly . F ro m 1977:IV to 1978:IV, th re e o f th e fo u r p riv a te service-type in d u strie s re gistered p a y ro ll g a ins th a t Ch a r t 1 .— Pe r s o n a l w ere a m o n g th e la rg e st in th e N a tio n . M a in ly re flec ting in c re a se d to u ris m — du e, in p a rt, to th e re c en t d e re g u la tio n o f th e N a tio n ’s airlines— tra d e p a yro lls in c re a se d 21.6 p e rc e n t v ersu s 14.1 p erc e n t n a tio n a lly , a n d tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities p a yro lls inc re a se d 14.2 p e rc e n t v ersu s 11.3 p e rc e n t n a tio n a lly . Services in d u stry p a yro lls inc re a se d 18.2 p e rc e n t, c o m p a re d w ith a n a tio n a l in cre ase o f 12.7 p erc e n t. M a n u fa c tu rin g p a y ro lls in c re ased 17.2 p e rc e n t, o u tp a c in g th e N a tio n ’s gain by a lm o st 4.0 p e rc e n ta g e p o in ts. P a yro lls in b o th the d u ra b le s a n d n o n d u ra b le s c o m p o n e n ts o f m a n u fa c tu rin g inc re a se d m o re th a n n a tio n a l c o u n te rp a rts . F e d e ra l G o v e rn m e n t p a y ro lls in the S ta te in c re ased 12.2 p e rc e n t, o n e o f th e la rge st in creases in th e N a tio n , to $993 m illion . S ta te a n d local g o v e rn m e n t p ay ro lls in c re a se d 7.6 p e rce nt, th e sm allest in cre ase a m o n g th e S ta te ’s m a jo r in du strie s, c o m p a re d w ith 6.8 p e rc e n t n atio n a lly . M ining p a y ro lls in c re a se d 24.6 p e rc e n t, a p p a re n tly sign aling re co very from re d u c e d levels o f o u tp u t in 1977 a n d th e first th re e q u a rte rs o f 1978. W o rld c o p p e r pric e s inc re a se d in 1978:IV, th e re by stim u la tin g c o p p e r o u tp u t in th e S ta te . C o p p e r m ining in A riz o n a a c c o u n ts fo r 85 p e rc e n t o f th e va lue o f th e S ta te ’s m inin g o u tp u t a n d fo r 55 p e rc e n t o f all c o p p e r to n n a g e m ine d in th e U n ite d S tates. I n c o m e , Pe r c e n t C h a n i e , 1 9 7 7 :1 V — 19 78 :1V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t W ith A riz o n a ’s e c o n om y e x p a n d in g a t a fa ste r ra te th a n th e N a tio n ’s, S ta te u n e m p lo y m e n t in su ra n c e bene fits w ere 37.2 p e rc e n t lo w e r in 1978:1V th a n in 1977:IV, c o m p a re d w ith a 3 0.3-percen t d ec line n a tio n a l ly. Ch a r t 2 — Co n s u m e r Pr i c e I n d e x , Pe r c e n t C h a n t e , 1 9 7 7 :1 V — 19 78 :1V P ercen t To t a l Pe r s o n a l M in in g In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch ar t 3 .— Tot al Personal Inc om e Ch ar t 4 .— In dust r i al Com p osi ti on of Wages and Sal ari es: Ar i zon a [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ar i zo n a Th r o u t h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Ar i zo n a U .S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:1 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M ill io ns o f do l la rs , seasonally ad ju s te d a t an nu al rate s1 To t a l p e r s o n a l I n c o m e ........................... Fa r m p e r s o n a l I n c o m e ................................................ No n f a r m p e r s o n a l I n c o m e ...................................... To t a l p e r s o n a l i n c o m e ........................... Wag e a n d s a l a r y d i s b u r s e m e n t s ........................ 1.5 8 3 .5 0 8 1,78 2 ,5 19 15 ,0 78 15 ,6 8 0 1 7 .7 3 1 18 .4 2 0 12 .4 17 .6 12 .6 17 .5 3 1,2 2 4 3 9 ,4 5 1 28 4 30 2 43 3 446 4 7.9 5 2 .4 2 6 .3 4 7 .7 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 14 ,79 4 15 ,3 78 17,2 9 8 17 ,9 7 4 11.9 16 .9 12 .3 16 .9 1,78 2 ,5 19 15 ,0 78 15 ,6 8 0 1 7 .7 3 1 18 .4 2 0 12 .4 17 .6 12 .6 17.5 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,4 3 7 9 ,8 8 6 11,2 3 2 11 ,7 2 4 9 6 ,0 16 12.1 19 .0 1 1 1 ,7 1 9 12.6 8 35 18 .6 884 1,0 4 2 1,0 8 3 10 5 ,9 5 3 17.0 2 4 .7 12 5 ,9 9 5 16 .4 74 8 2 2 .5 776 9 76 Pr o p r i e t o r s ' i n c o m e ...................................................... 1,0 17 2 1.5 2 3 ,6 3 6 3 0 .6 3 1,0 4 4 18 .9 15 9 3 1.0 171 29 6 30 2 8 2 ,3 17 6 6 .6 8 5 .8 9 4 ,9 5 1 3 1.3 589 76 .6 605 681 714 2 14 ,9 9 2 12.8 15 .6 2 4 2 ,4 4 2 15 .3 2 ,4 2 7 18 .0 2 ,4 9 4 2 ,7 7 1 2,866 2 15 ,9 4 4 12 .3 14 .2 2 3 3 ,75 0 2,211 12.8 14 .9 2 ,2 4 2 2 ,4 2 9 2 ,4 72 11,12 8 8.8 9 .9 7,75 3 59 8 .2 10 .3 48 6 2 ,2 12 71,6 10 553 -4 0 1 -4 73 -2 7 -2 9 -3 5 -3 7 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,4 3 7 9 ,8 8 6 11,2 3 2 7 ,17 6 7,9 3 9 12 2 12 7 13 4 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 9 ,3 16 9 ,75 8 11,0 9 8 14 ,0 4 8 18 ,8 13 352 328 396 Fa r m ................................................................................... N o n f a r m .......................................................................... Di v i d e n d s , I n t e r e s t , a n d r e n t ................................. Tr a n s f e r p a y m e n t s ........................................................ St a t e u n e m p l o y m e n t I n s u r a n c e b e n e f i t s . Le s s : p e r s o n a l c o n t r i b u t i o n s ................................. Pl u s : r e s i d e n c e a d j u s t m e n t ..................................... Fa r m ............................................................................................................................ N o n f a r m .................................................................................................................. 19 78 :1V Pe r c e n t c h a n g e 2 1.5 8 3 .5 0 8 Ot h e r l a b o r I n c o m e ...................................................... W ag e a n d s a l a r y d i s b u r s e m e n t s .................................................................. St a t e 1 9 7 7 :1 V - M i n i n g .................................................................................................................. C o n s t r u c t i o n ................................................................................................... M a n u f a c t u r i n g ............................................................................................... Du r a b l e g o o d s ......................................................................................... No n d u r a b l e g o o d s ............................................................................... Pr i v a t e s e r v i c e - t y p e ................................................................................. Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s W h o l e s a l e a n d r e t a i l t r a d e ............................................................ Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ....................................... Se r v i c e s ......................................................................................................... Go v e r n m e n t ..................................................................................................... Fe d e r a l ........................................................................................................... St a t e a n d l o c a l ....................................................................................... O t h e r ................................................................................................................. 5 74 33 30 - 2 4 .0 - 4 4 .0 - 3 0 .3 - 3 7 .2 684 70 5 14 .8 2 3 .5 15 .1 2 3 .0 1 1,7 2 4 12 .1 19 .0 12 .6 18 .6 14 0 8 .5 9 .8 10 .6 9 .8 11,5 8 5 12 .1 19 .1 12 .6 18 .7 40 9 2 6 .5 5 5 ,6 4 8 12 .3 6 6 ,8 5 8 3 3 .9 777 2 4 .6 857 1,14 9 1,2 4 3 2 7 6 ,112 19 .1 3 12 ,9 70 4 7.8 2 0 .1 1,5 2 8 4 5 .0 1,6 16 1,8 4 8 1,8 9 4 12 .1 176 ,2 16 2 1.0 2 0 3 ,0 5 3 13 .3 1,2 16 1 7 .2 1,3 0 1 1,4 8 8 1,5 3 0 13 .7 9 9 ,8 9 6 2 2 .4 10 9 ,9 17 15 .2 3 13 17.6 3 15 361 36 4 4 5 5 ,76 4 9 .4 15 .5 5 15 ,3 4 8 10 .0 4 ,18 4 15 .6 4 ,3 74 5 ,0 0 2 5 ,2 15 12 .8 76 ,5 8 4 19 .5 8 5 ,2 6 4 13 .1 637 19 .2 692 76 0 79 1 10 .4 170 ,8 8 8 19 .4 19 5 ,0 3 5 11.3 1,6 2 2 14 .2 1,6 8 5 1,9 6 1 2 ,0 5 0 5 4 ,4 5 2 13 .6 2 0 .9 6 1,6 5 3 14 .1 5 02 2 1.6 534 6 24 646 14 .1 15 3 ,8 4 0 2 4 .1 173 ,3 9 6 13 .2 1,4 2 3 2 0 .9 1,4 6 2 1,6 5 7 1,72 8 2 0 1,2 5 2 12 .6 2 15 ,0 8 3 16 .5 12 .7 2 ,4 3 2 18 .2 2 ,5 4 0 2 ,6 5 3 2 ,7 7 4 7.4 6 8 ,176 9 .1 73 ,0 0 3 6 .9 8 43 9 .2 885 9 45 993 7.3 13 3 ,0 76 12 .1 14 2 ,0 8 0 7 .1 1,5 8 8 12 .2 1,6 5 6 1 ,7 0 7 1,78 1 3 ,2 16 7.5 7.5 3 ,6 8 5 6 .8 42 7.6 44 51 50 18 .7 2 0 .7 14 .6 15 .0 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t Di v i s i o n . 2 . Ba s e d o n u n r o u n d e d d a t a . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Ar i zo n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un t e d St a t e s 19 77:I V Ar i zo n a U.S . St a t e 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V — 2 0 1.8 - 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i ve u r b a n a r eas b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . St a t e 19 7 : 1 V - 19 7 1:111 I n d e x, 19 6 7= 10 0 , n ot seaso n a l l y ad j u s ted 18 5 .3 U .S . 19 77: I I - 19 78 :1V Pe r c e n t c h an g e — — 7.9 . . . 8 .9 — N O T E - U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 26 S TA TE Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S L abor Force la b o r fo rce. W hile in 1977:IV, A riz o n a ’s u n e m p lo y m e n t ra te w as well a b o v e th e n a tio n a l ra te , in 1978:IV, it e q u a le d th e n a tio n a l ra te . F ro m 1977:IV to 1978:IV, A riz o n a ’s civilian labor force inc re a se d 4.8 p e rc e n t, well a b o v e th e N a tio n ’s 3 .1 -p erc en t a dv a nc e (ta b le 4). Total employment in c re a se d from 922,000 to 984,000, a 6 .7-percent adva nce. A riz o n a ’s a d v a n c e w as exceeded in on ly th re e o th e r S ta tes a n d w as a lm o s t 3 p e rc e n ta g e p o in ts a b o v e th e n a tio n a l a v e ra g e adva nce. A c ross th e S ta te , u n e m p lo y m e n t ra te s v a rie d so m e w h a t. A c c o rd in g to p re lim in a ry d a ta fo r D e c em be r 1978, u n e m p lo y m e n t ra te s in th e m a jo r m e tro p o lita n a re a s o f P h oe nix (M a ric o p a C o u n ty ) a n d T uc so n (P im a C o u n ty ) w e re low er, a t 4.5 a n d 4.6 p e rc e n t, respectively, th a n th e p re lim in a ry S ta te ra te o f 5.4 p e rc e n t. T h e u n e m p lo y m e n t ra te o u tsid e o f M a ric o p a a n d P im a C o u n tie s w as 8.8 p erc e n t. W ith e m p lo y m e n t in c re a sin g by 62,000 a n d th e la b o r force increasing by o nly 48,000, th e n u m b e r o f unemployed declined by 14,000. T he unemployment rate d ec line d 1.6 p e rc e n ta g e p oints, to 5.5 p e rc e n t o f th e Ch a r t C h a r t 6 .— U n e m p l o y m e n t Ra t e s , 19 7 7 :1V — 19 78 :1V 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ar i zo n a Pe r c e n t M il li o n s 1 0.0 - - La b o r Fo r c e Em p l o y m e n t 19 77 .I V Un e m p l o y m e n t 19 78 :I V U n i t e d St a t e s T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Ar i zo n a Th r o u g h Fo u r t h 19 78 :1V Qu a r t e r , 19 78 19 77:111 19 77:1V St a t e U.S . Ar i zo n a Un i t e d St a t e s 19 77:1V Ar i zo n a 19 78 :111 St a t e U .S . 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e ’ Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 78 9 821 841 881 4 .3 6 .5 4 .2 M i n i n g ...................................................................................................................................................................................... 78 7 8 99 19 19 20 20 8 .2 3 .6 14 .2 5 .8 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 51 54 65 69 10 .4 2 7.9 11.3 2 8 .9 7 .3 M a n u f a c t u r i n g .................................................................................................................................................................. 19 ,9 8 6 2 0 ,72 2 113 115 12 2 12 5 3 .1 7.9 3 .7 8 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ......................................................................... 4 ,76 1 4 ,9 71 41 42 45 46 3 .8 8 .8 4 .4 8 .8 W h o l e s a l e a n d r e ta i l t r a d e ....................................................................................................................................... 19 ,15 2 2 0 ,0 15 19 2 19 9 20 4 2 14 5 .3 6 .1 4 .5 7.5 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 45 46 48 49 4 .8 5 .7 - 2 .0 6 .6 Se r v i c e s .................................................................................................................................................................................. 15 ,5 3 9 16 ,2 15 15 3 15 7 15 8 16 3 4 .6 3 .5 4 .4 4 .3 Go v e r n m e n t ........................................................................................................................................................................ 15 ,4 3 4 15 ,6 5 6 175 19 0 18 0 19 4 2 .1 2 .6 1.4 2 .5 Ci v i l i a n l a b o r f o r c e 1 ................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 9 73 993 996 1,0 4 1 3 .2 2 .3 3 .1 4 .8 To t a l e m p l o y e d ................................................................................................................................................................ 9 2 ,4 4 2 9 6 ,0 10 893 922 938 984 4 .1 5 .1 3 .9 6 .7 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 80 71 57 57 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 8 .3 7 .1 5 .8 5 .5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 7 8 , t h e s e d a t a ar e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r ea t es a b r e ak in t h e s e r i e s , a n d u s e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r . Bu r e a u o f La b o r St a t i s t i c s . - 9 .8 — - 8 .8 - 2 8 .5 — — - 1 9 .4 — A p r il 1979 27 C h a r t 7 .— Ci v i l i a n La b o r I n d e x, 19 72 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t I n d e x, 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t Fo r c e 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 — I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Ar i zo n a Th o u s a n d s 28 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS C o m m er cia l B a n k in g D u e to c ha n g e s in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In s u ra n c e C o rp o ra tio n , th e c om m erc ia l b an k in g d a ta a rriv ed to o la te fo r th is re p o rt to in clu de th e com m e rcial b a n k in g discu ssion a n d th e co m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Ar i zo n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ar i zo n a Un i t e d St a t e s U.S . St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 78 :111 6 10 ,5 0 2 n .a . 5 ,0 8 1 5 ,4 17 19 78 : IV Pe r c e n t c h a n g e 2 1 M i l l i o n s o f d o l l a r s , n o t se< s o n a l l y a d j u s t e d 1 To t a l l o a n s ....................................................................................................................................................... St a t e 1 9 7 7 :1 V - 19 77:111 — 6 ,10 8 n .a . 16 .3 2 0 .2 — — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,3 3 0 1,4 75 1,4 5 6 n .a . 14 .2 9 .4 — Lo a n s t o i n d i v i d u a l s ...................................................................................................................................................... 14 0 ,5 9 9 n .a . 1,4 8 4 1,5 5 9 1,8 5 6 n .a . 2 0 .2 2 5 .1 — — Re a l e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 1,6 2 0 1,6 7 7 1,9 8 6 n .a . 19 .9 2 2 .6 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,2 19 1,2 5 0 1,4 6 0 n .a . 2 1.3 19 .8 — — Fa r m s ................................................................................................................................................................................... 7 ,7 3 1 n .a . 13 13 9 n .a . 10 .7 - 3 3 .0 — — Ot h e r ................................................................................................................................................................................... 6 8 ,9 6 8 n .a . 388 4 14 5 17 n .a . 19 .0 3 3 .2 — — Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 29 1 29 5 336 n .a . 6 .8 15 .5 — — 6 9 ,9 4 7 n .a . 356 4 11 4 74 n .a . 8 .0 3 3 .3 — — 16 .1 — — — — To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 7,0 9 0 7,6 0 1 8 ,2 2 8 n .a . 11.5 D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 2 ,5 6 6 2 ,9 8 1 3 ,0 8 3 n .a . 10 .2 2 0 .2 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . ‘ 4 ,5 2 4 4 ,6 2 0 5 ,14 5 n .a . 12 .3 13 .7 — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 29 C o n str u c tio n T h e to ta l v a lu a tio n o f c o n tra c ts in A riz o n a ro se 52.0 p e rc e n t from 1977:1V to 1978:IV (to $892 m illion), fa r exceeding th e N a tio n ’s 16.8p e rc e n t a ve rag e g ain a n d ra n k in g fo u rth a m o n g all S ta te g a ins (ta b le 6). in th e N a tio n w as v irtu a lly u n c h a n g e d a t a high level. T h e v a lu a tio n o f c o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o u se k e e p in g units rose 29.8 p e rce nt, tw ice th e n a tio n a l ave rag e , to $103 m illion. C o n tin u in g stro n g a d v a n ce s in th e M a r ic o p a C o u n ty (P h o en ix ) re side n tia l h o u sek e ep in g m a rk e t w e re m a in ly re sp on sible fo r th e S ta te ’s y e a r-to -y e a r g ain in th e to ta l v a lu a tio n o f c o n tra c ts . S tatew ide, th e v a lu a tio n o f re sid en tial h ou se k e e p in g c o n tra c ts in c re ased $162 m illion , a 5 5.5-percen t g ain th a t o u tp a c e d th e 15 .6-percent n a tio n a l ave rag e a n d w a s exceeded by g ain s in o n ly th re e o th e r S ta tes. O n e -fam ily h o u sin g u n its in M a r ic o p a C o u n ty a c c o u n te d fo r well ov er 60 p e rc e n t o f th e to ta l v a lu a tio n o f re side n tia l h ou sek e e p in g c o n tra c ts in A riz o n a in 1978:1V. T h e n u m b e r o f dw elling u n its s ta rte d rose 28.0 p e rc e n t, o r a lm o s t 2,000 u n its, to 13,442. In c o n tra s t, th e n u m b e r o f dw elling u n its T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts m o re th a n d o u b le d , to $151 m il lion in 1978:IV. T h e ga in w as o n e o f th e large st in th e N a tio n a n d fa r o u tp a c e d th e N a tio n ’s ave rage o f 22.2 p e rc e n t. A riz o n a ’s la rg e g a in w as p a rtly d u e to a 5 0 -pe rc en t gain (to $54 m illio n) in th e v a lu a tio n o f stree t a n d highw ay c o n tra c ts versus a 16.3-perc ent dec line n atio n ally . Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ar i zo n a B illio n $ ind e x , 1 9 7 6 = 1 0 0 Ch a r t P e rce n t N o n re sid e n tia l c o n tra c ts rose 18.0 p e rc e n t in v a lu a tio n from y e a r to yea r, th e sm allest g a in a m o n g A riz o n a ’s m a jo r c o n s tru c tio n m a rk e ts , to $173 m illion. T h e ga in m arg in a lly o u tp a c e d th e N a tio n ’s 15.8-p erc en t gain. 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V - 1 9 7 8 :1 V T A B LE 6 — Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ar i zo n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s 19 7 7:I V 19 78 :1V U.S . Ar i zo n a 19 77:111 19 77:1V 19 78 :111 St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. U .S . 19 77:111— Pe r c e n t c h a n g e ’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 7 1 7 ,1 8 1 5 8 6 ,6 4 4 8 4 1,3 16 8 9 1,8 8 0 14 .5 1 7 .3 16 .8 5 2 .0 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 8 1,0 2 9 79 ,3 14 110 ,8 3 9 10 2 ,9 6 8 16 .8 3 6 .8 14 .6 2 9 .8 2 6 .3 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 6 2 ,78 9 5 6 ,9 2 8 9 24 8 22 1,0 0 1 1,0 3 8 4 .4 8 .3 - 9 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 6 3 6 ,15 2 5 0 7,3 3 0 73 0 ,4 77 78 8 ,9 12 14 .0 14 .8 1 7 .4 5 5 .5 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 19 ,2 3 3 15 ,6 8 5 2 3 ,4 74 2 1,2 2 9 10 .8 2 2 .1 10 .2 3 5 .3 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 14 5 12 5 13 5 12 8 - 5 .1 - 6 .9 - 4 .3 2 .4 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 12 ,6 14 10 ,4 9 8 15 ,179 13 ,4 4 2 1.0 2 0 .3 - .6 2 8 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 3 70 ,8 6 0 2 9 2 ,79 2 4 4 8 ,0 9 8 4 5 5 ,174 15 .3 2 0 .8 15 .6 5 5 .5 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 13 ,4 0 8 10 ,8 9 4 16 ,4 3 8 16 ,2 6 2 10 .3 2 2 .6 10 .7 4 9 .3 - 1 0 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 507 505 7 10 7 10 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 3 ,78 9 1,6 5 8 8 ,4 6 4 9 ,9 6 4 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 13 1 49 174 15 9 - .7 Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 5 21 48 9 555 6 48 - 2 .5 - 1 2 .0 3 2 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 178 ,6 3 2 14 6 ,19 7 178 ,4 4 9 172 ,5 4 2 2 7.6 - .1 15 .8 18 .0 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 5 ,6 9 5 4 ,74 2 6 ,8 6 2 4 ,8 0 8 12 .2 2 0 .5 8 .9 1.4 Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 25 1 19 8 304 25 2 2 2 .4 2 1.1 - 9 .1 2 7.3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 8 2 ,8 71 6 6 ,6 8 3 9 5 ,4 6 6 15 1,2 3 2 - .1 15 .2 2 2 .2 12 6 .8 .0 9 .4 - .4 .0 12 3 .4 4 4 .8 5 0 1.0 3 3 .1 2 4 .7 2 2 5 .0 No n r e s i d e n t i a l : 6 .5 No n b u i l d i n g : St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 4 ,9 8 6 4 ,0 9 9 93 57 112 82 9 .3 2 0 .4 - 1 7 .8 4 3 .9 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 3 8 ,2 15 3 6 ,0 4 7 5 8 ,0 14 5 4 ,13 3 3 .0 5 1.8 - 1 6 .3 5 0 .2 St a t e U .S . 1 . Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a ys . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an g es f o r f l o o r ar ea b a s e d o n u n r o u n d e d d at a N O T E.— De t a i l f o r f l o o r ar ea d a ta m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . R e ta il S a le s R eta il sales d a ta fo r A riz o n a a re n o t availa ble. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Ar i zo n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s U .S . Ar i zo n a 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M ill io ns o f do ll ars , not seasonally adjus ted St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 — 1 1 .2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 — 15 ;3 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ar i zo n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Ar i zo n a U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 : I V 19 77:111 19 7 7:I V 19 78 :111 19 78 :1V Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . 1,7 9 7 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V - Pe r c e n t c h a n g e 1 ,7 1 4 2 ,3 9 4 n .a . 8 .2 3 3 .2 To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 16 15 11 n .a . - 9 .5 - 3 1 .2 Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 2 ,76 9 1,6 9 3 2 ,19 8 n .a . - 4 4 .2 - 2 0 .6 Ave r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 173 113 20 0 n .a . - 3 8 .4 15 .6 — — — — — — . --------— Bu s i n e s s fai l u r es b y i n d u s tr y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 24 8 n .a . 1 1 1 n .a . - 1 0 .1 .0 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 5 3 2 n .a . 1.0 - 6 0 .0 W h o l es al e t r a d e ................................................................................................................................................................. 19 1 n .a . 2 0 2 n .a . - 2 7 .1 Re t a i l t r a d e ........................................................................................................................................................................... 6 88 n .a . 7 7 4 n .a . - 4 .2 - 4 2 .9 Co m m e r c i a l s e r v i c e s ..................................................................................................................................................... 23 8 n .a . 1 4 2 n .a . — 2 4 .0 10 0 .0 .0 — — — — — — — — — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n S B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 31 H ig h lig h ts 1977:IV to 1978:IV Personal income — U p 15.2% vs. 12.6% in U .S ., to $14.2 billion — F a rm p e rso n a l in co m e u p 59.4% vs. 26.3% in U .S. Employment — D o w n 1.7% vs. 3.9% incre ase in U .S ., to 855,000 Unemployment — U p 13,000, to 70,000 — R a te u p to 7.5% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 2.8% vs. 16.8% in U .S ., to $413.7 m illion — V a lu a tio n o f n o n b u ild in g c o n tra c ts d ow n 34.8% vs. 22.2% in cre ase in U .S. — N u m b e r o f d w e lling-unit sta rts d ow n 2.6% vs. n e a r sta b ility in U .S ., to 5,454 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ar k a n s a s Un i t e d St a t e s U .S . 1 St a t e U .S . 19 77:111— 19 77:1V 19 78 : IV 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d 1 St a t e 19 7 7:1V — 19 78 :1V Pe r c e n t c h a n g e To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 12 ,0 3 8 12 ,3 6 9 13 ,8 8 8 14 ,2 4 6 12 .4 15 .4 12 .6 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 6 ,73 9 6 ,9 3 1 7,6 0 6 7,79 9 1 2 .1 12 .9 12 .6 12 .5 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 883 869 883 855 4 .1 - .1 3 .9 - 1 .7 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 55 57 56 70 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 5 .9 6 .2 6 .0 7.5 To t a l l oa ns (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 4 ,7 4 1 4 ,8 8 8 5 ,3 6 3 n .a . - 9 .8 — 1.6 — 16 .3 - 8 .8 — 13 .1 — — — — 9 2 5 ,5 11 n .a . 7,0 13 7 ,4 4 7 7 ,7 7 4 n .a . 11.5 10 .9 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 4 3 6 ,70 7 4 0 2 ,5 71 5 2 5 ,18 7 4 13 ,6 70 14 .5 2 0 .3 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 5 ,70 2 5 ,6 0 1 6 ,5 0 7 5 ,4 5 4 1.0 1 4 .1 - .6 To t a l r e ta i l sal es ( m i l l i o n s o f d o l l a r s ) ......................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 860 n .a . Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 10 9 ,4 11 n .a . 1,6 8 4 n .a . 18 5 .3 2 0 1.8 965 9 12 12 12 12 n .a . 8 .2 — 1 1.2 - 1 0 .9 - 9 .5 2 2 .0 — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ........................................................................................................ 15 .2 .0 2 .8 - 2 .6 — — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a v a i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . — — — — 7.9 — 8 .9 — 32 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju ste d a t a n n u a l ra te s) in c re a se d 15.2 p e rc e n t from 1977:IV to 1978:1 V, c o m p a re d w ith a 12.6-percent n a tio n a l in cre a se (ta b le 2). In 1978:IV, th e S ta te ’s p e rso n a l in co m e to ta le d $14.2 b illio n , up $1.9 b illio n since 1977:1V. A rk a n s a s ’ in c re a se in p e rso n a l in co m e , th e large st in th e S o u th e a st re gion , w ou ld h av e b ee n c o n s id e ra b ly sm aller h a d it n o t been fo r a 59.4p e rc e n t in cre ase in farm p e rso n a l in co m e , c o m p a re d w ith a 2 6.3 -p erc en t n a tio n a l g a in . T h e S ta te ’s n o n fa rm p e rs o n a l in c o m e in c re a se d 12.2 p e rc e n t from y e a r to ye a r, a lm o s t th e sam e a s n a tio n a lly . In c o n tra st, since th e la st n a tio n a l bu sin ess cycle p e a k in 1973:IV, A rk a n s a s ’ n o n fa rm e c o n o m y h as g ro w n m o re ra p id ly th a n th e N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in c o m e w a s 17 p e rc e n t m o re th a n n a tio n a lly , ra n k in g A rk a n s a s 16th a m o n g all S tates. Ch a r t W age and salary disbursements (pa y ro lls) in th e S ta te in c re ased 12.5 p e rc e n t fro m 1977:IV to 1978:IV, a fr a c tio n less th a n n a tio n a lly . In 1978:1 V, th e y to ta le d $7.8 b illio n, up $868 m illion since 1977:1V. D u ra b le g o o d s m a n u fa c tu rin g p a y ro lls in c re a se d 14.1 p e rc e n t in th e S ta te v ersus 15.2 p e rc e n t n a tio n a lly , a n d n o n d u ra b le s m a n u fa c tu rin g p a y ro lls in c re a se d 11.7 p e rc e n t v ersu s 10.0 p erc e n t. W ithin A rk a n s a s ’ p riv a te service-type in d u s try g ro u p , p ay rolls in c re ased m o re slow ly th a n n a tio n a lly o n ly in fin a nc e -in su ra n ce -re a l e s ta te — 11.4 p e rc e n t versus 13.2 p e rc e n t. P a y ro lls in tra n s p o r ta tio n c o m m u n ic a tio n -p u b lic u tilitie s inc re a se d 12.6 p e rc e n t in th e S ta te versus 11.3 p e rc e n t n a tio n a lly , a n d tra d e p a y ro lls inc re a se d 17.5 p erc e n t versus 14.1 p e rc e n t n a tio n a lly . Services p a y ro lls in c re ased 14.4 p e rc e n t in the S ta te a n d 12.7 p e rc e n t n atio n a lly . P ay rolls in c o n stru c tio n in c re ased o n ly 9.1 p e rc e n t in A rk a n sa s , less th a n o n e - h a lf o f th e n a tio n a l g ain . T h e S ta te ’s in cre ase ra n k e d 4 8 th in th e N a tio n . F e d e ra l G o v e rn m e n t p a y ro lls in c re ased 8.2 p e rc e n t from ye a r to y e a r versus 7.1 p e rc e n t n a tio n a lly , a n d S ta te a n d local g o v e rn m e n t p a y ro lls in c re ased 6.7 p e rc e n t, a fra c tio n less th a n n a tio n a l I . — Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t lyF ro m 1977:IV to 1978:IV, S ta te u n e m p lo y m e n t in su ra n c e benefits dec lin ed 13.9 p e rc e n t, th e sixth sm allest dec line in th e N a tio n . S ta te u n e m p lo y m e n t in su ra n c e b en efits th ro u g h o u t th e N a tio n dec line d 30.3 p ercent. Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V Pe r c e n t To t a l Pe r s o n a l No n f a r m M an u fac tu r in g Pr i v a t e In c om e Pe r s o n a l I n c o m e W a g e s a n d Sa l a r i e s S e r v i c e -t y p e W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l In c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Ar k a n s a s [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 Bil l io n $ T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 St a t e U .S . Ar k a n s a s U.S . St a t e 19 77:111 — 1 9 7 7 :1 V - 19 78 :111 19 78 : IV 19 78 :1V M i l l i o n s o f d o l l a r s , s e a s o n al l y a d j u s t e d a t a n n u a l r a t e s ' Pe r c e n t c h a n g e 1 2 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 12 ,0 3 8 12 ,3 6 9 13 ,8 8 8 14 ,2 4 6 12 .4 15 .4 12 .6 15 .2 Fa r m p e r so n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 775 78 5 1,2 2 7 1,2 5 2 4 7.9 5 8 .3 2 6 .3 5 9 .4 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 11,2 6 2 11,5 8 4 12 ,6 6 1 12 ,9 9 4 11.9 12 .4 12 .3 12 .2 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 12 ,0 3 8 12 ,3 6 9 13 ,8 8 8 14 ,2 4 6 12 .4 15 .4 12 .6 15 .2 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 6 ,73 9 6 ,9 3 1 7,6 0 6 7,79 9 12 .1 12 .9 12 .6 12 .5 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 696 72 5 8 18 8 39 17.0 17.6 16 .4 15 .8 Pr o p r i e t o r s i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 1,4 6 5 1,4 8 6 2 ,0 0 8 2 ,0 5 8 2 1.5 3 7.0 18 .9 Fa r m .................................................................................................................................................................................... 3 8 .5 2 3 ,6 3 6 6 7.3 3 1,0 4 4 6 77 6 83 1,12 2 1,14 3 6 6 .6 6 5 .6 3 1.3 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 78 8 802 886 9 15 12 .8 12 .4 15 .3 14 .1 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 1,5 4 9 1,5 8 4 1,72 3 1,77- 1 12 .3 11.3 12 .8 11.8 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 2 ,0 5 1 2 ,1 11 2 ,2 6 4 2 ,3 15 8 .8 10 .4 8 .2 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 55 78 55 67 - 2 4 .0 .1 - 3 0 .3 Le s s: p e r so n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 4 70 4 78 5 42 5 49 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 8 10 10 12 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 6 ,73 9 6 ,9 3 1 7,6 0 6 7,79 9 12 .1 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 96 10 0 10 3 10 6 8 .5 N o n f a r m .......................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 6 ,6 4 3 6 ,8 3 1 7,5 0 3 7,6 9 3 12 .1 M i n i n g .......................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 67 65 14 .8 — 15 .3 9 .7 - 1 3 .9 15 .1 14 .8 12 .9 12 .6 12 .5 7.3 10 .6 6 .4 12 .9 12 .6 12 .6 2 3 .9 — 80 81 2 6 .5 18 .3 3 3 .9 Co n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 4 15 4 19 46 6 45 7 19 .1 12 .2 2 0 .1 9 .1 M a n u f a c t u r i n g ....................................................................................................................................................... 2 76 ,112 3 12 ,9 70 2 ,0 6 4 2 ,12 4 2 ,3 4 5 2 ,4 0 1 12 .1 13 .6 13 .3 Du r a b l e g o o d s ................................................................................................................................................. 13 .0 176 ,2 16 2 0 3 ,0 5 3 1,12 4 1,18 0 1,2 8 5 1,3 4 7 13 .7 14 .3 15 .2 14 .1 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 9 40 944 1,0 6 0 1,0 5 4 9 .4 12 .8 10 .0 1 1 .7 Pr i v a t e s e r v i c e - t y p e ......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 2 ,8 19 2 ,8 9 3 3 ,2 2 4 3 ,3 2 6 12 .8 14 .3 13 .1 15 .0 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 5 36 551 606 620 10 .4 13 .1 11.3 12 .6 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 1,16 9 1,18 8 1,3 5 2 1,3 9 5 13 .6 15 .6 14 .1 17.5 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 29 1 302 326 336 14 .1 12 .0 13 .2 1 1.4 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 8 23 852 9 40 9 75 12 .6 14 .1 12 .7 14 .4 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 1,2 5 1 1,3 0 3 1,3 5 8 1,3 9 7 7.4 8 .6 6 .9 7.2 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 4 19 434 451 4 70 7.3 7.4 7 .1 8 .2 St a t e a n d l o c a l ............................................................................................................................................... 13 3 ,0 76 14 2 ,0 8 0 8 32 869 908 9 27 7.5 9 .1 6 .8 6 .7 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 26 27 31 30 18 .7 16 .9 14 .6 10 .9 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Bas e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s U .S . Ar k a n s a s St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 18 5 .3 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e as b a s e d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f l a b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 2 0 1.8 — — St a t e 19 7 7:1V — 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a v e r a g e -'....................................................................................................................................... U .S . 19 78 :1V Pe r c e n t c h a n g e — — 7.9 — 8 .9 — N O T E.— Un r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xe r c i se c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 34 S T A T E Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS L abor Force F ro m 1977:IV to 1978:IV , A rk a n s a s ’ civilian labor force d ec lin ed 0.2 p e rc e n t versus a 3 .1-p e rc e nt U .S . in cre ase (ta b le 4). Total employment dec line d 1.7 p e rc e n t v ersus a 3 .9-pe rc e nt U .S . in crease, to 855,000. W ith e m p lo y m e n t dec lining by a b o u t 14,000 a n d th e la b o r force dec lining by a b o u t 2,000, th e n u m b e r o f unemployed in c re a se d betw een 12,000 a n d 13,000, to 70,000. A rk a n s a s ’ unemployment rate inc re a se d 1.3 p e rc e n ta g e p o in ts, to 7.5 p e rc e n t o f th e la b o r force— th e fo u rth h ig h est ra te in th e N a tio n , a fte r th e 11.0-percent ra te re g iste re d in A la s k a a n d th e 7 .8-p e rc e nt ra te re gistere d in b o th H a w a ii a n d th e Ch a r t D is tric t o f C o lu m b ia . T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:IV w as 5.5 p erc e n t, d o w n 0.7 p e rc e n ta g e p o in t fro m th e 1977:IV level. A m o n g A r k a n s a s ’ m a jo r m e tr o p o lita n a r e a s , p re lim in a ry u n e m p lo y m e n t ra te s fo r D e c e m b e r 1978, w he n th e S ta te ’s ra te w as 7.8 p erc e n t, ra n g e d from 10.7 p e rc e n t in F o r t S m ith to 5.8 p erc e n t in F a y e tte v ille -S p rin g d a le a n d 5.9 p erc e n t in L ittle R o c k -N o rth L ittle R o ck . F ro m D e c e m b e r 1977 to D e c e m b e r 1978, th e u n e m p lo y m e n t ra te in cre a se d 4.1 p e rc e n ta g e p o in ts in F o r t S m ith, c o m p a re d w ith an in crease o f 1.2 p e rc e n ta g e p o in ts statew ide ; F o r t S m ith ’s in cre a se w as th e la rge st a m o n g th e S ta te ’s m a jo r m e tro p o lita n a rea s. 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ar k a n s a s Ch a r t Th o u s a n d s 6 .— U n e m p l o y m e n t Ra t e s , 1 9 7 7 :I V - 1 9 7 8 : I V Pe r c e n t La b o r Fo r c e Em p l o y m e n t 19 77:1V Un e m p l o y m e n t . 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s U .S . Ar k a n s a s St a t e 19 77:I V 19 78 : IV 19 77:111 19 77:I V 19 78 :111 19 78 :1V St a t e U .S . 19 7 7:1V — 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 1 2 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 70 2 711 73 0 73 2 4 .3 4 .0 4 .2 2 .9 M i n i n g ...................................................................................................................................................................................... 78 7 899 5 5 5 5 8 .2 13 .0 14 .2 8 .7 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 40 39 42 40 10 .4 7 .1 11.3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 2 14 2 14 2 18 2 15 3 .1 2 .0 3 .7 .5 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 39 39 41 42 3 .8 5 .7 4 .4 9 .1 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 15 2 15 4 16 1 16 2 5 .3 5 .9 4 .5 5 .0 3 .9 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 30 30 31 31 4 .8 3 .7 - 2 .0 2 .7 Se r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 99 98 10 3 10 2 4 .6 3 .8 4 .4 3 .8 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 12 4 13 3 12 9 13 5 2 .1 3 .6 1.4 Ci vi l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 9 39 9 26 939 9 24 3 .2 .0 3 .1 - .2 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 883 869 883 855 - .1 3 .9 - 1 .7 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 55 57 56 70 1.6 - 8 .8 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 5 .9 6 .2 6 .0 7.5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b ei n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e ak i n t h e s e r i e s , a n d u se r s a r e a d vi s e d t o e xer c i s e c a u t i o n w he n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 4 .1 - 9 .8 — — — 1.6 2 2 .0 — A p r il 1979 35 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e In d e x, 1 9 7 2 - 1 0 0 8 .— Ci v i l i a n Em p l o y m e n t I n d e x , 1 9 7 2 = 10 0 Ch a r t Per cent Ch a r t 9 .— U m e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Ar k a n s a s Thousands 36 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S C o m m er cia l B a n k in g D u e to c ha n ge s in the d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , the c o m m erc ia l b a n k in g d a ta a rriv e d to o late fo r this re p o r t to in clu de th e c o m m erc ia l b a n k in g d isc ussio n a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Ar k a n s a s Th r g u ^ | j _ Fo i n i h _ f l h y ^ r t g r 1_ ^ 9 7g ^ Un i t e d St a t e s U .S . Ar k a n s a s St a t e U .S . 19 77:1 V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 6 10 ,5 0 2 n .a . 4 ,7 4 1 4 ,8 « 19 78 :1V 19 78 :111 Pe r c e n t c h an g e1 2 M il lio ns of do ll ar s , n o t seasonally ad ju s te d 1 To t a l l o a n s ....................................................................................................................................................... St a t e 1 9 7 7 :1 V - 19 77:111 — 5 ,3 6 3 n .a . 16 .3 13 .1 — — — Co m m e r c i a l an d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,13 9 1,2 18 1,2 5 9 n .a . 14 .2 10 .5 — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 1,3 19 1,3 6 2 1,4 4 4 n .a . 2 0 .2 9 .5 — — Rea l e s t a t e ............................................................................................................................................................................ 177,9 3 5 n .a . 1,6 2 0 1,72 0 1,9 5 7 n .a . 19 .9 2 0 .8 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 693 76 8 9 19 n .a . 2 1.3 3 2 .5 — — Fa r m s .................................................................................................................................................................................. 7 ,73 1 n .a . 28 4 28 5 303 n .a . 10 .7 6 .4 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 6 43 668 73 5 n .a . 19 .0 14 .4 — — Fa r m s , e xc l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 444 3 73 4 78 n .a . 6 .8 7.8 — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 220 2 15 226 n .a . 8 .0 3 .0 — — — To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 7 ,0 13 7 ,4 4 7 7 ,7 7 4 n .a . 11.5 10 .9 — D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 2 ,6 6 4 2 ,9 2 6 2 ,8 6 2 n .a . 10 .2 7.4 — — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 4 .3 4 9 4 ,5 2 1 4 ,9 12 n .a . 12 .3 13 .0 — ---- 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Bas e d on un ro un ded data. So u r c e : U.S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . . A p r il 1979 37 C o n str u c tio n F ro m 1977:IV to 1978:1V, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts in c re a se d o nly 2.8 p erc e n t ($11.1 m illion), to $413.7 m illion (ta b le 6). T h e n a tio n a l in cre a se w a s 16.8 p e rc e n t. N a tio n a l c o n s tru c tio n co sts in cre a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e sp a n , a n d if th is in cre ase is re p re se n ta tiv e o f th e in cre a se th ro u g h o u t th e S ta te , th e to ta l v a lu a tio n o f c o n tra c ts in A rk a n s a s su sta in e d a real dec line o f a b o u t 10 p e rc e n t versus a real in cre a se o f a b o u t 4 p e rc e n t n atio n a lly . R e side ntial h ou sek e ep ing c o n tra c ts increased 13.8 p erc e n t in v a lu a tio n , com pared with a national increase o f 15.6 percent. T h e num ber o f dwell ing u nits sta rte d declined 2.6 p e rc e n t '147), to 5,454. N a tio n a lly , th e n u m b e r o f dw elling u n its s ta rte d re m a in e d a lm o s t u n c h a n g e d a t a h ig h level. A d d itio n s a n d a lte ra tio n s to re sid e n tia l h o use k e e p in g u n its, u nlik e Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n new c o n stru c tio n , inc re a se d m o re th a n o n e - th ird in v a lu a tio n , w ell o ve r tw ice th e n a tio n a l incre ase. A rk a n s a s ’ 34.3 -p erc en t in cre a se ra n k e d th ird in the N a tio n , a fte r N e v a d a ’s a n d M ississip p i’s. T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts dec line d 34.8 p e rc e n t in th e S ta te versus a 22.2 -p erc en t in cre a se n a tio n a lly . A rk a n s a s ’ d ec lin e w as o n e o f th e large st in th e N a tio n . S tre e t a n d h ighw a y c o n tra c ts , a c o m p o n e n t o f n o n b u ild in g , dec lin ed 73.3 p e rc e n t in v a lu a tio n , c o m p a re d w ith a n a tio n a l d ec line o f 16.3 p e rce nt. N o n re sid e n tia l c o n tra c ts dec line d 14.1 p e rc e n t in v a lu a tio n , o n e o f th e large st declines in th e N a tio n . N a tio n a lly , n o n re s id e n tia l c o n tra c ts inc re a se d 15.8 p e rc e n t in v a lu a tio n . Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ar k a n s a s M il li on S I n d e x , 19 7 6 = 10 0 Ch a r t Pe r c e n t 1 6 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V T A B LE 6 — Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 ’ Ar k a n s a s Un i t e d St a t e s U .S . St a t g 19 7 7:I V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :1V To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. 19 7 7:1V — 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e U .S . 19 77:111— 19 78 :1V Pe r c e n t c h a n g e ’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 4 3 6 ,70 7 4 0 2 ,5 71 5 2 5 ,18 7 4 13 ,6 70 14 .5 2 0 .3 16 .8 2 .8 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 8 5 ,115 6 6 ,8 6 1 9 7,5 9 3 8 9 ,78 5 16 .8 14 .7 14 .6 3 4 .3 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ........................................................................................................... Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 6 2 ,78 9 5 6 ,9 2 8 803 73 8 859 633 4 .4 7.0 - 9 .3 - 1 4 .2 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 3 5 1,5 9 2 3 3 5 ,710 4 2 7,5 9 4 3 2 3 ,8 8 5 14 .0 2 1.6 1 7 .4 - 3 .5 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 11,10 8 10 ,5 5 1 12 ,8 4 4 10 ,8 3 9 10 .8 15 .6 10 .2 2 .7 Re s i d e n t i a l h o u s e k e e p i n g : - 8 .6 Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 29 2 29 9 26 7 26 0 - 5 .1 - 4 .3 - 1 3 .0 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 5 ,70 2 5 ,6 0 1 6 ,5 0 7 5 ,4 5 4 1.0 14 .1 - .6 - 2 .6 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 19 1,3 9 6 18 2 ,4 0 0 2 4 1,9 0 7 2 0 7,5 8 5 15 .3 2 6 .4 15 .6 13 .8 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 8 ,0 12 7,4 9 7 9 ,772 8 ,2 5 8 10 .3 2 2 .0 10 .7 10 .1 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 9 7 2 5 - 10 .0 - 7 7 .8 - .4 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 3 ,4 9 7 3 ,5 5 7 13 3 2 ,0 78 9 .4 - 9 6 .2 4 4 .8 - 2 8 .6 - 4 1 .6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 61 12 7 7 61 - .7 - 8 9 .4 2 4 .7 - 5 1 .9 - 6 .8 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 24 9 26 3 23 2 18 1 - 2 .5 - 1 2 .0 - 3 1 .2 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 75 ,8 3 7 8 0 ,4 0 4 9 1,3 3 1 6 9 ,0 4 1 2 7.6 2 0 .4 15 .8 - 1 4 .1 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 3 ,0 3 5 2 ,9 2 7 3 ,0 6 6 2 ,5 2 1 12 .2 1.0 8 .9 - 1 3 .9 2 2 .4 4 1.5 - 9 .1 - .1 16 .5 2 2 .2 9 .3 - 1 0 .4 - 1 7 .8 - 4 4 .0 3 .0 - 2 5 .2 - 1 6 .3 - 7 3 .3 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 25 3 16 9 358 18 7 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 8 0 ,8 6 2 6 9 ,3 4 9 9 4 ,2 2 3 4 5 ,18 1 10 .7 - 3 4 .8 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 15 4 84 13 8 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 4 6 ,12 8 4 1,3 0 9 3 4 ,5 13 47 11,0 16 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h a n g e s f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r a r ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . R e ta il S a le s R e ta il sales d a ta fo r A rk a n s a s a re n o t a va ilab le . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ar k a n s a s Un i t e d St a t e s U .S . St a t e U .S . 19 77:111 — 19 77:I V 19 78 : I V 19 77:111 19 77:1V 19 78 :111 19 78 :I V 19 78 :111 M il lio ns of dol lar s, not seasonally adjus ted St a t e 19 7 7:1V — 19 78 :1V Pe r c e n t c h an g e Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .i . n .a . n .a. 10 .3 — 1 1 .2 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 — 15 .3 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 9 .2 — n .a .: Da t a n o t a va i l a b l e . — — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ar k a n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ar k a n s a s Un i t e d St a t e s U .S . St a t e U.S . 19 77:111— 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e 19 7 7:1V — 19 78 :1V Pe r c e n t c h a n g e Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ 10 9 ,4 11 n .a . 965 9 12 860 n .i . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 12 12 12 n .a . Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 1,6 0 6 1,0 6 5 1,19 8 n .a . Ave r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 13 4 89 10 0 n .a . M i n i n g a n d m a n u f a c t u r i n g ..................................................................................................................................... 24 8 n .a . 1 1 2 n .a . - 1 0 .1 10 0 .0 C o n s t r u c t i o n ...................................................................................................................................................................... 3 19 n .a . 2 2 3 n .a . 1.0 5 0 .0 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 2 1 0 n .a . - 2 7 .1 8 .2 - 1 0 .9 — — .0 — — - 4 4 .2 - 2 5 .4 — — — 3 8 .4 - 2 5 .4 — — — — - 9 .5 Bu s i n e s s f a i l u r e s b y i n d u s t r y Ret a i l t r a d e .......................................................................................................................................................................... 6 88 n .a . 7 6 5 n .a . - 4 .2 Co m m e r c i a l s e r v i c e s ..................................................................................................................................................... 23 8 n .a . 0 2 2 n .a . - 2 4 .0 — - 2 8 .6 — — — — — — — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 39 C A L IF O R N IA H ig h lig h ts 1977 :IV to 1978 :IV Personal income — U p 15.5% vs. 12.6% in U .S ., to $209 billion — N o n fa rm p ro p r ie to r s ’ in c o m e u p 22.0% , la rge st ga in in U .S. — S ta te a n d local g o v e rn m e n t p a y ro lls up 0.6% , sm a llest ga in in U .S. Consumer prices — U p 7.8% in L os A ng e le s-L o ng B each, 11.7% in S an D ieg o, a n d 7.6% in S an F ra n c isc o vs. 8.9% in U .S. Employment — U p 5.0% vs. 3.9% in U .S ., to 10.0 m illion Unemployment — D ow n 112,000, to 649,000 — R a te d ow n 1.3 p e rc e n ta g e p o in ts, to 6.1 % o f la b o r force vs. 5.5% in U .S. Construction — T o ta l v a lu a tio n o f c o n tra c ts up 1.7% vs. 16.8% in U .S ., to $4.4 b il lion — N u m b e r o f dw e lling -u n it sta rts d ow n 20.4% vs. n e a r stab ility in U .S ., to 44,433 Retail sales — U p 11.7% vs. 11.2% in U .S ., to a lm o st $23.5 billion T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ca l i f o r n i a Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 19 7 7:1V — 19 78 :1V Pe r c e n t c h a n g e To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,6 8 3 ,5 0 8 1,78 2 ,5 19 174 ,3 3 5 18 0 ,8 5 5 2 0 1,18 8 2 0 8 ,8 18 12 .4 15 .4 12 .6 15 .5 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 111,3 9 3 115 ,8 8 9 12 7,3 4 7 13 2 ,0 2 5 12 .1 14 .3 12 .6 13 .9 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ....................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 9 ,4 4 4 9 ,5 3 1 9 ,9 16 10 ,0 0 8 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 8 25 76 1 76 4 649 8 .0 7.4 7 .2 6 .1 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .......................................................................... 4 .1 5 .0 - 9 .8 — - 7 .4 3 .9 5 .0 - 8 .8 - 1 4 .7 — — 2 2 .9 — — 15 .4 — — 6 .2 5 .5 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 6 6 ,12 7 70 ,5 10 8 1,2 8 1 n .a . To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 11 n .a . 9 4 ,17 7 10 1,12 5 10 8 ,6 6 8 n .a . 11.5 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 4 ,4 9 0 ,0 9 3 4 ,3 5 9 ,6 6 6 5 ,4 6 2 ,5 4 5 4 ,4 3 3 ,6 4 7 14 .5 2 1 .7 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 6 4 ,0 9 6 5 5 ,8 2 3 5 8 ,2 5 0 4 4 ,4 3 3 1.0 - 9 .1 - .6 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 19 ,4 0 4 2 1,0 13 2 1,3 9 7 2 3 ,4 6 4 10 .3 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 12 ,3 18 12 ,79 5 12 ,4 3 7 n .a . 8 .2 1.0 — — Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 28 4 24 8 29 5 n .a . 3 .9 — — 18 5 .3 2 0 1.8 — 16 .3 - 9 .5 1 .7 - 2 0 .4 1 1.2 1 1 .7 Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... Lo s A n g e l e s - Lo n g B e a c h .............................................................................................................................. — Sa n D i e g o ................................................................................................................................................................... — Sa n Fr a n c i s c o — Oa k l a n d .............................................................................................................................. — n .a .: Da t a n o t a v a i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 1 1 _ _ _ = = = — — — — 7.9 — 8 .9 — 18 0 .9 18 3 .0 19 5 .2 19 7.2 — 7.9 — 7.8 18 4 .1 18 6 .6 2 0 3 .5 2 0 8 .5 — 10 .5 — 1 1 .7 18 4 .0 18 7.3 2 0 4 .0 2 0 1.5 — 10 .9 — 7.6 40 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM EN TS A n a ly s is P e r so n a l In c o m e T ota l personal incom e (se aso na lly a d ju ste d a t a n n u a l ra te s) inc re a se d 15.5 p e rc e n t in C a lifo rn ia from 1977:1 V to 1978:IV (ta b le 2). T h e gain exceeded th e N a tio n ’s by a lm o s t 3 p e rc e n ta g e p o in ts a n d ra n k e d n in th a m o n g all S ta te g ains. In 1978:IV, C a lifo rn ia ’s p e rso n a l in co m e to ta le d $209 b illio n, u p $28 b illio n since 1977:IV. D u rin g th is tim e sp a n , consum er pric e s inc re a se d 7.6 p e rc e n t in th e S an F ra n c is c o -O a k la n d m e tro p o lita n a re a , 7.8 p e rc e n t in L os A n ge le s-L o n g B each, a n d 11.7 p e rc e n t in S an D ieg o (ta b le 3). I f th e a ve rag e o f th e p ric e incre ases in the th re e a re as (9.0 p erc e n t) is used as a n in d ic a to r fo r p rice incre ases th r o u g h o u t th e S ta te , real to ta l p e rso n a l in co m e in C a lifo rn ia inc re a se d 6.5 p e rc e n t from y e a r to y e a r versus 3.7 p e rc e n t n a tio n a lly . Since th e la st n a tio n a l bu sine ss cycle p e a k in 1973:IV, C a lifo rn ia ’s e c o n o m y h a s g ro w n m o re ra p id ly th a n th e N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in c o m e w as 19 p e rc e n t m o re th a n n a tio n a lly , ra n k in g C a lifo rn ia 13th a m o n g all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] N o n fa rm p ro p r ie to r s ’ in co m e increased 22.0 p e rc e n t from 1977:1 V to 1978:1 V, to $13.0 billion. D ivid en ds, in te re st, a n d re n ta l in com e inc re a se d 20.6 p erc e n t, to $29.3 b illio n . B oth ra te s o f in crease w ere higher th a n in a ny o th e r S ta te . It can b e a ssu m ed th a t in 1978:IV, the p ro p e rty ta x re d u c tio n d u e to P ro p o s itio n 13 w as n o t p assed on to c o n su m e rs in th e form o f re n t a n d p ric e re d u c tio n s, th u s re su lting in s h a rp increases in b o th p ro p r ie to r s ’ a n d re n ta l incom e. W a ge and salary disbursem ents (p a y ro lls) in C a lifo rn ia inc re a se d 13.9 p e rc e n t from y e a r to y ea r, as n e a rly all m a jo r p riv a te in d ustries registered p a y ro ll incre ases th a t led n a tio n a l c o u n te rp a rts . P rivate service-type in d u stry p a y ro lls inc re a se d 16.5 p erc e n t, to $64.4 billion; th e g a in led th e N a tio n ’s 13.1-perc ent g a in a n d ra n k e d seve nth a m o ng all S ta te ga in s. T h e fo u r m a jo r p riv a te service-ty pe in d u stry c o m p o n e n ts re gistere d p a y ro ll g ain s o f from 15.7 to 16.9 p e rce nt. D u ra b le s m a n u fa c tu rin g p ay ro lls in c re ased 19.2 p erc e n t, 4 p e rc e n ta g e p o in ts abo ve th e N a tio n ’s increase, to $21.3 billion. D e sp ite a strik e by p a p e r in d u stry w ork e rs th a t lasted all o f 1978:1 V, n o n d u ra b le s m a n u fa c tu rin g p a y ro lls in c re a se d 12.8 p erc e n t, lead in g th e N a tio n ’s in crease o f 10.0 p erc e n t. C o n s tru c tio n p ay ro lls in cre a se d 21.9 p erc e n t, c o m p a re d w ith 20.1 p e rc e n t n a tio n a lly . F e d e ra l G o v e rn m e n t p ay ro lls inc re a se d 7.4 p e rc e n t, m arg in a lly a bo v e th e N a tio n ’s 7.1-p e rc e n t av erag e incre ase, to $9.0 billion. S ta te a n d local g o v e rn m e n t p a y ro lls, re flecting th e effect o f w age freezes a n d layoffs stem m ing from P ro p o sitio n 13, in c re ased 0.6 p erc e n t, th e sm allest ga in re gistere d a m o n g all S ta tes. S ta te a n d local g o v e rn m e n t p ay ro lls in th e re m a in in g 49 S ta tes a n d th e D is tric t o f C o lu m b ia in cre a se d 7.7 p e rc e n t over th e sam e tim e spa n. W ith C a lifo rn ia ’s ec o no m y e x p a n d in g , S ta te u n em p lo y m e n t in su ra n c e b e ne fits dec line d 21.9 p erc e n t, to $980 m illion . Ch a r t Pe r c e n t 12.0 W a g e s a n d Sa l a r i e s - - 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V Ch a r t 3 .— To t a l Pe r s o n a l I n c o m e Ch a r t 4 .— I n d u s t r i a l C o m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Ca l i f o r n i a [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x, 19 72 = 10 0 Billio n S T A B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ca l i f o r n i a Un i t e d St a t e s 19 78 :1V 19 77:1V 19 77:111 19 77:1V 19 78 :111 U .S . St a t e U .S . St a t e 19 77:111 — 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V M i l l i o n s o f d o l l ar s , season al l y ad j u s ted at an n u al r a te s 1 Pe r c e n t c h a n g e 2 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 174 ,3 3 5 18 0 ,8 5 5 2 0 1,18 8 2 0 8 ,8 18 12 .4 15 .4 12 .6 15 .5 Fa r m p e r so n al i n c o m e .................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 3 ,4 0 8 4 ,0 9 1 4 ,9 10 6 ,112 4 7.9 4 4 .1 2 6 .3 4 9 .4 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 170 ,9 2 7 176 ,76 4 19 6 ,2 78 2 0 2 ,70 6 11.9 14 .8 12 .3 1 4 .7 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 174 ,3 3 5 18 0 ,8 5 5 2 0 1,18 8 2 0 8 ,8 18 12 .4 15 .4 12 .6 15 .5 W ag e a n d s a l a r y d i s b u r s e m e n t s ........................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 111,3 9 3 115 ,8 8 9 12 7,3 4 7 13 2 ,0 2 5 12 .1 14 .3 12 .6 13 .9 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 9 ,5 6 1 10 ,0 5 1 11,4 8 0 11,9 5 3 1 7 .0 2 0 .1 16 .4 18 .9 Pr o p r i e t o r s ’ i n c o m e ........................................................................................................................................................ 12 ,3 3 2 13 ,15 1 15 ,6 9 0 17,3 0 9 2 1.5 2 7.2 18 .9 3 1.6 10 5 ,9 5 3 12 5 ,9 9 5 Fa r m .............................................................. ...................................................................................................................... N o n f a r m ........................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 1,8 18 2 ,4 5 3 3 ,15 1 4 ,2 6 1 6 6 .6 73 .3 3 1.3 73 .8 8 2 ,3 17 9 4 ,9 5 1 10 ,5 13 10 ,6 9 8 12 ,5 4 0 13 ,0 4 8 12 .8 19 .3 15 .3 2 2 .0 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 2 3 ,8 0 2 2 4 ,3 2 5 2 8 ,5 72 2 9 ,3 4 0 12 .3 2 0 .0 12 .8 2 0 .6 Tr a n s f e r p a y m e n t s .......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 2 4 ,2 73 2 4 ,70 1 2 6 ,4 4 8 2 6 ,79 0 8 .8 9 .0 8 .2 8 .5 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 1,2 8 7 1,2 5 4 1,0 5 7 980 - 2 4 .0 - 3 0 .3 - 2 1 .9 Le s s : p e r s o n a l c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 7,0 5 5 7,2 8 2 8 ,3 5 7 8 ,6 0 8 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 29 20 9 9 W ag e a n d s al a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 111,3 9 3 115 ,8 8 9 12 7,3 4 7 13 2 ,0 2 5 12 .1 14 .3 12 .6 13 .9 Fa r m ..................................................................................................................................................................................... 7 ,17 6 7,9 3 9 1,4 4 6 1,4 8 9 1,5 9 6 1,6 78 8 .5 10 .3 10 .6 12 .7 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 10 9 ,9 4 7 114 ,4 0 0 - 1 7 .9 14 .8 18 .5 — — 15 .1 18 .2 — — 12 5 ,75 1 13 0 ,3 4 6 12 .1 14 .4 12 .6 13 .9 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 690 6 85 8 46 869 2 6 .5 2 2 .6 3 3 .9 2 6 .7 C o n s t r u c t i o n ............................................................................................................................................................ 5 5 ,6 4 8 6 6 ,8 5 8 6 ,0 19 6 ,3 2 4 7 ,4 7 4 7 ,7 1 1 19 .1 2 4 .2 2 0 .1 2 1.9 M a n u f a c t u r i n g ........................................................................................................................................................ 2 76 ,112 3 12 ,9 70 2 4 ,75 5 2 5 ,4 9 7 2 8 ,4 3 6 2 9 ,8 9 2 12 .1 14 .9 13 .3 17.2 Du r a b l e g o o d s .................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 17,2 0 2 17,8 5 4 2 0 ,0 8 4 2 1,2 73 13 .7 16 .8 15 .2 19 .2 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 7,5 5 3 7,6 4 3 8 ,3 5 1 8 ,6 19 9 .4 10 .6 10 .0 12 .8 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 5 2 ,713 5 5 ,2 6 9 6 2 ,0 11 6 4 ,4 16 12 .8 17 .6 13 .1 16 .5 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ....................................................... 76 ,5 8 4 8 5 ,2 6 4 8 ,0 6 8 8 ,16 1 9 ,113 9 ,4 4 0 10 .4 13 .0 11.3 15 .7 W h o l e s a l e a n d r e t a i l t r a d e ..................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 19 ,2 8 8 2 0 ,16 6 2 2 ,5 6 9 2 3 ,5 10 13 .6 17.0 14 .1 16 .6 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 6 ,2 11 6 ,6 9 0 7,5 3 5 7,78 8 14 .1 2 1.3 13 .2 16 .4 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 19 ,14 7 2 0 ,2 5 2 2 2 ,79 5 2 3 ,6 78 12 .6 19 .0 12 .7 16 .9 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 2 5 ,0 5 4 2 5 ,8 9 0 2 6 ,12 6 2 6 ,6 0 5 7.4 4 .3 6 .9 2 .8 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 7,9 3 5 8 ,4 2 1 8 ,4 2 0 9 ,0 4 0 7.3 6 .1 7 .1 7.4 St a t e a n d l o c a l ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 1 7 ,1 1 9 17,4 6 9 17 ,7 0 6 17,5 6 5 7.5 3 .4 6 .8 .6 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 716 73 4 857 854 18 .7 19 .8 14 .6 16 .3 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Ca l i f o r n i a Un i t e d St a t e s U.S . St a t e US. 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V _ _ _ _ _ _ _ _ _ 19 78 :111_ _ _ _ _ _ I n d e x , 1 9 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ver a g e 2 ........................................................................................................................................ Lo s A n g e l e s - Lo n g B e a c h ........................................................................................................................................ — 2 0 1.8 — Sa n Di e g o .............................................................................................................................................................................. — 18 5 .3 — Sa n Fr a n c i s c o — Oa k l a n d ............................................................................................................................................ — — 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b a s e d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , B u r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . — — St a t e 19 7 7:1V — _ _ _ _ _ _ 19 78 : I V_ _ _ Pe r c e n t c h a n g e — — 7.9 18 0 .9 18 3 .0 19 5 .2 19 7 .2 18 4 .1 18 6 .6 2 0 3 .5 2 0 8 .5 18 4 .0 18 7.3 2 0 4 .0 2 0 1.5 — — — 8 .9 7 .9 — 10 .5 — 10 .9 — — 7.8 1 1 .7 7.6 N O T E.— Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . S T A T E Q U A R T E R L Y E C O N O M IC 42 DEVELO PM EN TS L abor F orce p e rc e n ta g e p o in ts a b o v e th e N a tio n ’s 6 .2-pe rc e nt ra te , in 1978:IV, it was only 0.6 p e rc e n ta g e p o in t a bo v e th e N a tio n ’s 5 .5 -p erc en t ra te . F ro m 1977:IV to 1978:IV, C a lifo rn ia ’s civilian labor force in c re a se d 3.5 p e rc e n t, c o m p a re d w ith a 3 .1 -p e rc e n t a d v a n c e n a tio n a lly (ta b le 4). Total employment in cre a se d fro m 9.5 m illion to 10.0 m illion, a 5 .0 -p erc e nt a d v a n c e th a t led th e n a tio n a l a v e rag e a dv a n c e by m o re th a n 1 p e rc e n ta g e p o in t. A c ross th e S ta te, u n e m p lo y m e n t ra te s v a rie d c on sid era b ly . A c c ordin g to p re lim in a ry d a ta fo r D e c e m b e r 1978, u n e m p lo y m e n t ra te s in C a lifo rn ia ’s m a jo r m e tro p o lita n a re a s ra n g ed from 4.1 p e rc e n t in A n a h e im -S a n ta A n a -G a rd e n G ro v e to 11.2 p e rc e n t in S to c k to n ; th e p re lim in a ry S ta te ra te w as 6.3 p erc e n t. T h e tw o large st a re a s, L os A ng e le s-L on g B each a n d S an F ra n c isc o -O a k la n d , b o th reg istered u n e m p lo y m e n t ra te s o f 5.5 p ercent. W ith e m p lo y m e n t in c re a sin g by 477,000 a n d th e la b o r fo rce in cre asing by o n ly 365,000, th e n u m b e r o f unemployed declined by 112,000. T he unemployment rate d ec line d 1.3 p e rc e n ta g e p o in ts, to 6.1 p e rc e n t o f th e la b o r force. W hile in 1977:IV, C a lifo rn ia ’s u n e m p lo y m e n t ra te w as 1.2 Ch a r t 5 — La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ca l i f o r n i a Ch a r t 6 .— U n e m p l o y m e n t Ra t e s , 1 9 7 7 :I V - 1 9 7 8 : I V M illi o n s Pe r c e n t 12.so -10.00 - - 7 .5 0 - - 5 .0 0 - - La b o r Fo r c e Em p l o y m e n t 2 .5 0 Un e m p l o y m e n t - - 0 . 00 — ■- 1 3 2 T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 .........'■ ■ Un i t e d St a t e s U.S . Ca l i f o r n i a St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... M i n i n g .................................................................................................................................................................................... C o n s t r u c t i o n ....................................................................................................................................................................... M a n u f a c t u r i n g ................................................................................................................................................................... Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... Se r v i c e s .................................................................................................................................................. Go v e r n m e n t ......................................................................................................................................................................... Ci v i l i a n l a b o r f o r c e 1 ......................................................................................................................... To t a l e m p l o y e d ................................................................................................................................................................. To t a l u n e m p l o y e d .................................................................................................................................................. Pe r c e n t u n e m p l o y e d ........................................................................................................................................ Pe r c e n t c h a n g e 1 8 4 ,2 10 8 7,70 8 8 ,5 8 8 8 ,70 4 9 ,0 8 8 9 ,2 6 0 4 .3 5 .8 4 .2 78 7 899 36 36 36 36 8 .2 1 .7 14 .2 2 .0 4 ,0 3 2 4 ,4 8 8 3 76 380 427 428 10 .4 13 .5 11.3 12 .7 19 ,9 8 6 2 0 ,72 2 1,7 5 7 1,72 2 1,8 4 3 1,8 4 8 4 ,76 1 4 ,9 71 48 4 48 1 504 19 ,15 2 2 0 ,0 15 1,9 8 9 2 ,0 3 7 2 ,14 3 2 ,2 13 5 .3 4 ,8 5 2 4 ,75 6 505 507 531 5 36 4 .8 15 ,5 3 9 16 ,2 15 1,76 0 1 ,7 7 4 1,8 8 9 1,9 2 0 4 .6 7.3 508* 6 .4 3 .1 4 .9 3 .7 7.4 3 .8 4 .2 4 .4 5 .7 7 .7 4 .5 8 .7 5 .1 - 2 .0 4 .4 5 .8 8 .2 15 ,4 3 4 15 ,6 5 6 1,6 8 2 1,76 9 1,7 16 1 ,7 7 1 2 .1 2 .0 1.4 .1 9 8 ,5 9 1 10 1,6 15 10 ,2 6 9 10 ,2 9 2 10 ,6 8 0 10 ,6 5 7 3 .2 4 .0 3 .1 3 .5 9 2 ,4 4 2 9 6 ,0 10 9 ,4 4 4 9 ,5 3 1 9 ,9 16 10 ,0 0 8 6 ,14 9 5 ,6 0 5 825 76 1 76 4 6 49 6 .2 5 .5 8 .0 7.4 7 .2 6 .1 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , B u r e a u o f La b o r St a t i s t i c s . 19 78 :1V 19 78 :111 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 St a t e 19 7 7:1V — 19 77:111— 4 .1 - 9 .8 5 .0 - 7 .4 3 .9 5 .0 - 8 .8 - 1 4 .7 I. A p r il 1979 43 Ch a r t 7 .— Ci v i l i a n Ch a r t La b o r Fo r c e In d e x, 19 72 = 10 0 Em p l o y m e n t In d e x, 19 72 = 10 0 Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Ca l i f o r n i a Pe r c e n t 8 .— Ci v i l i a n Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : 44 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS C o m m er cia l B a n k in g D u e to c ha nges in th e d a ta re p o rtin g p rac tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b a n k in g d a ta a rriv e d to o la te fo r this re p o rt to in clu de th e c om m ercial b a n k in g discu ssion a n d th e c o m m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . 12 T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ca l i f o r n i a Un i t e d St a t e s St a t e U .S . U .S . 19 77:1V 19 78 :1V 19 77:111 19 78 :111 19 77:I V 19 78 :1V Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e ' M ill io ns of dol lar s, n ot seasonally a d ju s te d 1 To t a l l o a n s ....................................................................................................................................................... St a t e 19 7 7:1V — 1 9 7 7 :1 1 1 - 6 10 ,5 0 2 n .a . 6 6 ,12 7 70 ,5 10 6 1,2 8 1 n .a . 16 .3 2 2 .9 19 6 ,3 17 n .a . 2 0 ,5 2 3 2 1,6 72 2 3 ,8 2 2 n .a . 14 .2 16 .1 — — — — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 13 ,5 9 1 14 ,6 4 8 17,7 8 3 n .a . 2 0 .2 308 — — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 2 2 ,2 4 9 2 3 ,6 8 8 2 8 ,4 5 4 n .a . 19 .9 2 7.9 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 14 ,6 0 1 15 ,2 9 2 18 ,2 15 n .a . 2 1.3 2 4 .7 — — Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 23 0 246 320 n .a . 10 .7 3 8 .8 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 7,4 18 8 ,15 1 9 ,9 2 0 n .a . 19 .0 3 3 .7 Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 2 ,0 4 0 2 ,0 2 0 2 ,2 9 4 n .a . 6 .8 12 .5 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 7,7 2 4 8 ,4 8 2 8 ,9 2 8 n .a . 8 .0 15 .6 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 9 4 ,17 7 10 1,12 5 10 8 ,6 6 8 n .a . 1 1.5 15 .4 D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 3 4 ,5 8 0 3 7,5 5 1 3 8 ,5 3 4 n .a . 10 .2 1 1.4 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 5 9 15 9 6 6 3 ,5 74 70 ,13 4 n .a . 12 .3 1 7 .7 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — — — — — --------- • — — — — — — A p r il 1979 45 C o n str u c tio n T h e to ta l v a lu a tio n o f c o n tra c ts in C a lifo rn ia rose o nly 1.7 p e rc e n t from 1977:IV to 1978:IV, lagging th e N a tio n ’s 16.8-perc ent a v e rag e g a in , to $4.4 b illion (ta b le 6). N a tio n a l c o n stru c tio n c o sts rose a b o u t 13 p e rc e n t d u rin g th e sam e tim e sp a n ; if th is rise reflects th e a d v a n c e th ro u g h o u t C a lifo rn ia , th e re al v a lu a tio n o f c o n tra c ts dec line d a b o u t 11 p e rc e n t in th e S ta te v ersu s a n a tio n a l rise o f a b o u t 4 p e rce nt. T h e v a lu a tio n o f re sid e n tia l h ou sek e e p in g c o n tra c ts d ec line d 1.7 p e rc e n t, c o m p a re d w ith th e N a tio n ’s 15.6-percent g a in , to $2.0 b illion. C a lifo rn ia w as o n e o f o nly th re e S ta tes to re g ister a decline. T h e n u m b e r o f dw elling u n its s ta rte d d ec line d by o n e -fifth , to 44,400 u n its. N a tio n a l ly, in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w a s a lm o s t u nc h a n g e d a t a high level. N o n re sid e n tia l c o n tra c ts dec line d 6.8 p e rc e n t in v a lu a tio n versus a n a tio n a l g ain o f 15.8 p erc e n t. T h e dec line to ta le d $73.5 m illion , the large st d o lla r dec line a m o n g all c a te go rie s o f c o n stru c tio n in th e S ta te. A d d itio n s a nd a lte ra tio n s to re sid e n tia l h o u sek e ep in g u n its w a s th e only m a jo r c o n stru c tio n c a te g o ry in w hich C a lifo rn ia re g istere d a g ain in v a lu a tio n . T h e v a lu a tio n o f the se c o n tra c ts rose 30.3 p e rc e n t, o v e r tw ice th e n a tio n a l ave rag e g a in , to $1.0 b illio n. T h e p e rc e n t g ain w a s o n e o f th e large st in th e N a tio n . T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts de c line d a lm o s t 10 p erc e n t, c o m p a rin g u n fa v o ra b ly w ith a 2 2 .2-p e rc e n t g ain n a tio n a lly , to $342 m il lion . S tre ets a n d highw ays, a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d 7.8 p erc e n t in v a lu a tio n , less th a n o n e -h a lf o f the N a tio n ’s decline. Ch a r t Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x , 19 7 6 = 10 0 Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ca l i f o r n i a Bill io n $ Ch a r t Pe r c e n t 1 5 .— Co n s t r u c t i o n 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 7 7 :1 V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Un i t e d St a t e s 19 77:1V 19 78 :1V Qu a r t e r , 19 78 ’ Ca l i f o r n i a 19 77:111 19 77:I V 19 78 :111 St a t e U .S . To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V No t seasonally adjus ted Re s i d e n t i a l U.S . 19 77:111 — Pe r c e n t c h a n g e 2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 4 ,4 9 0 ,0 9 3 4 ,3 5 9 ,6 6 6 5 ,4 6 2 ,5 4 5 4 ,4 3 3 ,6 4 7 14 .5 2 1 .7 16 .1 U 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 78 0 ,6 8 7 78 6 ,74 3 1,0 9 6 ,18 1 1,0 2 4 ,9 2 6 16 .8 4 0 .4 14 .6 3 0 .3 housek eep ing , ad d it i o n s and al te ra ti on s: Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 5 ,4 16 5 ,0 6 8 6 ,3 9 2 5 ,12 3 4 .4 18 .0 - 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 3 ,70 9 ,4 0 6 3 ,5 72 ,9 2 3 4 ,3 6 6 ,3 6 4 3 ,4 0 8 ,72 1 14 .0 1 7 .7 17.4 - 4 .6 Fl o o r a r e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 117,0 0 1 10 8 ,6 19 12 6 ,9 4 6 9 9 ,6 0 1 10 .8 8 .5 10 .2 - 8 .3 1.1 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 1,2 2 5 1,0 77 1,0 6 9 8 21 - 5 .1 - 1 2 .7 - 4 .3 - 2 3 .8 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 6 4 ,0 9 6 5 5 ,8 2 3 5 8 ,2 5 0 4 4 ,4 3 3 1.0 - 9 .1 - .6 - 2 0 .4 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 2 ,3 5 9 ,0 79 2 ,0 6 3 ,0 5 1 2 ,3 4 3 ,3 2 6 2 ,0 2 8 ,4 75 15 .3 - .7 15 .6 - 1 .7 Fl o o r ar e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 8 0 ,9 5 9 70 ,8 2 3 77,6 3 0 6 4 ,4 2 7 10 .3 - 4 .1 10 .7 - 9 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 55 55 52 41 - 10 .0 - 5 .5 - .4 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 3 4 ,6 4 2 4 5 ,0 76 3 3 ,6 0 4 2 6 ,2 0 3 9 .4 - 3 .0 4 4 .8 - 4 1 .9 Fl o o r ar e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 854 1,12 1 1,0 0 4 538 - .7 17.5 2 4 .7 - 5 2 .0 - 2 5 .5 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 2 ,8 5 9 2 ,773 3 ,5 0 4 2 ,9 6 6 - 2 .5 2 2 .6 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 9 3 4 ,0 5 1 1,0 8 5 ,3 5 3 1,3 70 ,74 6 1,0 11,8 5 0 2 7.6 4 6 .8 15 .8 - 6 .8 Fl o o r ar e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 3 5 ,18 9 3 6 ,6 75 4 8 ,3 13 3 4 ,6 3 6 12 .2 3 7.3 8 .9 - 5 .6 - 1 2 .0 7.0 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 1 ,2 7 7 1,16 3 1,76 7 1,2 9 5 2 2 .4 3 8 .4 - 9 .1 11.3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 3 8 1,6 3 4 3 79 ,4 4 3 6 18 ,6 8 8 3 4 2 ,19 3 - .1 6 2 .1 2 2 .2 - 9 .8 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 500 338 6 06 351 9 .3 2 1.2 - 1 7 .8 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 116 ,2 3 1 9 1,4 8 5 12 6 ,8 4 5 8 4 ,3 8 1 3 .0 9 .1 - 1 6 .3 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h a n g e s f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r ar e a d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 3 .8 - 7 .8 R e ta il S a le s R e ta il sales in C a lifo rn ia to ta le d a lm o s t $23.5 billion in 1978:IV, u p 11.7 p e rc e n t ($2.5 b illio n) since 1977:1V, c o m p a re d w ith a n 11.2-percent n a tio n a l in cre ase (ta b le 7). In 1978:IV, n o n d u ra b le g o o d s a c c o u n te d for o v e r $15.7 billion, a n d d u ra b le g o o d s a c c o u n te d fo r o v e r $7.7 b illion. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ca l i f o r n i a Un i t e d St a t e s St a t e U .S . U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M ill io ns of do ll ar s , not seaso nally adjus ted St a t e 1 9 7 7 :1 V 19 78 : IV Pe r c e n t c h an g e 19 7,0 3 0 2 19 ,0 2 0 19 ,4 0 4 2 1,0 13 2 1,3 9 7 2 3 ,4 6 4 10 .3 6 2 ,0 6 5 7 1,5 7 3 n .a . n .a . 7,2 0 5 7,73 4 11.8 — 15 .3 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . l n .a . 14 ,19 2 15 ,73 0 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . 10 .3 1 1 .7 Re t a i l s a l e s ........................................................................................................................................................ Du r a b l e g o o d s ............................................................................................................................................................. 11.2 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 — Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ca l i f o r n i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ca l i f o r n i a Un i t e d St a t e s St a t e U .S . U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 19 7 7:1V — 19 77:111 — 19 78 :1V 19 78 :111 Pe r c e n t c h an g e No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s I n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . 12 ,3 18 12 ,79 5 12 ,4 3 7 n .a . 8 .2 1.0 — — To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 28 4 248 29 5 n .a . - 9 .5 3 .9 — — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 8 3 ,4 79 8 2 ,8 11 8 7,6 5 7 n .a . - 4 4 .2 5 .0 — -- ------- Ave r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 29 4 33 4 29 7 n .a . - 3 8 .4 1.0 — — - 1 2 .9 1 Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 62 53 54 n .a . - 1 0 .1 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 39 34 51 n .a . 1.0 3 0 .8 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 30 31 20 n .a . - 2 7 .1 - 3 3 .3 Ret a i l t r a d e ........................................................................................................................................................................... 6 88 n .a . 112 89 13 0 n .a . - 4 .2 16 .1 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 41 41 40 n .a . - 2 4 .0 - 2 .4 — — — — — — — — . -----------— n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & Br a d s t r e e t, In c . N O T E.— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 47 CO LO RADO H ig h lig h ts 1977 :IV to 1978 :IV Personal income — U p 12.2% vs. 12.6% in U .S ., to $22.3 billion — F a rm p e rso n a l in c o m e d ow n 12.5% vs. 26.3% in cre a se in U .S. — P a yro lls up 14.1% in services vs. 12.7% in U .S. Consumer prices — D e n v e r-B o u ld e r index u p to 212.9 in 1978:IV (1 9 6 7 = 1 0 0 ) Employment — U p 6.1% vs. 3.9% in U .S ., to 1.3 m illion Unemployment — D o w n 7,000, to 65,000 — R a te d ow n to 4.9% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 1.3% vs. 16.8% in U .S ., to $698.9 m illion — V a lu a tio n o f n o n b u ild in g c o n tra c ts d ow n 44.2% vs. 22.2% in crease in U .S. — N u m b e r o f d w e llin g-u nit s ta rts d ow n 7.0% vs. n e a r sta b ility in U .S ., to 8,272 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Co l o r a d o Th r o u ( h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 U .S . Co l o r a d o St a t e U .S . 19 77:111— 19 77:1V 19 78 : I V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 19 7 7:1V — 19 78 :1V Pe r c e n t c h a n g e To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 *3 ,5 0 « 1 ,7 * 2 ,5 1 9 11,9 0 « 1 9 ,( 7 * 2 1,6 9 4 2 2 ,3 10 12 .4 1 4 .7 12 .6 12 .2 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 12 ,4 7 7 13 ,10 7 14 ,4 4 9 1 4 ,( 1 3 1 2 .1 15 .« 12 .6 13 .0 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 1,19 3 1 ,1 ( 4 1 ,2 4 * 1,2 5 6 4 .1 4 .6 3 .9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 75 72 69 65 - 9 .« — - 7 .9 — Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 5 .9 5 .7 5 .3 4 .9 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 6 ,3 2 9 6 ,6 16 7,5 5 0 n .a . 16 .3 - * .* 6 .1 - 1 0 .0 — — 19 .3 — — — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 11 n .i . 9 ,0 75 9 ,6 3 5 10 ,5 2 6 n .a . 11.5 16 .0 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 6 3 0 ,3 3 1 6 9 0 ,0 5 3 1 * 2 ,9 1 2 6 9 t ,9 3 1 14 .5 4 0 .1 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 9 ,9 1« l ,« 9 2 11,5 2 6 ( .2 7 2 1.0 16 .2 - .6 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . n .i . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .i . 1 ,9 2 * 1,8 4 6 2 ,119 n .a . t .2 9 .9 — — Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1 ,6 *4 n .i . 14 7 11 n .i . - 9 .5 - 2 1 .4 — — 1*5 .3 — 2 0 1 .* — 2 0 5 .5 2 12 .9 — 1 1 .2 1.3 - 7 .0 — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... D e n v e r - B o u l d e r ............................................................................................................................................... n .a .: Da t a n o t a v a i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 7.9 — — ( .9 — — 48 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se asona lly a d ju ste d at a n n u a l ra te s) increased 12.2 p e rc e n t from 1977:1V to 1978:1V, c o m p a re d w ith 12.6 p erc e n t n a tio n a lly (ta b le 2). In 1978:1V, th e S ta te ’s p e rso n a l in co m e to ta le d $22.3 billion , u p $2.4 billion since 1977:IV. T h e Consumer Price Index (1 9 67 = 100) for D e n v e r-B o u ld e r w as 212.9 in 1978:IV, up from 205.5 in 1978:111 (ta b le 3). C o lo ra d o ’s in crease in p e rso n a l in co m e , th e sm a llest in th e R ocky M o u n ta in re gion , w o u ld have been la rg e r h ad it n o t been fo r a 12.5p e rc e n t decline in farm p e rso n a l in c o m e in th e S ta te , c o m p a re d w ith a 2 6 .3 -p erc en t n a tio n a l g a in . C o lo ra d o ’s d ec line w as th e e ighth large st in th e N a tio n . T h e S ta te ’s n o n fa rm p e rso n a l incom e in c re a se d 12.8 pe rc e n t from y e a r to y e a r, 0.5 p e rc e n ta g e p o in t m o re th a n n a tio n a lly . Since th e last n a tio n a l b usine ss cycle p ea k in 1973:IV, C o lo r a d o ’s n o n fa rm e c o n om y h as g ro w n m o re ra p id ly th a n th e N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in c o m e w as 14 p e rc e n t m o re th a n n a tio n a lly , ra n k in g C o lo ra d o 17th a m o n g all S tates. W age and salary disbursements (p a y ro lls) in th e S ta te inc re a se d 13.0 p e rc e n t from 1977:1 V to 1978:IV, c o m p a re d w ith 12.6 p erc e n t n a tio n a l ly. In 1978:1 V, they to ta le d $14.8 b illio n, up $1.7 billion since 1977:IV. W ithin C o lo r a d o ’s p riv a te service-type in d u stry g ro u p , p a yro lls increased m o re slowly th a n n a tio n a lly only in w h olesale a n d re ta il tra d e — 11.9 p e rc e n t versus 14.1 p erc e n t. P ay ro lls in tra n s p o rta tio n c o m m u n ic a tio n -p u b lic utilities inc re a se d 16.6 pe rc e n t in th e S ta te versus 11.3 p e rc e n t n a tio n a lly ; C o lo ra d o ’s in crease w as th e fo u rth largest in th e N a tio n , a fte r in creases in N e v a d a , W a sh in g to n , a n d S o u th C a ro lin a . P ay ro lls in fin a nc e -in sura n c e-re a l e sta te inc re a se d 15.2 p e rc e n t versus 13.2 p e rc e n t n a tio n a lly , a n d services p a y ro lls increased 14.1 p erc en t versus 12.7 p ercent. P ay ro lls in th e S ta te ’s n o n d u ra b le g o od s m a n u fa c tu rin g in d ustry inc re a se d 19.2 p erc e n t, a lm o st tw ice th e N a tio n ’s increase. C o lo ra d o ’s in crease w as th e th ird large st in th e N a tio n , a fte r increases in U ta h a n d N o rth D a k o ta . D u ra b le s m a n u fa c tu rin g p ay ro lls inc re a se d 14.3 p erc en t in th e S ta te , a lm o st 1 p erc e n ta g e p o in t less th a n n a tio n a lly . Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t C o n s tru c tio n p a y ro lls inc re a se d 20.3 p erc e n t from y ea r to yea r, or slightly m o re th a n n a tio n a lly . In c o n tra s t, m inin g p a y rolls, w hich in c re ased 26.9 p e rc e n t in th e S ta te , lagged th e n a tio n a l in crease by 7.0 p e rc e n ta g e p oin ts. S ta te a n d local g o v e rn m e n t p ay ro lls inc re a se d 8.0 p e rc e n t in C o lo ra d o , c o m p a re d w ith a 6.8 -p erc e n t n a tio n a l in crease. In c o n tra st, F e de ral G o v e rn m e n t p a y ro lls inc re a se d only 1.8 pe rc e n t from y ea r to year; 47 S ta te s re g iste re d large r increases. T h e n a tio n a l in cre ase in F e de ral G o v e rn m e n t p a y ro lls w as 7.1 p ercent. F ro m 1977:1 V to 1978:1 V, S ta te u n e m p lo y m e n t in su ra n c e benefits dec line d 39.2 p e rc e n t in C o lo ra d o versus 30.3 p e rc e n t n atio n ally . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V Pe r c e n t W a g e s a n d Sa l a r i e s Ch ar t 3 .— Tot al Per sonal Inc om e Ch ar t 4 .— In du st r i al Com p osi ti on o f Wages and Sal ari es: Col or ado [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e «. 1 9 7 2 = 1 0 0 Billio n } T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Co l o r a d o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Co l o r a d o Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 U.S . St a t e U .S . St a t 19 77:111— 1 ‘ 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V M ill io ns o f do ll ar s , seasonally ad ju s te d at annu al rate s' Pe r c e n t c h a n g e 2 1 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 1 1,78 2 ,5 19 18 ,9 0 8 19 ,8 78 2 1,6 9 4 2 2 ,3 10 12 .4 14 .7 12 .6 Fa r m p e r s o n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 235 420 303 368 4 7.9 2 8 ,8 2 6 .3 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ - 1 2 .5 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 18 ,6 72 19 ,4 5 8 2 1,3 9 1 2 1,9 4 3 11.9 14 .6 12 .3 12 .8 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 18 ,9 0 8 19 ,8 78 2 1,6 9 4 2 2 ,3 10 12 .4 14 .7 12 .6 12 .2 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 12 ,4 77 13 ,10 7 14 ,4 4 9 14 ,8 13 12 .1 15 .8 12 .6 13 .0 18 .2 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... Pr o p r i e t o r s ’ i n c o m e ....................................................................................................................................................... Fa r m ....................................................................................................................................................... 12 .2 9 6 ,0 16 1 1 1 ,7 1 9 997 1,0 5 8 1,2 2 4 1,2 5 1 17.0 2 2 .7 16 .4 10 5 ,9 5 3 12 5 ,9 9 5 1,2 2 4 1,4 3 7 1,4 4 7 1,5 5 0 2 1.5 18 .2 18 .9 7.9 2 3 ,6 3 6 3 1,0 4 4 12 9 308 18 6 245 6 6 .6 4 4 .2 3 1.3 - 2 0 .6 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 1,0 9 6 1,12 9 1,2 6 1 1,3 0 5 12 .8 15 .1 15 .3 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 15 .6 2 14 ,9 9 2 2 4 2 ,4 4 2 2 ,6 3 9 2 ,70 3 2 ,9 6 4 3 ,0 5 3 12 .3 Tr a n s f e r p a y m e n t s ........................................................................................................................ 12 .3 12 .8 12 .9 2 15 ,9 4 4 2 3 3 ,75 0 2 ,2 78 2 ,3 10 2 ,4 6 2 2 ,5 0 2 8 .8 8 .1 8 .2 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 8 .3 11,12 8 7,75 3 10 2 95 59 57 - 2 4 .0 - 4 2 .6 Le s s : p e r s o n a l c o n t r i b u t i o n s .................................................................................................................................. - 3 0 .3 - 3 9 .2 6 2 ,2 12 71,6 10 70 3 73 1 8 46 852 14 .8 2 0 .4 15 .1 Pl u s : r e s i d e n c e a d j u s t m e n t ...................................................................................................................................... 16 .5 -4 0 1 -4 73 -5 -5 -6 -6 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 12 ,4 77 13 ,10 7 14 ,4 4 9 14 ,8 13 12 .1 15 .8 12 .6 13 .0 7 ,17 6 7,9 3 9 10 4 10 9 114 119 8 .5 10 .2 10 .6 9 .4 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 12 ,3 73 12 ,9 9 8 14 ,3 3 5 14 ,6 9 4 12 .1 15 .9 12 .6 13 .0 Fa r m ............................................................................................................................................................. N o n f a r m ................................................................................................................................ M i n i n g .................................................................................................................................... 14 ,0 4 8 18 ,8 13 445 4 76 604 604 2 6 .5 C o n s t r u c t i o n ........................................................................................................................................................... 3 5 .8 3 3 .9 2 6 .9 5 5 ,6 4 8 6 6 ,8 5 8 840 906 1,0 9 3 1,0 9 0 19 .1 3 0 .2 M a n u f a c t u r i n g ....................................................................................................................................................... 2 0 .1 2 0 .3 2 7 6 ,112 3 12 ,9 70 2 ,12 2 2 ,2 5 0 2 ,5 3 8 2 ,6 11 12 .1 19 .6 Du r a b l e g o o d s ................................................................................................................................................. 13 .3 16 .0 176 ,2 16 2 0 3 ,0 5 3 1,3 5 7 1,4 5 1 1,6 2 1 1,6 5 8 13 .7 19 .5 15 .2 14 .3 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 76 5 800 9 16 953 9 .4 19 .8 Pr i v a t e s e r v i c e - t y p e ......................................................................................................................................... 10 .0 19 .2 4 5 5 ,76 4 5 15 ,3 4 8 5 ,9 16 6 ,13 8 6 ,8 5 5 6 ,9 8 5 12 .8 15 .9 13 .1 13 .8 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 1,0 14 1,0 5 3 1,18 9 1,2 2 8 10 .4 17 .2 11.3 16 .6 170 ,8 8 8 19 5 ,0 3 5 2 ,3 2 5 2 ,4 0 0 2 ,6 4 8 2 ,6 8 5 13 .6 13 .9 14 .1 11.9 5 4 ,4 5 2 6 1,6 5 3 70 4 72 7 8 23 838 14 .1 17.0 13 .2 15 .2 15 3 ,8 4 0 173 ,3 9 6 1,8 74 1,9 5 9 2 ,19 5 2 ,2 3 5 12 .6 1 7 .1 12 .7 14 .1 2 0 1,2 5 2 2 15 ,0 8 3 3 ,0 15 3 ,19 1 5 .4 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... Fi n a n c e , I n s u r a n c e , a n d r e al e s t a t e ............................................................................................... Se r v i c e s ................................................................................................................................................................. Go v e r n m e n t ............................................................................................................................................................. Fe d e r a l ................................................................................................................................................................... St a t e a n d l o c a l ............................................................................................................................................... 3 ,2 0 3 3 ,3 6 2 7.4 6 .2 6 .9 6 8 ,176 73 ,0 0 3 1,2 8 6 1,3 4 8 1,3 3 4 1,3 72 7.3 3 .7 7 .1 1.8 13 3 ,0 76 14 2 ,0 8 0 1,72 9 1,8 4 3 1,8 6 9 1,9 9 0 7.5 8 .1 6 .8 8 .0 3 ,2 16 3 ,6 8 5 35 36 42 42 18 .7 2 0 .5 14 .6 15 .1 Ot h e r .......................................................................................................................................... 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l 2 . Ba s e d o n u n r o u n d e d d a t a . Ec o n o m i c M e a s u r e m e n t Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Co l o r a d o Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Co l o r a d o Un i t e d St a t e s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77: I V 19 78 :111 19 78 :1V 19 78 :111 I n d e x, 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ver a g e 2 ....................................................................................................................................... 18 5 .3 D e n v e r - B o u l d e r ............................................................................................................................................................ 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a ta a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e as b ase d on t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 2 0 1.8 19 78 :1V Pe r c e n t c h an g e — ------ 7.9 — St a t e 1 9 7 7 :1 V - 2 0 5 .5 2 12 .9 8 .9 — — N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e 50 S TA TE Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S L abor Force F ro m 1977:IV to 1978:IV, C o lo ra d o ’s civilian labor force in c re ased 5.2 p e rc e n t versus 3.1 p e rc e n t n a tio n a lly (ta b le 4). C o lo ra d o ’s in cre ase w as th e sixth la rge st in th e N a tio n . Total employment in th e S ta te in c re a se d 6.1 p e rc e n t v ersu s 3.9 p e rc e n t n a tio n a lly , to 1.3 m illion. C o lo ra d o ’s in cre ase w as th e sev en th la rge st in th e N a tio n . Ch a r t W ith e m p lo y m e n t in c re a sin g by 72,000 a n d th e la b o r force in c re a sin g by 65,000, th e n u m b e r o f unemployed de c line d by 7,000, to 65,000. C ol o r a d o ’s unemployment rate dec line d 0.8 p e rc e n ta g e p o in t, to 4.9 p e rc e n t o f th e la b o r force. T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:IV w a s 5.5 p erc e n t, d ow n 0.7 p e rc e n ta g e p o in t from th e 1977:IV level. 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d U n e m p l o y m e n t , 19 78 :1V : Co l o r a d o Ch a r t M illions 6 .— Un e m p l o y m e n t Ra t e s , 1 9 7 7 :1 V — 19 78 :1V Pe r c e n t 19 77:1V 19 78 :1V U n i t e d St a t e s Co l o r a d o T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Co l o r a d o T h r o u f h Fo u r t h Qu a r t e r , 19 78 Co l o r a d o Un i t e d St a t e s U.S . St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V - 19 77:111 — 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ...................................................................................... 8 4 ,2 10 8 7,70 8 1,0 7 1 1,0 9 7 1 ,1 3 1 1,14 9 4 .3 5 .6 4 .2 M i n i n g ...................................................................................................................................................................................... 78 7 899 25 25 27 27 8 .2 8 .8 14 .2 7.1 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 68 68 75 73 10 .4 10 .5 11.3 6 .8 M a n u f a c t u r i n g ................................................................................................................................................................... 4 .7 19 ,9 8 6 2 0 ,72 2 15 5 15 8 16 5 16 9 3 .1 6 .1 3 .7 6 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 64 64 70 71 3 .8 9 .6 4 .4 10 .0 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 2 72 2 79 28 3 28 5 5 .3 4 .0 4 .5 1.9 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 63 64 67 67 4 .8 6 .2 - 2 .0 5 .8 S e r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 2 14 2 13 229 228 4 .6 7.4 4 .4 6 .8 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 2 11 225 2 16 23 0 2 .1 2 .2 1.4 2 .3 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1,2 6 8 1,2 5 6 1,3 17 1,3 2 1 3 .2 3 .9 3 .1 5 .2 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,19 3 1,18 4 1,2 4 8 1,2 5 6 4 .1 4 .6 3 .9 6 .1 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 75 72 69 65 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 5 .9 5 .7 5 .3 4 .9 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b ei n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e ak i n t h e s e r i e s , a n d u se r s ar e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . - 9 .8 — - 7 .9 — - 8 .8 — - 1 0 .0 A p r il 1979 51 Ch a r t 7 .— Ci v i l i a n La b o r In d e x, 19 72 = 10 0 8 — Ci v i l i a n Em p l o y m e n t In d e x, 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t Fo r c e 9 .— U n e m p l o y m e n t Ra t e Ch a r t M il li o n s 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Co l o r a d o 52 S TA TE Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S C o m m er cia l B a n k in g D u e to c ha n ge s in th e d a ta re p o rtin g p ra ctice s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b an k in g d a ta a rriv e d to o la te fo r th is r e p o rt to in clu de th e com m ercial b an k in g discussion a n d th e co m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Co l o r a d o Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 U .S . Co l o r a d o St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 M ill io ns of dol lar s, not seaso nally ad ju s te d1 Pe r c e n t c h a n g e 1 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 6 ,3 2 9 6 ,6 16 7,5 5 0 n .a . 16 .3 Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 2 ,0 0 6 2 ,0 8 5 2 ,3 5 7 n .a . 14 .2 17.5 Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 1 ,7 4 7 1,8 5 9 2 ,0 9 4 n .a . 2 0 .2 19 .8 19 .3 Real e s t a t e ............................................................................................................................................................................ 177,9 3 5 n .a . 1,4 8 1 1,5 5 0 1,8 5 6 n .a . 19 .9 2 5 .3 Re s i d e n t i a l ...................................................................................................................................................................... 10 1,2 3 6 n .a . 72 8 75 5 902 n .a . 2 1.3 2 3 .9 Fa r m s .................................................................................................................................................................................. 7,73 1 n .a . 46 40 39 n .a . 10 .7 Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 70 6 75 5 9 15 n .a . 19 .0 Fa r m s , e xc l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 715 690 73 7 n .a . 6 .8 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 380 432 505 n .a . 8 .0 t o t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 9 ,0 75 9 ,6 3 5 10 ,5 2 6 n .a . 11.5 D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 3 ,8 8 8 4 ,3 4 4 4 ,5 72 n .a . Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 5 ,18 7 5 ,2 9 2 5 ,9 5 4 n .a . 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d data. So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . St a t e 19 7 7:1V — 19 77:111— — — __ __ — — — — — — — — — — 3 .1 — — 3 3 .0 — — 16 .0 — — 10 .2 17.6 — _____ 12 .3 14 .8 — — - 1 4 .9 2 9 .5 A p r il 1979 53 C o n str u c tio n F ro m 1977:IV to 1978:IV, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts in cre a se d only 1.3 p e rc e n t ($8.9 m illio n), to $698.9 m illion (ta b le 6). F o r ty -o n e S ta te s re gistere d la rg e r increases. T h e n a tio n a l in cre a se w as 16.8 p e rce nt. In 1977:1V-, a $110 m illio n c o n tra c t fo r th e c o n stru c tio n o f a n elec tric g e n e ra tin g p la n t in El P aso C o u n ty ra ise d th e S ta te ’s to ta l v a lu a tio n o f c o n tra c ts to a n u n u s u a lly high level, th e re b y d is to rtin g th e su b s e q u e n t y e a r-to -y e a r c ha ng e. I f th e p la n t is e xc lude d, th e to ta l v a lu a tio n o f c o n tra c ts in C o lo ra d o w ou ld h a ve in c re ased 20.5 p erc e n t. N a tio n a l c o n s tru c tio n c osts in cre a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e sp a n , a n d if this in c re a se is re p re se n ta tiv e o f th e in cre ase th ro u g h o u t th e S tate, th e to ta l v a lu a tio n o f c o n tra c ts in C o lo ra d o (in clu din g th e e lec tric g e n era ting p la n t) su sta in e d a real dec line o f a b o u t 12 p erc e n t versus a real in crease o f a b o u t 4 p e rc e n t n atio n a lly . C o lo ra d o ’s decline w as one o f th e la rge st in th e N a tio n . T h e stre e t a n d highw ay c o m p o n e n t o f n o n b u ild in g c o n tra c ts m o re th a n d o u b le d in v a lu a tio n versus a 16.3 -pe rce n t n a tio n a l decline. C o lo ra d o ’s in cre a se w as o n e o f th e la rge st in th e N a tio n . R e side ntial ho usek e ep ing c o n tra c ts inc re a se d 9.7 p erc e n t in v a lu a tio n , com pared with a national increase o f 15.6 percent. T he num ber o f dwell ing u n its sta rte d de clining 7.0 p erc e n t (620), to 8,272. N a tio n a lly , th e n u m b e r o f dw elling u n its s ta rte d re m a in e d a lm o s t u n c h a n g e d a t a high level. A d d itio n s a n d a lte ra tio n s to re sid e n tia l h o u se k e e p in g u n its in c re ased 29.7 p e rc e n t in v a lu a tio n versus 14.6 p e rc e n t n a tio n a lly . N o n re sid e n tia l c o n tra c ts in c re a se d 40.2 p e rc e n t in v a lu a tio n v ersus 15.8 p e rc e n t n atio n a lly . C o lo ra d o ’s in cre a se w a s o n e o f th e la rg e st in th e N a tio n . R eflec ting th e elec tric g e n e ra tin g p la n t, th e v a lu a tio n o f n o n b u ild in g c o n tra c ts d eclined 44.2 p e rc e n t v ersus a 22.2 -pe rce n t n a tio n a l incre ase. Ch a r t Ch a r t 1 5 .— Co n s t r u c t i o n C o n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : 1 4 .— C o n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n Co l o r a d o Mil li on $ I n d e x , 19 7 6 = 1 0 0 Ch a r t Pe r c e n t 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Co l o r a d o Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Co l o r a d o Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : IV 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s ......................................................................................... St a t e 19 77:1V — 19 78 :1V Pe r c e n t c h a n g e ! 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 6 3 0 ,3 3 1 6 9 0 ,0 5 3 < 8 2 ,9 12 6 9 8 ,9 3 1 14 .5 4 0 .1 16 .8 1.3 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 9 4 ,72 8 9 3 ,5 4 3 12 9 ,2 9 0 12 1,2 8 5 16 .8 3 6 .5 14 .6 2 9 .7 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................... Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s .................................................................................................................... Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) .................................................................................. Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 6 2 ,78 9 5 6 ,9 2 8 6 44 70 3 8 49 6 88 4 .4 3 1.8 - 9 .3 - 2 .1 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 5 3 5 ,6 0 3 5 9 6 ,5 10 75 3 ,6 2 2 5 77,6 4 6 14 .0 4 0 .7 1 7 .4 - 3 .2 8 8 1,4 5 3 9 71,5 9 6 16 ,6 2 0 14 ,2 8 2 2 0 ,5 9 2 16 ,13 5 10 .8 2 3 .9 10 .2 13 .0 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ Nu m b e r o f d w e l l i n g u n i t s ............................................................................... Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................ Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................. 14 ,8 2 5 14 ,19 2 23 0 227 247 243 - 5 .1 7.4 - 4 .3 4 4 5 ,772 4 4 3 ,0 75 9 ,9 18 8 ,8 9 2 11,5 2 6 8 ,2 72 1.0 16 .2 - .6 14 ,8 79 ,5 9 6 17,19 8 ,5 18 3 15 ,9 5 2 2 78 ,3 9 6 4 0 7,6 6 9 3 0 5 ,3 78 15 .3 2 9 .0 15 .6 9 .7 5 79 ,73 3 6 4 1,79 6 11,12 0 9 ,9 4 5 13 ,8 17 10 ,3 4 4 10 .3 2 4 .3 10 .7 4 .0 - 1 0 .0 - 1 4 .3 - .4 - 5 0 .0 - 7 5 .2 4 4 .8 - 7 2 .1 2 4 .7 - 7 3 .5 7.0 - 7 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ................................................................................................... 507 505 7 10 6 5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 2 4 ,13 1 2 3 ,2 6 3 5 ,9 8 3 6 ,4 9 2 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 6 15 556 18 3 14 7 - .7 - 7 0 .3 9 .4 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ................................................................................................. Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ................................................................................. 3 0 ,75 6 2 7,0 5 5 26 1 306 36 5 309 - 2 .5 3 9 .8 - 1 2 .0 1.0 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 14 5 ,9 0 1 119 ,9 5 2 2 5 3 ,9 3 7 16 8 ,19 6 2 7.6 74 .0 15 .8 4 0 .2 2 9 3 ,2 5 3 3 19 ,2 4 0 4 ,8 8 6 3 ,78 0 6 ,5 9 2 5 ,6 4 4 12 .2 3 4 .9 8 .9 4 9 .3 2 2 .4 5 8 .2 - 9 .1 - 1 8 .1 - .1 73 .4 2 2 .2 - 4 4 .2 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ............................................................................................. Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 16 ,70 1 15 ,176 14 6 16 0 23 1 13 1 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 4 9 ,6 19 174 ,8 9 9 8 6 ,0 3 3 9 7,5 8 0 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s .................................................................................................................................... Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ........................................................................ 4 ,9 8 6 4 ,0 9 9 64 47 85 32 9 .3 3 2 .8 - 1 7 .8 - 3 1 .9 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 2 7,13 2 2 5 ,4 9 4 3 0 ,74 8 5 2 ,9 14 3 .0 13 .3 - 1 6 .3 10 7.6 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n 2 . Pe r c e n t c h an ge s f o r f l o o r ar e a b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r a r ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . Sy s t e m s Co m p a n y . R e ta il S a le s R etail sales d a ta fo r C o lo ra d o a re n o t ava ilable. T A B LE 7 . — Re t a i l Sa l e s , Un i t e d St a t e s a n d Co l o r a d o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Co l o r a d o U.S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :I V 19 78 :111 M il li o n s o f do ll ar s , n ot seasonally ad jus ted 19 78 :1V Pe r c e n t c h an ge Ret a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 n .a .: Da t a n o t a va i l a b l e . St a t e 1 9 7 7 :1 V - — 1 1 .2 __ 15 .3 — 9 .2 — __ — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Co l o r a d o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Co l o r a d o U .S . St a t e U.S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : IV 19 78 :1V 19 78 :111 No t s e a s o n al l y a d j u s t e d St a t e 1 9 7 7 :1 V - Pe r c e n t c h an ge Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . 1,9 2 8 1,8 4 6 2 ,119 n .a . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 14 7 11 n .a . - 9 .5 Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 1,4 8 2 560 778 n .a . - 4 4 .2 - 4 7 .5 Ave r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 10 6 80 71 n .a . - 3 8 .4 - 3 3 .0 8 .2 9 .9 - 2 1 .4 — — — — __ — — Bu s i n e s s f a i l u r e s b y i n d u s t r y __ M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 1 0 1 n .a . - 1 0 .1 .0 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 1 1 5 n .a . 1.0 _____ W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 1 1 0 n .a . - 2 7 .1 4 0 0 .0 — _____ _____ Ret a i l t r a d e ........................................................................................................................................................................... 688 n .a . 9 2 3 n .a . - 4 .2 — 6 6 .7 _____ _____ Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 2 3 2 n .a . - 2 4 .0 .0 — — _____ n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 55 1977 :IV to 1978 :IV Personal income — U p 10.5%, 2.1 p e rc e n ta g e p o in ts less th a n in U .S. — In c rea se s in m o st m a jo r p riv a te in d u strie s less th a n in U .S. Consumer prices - U p 7 .5% in B o sto n a n d 6.2% in th e N e w Y o rk C ity -N o rth e a st N e w Jersey a re a vs. 8.9% in U .S . Employment — U p 3.1% vs. 3.9% in U .S ., to a lm o s t 1.5 m illion Unemployment — D o w n 10,000, to 72,000 — R a te d ow n to 4.7% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 16.8%, sam e as in U .S ., to $572 m illion — L a rg e gains in v a lu a tio n o f n o n re sid e n tia l a n d n o n b u ild in g c o n tra c ts — N u m b e r o f d w e lling -u nit s ta rts dow n 10.9% vs. little c h a n g e in U .S ., to 3,344 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 Co n n e c t i c u t U.S . St a t e U .S . 1 9 7 7 :l i l — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 19 7 7:1V — 19 78 :1V Pe r c e n t c h an g e To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,70 2 ,5 19 2 5 ,2 5 2 2 6 ,0 15 2 8 ,0 3 4 2 8 ,73 7 12 .4 1 1.0 12 .6 10 .5 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ..................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 15 ,4 9 6 16 ,0 4 5 17 ,4 19 17,0 0 6 1 2 .1 12 .4 12 .6 11.5 9 2 ,4 4 2 9 6 ,0 10 1,4 2 0 1,4 18 1,4 5 4 1,4 6 1 6 ,14 9 5 ,6 0 5 10 1 02 68 72 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ....................................................................................... Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 4 .1 - 9 .0 — 5 .5 6 .6 5 .5 4 .4 4 .7 6 10 ,5 0 2 n .a . 5 ,4 4 2 5 ,6 3 3 6 ,4 3 2 n .a . 16 .3 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 9 2 5 ,5 11 n .a . 0 ,2 5 5 0 ,9 0 7 0 ,9 6 7 n .a . 3 0 ,9 13 ,111 4 5 ,4 5 9 ,773 4 5 7,3 3 6 4 0 9 ,5 0 3 6 0 5 ,3 9 6 4 4 5 ,772 4 4 3 ,0 75 4 ,4 2 3 3 ,75 1 4 ,4 4 4 To t a l r e ta i l sal es (m i l l i o n s o f d o l l a r s ) ................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 1,3 6 3 1,3 0 1 B u s i n e s s f a i l u r e s ( n u m b e r ) ..........................................................................................................7 ...................... 1,6 0 4 n .a . 16 11 4 n .a . B o s t o n ........................................................................................................................................................................ 10 5 .3 — 2 0 1.0 — 10 5 .0 10 5 .3 19 4 .2 19 9 .2 — Ne w Yo r k C i t y — No r t h e a s t Ne w Je r s e y ............................................................................................... — — 10 7.0 10 0 .3 19 6 .8 2 0 0 .0 — Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ................................................................................................................ Co n s u m e r 3 .9 - 0 .8 — 6 .2 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .............................................................................................................. To t a l v a l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 2 .4 - 3 3 .0 — 3 .1 - 1 3 .0 — 10 .2 — — 11.5 0 .6 — — 5 71,9 9 5 14 .5 3 2 .4 3 ,3 4 4 1.0 .5 n .a . n .a . 10 .3 1,4 4 0 n .a . 0 .2 - 9 .5 16 .0 - .6 — 11.2 5 .6 - 7 7 .8 16 .8 - 1 0 .9 — — — — — Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a ve r a g e ......................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 7 .9 8 .9 5 .0 — 7.5 5 .2 — 6 .2 56 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se a so na lly a d ju s te d a t a n n u a l ra te s) increased 10.5 p e rc e n t from 1977:1 V to 1978:IV , 2.1 p e rc e n ta g e p o in ts less th a n in th e N a tio n (ta b le 2). A m o n g S ta te increases, C o n n e c tic u t’s in crease ra n k e d 4 3rd. In 1978:1V, th e S ta te ’s p e rso n a l in c o m e to ta le d $28.7 bil lion, for an in crease o f $2.7 billion since 1977:IV. C h a n g e s in m ost m a jo r in co m e c o m p o n e n ts w ere below th o se registered in c o rre s p o n d in g c o m p o n e n ts n a tio n a lly . C o n n e c tic u t w as th e o nly S ta te in th e N ew E n g lan d reg io n w ith a n in cre ase in to ta l p e rso n a l in c om e th a t w as well below th e n a tio n a l av erage; all S ta te s in th e a d ja c e n t M id e a st region h a d b e lo w -n a tio n a l-a v e ra g e increases. Since th e la st n a tio n a l bu sine ss cycle p e a k (1973:IV ), C o n n e c tic u t’s e c o n o m y h as g ro w n slow ly; th e in cre a se in n o n fa rm in c o m e w a s 19 p e rc e n t less th a n n a tio n a lly , ra n k in g C o n n e c tic u t 4 8 th a m o n g all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t -- 13.0 - 12.0 - 11.0 - 10.0 - 9.0 - 8.0 - 7.0 - 8.0 - 5.0 - 4.0 - 3.0 - 2.0 - 1.0 - 2ZZ 1 HD 14 .0 Un i t e d St a t e s Consumer prices from 1977:IV to 1978:IV in c re a se d 7.5 p e rc e n t in the B oston m e tro p o lita n a re a a n d 6.2 p e rc e n t in th e N e w Y o rk C ityN o rth e a s t N e w Jerse y a rea ; b o th o f the se increases w e re well b elow the n a tio n a l in cre a se o f 8.9 p e rc e n t (ta b le 3). I f th e a v e rag e p ric e in cre ase in the se a re a s — 6.8 p e rc e n t— is used as an in d ic a to r fo r p ric e m o v em en ts in th e S ta te , real to ta l p e rso n a l in c om e in C o n n e c tic u t in c re ased 3.7 p erc e n t from y e a r to yea r, th e sam e as n a tio n a lly . W age and salary disbursements (pa yrolls) in cre a se d 11.5 p erc e n t in the S ta te versus 12.6 p e rc e n t in th e N a tio n . In 1978:IV , th ey to ta le d $17.9 billion, u p $1.8 b illio n from y e a r to ye a r. In c re a se s in n e a rly all m a jo r p riv a te in d u strie s in th e S ta te w e re be low th o se re gistere d in c o rre s p o n d in g in d u strie s in th e N a tio n . M a n u fa c tu rin g p ay ro lls in c re a se d 10.8 p e rc e n t in C o n n e c tic u t a n d 13.3 p e rc e n t in th e N a tio n . M a n u fa c tu rin g p a y ro lls a c c o u n te d fo r 23.3 p e rc e n t o f to ta l p e rso n a l in com e in C o n n e c tic u t in 1978:IV versus a n a tio n a l w e ig ht o f 17.6 p erc e n t. P ay rolls in d u ra b le g o o d s m a n u fa c tu rin g inc re a se d 11.2 p e rc e n t in th e S ta te , 4.0 p e rc e n ta g e p o in ts less th a n in th e N a tio n . T h e in crease in n o n d u ra b le g o o d s m a n u fa c tu rin g w as 9.3 p e rc e n t, 0.7 p e rc e n ta g e p o in t less th a n in th e N a tio n . P riv a te service-ty pe p ay ro lls incre ased 12.7 p e rc e n t in th e S ta te versus 13.1 p e rc e n t in th e N a tio n . T h e lag w as p a rtic u la rly p ro n o u n c e d in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities. In c o n tra s t, tra d e p a y ro lls in C o n n e c tic u t inc re a se d 15.8 pe rc e n t versus 14.1 p e rc e n t in th e N a tio n . B o th F ed e ra l a n d S ta te a n d local g o v e rn m e n t p a y ro lls also in cre a se d m o re in C o n n e c tic u t th a n in th e N a tio n . S ta te u n e m p lo y m e n t in su ra n c e bene fits d ec lin ed 55.7 p erc e n t in C o n n e c tic u t— th e la rge st dec line a m o n g all S ta te s— versus a d ec line o f 30.3 p e rc e n t in th e N a tio n . Co n n e c t i c u t Ch a r t 1 1 1 1 1 i 1 1 i 1 I I i------------ 1----------- To t a l Pe r s o n a l M an u fac tu r in g Pr i v a t e Go v e r n m e n t In c o m e W a g e s a n d Sa l a r i e s Se r v i c e - t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 19 7 7 :1V — 19 78 :1V Ch a r t 3 .— To t a l Pe r s o n a l In c om e Ch a r t 4 .— I n d u s t r i a l C o m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Co n n e c t i c u t [ Se a s o n a l l y a d j u s t e d ] In d e x, 19 72 = 10 0 [ Se a s o n a l l y a d j u s t e d ] Billio n s T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Qu a r t e r , 19 78 Co n n e c t i c u t Un i t e d St a t e s St a t e U.S . U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V Pe r c e n t c h a n g e 2 M ill io ns of do ll ar s , seasonally ad ju s te d a t an nu al rate s' To t a l p e r so n al i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 5 ,2 5 2 2 6 ,0 15 2 8 ,0 3 4 2 8 ,73 7 12 .4 11.0 12 .6 10 .5 Fa r m p e r s o n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 94 96 80 79 4 7.9 - 1 4 .7 2 6 .3 - 1 7 .6 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 2 5 ,15 8 2 5 ,9 19 2 7,9 5 4 2 8 ,6 5 8 11.9 1 1 .1 12 .3 10 .6 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 5 ,2 5 2 2 6 ,0 15 2 8 ,0 3 4 2 8 ,73 7 1 2 .« 11.0 12 .6 10 .5 W a g e an d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 15 ,4 9 6 16 ,0 4 5 17 ,4 1 9 17,8 8 6 12 .1 12 .4 12 .6 11.5 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 1,5 4 0 1,6 3 0 1,8 13 1,8 5 7 17 .0 1 7 .7 16 .4 14 .0 Pr o p r i e t o r s ’ i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 1,2 3 7 1,2 6 1 1,3 3 4 1,3 75 2 1.5 7.9 18 .9 9 .1 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 34 33 15 11 6 6 .6 - 5 6 .1 3 1.3 - 6 7 .1 N o n f a r m .......................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 1,2 0 3 1,2 2 7 1,3 19 1,3 6 4 12 .8 9 .6 15 .3 11.2 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 4 ,0 8 7 4 ,19 0 4 ,5 2 6 4 ,6 4 1 12 .3 10 .8 12 .8 10 .8 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 3 ,0 0 1 3 ,0 2 0 3 ,13 5 3 ,16 3 8 .8 4 .5 8 .2 4 .7 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 28 8 247 13 1 10 9 - 2 4 .0 - 5 4 .4 3 0 .3 - 5 5 .7 Le s s : p e r s o n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 9 59 991 1,10 5 1,12 0 Pl u s : r e s i d en c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 851 862 9 12 935 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 15 ,4 9 6 16 ,0 4 5 17,4 19 17,8 8 6 12 .1 12 .4 12 .6 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 56 58 60 63 8 .5 8 .4 10 .6 8 .7 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 15 ,4 4 0 15 ,9 8 7 17,3 5 9 17,8 2 3 12 .1 12 .4 12 .6 11.5 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 35 38 35 35 2 6 .5 1.7 3 3 .9 - 6 .7 C o n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 6 18 650 73 5 76 2 19 .1 18 .9 2 0 .1 1 7 .3 M a n u f a c t u r i n g ....................................................................................................................................................... 2 76 ,112 3 12 ,9 70 5 ,75 6 6 ,0 5 4 6 ,5 76 6 ,70 9 12 .1 14 .2 13 .3 10 .8 Du r a b l e g o o d s ................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 4 ,5 0 2 4 ,77 2 5 ,18 9 5 ,3 0 8 13 .7 15 .3 15 .2 1 1 .2 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 1,2 5 4 1,2 8 2 1,3 8 7 1,4 0 1 9 .4 10 .6 10 .0 9 .3 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 6 ,8 13 7,0 16 7,6 8 3 7,9 0 3 12 .8 12 .8 13 .1 12 .7 14 .8 — 15 .2 — 15 .1 13 .0 — — 11.5 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ....................................................... 76 ,5 8 4 8 5 ,2 6 4 802 8 72 9 28 956 10 .4 15 .8 11.3 9 .6 W h o l e s a l e a n d r e ta i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 2 ,3 9 2 2 ,4 4 6 2 ,75 8 2 ,8 3 3 13 .6 15 .3 14 .1 15 .8 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 1,15 6 1 ,1 7 1 1,2 8 6 1,3 2 1 14 .1 11 .3 13 .2 1 2 .7 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 2 ,4 6 5 2 ,5 2 6 2 ,7 10 2 ,79 4 12 .6 10 .0 12 .7 10 .6 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 2 ,18 4 2 ,19 6 2 ,2 9 1 2 ,3 75 7.4 4 .9 6 .9 8 .2 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 509 5 15 5 42 5 72 7.3 6 .5 7 .1 1 1 .1 St a t e a n d l o c a l ............................................................................................................................................... 13 3 ,0 76 14 2 ,0 8 0 1,6 75 1,6 8 1 1,74 9 1,8 0 3 7.5 4 .4 6 .8 7.3 Ot h e r ............................................................................................................................................................................ 3 ,2 16 3 ,6 8 5 34 34 39 38 18 .7 14 .9 14 .6 1 1 .2 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 — Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Qu a r t e r , 19 78 * Co n n e c t i c u t Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ver a g e ’ ....................................................................................................................................... 18 5 .3 Ne w Yo r k C i t y - N o r t h e a s t Ne w Je r s e y .......................................................................................................... 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a v a i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r eas b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 19 78 :1V Pe r c e n 7.9 2 0 1.8 St a t e 1 9 7 7 :1 V - c h an g e 8 .9 18 5 .0 18 5 .3 19 4 .2 19 9 .2 5 .0 7.5 18 7.0 18 8 .3 19 6 .8 2 0 0 .0 5 .2 6 .2 N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . S T A T E Q U A R T E R L Y E C O N O M IC 58 D EVELO PM EN TS L abor Force th e only N e w E n g la n d S ta te th a t did n o t have a sh a r p dec line in th e u n e m p lo y m e n t ra te . F ro m 1977:IV to 1978:IV, C o n n e c tic u t’s civilian labor force in c re a se d 2.2 p erc e n t, 0.9 p e rc e n ta g e p o in t less th a n in th e N a tio n (ta b le 4). Total employment in c re a se d 3.1 p e rc e n t in th e S ta te, 0.8 p e rc e n ta g e p o in t less th a n n a tio n a lly , to a lm o s t 1.5 m illion. In D e c e m b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in th e S ta te w as 5.1 p e rc e n t versus 5.4 p e rc e n t a y e a r p re v io u s. D e c e m b e r 1978 ra te s in m a jo r m e tro p o lita n a re a s o f th e S ta te ra n g e d from 4.2 p erc e n t in S ta m fo rd to 5.7 p e rc e n t in W a te rb u ry . T h e ra te in H a r tf o r d — th e large st m e tro p o lita n a re a in th e S ta te — w as 4.7 p erc e n t. F ro m y e a r to year, u n e m p lo y m e n t ra te s w e re e ith e r u n c h a n g e d o r dow n so m e w h a t in each o f th e S ta te ’s six m a jo r m e tro p o lita n a re a s e xc e pt S ta m fo rd , w h e re th e ra te in c re a se d 0.4 p e rc e n ta g e p o in t. W ith th e la b o r fo rc e in c re a sin g 33,000 a n d to ta l e m p lo y m e n t in c re a sin g 4 3 ,0 0 0 , unemploym ent d e c lin e d 10,000, to 72 ,0 00 . In 197 8:IV , C o n n e c tic u t’s unemployment rate w as 4.7 p erc e n t versus 5.5 p e rc e n t in th e N a tio n . T h e S ta te ’s u n e m p lo y m e n t ra te dec line d 0.8 p e rc e n ta g e p o in t from y e a r to ye a r, a b o u t th e sa m e as n a tio n a lly . C o n n e c tic u t w as Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ch a r t 6 .— U n e m p l o y m e n t Ra t e s , 19 77:1V - 19 78 :1V Co n n e c t i c u t Pe r c e n t Milli on s 10.0 2 .0 - - Un i t e d St a t e s T A B LE 4 — La b o r Fo r c e , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Co n n e c t i c u t Qu a r t e r , 19 78 Co n n e c t i c u t Un i t e d St a t e s U .S . St a t e U.S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d ' St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e 2 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 1,2 9 2 1,3 0 6 1,3 2 9 1,3 5 6 4 .3 2 .9 4 .2 M i n i n g a n d c o n s t r u c t i o n ........................................................................................................................................... 4 .5 9 3 5 ,117 48 45 49 47 10 .4 1.9 1 1.4 5 .3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 40 3 40 6 4 12 422 3 .1 2 .1 3 .7 3 .8 3 .9 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 55 57 56 58 3 .8 1.8 4 .4 2 .3 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 2 70 28 0 2 79 28 9 5 .3 3 .2 4 .5 2 .9 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 92 92 95 96 4 .8 4 .0 - 2 .0 4 .6 Se r vi c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 24 9 247 263 26 1 4 .6 5 .5 4 .4 6 .0 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 176 179 17 7 18 3 2 .1 .4 1.4 2 .2 Ci v i l i a n l a b or f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1,5 2 1 1,5 0 0 1,5 2 2 1,5 3 3 3 .2 .0 3 .1 2 .2 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,4 2 0 1,4 18 1,4 5 4 1,4 6 1 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 10 1 82 68 72 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 6 .6 5 .5 4 .4 4 .7 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e a k i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 4 .1 - 9 .8 — 2 .4 3 .9 - 3 3 .0 - 8 .8 — — 3 .1 - 1 3 .0 — A p r il 1979 59 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e I n d e x , 19 72 = 10 0 Ch a r t 8 .— Ci v i l i a n I n d e x , 1 9 7 2 = 10 0 Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 10 .— I n d u s t r i a l C o m p o s i t i o n o f No n a g r i c u l t u r a l Co n n e c t i c u t Pe r c e n t Em p l o y m e n t M illi o n s Em p l o y m e n t : 60 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S C o m m er cia l B a n k in g D u e to ch a ng es in th e d a ta re p o rtin g p ra ctice s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o r t to in clu de th e c o m m erc ia l b a n k in g discu ssion a n d th e c o m m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is sho w n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Qu a r t e r , 19 78 Co n n e c t i c u t Un i t e d St a t e s U.S . St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 7 7: IV 19 78 :111 19 78 :1V 6 10 ,5 0 2 n .a . 5 ,4 4 2 5 ,6 3 3 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 M i l l i o n s o f d o l l a r s , n o t sea s o n a l l y a d j u s t e d 1 To t a l l o a n s ....................................................................................................................................................... St a t e 19 7 7:1V — 1 9 7 7 :1 1 1 - 6 ,4 3 2 n .i . 16 .3 18 .2 — — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,6 8 9 1,6 74 1,9 4 6 n .a . 14 .2 15 .2 — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 1,5 11 1,6 0 2 1,76 3 n .a . 2 0 .2 16 .6 — — Real e s t at e ............................................................................................................................................................................. 177,9 3 5 n .a . 1,9 4 8 2 ,0 19 2 ,3 70 n .a . 19 .9 2 1 .7 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,2 9 2 1,3 3 8 1,5 5 7 n .a . 2 1.3 2 0 .5 — — Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 2 2 3 n .a . 10 .7 6 6 .9 — — — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 654 6 79 8 11 n .a . 19 .0 2 4 .0 Fa r m s , e xc l u d i n g real e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 8 17 9 n .a . 6 .8 19 .9 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 287 320 344 n .a . 8 .0 2 0 .1 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 1,2 5 5 1,9 6 7 8 ,9 6 7 n .a . 11.5 8 .6 De m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 3 ,5 6 3 4 ,19 3 3 ,73 4 n .a . 10 .2 4 .8 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 4 ,6 9 2 4 ,79 5 5 ,2 3 3 n .a . 12 .3 1 1.5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — — — — — — — — — — C o n str u c tio n F ro m 1977:IV to 1978:IV, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts inc re a se d 16.8 p e rc e n t in b o th th e S ta te a n d N a tio n (ta b le 6). In 1978:1 V, c o n tra c ts in th e S ta te to ta le d $572 m illion, fo r a g a in ov er th e y ea r o f $83 m illion. M o re th a n o n e - h a lf o f C o n n e c tic u t’s ga in in th e to ta l v a lu a tio n o f c o n tra c ts w as tra c e a b le to a $48 m illion c o n tra c t in 1978:1 V fo r a c om m e rc ia l w a re h o u se in H a rtfo rd . I f this w a re h o u se is exclude d, th e to ta l v a lu a tio n in th e S ta te w ou ld h ave in c re a se d only 7 p ercent. C o n s tru c tio n c osts n a tio n a lly in c rea se d a b o u t 13 p erc e n t; if th is in crease is re p re se n ta tiv e o f c o st ch a ng es in C o n n e c tic u t, th e re a l v a lu a tio n o f c o n s tru c tio n c o n tra c ts (in clu din g th e w a re ho use) w o u ld h a ve increased a b o u t 4 p erc e n t, th e sam e as n a tio n a lly . T h e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts , large ly re flec tin g th e w a re ho u se , in c re ased 38.5 p erc e n t in th e S ta te versus 15.8 p e rc e n t in th e N a tio n . C o n n e c tic u t’s g ain ra n k e d tw elfth a m o n g all S ta te gains. T he g ain in th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts in C o n n e c tic u t ac c o u n te d for n ea rly tw o -th ird s o f th e d o lla r gain in th e to ta l v a lu a tio n o f c o n tra c ts in th e S tate. T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts in c re ased 30.6 p e rc e n t in C o n n e c tic u t versus 22.2 p e rc e n t in th e N a tio n . P a rtly a c c o u n tin g fo r th is gain w as an in cre a se o f 122.1 p e rc e n t in th e v a lu a tio n o f stree t a n d highw ay c o n tra c ts v ersu s a d ec line o f 16.3 p e rc e n t in th e N a tio n . T h e re side ntia l c o n s tru c tio n m a rk e t w a s w eak in C o n n e c tic u t. C o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e ntia l h o use k e e p in g u nits declined slightly in th e S ta te , in s h a r p c o n tra s t w ith a g a in o f 14.6 p e rc e n t in th e N a tio n . C o n n e c tic u t w as o n e o f o nly five S ta tes w ith a decline; C o n n e c tic u t’s dec line w a s exceeded only in P e nn sylv an ia. T h e v a lu a tio n o f re side n tia l h ou se k e e p in g c o n tra c ts in c re ased o nly 2.6 p erc e n t in C o n n e c tic u t v ersu s 15.6 p e rc e n t in th e N a tio n . T h e n u m b e r o f dw elling u n its s ta rte d declined 10.9 p e rc e n t (407 u n its), to 3,344 u n its. O nly nin e S ta tes h a d declines la rg e r th a n C o n n e c tic u t’s. In c o n tra s t, in th e N a tio n , th e n u m b e r o f dw elling u n its s ta rte d w a s v irtu a lly u nc h a n g e d a t a high level. Ch a r t Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n Co n n e c t i c u t I n d e x . 19 7 6 = 1 0 0 Bil l io n $ Ch a r t Pe r c e n t 15 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V T A B LE 6 — Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Co n n e c t i c u t Un i t e d St a t e s 19 77:I V 19 78 :1V 19 7 7:I V 19 77:111 19 78 :111 U .S . St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. U .S . 19 77:111— Pe r c e n t c h a n g e 2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 4 5 7,3 3 6 4 8 9 ,5 8 3 6 0 5 ,3 9 6 5 71,9 9 5 14 .5 3 2 .4 16 .8 16 .8 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 13 2 ,17 7 119 ,115 15 5 ,4 3 9 117,6 8 9 16 .8 17.6 14 .6 - 1 .2 - 2 6 .8 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ Al l ot he r c ont rac ts: Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 6 2 ,78 9 5 6 ,9 2 8 46 8 594 5 43 43 5 4 .4 16 .0 - 9 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 3 2 5 ,15 9 3 70 ,4 6 8 4 4 9 ,9 5 7 4 5 4 ,3 0 6 14 .0 3 8 .4 17 .4 2 2 .6 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 8 ,9 0 0 8 ,2 9 3 9 ,72 5 10 ,0 5 7 10 .8 9 .3 10 .2 2 1.3 Re s i d e n t i a l housekeepi ng: Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 74 72 63 61 - 5 .1 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 4 ,4 2 3 3 ,75 1 4 ,4 4 4 3 ,3 4 4 1.0 .5 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 170 ,5 4 5 14 3 ,2 6 9 18 3 ,5 73 14 6 ,9 4 8 15 .3 7.6 15 .6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 5 ,76 6 4 ,8 3 5 5 ,76 6 4 ,70 1 10 .3 .0 10 .7 - 1 0 .0 - 1 4 .9 - 4 .3 - 1 5 .3 - .6 - 1 0 .9 2 .6 - 2 .8 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 50 7 505 0 4 2 3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 0 2 ,19 5 595 2 ,2 5 0 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 0 47 20 39 - .7 9 .4 — - .4 — 4 4 .8 2 .5 — 2 4 .7 — 16 .7 - 2 5 .0 No n r e s i d e n t i a l : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 22 2 3 10 223 2 15 - 2 .5 .5 - 1 2 .0 - 3 0 .6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 116 ,6 9 1 14 1,3 9 7 19 5 ,8 2 4 19 5 ,8 8 8 2 7.6 6 7.8 15 .8 3 8 .5 Fl o o r a r ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 3 ,13 4 3 ,4 12 3 ,9 3 8 5 ,3 17 12 .2 2 5 .7 8 .9 5 5 .8 No n b u i l d i n g : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,17 6 172 20 8 25 5 15 6 2 2 .4 4 8 .3 - 9 .1 - 2 5 .0 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 3 7,9 2 3 8 3 ,6 0 7 6 9 ,9 6 5 10 9 ,2 2 0 - .1 8 4 .5 2 2 .2 3 0 .6 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 40 52 48 27 9 .3 2 0 .0 - 1 7 .8 - 4 8 .1 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 4 ,9 0 6 8 ,5 75 10 ,0 8 0 19 ,0 4 9 3 .0 10 5 .5 - 1 6 .3 12 2 .1 St a t e U .S . 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an g es f o r f l o o r a r ea b ase d o n u n r o u n d e d N O T E.— De t a i l da ta. f o r f l o o r a r ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . R e ta il S a le s R e ta il sales d a ta fo r C o n n e c tic u t a re n o t availa ble. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Qu a r t e r , 19 7S Co n n e c t i c u t Un i t e d St a t e s U.S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : I V 19 78 :111 M i l l i o n s o f d o l l a r s , n o t s e a s o n a l l y a d j u st e d Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . 19 78 :1V Pe r c e n t n .a . n .a . St a t e 1 9 7 7 :1 V - h an g e 10 .3 — 1 1.2 — 15 .3 — 9 .2 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — -t n .a .: Da t a n o t a va i l a b l e . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Co n n e c t i c u t Th r o u g h Fo u r t h Qu a r t e r , 19 78 Co n n e c t i c u t Un i t e d St a t e s U .S . St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :1V St a t e 19 7 : 1 V - 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h an g e No t seaso nally adjusted — — Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . 1,3 6 3 1,3 0 1 1,4 4 0 n .a . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 18 11 4 n .a . - 9 .5 - 7 7 .8 — — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 4 ,5 10 1,5 9 6 359 n .a . - 4 4 .2 - 9 2 .0 — — Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 25 1 14 5 90 n .a . - 3 8 .4 - 6 4 .1 — — — — — — — — — — 5 .6 8 .2 Bu s i n e s s fa i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 0 4 1 n .a . - 1 0 .1 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 6 0 0 n .a . 1.0 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 2 2 1 n .a . - 2 7 .1 - 5 0 .0 Re t a i l t r a d e ............................................................ .............................................................................................................. 6 88 n .a . 9 5 2 n .a . - 4 .2 - 7 7 .8 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 1 0 0 n .a . - 2 4 .0 — — — — — n .a .: Da t a n o t a v a i l a b l e . So u r c e : Du n 8 Br a d s t r e e t, Inc . N O T E.— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . D ELA W A R E H ig h lig h ts l___________ 1977 :IV to 1978 :IV Personal income — U p 11.6% vs. 12.6% in U .S ., to $5.2 billion — M a n u fa c tu rin g p ay ro lls up 6.8% vs. 13.3% in U .S. — Services p a y ro lls up 21.3% vs. 12.7% in U .S. Consumer prices — U p 6.4% in B a ltim o re a n d 7.2% in P h ila d e lp h ia vs. 8.9% in U .S . Employment — U p 2.4% vs. 3.9% in U .S ., to 259,000 Unemployment — D o w n 2,000, to 18,000 — R a te d ow n 0.8 p e rc e n ta g e p o in t, to 6.5% o f la b o r fo rc e vs. 5.5% in U .S. Construction — T o ta l v a lu a tio n o f c o n tra c ts up 11.8% vs. 16.8% in U .S ., to $112 m illion — V a lu a tio n o f n o n re s id e n tia l c o n tra c ts d ow n 11.3% vs. 15.8% g ain in U .S ., to $33 m illion — N u m b e r o f d w e llin g-u nit sta rts up 7.4% vs. n e a r sta b ility in U .S., to 1,013 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 De l a w a r e Un i t e d St a t e s U .S . St a t e U .S . 19 77:11 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 : II Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an g e To t a l p e r s o n a l I n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 4 ,5 5 9 4 ,6 6 2 5 ,0 8 5 5 ,2 0 3 12 .4 11.5 12 .6 11.6 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,0 8 5 3 ,12 8 3 ,4 18 3 ,4 8 3 12 .1 10 .8 12 .6 1 1.4 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ....................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 25 3 253 25 7 25 9 4 .1 1.6 3 .9 2 .4 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 21 20 23 18 10 .0 - 8 .8 - 8 .8 - 9 .8 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 7 .7 7.3 8 .3 6 .5 — — To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 1,2 4 4 1,3 0 2 1,4 4 9 n .a . — 16 .3 — 16 .5 — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 11 n .a . 2 ,3 2 9 2 ,4 2 8 2 ,5 6 9 n .a . 1 1.5 10 .3 — To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 9 8 ,0 6 0 10 0 ,3 4 2 18 3 ,10 3 112 ,19 5 14 .5 8 6 .7 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ......................................................................................................................... 4 4 5 ,77 2 4 4 3 ,0 75 8 78 945 1,13 4 1,0 13 1.0 2 9 .2 - .6 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 3 ,6 5 9 3 ,72 6 4 ,19 7 n .a . B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 4 3 1 n .a . B a l t i m o r e ................................................................................................................................................................... 18 5 .3 — 2 0 1.8 — Ph i l a d e l p h i a ............................................................................................................................................................. — — — 8 .2 - 9 .5 — 1 1 .2 1 4 .7 - 7 5 .0 11.8 7 .2 — — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . — — — — 18 8 .8 19 0 .7 2 0 2 .6 2 0 3 .0 18 5 .4 18 7 .1 19 7.2 2 0 0 .6 7.9 — — — 8 .9 — 7.3 — 6 .4 6 .4 — 7 .2 S T A T E Q U A R T E R L Y E C O N O M IC 64 DEVELO PM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se a so n a lly a d ju ste d a t a n n u a l ra te s) in D e la w are inc re a se d 11.6 p e rc e n t from 1977:1 V to 1978:IV, lagging th e N a tio n ’s g a in by 1.0 p e rc e n ta g e p o in t (ta b le 2). In 1978:IV, D e la w a re 's p e rso n a l in co m e to ta le d $5.2 b illio n, up $500 m illion from 1977:IV. D u rin g this tim e s p a n , consumer prices in c re a se d 7.2 p e rc e n t in th e P h ila d e lp h ia m e tro p o lita n a re a a n d 6.4 p e rc e n t in th e B altim ore a rea ; b o th increases w ere less th a n th e 8 .9 -p e rc e n t n a tio n a l in crease (ta b le 3). I f th e ave rag e o f th e tw o a re a increases is used as an in d ic a to r fo r p rice incre ases th ro u g h o u t th e S ta te, re al to ta l p e rso n a l in co m e in D e la w a re inc re a se d 4.8 p e rc e n t v ersu s 3.7 p e rc e n t n a tio n a lly . S ince th e la st n a tio n a l b u sin ess cycle p e a k in 1973:1 V, D e la w a re ’s e c o n om y h a s g ro w n a t a slow er p a c e th a n th e N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in c o m e w as 17 p e rc e n t less th a n n a tio n a lly . O nly N e w Y o rk , N e w Jerse y, a n d C o n n e c tic u t re gistered low er ra te s o f gain. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V - 1 9 7 8 :1 V [ Se a s o n a l l y a d j u s t e d ] W age and salary disbursements (pa y ro lls) in D e la w are inc re a se d 11.4 p e rc e n t from 1977:IV to 1978:IV, m arg in a lly lagging th e N a tio n ’s 12.6p e rc e n t gain. B o th c o m p o n e n ts o f m a n u fa c tu rin g p a y ro lls re gistered ga ins th a t lagged n a tio n a l c o u n te rp a rts : n o n d u ra b le s p a y ro lls increased 8.1 p e rc e n t, c o m p a re d w ith 10.0 p e rc e n t n a tio n a lly , a n d d u ra b le s p a y rolls in c re ased 2.7 p e rc e n t, c o m p a re d w ith 15.2 p e rc e n t n a tio n a lly . T he ga in in d u ra b le s p a y ro lls— th e sm allest ga in a m o n g D e la w a re ’s m a jo r in d u strie s — ra n k e d 4 8 th a m on g all S tates. C o n s tru c tio n p ay ro lls inc re a se d 19.5 p erc e n t, lagging th e N a tio n ’s g ain o f 20.1 p e rc e n t, to $230 m illion. F e d e ra l G o v e rn m e n t p a y ro lls inc re a se d 6.5 p erc e n t, 0.6 p e rc e n ta g e p o in t be low th e n a tio n a l ave rage gain. S ta te a n d local g o v e rn m e n t p a y ro lls inc re a se d 7.2 p erc e n t, lea din g the N a tio n ’s gain o f 6.8 p erc e n t, to $409 m illion. M o st o f th e S ta te ’s p riv a te service-type in d u strie s re gistere d la rg e p a y ro ll gains. Services p a yro lls inc re a se d 21.3 p erc e n t, a ra te o f ga in exceeded only in W y o m in g , to $486 m illion. T ra d e p a y ro lls also in c re ased a t o n e o f th e h ig h e st ra te s in th e N a tio n . T ra n sp o r ta tio n -c o m m u n ic a tio n -p u b lic u tilitie s p a yro lls inc re a se d 11.3 p e rc e n t, th e sam e as n a tio n a lly , to $192 m illion. S ta te u n e m p lo y m e n t in su ra n c e b en efits dec line d by a lm o s t o n e -h a lf— from $49 m illion in 1977:IV to $27 m illion in 1978:IV. N a tio n a lly , u n e m p lo y m e n t in su ra n c e bene fits dec line d 30.3 p e rce nt. P e rce n t Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V - 1 9 7 8 :1 V P e rce n t | T otal P erson al M a n u fa c tu rin g In co m e Wages and S a laries P riva te G ove rn m e nt S e rv ic e -typ e Wages a nd S a laries Wages a nd S alaries 1 U n ited S ta tes ^ P h ilad e lp h ia ^ B a ltim o r e Ch a r t 3 .— To t a l Pe r s o n a l I n c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : De l a w a r e [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] Ind e x , 1 9 7 2 = 1 0 0 B il li o n s T f t B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 De l a w a r e Un i t e d St a t e s 19 78 :1V 19 77:1V 19 77:111 19 77:1V 19 78 :111 US. St a t e U .S . St a t e 19 77:111 — 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 : IV Pe r c e n t c h a n g e 2 1 M i l l i o n s o f d o l l a r s , s e a s o n al l y a d j u s t e d a t a n n u a l r a t e s 1 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 4 ,5 5 9 4 ,6 6 2 5 ,0 8 5 5 ,2 0 3 12 .4 11.5 12 .6 11.6 Fa r m p e r s o n a l i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 58 70 10 7 12 4 4 7.9 8 5 .3 2 6 .3 7 7 .5 10 .6 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 4 ,5 0 2 4 ,5 9 2 4 ,9 77 5 ,0 78 11.9 10 .6 12 .3 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 4 ,5 5 9 4 ,6 6 2 5 ,0 8 5 5 ,2 0 3 12 .4 11.5 12 .6 11.6 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,0 8 5 3 ,12 8 3 ,4 18 3 ,4 8 3 12 .1 10 .8 12 .6 11.4 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 3 19 322 359 36 2 17.0 1 2 .7 16 .4 12 .3 Pr o p r i e t o r s ' i n c o m e ...................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 2 10 224 2 77 29 8 2 1.5 3 1.8 18 .9 3 3 .0 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 45 57 94 111 6 6 .6 10 6 .4 3 1.3 9 3 .6 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 16 5 16 7 18 3 18 8 12 .8 1 1 .2 15 .3 12 .3 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 75 1 770 830 852 12 .3 10 .6 12 .8 10 .6 Tr a n s f e r p a y m e n t s .......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 5 25 545 569 5 76 8 .8 8 .4 8 .2 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 39 49 29 27 - 2 4 .0 - 2 7 .4 - 3 0 .3 - 4 5 .9 Le s s : p e r so n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 18 6 18 6 2 10 2 10 12 .4 Pl u s : r e s i d en c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 -14 4 -14 2 -15 9 -15 8 15 .1 — — W a g e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,0 8 5 3 ,12 8 3 ,4 18 3 ,4 8 3 12 .1 10 .8 12 .6 Fa r m ..................................................................................................................................................................................... 7 ,17 6 7,9 3 9 12 13 13 13 8 .5 8 .0 10 .6 6 .7 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 3 ,0 73 3 ,115 3 ,4 0 5 3 ,4 6 9 12 .1 10 .8 12 .6 1 1.4 14 .8 — — 5 .7 13 .3 1 1.4 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 5 9 4 4 2 6 .5 - 5 .1 3 3 .9 - 5 4 .1 Co n s t r u c t i o n ............................................................................................................................................................ 5 5 ,6 4 8 6 6 ,8 5 8 19 0 19 3 23 5 23 0 19 .1 2 3 .4 2 0 .1 19 .5 M a n u f a c t u r i n g ........................................................................................................................................................ 2 76 ,112 3 12 ,9 70 1,2 4 5 1,2 3 7 1,3 16 1,3 2 1 12 .1 5 .8 13 .3 Du r a b l e g o o d s .................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 D D 13 .7 - 15 .2 6 .8 - D D No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 D D D D 9 .4 - 10 .0 - Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 D D D D 12 .8 - 13 .1 — Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 177 173 18 9 19 2 10 .4 7.2 11.3 11.3 W h o l e s a l e a n d r e t a i l t r a d e ..................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 426 428 488 5 15 13 .6 14 .7 14 .1 2 0 .3 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ........................................................................... ................... 5 4 ,4 5 2 6 1,6 5 3 12 9 13 1 13 8 13 9 14 .1 7 .1 13 .2 5 .7 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 39 5 40 1 4 73 486 12 .6 19 .6 1 2 .7 2 1.3 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 5 02 537 554 5 75 7.4 10 .4 6 .9 7.0 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 14 9 15 5 16 1 16 5 7.3 8 .3 7 .1 6 .5 St a t e a n d l o c a l ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 353 382 393 40 9 7.5 1 1.4 6 .8 7.2 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 D D D D 18 .7 1. De t a i l m a y n o t a d d t o t o t a l s b e c au s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d - - 14 .6 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , B u r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t da ta. Di v i s i o n . T f t B LE 3 — Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 ' Un i t e d St a t e s De l a w a r e U .S . St a t e 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 18 5 .3 St a t e 19 7 7:1V — 19 78 :111 I n d e x, i y i j / = 1U U , n ot season al l y adj u s ted U .S . c i t y a ve r a g e 2 ........................................................................................................................................ U .S . 19 78 :1V Pe r c e n t c h an g e 2 0 1.8 7.9 8 .9 B a l t i m o r e .............................................................................................................................................................................. 18 8 .8 19 0 .7 2 0 2 .6 2 0 3 .0 7.3 6 .4 Ph i l a d e l p h i a ......................................................................................................................................................................... 18 5 .4 18 7 .1 19 7 .2 2 0 0 .6 6 .4 7 .2 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e as b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . N O T E.— Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 7 8 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . S TA TE Q U A R T E R L Y E C O N O M IC 66 DEVELO PM EN TS L abor F orce unemployment rate dec line d 0.8 p e rc e n ta g e p o in t, to 6.5 p erc e n t o f th e la b o r force. D e la w a re ’s u n e m p lo y m e n t ra te w as a b o u t 1 p e rc e n ta g e a bo v e th e N a tio n ’s ra te in b o th 1977:1 V a n d 1978:1 V. F ro m 1977:1 V to 1978:1 V, D e la w a re ’s civilian labor force inc re a se d 1.6 p e rc e n t, a b o u t o n e -h a lf o f th e N a tio n ’s ave rag e ad va n ce (ta b le 4). Total employment in c re ased from 253,000 to 259,000, a 2 .4 -p erc en t a dv a n c e th a t lag ged th e n a tio n a l a d v a n c e o f 3.9 p ercen t. A c c o rd in g to p re lim in a ry d a ta fo r D e c em b er 1978, th e u n e m p lo y m e n t ra te in th e W ilm in gto n m e tro p o lita n a rea w as 5.9 p erc e n t, c o m p a re d w ith a 6.4-pe rc e nt ra te statew ide . W ith e m p lo y m e n t in cre asing by 6,000 a n d th e la b o r force increasing by o nly 4,000, th e n u m b e r o f unemployed declined by 2,000. T h e Ch a r t Ch a r t 5 — La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : De l a w a r e 6 .— U n e m p l o y m e n t Ra t e s , 19 77:1V — 19 78 :1V Pe r c e n t 19 77:1V 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 De l a w a r e Un i t e d St a t e s U.S . St a t e U.S . 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 Th o u s a n d s o f p e r s o n s , n o t s a s o n a l l y a d j u s t e d 1 St a t e 19 7 7:1V — 19 77:111— Pe r c e n t c h an ge 2 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 243 244 25 2 255 M i n i n g a n d s e r v i c e s ....................................................................................................................................................... 16 ,3 2 6 1 7 ,1 1 4 41 40 44 43 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 16 15 17 16 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 69 3 .9 4 .3 — 4 .2 4 .6 5 .1 11.3 3 .3 5 .3 10 .4 — 7.5 69 70 70 3 .1 1.2 3 .7 .9 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 12 12 13 13 3 .8 4 .1 4 .4 8 .3 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 54 54 4 .5 6 .7 55 58 5 .3 1.7 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 11 11 12 11 4 .8 4 .5 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 39 42 43 44 2 .1 9 .5 - 2 .0 5 .6 1.4 4 .5 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 2 74 2 73 28 0 2 77 3 .2 2 .3 3 .1 1.6 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 25 3 25 3 257 25 9 4 .1 1.6 3 .9 2 .4 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 21 20 23 18 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 7 .7 7.3 8 .3 6 .5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r ea t es a b r e ak in t h e s e r i e s , a n d u se r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . - 9 .8 — 10 .0 — - 8 .8 — - 8 .8 — A p r il 1979 67 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e Ch a r t 8 .— Ci v i l i a n Em p l o y m e n t I n d e x . 19 72 = 10 0 Ch a r t Pe r c e n t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : De l a w a r e Th o u s a n d s 68 S TA TE Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS C o m m er cia l B a n k in g D ue to c ha nges in th e d a ta re p o rtin g p ra ctice s o f th e F ed e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu de th e c om m e rc ia l b a n k in g discu ssion a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 De l a w a r e Un i t e d St a t e s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 : IV To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... Real e s t a t e ............................................................................................................................................................................ Re s i d e n t i a l ....................................................................................................................................................................... n .a . 1,2 4 4 1,3 0 2 19 78 :1V 19 78 :111 M i l l i o n s o f d o l l a r s , n o t sec s o n a l l y a d j u s t e d * St a t e 1 9 7 7 :1 V - Pe r c e n t c h an g e2 1,4 4 9 n .a . 19 6 20 7 14 0 ,5 9 9 n .a . 4 15 422 177,9 3 5 n .a . 563 586 10 1,2 3 6 n .a . 3 75 396 45 3 2 19 n .a . 16 .3 16 .5 n .a . 14 .2 4 78 n .a . 2 0 .2 15 .3 658 n .a . 19 .9 17.0 n .a . 2 1.3 2 0 .8 12 .0 __ ---- __ — — — — -------- - — — — Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 15 16 19 n .a . 10 .7 2 3 .6 — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 173 174 18 7 n .a . 19 .0 8 .1 — _____ Fa r m s , e x c l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 12 13 12 n .a . 6 .8 2 .2 __ _____ Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 58 75 81 n .a . 8 .0 3 8 .9 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 2 ,3 2 9 2 ,4 2 8 2 ,5 6 9 n .a . 1 1.5 D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 853 9 85 936 n .a . 10 .2 9 .7 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 1,4 76 1,4 4 3 1,6 3 4 n .a . 12 .3 10 .7 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . 10 .3 — — — — __ __ — — A p r il 1979 69 C o n str u c tio n F ro m 1977:1V to 1978:IV, th e to ta l v a lu a tio n o f c o n tra c ts in D e la w a re ro se 11.8 p e rc e n t, lag ging th e N a tio n ’s ga in by 5 p e rc e n ta g e p o in ts, to $112.2 m illion (ta b le 6). N a tio n a l c o n stru c tio n co sts ro se a b o u t 13 p e rc e n t d u rin g th e sam e tim e s p a n ; if th is rise reflects th e a d v a n c e th ro u g h o u t D e la w a re , th e re al to ta l v a lu a tio n o f c o n tra c ts in th e S ta te dec line d m argin a lly versus a rise o f a b o u t 4 p e rc e n t n atio n ally . T h e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts dec line d 11.3 pe rc e n t from y e a r to y ea r, c o m p a re d w ith a 15.8-percent ga in n a tio n a lly . L a rg e c o n tra c ts in N e w C a s tle C o u n ty a ffec te d th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts in b o th 1977:IV a n d 1978:IV. In 1977:1V, th e v a lu a tio n to ta le d $36.9 m illion, in clu d in g $20 m illio n fo r th e c o n s tru c tio n o f a sh o p p in g ce n te r. In 1978:IV, th e v a lu a tio n to ta le d $32.7 m illion , in clu d in g $12 m illion fo r th e c o n s tru c tio n o f a n office b uilding . I f b o th c o n tra c ts a re e xc lu de d, th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts in D e la w a re w ou ld h a ve in c re a se d 22.6 p e rce nt. Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x , 19 76 = 10 0 T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts rose 30.8 p e rc e n t v ersus th e N a tio n ’s 22.2-pe rc e nt g ain , to $22.3 m illion. D e la w a re ’s g a in w as p a rtly d u e to a $12 m illion ro a d w a y c o n tra c t -n N e w C a stle C o u n ty in 1978:1V. R eflec ting th e ro a d w a y c o n tra c t, th e v a lu a tio n o f stre e t a n d h ighw a y c o n tra c ts rose n e a rly seve nfold. D e la w a re ’s g ain w a s exceeded o n ly by S o u th D a k o ta ’s. N a tio n a lly , th e v a lu a tio n o f stre e t a n d high w ay c o n tra c ts declined 16.3 p e rce nt. Ch a r t M illio n s Ch a r t Pe r c e n t T h e v a lu a tio n o f all o th e r type s o f c o n s tru c tio n c o n tra c ts in D e la w a re inc re a se d a t ra te s th a t exceeded th o se o f n a tio n a l c o u n te rp a rts . R e side ntia l h ou se k e e p in g c o n tra c ts rose 16.7 p e rc e n t in v a lu a tio n , c o m p a rin g fa v o ra b ly w ith th e N a tio n ’s 15.6-percent g ain . T h e n u m b e r o f dw elling u nits s ta rte d rose 7.2 p erc e n t, to 1,013 u n its. N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w as a lm o s t u n c h a n g e d a t a high level. T h e v a lu a tio n o f c o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e ntia l h ou sek e e p in g u nits ro se 24.5 p erc e n t, a lm o s t 10 p e rc e n ta g e p o in ts a bo v e th e n a tio n a l ave rag e , to $22.2 m illion. 1 6 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d 15 .— Co n s t r u c t i o n Co n t r a c t s — Va l u a t i o n o f Co n t r a c t s b y Ty p e : De l a w a r e Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 De l a w a r e Un i t e d St a t e s St a t e U.S . U .S . 1 9 7 7 :1 1 1 1 9 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l v a l u a t i o n o f c o n t r a c t s ......................................... St a t e 19 7 7:1V — Pe r c e n t c h a n g e ’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 9 8 ,0 6 0 10 0 ,3 4 2 18 3 ,10 3 112 ,19 5 14 .5 8 6 .7 16 .8 11.8 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 19 ,6 3 2 17,8 2 4 2 3 ,5 77 2 2 ,18 7 16 .8 2 0 .1 14 .6 2 4 .5 - 8 .2 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ....................................... Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s .................................................................. 6 2 ,78 9 5 6 ,9 2 8 16 7 170 2 15 15 6 4 .4 2 8 .7 - 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ....................................... 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 78 ,4 2 8 8 2 ,5 18 15 9 ,5 2 6 9 0 ,0 0 8 14 .0 10 3 .4 17 .4 9 .1 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ......................... 8 8 1,4 5 3 9 71,5 9 6 2 ,4 5 4 2 ,3 9 4 2 ,0 12 1,9 6 9 10 .8 - 1 8 .0 10 .2 - 1 7 .7 - 1 7 .6 Re s i d e n t i a l h o u s e k e e p i n g : 14 ,8 2 5 14 ,19 2 17 18 14 14 - 5 .1 Nu m b e r o f d w e l l i n g u n i t s ....................................................... 4 4 5 ,772 4 4 3 ,0 75 8 78 945 1,13 4 1,0 13 1 .0 2 9 .2 - .6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ....................................... 14 ,8 79 ,5 9 6 17,19 8 ,5 18 2 6 ,3 0 0 2 8 ,6 2 7 3 4 ,3 8 0 3 3 ,4 10 15 .3 3 0 .7 15 .6 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ......................... 5 79 ,73 3 6 4 1,79 6 952 1,0 4 7 1,2 3 9 1 ,1 1 4 10 .3 3 0 .1 10 .7 CNJ Osi OsJ 1 Nu m b e r o f c o n t r a c t s .................................................................. - 4 .3 7.2 16 .7 6 .4 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s .................................................................. 507 505 1 0 3 6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ....................................... 3 3 8 ,6 3 7 4 9 0 ,2 79 58 0 1,13 0 1,6 4 0 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ......................... 8 ,4 6 7 10 ,5 6 0 0 0 28 2 0 0 .0 - 1 0 .0 *** 9 .4 58 - .7 — ________ - .4 4 4 .8 — 2 4 .7 — No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s .................................................................. 3 0 ,75 6 2 7,0 5 5 112 98 12 4 88 - 2 .5 10 .7 - 1 2 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ....................................... 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 4 5 ,6 79 3 6 ,8 6 2 112 ,0 8 2 3 2 ,6 79 2 7.6 14 5 .4 15 .8 - 1 1 .3 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ......................... 2 9 3 ,2 5 3 3 19 ,2 4 0 1,5 0 3 1,3 4 7 74 5 79 7 12 .2 - 5 0 .4 8 .9 - 4 0 .8 2 2 .4 10 0 .0 - 9 .1 - 1 1 .1 8 6 .7 2 2 .2 3 0 .8 - 1 0 .2 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s .................................................................. 16 ,70 1 15 ,176 37 54 74 48 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ....................................... 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 6 ,3 9 1 17,0 2 9 11,9 3 4 2 2 ,2 79 - .1 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s .................................................................. 4 ,9 8 6 4 ,0 9 9 22 15 27 20 9 .3 2 2 .7 - 1 7 .8 3 3 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ....................................... 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 5 ,5 4 8 2 ,8 2 3 7,0 0 8 18 ,9 6 1 3 .0 2 6 .3 - 1 6 .3 5 7 1.7 ***P e r c e n t c h a n g e g r e a t e r t h a n 9 9 9 .9 . 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 6 0 d a ys . N O T E.— De t a i l f o r f l o o r a r ea d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Pe r c e n t c h a n g e s f o r f l o o r ar ea b a se d o n u n r o u n d e d d a t a . R e ta il S a le s R e ta il sales d a ta fo r D e la w a re a re n o t a va ilab le . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d De l a w a r e Th r o u g h Fo u r t h Qu a r t e r , 19 78 De l a w a r e Un i t e d St a te s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M ill io ns of do ll ar s , not seaso nally adjus ted Re t a i l s a l e s ............................................................................................... 19 7,0 3 0 n .a . 2 19 ,0 2 0 St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e n .a. n .a. n .a. 10 .3 — 11.2 -------- — 15 .3 ---------- 9 .2 ---------- Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 No n d u r a b l e g o o d s ............................................................................................. ...................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 So u r c e : U.S. De p a r t m e n t o f Co m m e r c e , iB u r e a u o f Ce n s u s . n .a .: Da t a n o t a v a i l a b l e . T A B L E 8 .- - B u s i n e s s In c o r p o r a tio n s and Fa i l u r e s , U n i t e d St a t e s and De l a w a r e Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 St a t e U .S . De l a w a r e 19 77:1V 19 78 :I V 19 77:111 19 77:I V 19 78 :111 19 78 :I V U .S . St a t e 1 9 7 7 :1 V - 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h an g e No t s e a s o n a l l y a d j u s t e d 14 .7 --------- --------- --------- ---------- ---------- ---------- --------- --------- Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................... ....................................................... 10 9 ,4 11 n .a . 3 ,6 5 9 3 ,72 6 4 ,19 7 n .a . 8 .2 To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................... ....................................................... 1.6 8 4 n .a . 4 3 1 n .a . - 9 .5 - 7 5 .0 Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ....................................... ............................................................ 4 8 4 ,2 9 6 n .a . 394 853 26 n .a . - 4 4 .2 - 9 3 .4 Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) ................ ............................................................ 28 8 n .a . 99 28 4 26 n .a . - 3 8 .4 - 7 3 .7 M i n i n g a n d m a n u f a c t u r i n g ........................................................................ ............................................................ 248 n .a . 0 0 0 n .a . - 1 0 .1 — --------- --------- C o n s t r u c t i o n ......................................................................................................... ............................................................ 3 19 n .a . 1 2 0 n .a . 1.0 — --------- --------- W h o l e s a l e t r a d e ................................................................................................... ............................................................ 19 1 n .a . 0 0 0 n .a . - 2 7 .1 — --------- --------- Re t a i l t r a d e ............................................................................................................. ............................................................ 688 n .a . 3 1 1 n .a . - 4 .2 - 6 6 .7 -- ------ --------- Co m m e r c i a l s e r v i c e s ........................................................................................ ............................................................ 23 8 n .a . 0 0 0 n .a . - 2 4 .0 — --------- --------- Bu s i n es s fai l u r es b y i n d u s tr y n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 71 1979 D IS T R IC T OF C O L U M B IA H ig h lig h ts 1977 :IV to 1978 :IV Personal income — U p 8.4% vs. 12.6% in U .S ., to $7.0 billion — Services p ay ro lls u p 8.9% vs. 12.7% in U .S. — L oca l g o v e rn m e n t p ay rolls up 0.2% vs. 6.8% in U .S. Consumer prices - U p 9 .1% in th e m e tro p o lita n a re a vs. 8.9% in U .S. Employment — U p 3.6% vs. 3.9% in U .S ., to 309,000 Unemployment — D o w n 3,000, to 26,000 — R a te dow n 1.1 p e rc e n ta g e p o in ts, to 7.8% o f la b o r force vs. 5.5% in U.S. Construction — T o ta l v a lu a tio n o f c o n tra c ts d o w n 51.0% vs. 16.8% ga in in U .S ., to $112 m illion — N u m b e r o f dw e lling -u n it sta rts up sh a rp ly vs. n e a r sta b ility in U .S ., to 661 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Di s t r i c t o f Co l u m b i a Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 78 :1V 19 77:I V 19 77:1V 19 77:111 19 78 :1V 19 78 :111 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an g e To t a l p e r s o n a l I n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 6 ,2 0 9 6 ,4 75 6 ,76 5 7,0 18 12 .4 8 .9 12 .6 8 .4 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,6 5 6 10 ,16 5 10 ,3 9 8 10 ,9 2 6 12 .1 7 .7 12 .6 7.5 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ....................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 29 8 29 8 304 309 4 .1 2 .0 3 .9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 33 29 31 26 - 5 .0 - 8 .8 - 9 .8 3 .6 - 1 0 .9 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 10 .0 8 .9 9 .4 — — To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 2 ,6 75 2 ,8 2 8 3 ,3 19 n .a . 16 .3 2 4 .0 — — To t a l d e p o s i t s ( m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 4 ,10 1 4 ,3 9 2 4 ,6 8 2 n .a . 1 1.5 14 .2 — To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 14 3 ,3 14 2 2 8 ,0 9 6 14 1,10 0 111,6 8 0 14 .5 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 5 52 177 46 2 661 1.0 To t a l r e t a i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 5 42 5 77 18 3 n .a . B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 0 0 0 n .a . U .S . c i t y a v e r a g e ......................................................................................................................................................... 18 5 .3 2 0 1.8 W a s h i n g t o n , D .C .................................................................................................................................................... ................ 18 5 .5 18 8 .1 2 0 1.8 2 0 5 .3 7.8 — — 8 .2 - 9 .5 — - 1 .5 16 .8 — 16 .3 - .6 — 1 1.2 - 5 1 .0 2 73 .4 — - 6 6 .2 — — — — — Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 7.9 8 .9 8 .8 9 .1 72 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju s te d a t a n n u a l ra te s) in th e D istric t o f C o lu m b ia inc re a se d 8.4 p e rc e n t from 1977:IV to 1978:1V, lagging th e N a tio n ’s in cre ase by o v e r 4 p e rc e n ta g e p o in ts; only A la sk a re gistered a sm alle r in crease. In 1978:IV, th e D is tric t’s p e rs o n a l in co m e to ta le d $7.0 b illion , up $543 m illion since 1977:IV. D u rin g this tim e sp a n , th e Consumer Price Index fo r th e W a sh in g to n , D .C . m e tro p o lita n a re a in c re ased 9.1 p e rc e n t versus 8.9 p e rc e n t n a tio n a lly (ta b le 3). I f th e m e tro p o lita n a re a in crease is used as a n in d ic a to r fo r p rice increases w ith in th e D istric t, re al to ta l p e rso n a l in co m e in th e D istric t dec line d a lm o s t 1.0 p e rc e n t from y e a r to yea r, c o m p a re d w ith a 3 .7 -p erc e nt in cre a se n atio n a lly . Since th e la st n a tio n a l busin ess cycle p e a k in 1973:IV, th e D is tric t’s e c o n o m y h a s g ro w n m o re slow ly th a n th e N a tio n ’s; th e in cre ase in n o n fa rm in co m e w as 17 p e rc e n t less th a n n a tio n a lly . G ro w th w a s slow er o nly in N ew Y o rk , N e w Jerse y, C o n n e c tic u t, a n d D e la w a re . Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 : I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t W age and salary disbursements (p a y ro lls), w h ich in clu de d isb urse m e nts w ith in th e D istric t to n o n d is tric t re sid e n ts, in c re a se d 7.5 p erc e n t from 1977:IV to 1978:IV, c o m p a re d w ith 12.6 p e rc e n t n a tio n a lly , to $10.9 bil lion. A ll o f th e D is tric t’s m a jo r in d u strie s exc ep t F e d e ra l G o v e rn m e n t re gistere d p a y ro ll g a ins th a t fell s h o rt o f n a tio n a l c o u n te rp a rts . S ta te a n d local g o v e rn m e n t p ay ro lls inc re a se d 0.2 p e rc e n t, less th a n in any S ta te , to $934 m illion. M a n u fa c tu rin g p a y ro lls inc re a se d 4.6 p erc e n t, a lm o s t o n e -th ird o f th e n a tio n a l in crease. C o n s tru c tio n p a yro lls in c re ased 11.0 p e rc e n t, c o m p a re d w ith a 2 0.1-p e rc e n t g ain n atio n ally . P riva te service-type in d u strie s registered p a y ro ll g ain s th a t w ere a m o ng th e sm a llest in th e N a tio n . Services p a y ro lls in c re a se d 8.9 p erc e n t, lag ging th e n a tio n a l ave rag e in cre ase by a lm o s t 4 p e rc e n ta g e p o in ts, to $2.6 b illio n . T r a n s p o r ta tio n - c o m m u n ic a tio n - p u b lic u tilitie s p a y r o lls in cre a se d 5.8 p erc e n t, c o m p a re d w ith 11.3 p e rc e n t in th e N a tio n . T ra d e p a y ro lls inc re a se d a t a ra te th a t w as a p p re c ia b ly low er th a n th e N a tio n ’s. F e d e ra l G o v e rn m e n t p ay ro lls inc re a se d 7.9 p e rc e n t versus 7.1 p e rc e n t n a tio n a lly , to $5.1 billion. In 1978:IV, th e F e d e ra l G o v e rn m e n t p a y ro ll in th e D is tric t o f C o lu m b ia a c c o u n te d fo r 7.0 p e rc e n t o f all F e d e ra l p a y rolls n a tio n a lly . D istric t u n e m p lo y m e n t in su ra n c e b en efits dec line d 41.8 p erc e n t, from $73 m illion in 1977:IV to $43 m illion in I978:IV . N a tio n a lly , u n e m p lo y m e n t in su ra n c e bene fits dec line d 30.3 p ercent. C h a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V Pe r c e n t W a g e s a n d Sa l a r i e s □ Un i t e d St a t e s ^ W a s h i n g t o n , D .C . Ch a r t 3 .— To t a l Pe r s o n a l Inc om e C h a r t 4 .— I n d u s t r i a l C o m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Di s t r i c t o f Co l u m b i a [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 Billio n s T f t B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r oVuU g5 1h1 ■ 1M Un i t e d St a t e s iFo w uu ri tuhi Qu y u a a ir it ce ir, , 19 78 Di s t r i c t o f Co l u m b i a U.S . St a t e U .S . 19 7 7:111— _____ 1 S 7 7 - IV ____ ___ 19 78 1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 l a ü s e a s o n a l l v ad ju s te d a t an nu al rate s' — St a t e 19 7 7 :I V — 1 9 78 :1V Pe r c e n t c h a n c e 2 To t a l p e r s o n al i n c o m e ............................................................................................................................ 1 ,5 8 3 ,5 0 8 1 ,7 8 2 ,5 1 9 6 ,2 0 9 6 ,4 7 5 6 ,7 6 5 7 ,0 1 8 1 2 .4 Fa r m p e r so n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 0 0 0 0 4 7.9 No n f a r m p e r so n al i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 6 ,2 0 9 6 ,4 75 6 ,76 5 7,0 18 11.9 8 .9 12 .3 8 .4 To t a l p e r so n al i n c o m e ............................................................................................................................ 1 ,5 8 3 ,5 0 8 1 ,7 8 2 ,5 1 9 6 ,2 0 9 6 ,4 7 5 6 ,7 6 5 7 ,0 1 8 1 2 .4 8 .9 1 2 .6 8 .4 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,6 5 6 10 ,16 5 10 ,3 9 8 10 ,9 2 6 12 .1 7 .7 12 .6 7.5 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 535 562 596 6 20 17.0 1 1.4 16 .4 10 .3 Pr o p r i e t o r s ' i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 20 1 20 2 2 14 2 18 2 1.5 6 .5 18 .9 8 .3 0 0 6 6 .6 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 0 0 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 20 1 20 2 8 .9 _____ 8 .4 1 2 .6 2 6 .3 3 1.3 2 14 2 18 12 .8 6 .5 15 .3 2 14 ,9 9 2 8 .3 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 4 2 ,4 4 2 1,13 1 1,15 8 1,2 6 5 1,3 0 1 12 .3 11.9 12 .8 12 .3 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 1,3 17 1,3 5 2 1,4 2 9 1,4 4 9 8 .8 45 43 - 2 4 .0 8 .5 8 .2 7.2 - 2 1 .8 - 3 0 .3 - 4 1 .8 8 .0 15 .1 9 .5 7 .7 12 .6 7.5 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 58 73 Le s s : p e r s o n a l c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 7 1,6 10 5 73 5 78 6 19 6 33 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 - 6 ,0 5 6 - 6 ,3 8 7 - 6 ,5 1 8 - 6 ,8 6 4 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,6 5 6 10 ,16 5 10 ,3 9 8 10 ,9 2 6 12 .1 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 0 0 0 0 8 .5 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 9 ,6 5 6 10 ,16 5 10 ,3 9 8 10 ,9 2 6 12 .1 7 .7 12 .6 7.5 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 1 1 1 1 2 6 .5 14 .1 3 3 .9 14 .1 — 14 .8 — — — 10 .6 C o n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 23 9 2 15 247 23 9 19 .1 3 .4 2 0 .1 11.0 M a n u f a c t u r i n g ....................................................................................................................................................... 2 76 ,112 3 12 ,9 70 247 26 3 2 74 2 75 12 .1 4 .6 176 ,2 16 2 0 3 ,0 5 3 D D D D 13 .7 11.2 _ 13 .3 Du r a b l e g o o d s ................................................................................................................................................. 15 .2 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 D D D D 9 .4 _ Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 D D D D 12 .8 _ _ Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ....................................................... 76 ,5 8 4 8 5 ,2 6 4 5 19 5 45 56 7 5 77 10 .4 9 .1 11.3 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 6 54 656 698 70 0 13 .6 6 .8 14 .1 6 .8 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 4 12 4 16 45 7 46 9 14 .1 10 .9 13 .2 12 .8 10 .0 _ 13 .1 5 .8 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 2 ,2 9 3 2 ,3 5 1 2 ,4 18 2 ,5 6 1 12 .6 5 .4 12 .7 8 .9 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 5 ,2 2 0 5 ,6 4 4 5 ,6 5 2 6 ,0 18 7.4 8 .3 6 .9 6 .6 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 4 ,3 9 5 4 ,7 12 4 ,76 1 5 ,0 8 4 7.3 8 .3 7 .1 7.9 St a t e a n d l o c a l ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 8 25 932 891 934 7.5 8 .0 6 .8 .2 1685 D D D D 18 .7 - Ot h o r 1, De t a i l ................................................ ......................................................................... _ _ _ _ _ _ _ 3 .2 16 _____ m a y n o t a d d t o t o t a l s b e c au s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d 14 .6 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Reg i o n a l Ec o n o m i c M e a s u r e m e n t da ta. Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Di s t r i c t o f Co l u m b i a U .S . St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V U .S . c i t y a ver a g e 2 ....................................................................................................................................... 18 5 .3 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 19 78 :1V Pe r c e n t c h an g e 2 0 1.8 7.9 18 5 .5 18 8 .1 St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d W a s h i n g t o n , D .C ................................................................................................................................................................ U.S . 2 0 1.8 2 0 5 .3 8 .9 8 .8 9 .1 N O T E.— Un r e vi s e d d a ta a r e u sed f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 7 8 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 74 S TA TE Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS L abor F orce la b o r force. T h e D is tric t’s u n e m p lo y m e n t r a te in 1978:IV w as exceeded o n ly by th e ra te in A la sk a a n d w as w ell a b o v e th e N a tio n ’s 5 .5 -p erc en t ra te . F ro m 1977:IV to 1978:IV, th e D is tric t o f C o lu m b ia ’s civilian labor force in cre a se d 2.3 p e rc e n t, lagging th e N a tio n ’s 3 .1 -p erc en t a dv a n c e (tab le 4). Total employment in c re a se d from 298,000 to 309,000, a 3.6-percent a dv a n c e th a t w as m a rg in a lly b e low th e n a tio n a l ad va n ce o f 3.9 p e rce nt. A c c o rd in g to p re lim in a ry d a ta fo r D e c em b e r 1978, th e u n e m p lo y m e n t ra te w as 7.1 p e rc e n t in th e D istric t o f C o lu m b ia , c o m p a re d w ith 4.2 p e rc e n t in th e W a sh in g to n , D .C . m e tro p o lita n a r e a as a w hole. W ith e m p lo y m e n t in c rea sin g b y 11,000 a n d th e la b o r fo rce inc re a sing by o nly 8,000, th e n u m b e r o f unemployed declined by 3,000. T he unemployment rate d ec lin ed 1.1 p e rc e n ta g e p o in ts, to 7.8 p e rc e n t o f th e Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d U n e m p l o y m e n t , 19 78 :1V : Di s t r i c t Ch a r t 6 — U n e m p l o y m e n t Ra t e s , 1 9 7 7 :1 V — 19 78 :1V o f Co l u m b i a Th o u s a n d s La b o r Fo r c e Em p l o y m e n t Un e m p l o y m e n t Un i t e d St a t e s Di s t r i c t o f Co l u m b i a T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s 19 77:1V 19 78 :1V Di s t r i c t o f Co l u m b i a 19 77:111 19 77:1V 19 78 :111 U .S . St a t e U .S . St a t e 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Pe r c e n t c h a n g e 3 2 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 585 5 79 586 587 M i n i n g a n d s e r v i c e s ....................................................................................................................................................... 16 ,3 2 6 1 7 ,1 1 4 15 0 15 3 15 1 15 8 4 .3 4 .2 .2 — .3 1.3 — 3 .6 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 15 15 16 15 10 .4 4 .0 11.3 4 .1 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 15 15 15 15 3 .1 1.4 3 .7 1.3 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 26 26 26 26 3 .8 1.2 4 .4 .8 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 64 66 66 66 5 .3 2 .2 4 .5 1.2 .0 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 33 33 33 33 4 .8 - .6 - 2 .0 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 28 2 2 72 28 0 2 73 2 .1 - .6 1.4 .1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 331 328 335 335 3 .2 3 .1 2 .3 To t a l e m p l o y e d .......................................................................................................................................... ...................... 9 2 ,4 4 2 9 6 ,0 10 29 8 29 8 30 4 309 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 33 29 31 26 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b ei n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e ak i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 5 .5 10 .0 8 .9 9 .4 7.8 1.3 4 .1 3 .9 2 .0 - 9 .8 — - 8 .8 - 5 .0 — — 3 .6 - 1 0 .9 — A p r il 1979 75 Ch a r t 7 .— Ci v i l i a n La b o r Ch a r t Fo r c e In d e x, 19 72 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t I n d e x , 19 72 = 10 0 Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Di s t r i c t o f Co l u m b i a 76 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS C o m m er cia l B a n k in g D ue to c ha n ge s in th e d a ta re p o rtin g p ra c tice s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is r e p o rt to in clu de th e com m e rcial b a n k in g d iscu ssio n a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is sho w n below . T A B LE 5 .— Co m m e r c i a l Ba n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Di s t r i c t o f Co l u m b i a Un i t e d St a t e s US. St a t e US. 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : IV 19 78 :111 M ill io ns o f do ll ar s , not seaso nally ad ju s te d 1 t o t a l l o a n s ..................... 6 10 ,5 0 2 n .a . 2 ,6 75 2 ,8 2 8 St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e 1 3 ,3 19 n .a . 16 .3 2 4 .0 _______ __ __ __ Co m m e r c i a l a n d i n d u s t r i a l . . . 19 6 ,3 17 n .a . 584 665 895 n .a . 14 .2 5 3 .2 Lo a n s t o i n d i v i d u a l s ................... 14 0 ,5 9 9 n .a . 560 600 684 n .a . 2 0 .2 2 2 .2 — — Real e s t a t e ........................................... 177,9 3 5 n .a . 951 1,0 16 1,16 5 n .a . 19 .9 2 2 .6 — __ Re s i d e n t i a l ..................................... 10 1,2 3 6 n .a . 552 591 6 43 n .a . 2 1.3 16 .4 — — Fa r m s ................................................ 7,73 1 n .a . 1 1 2 n .a . 10 .7 4 3 .4 — — Ot h e r ................................................ 6 8 ,9 6 8 n .a . 397 424 5 20 n .a . 19 .0 3 1.1 — __ Fa r m s , e x c l u d i n g r e al e s t a t e . 2 5 ,70 4 n .a . 1 1 1 n .a . 6 .8 2 8 .8 — — 8 .0 — — Ot h e r ........................................................ 6 9 ,9 4 7 n .a . 580 5 46 5 73 n .a . To t a l d e p o s i t s .............. 9 2 5 ,5 11 n .a . 4 ,10 1 4 ,3 9 2 4 ,6 8 2 n .a . De m a n d ................................................. 3 77,6 8 3 n .a . 2 ,1 14 2 ,3 3 4 2 ,3 3 8 n .a . 10 .2 10 .6 Ti m e a n d s a v i n g s ........................... 1 2 5 4 7,8 2 8 n .a . 1,9 8 7 2 ,0 5 8 2 ,3 4 4 n .a . 12 .3 18 .0 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d on u n r o u n d e d data. So u r c e : U.S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . 11.5 - 1 .2 14 .2 — — __ __ — — C o n str u c tio n T h e to ta l v a lu a tio n o f c o n tra c ts in th e D is tric t o f C o lu m b ia dec line d by m o re th a n o n e -h a lf from 1977:1V to 1978:1 V, to $111.7 m illion (ta b le ó ). T h e d e c lin e w a s in sh a r p c o n tra s t to th e N a tio n ’s 16.8-percent ave rag e g ain a n d w as exceeded only by th e decline in N o rth D a k o ta . T w o large c o n tra c ts in 1977:1V— a $35 m illion ho tel a n d a $70 m illion sub w a y p r o je c t— ra ise d th e D is tric t’s to ta l v a lu a tio n o f c o n tra c ts to a n u n u s u a l ly h ig h level, th e re b y d is to rtin g th e su b se q u e n t y e a r-to -y e a r c ha nge . If b o th p ro je c ts a re e xc lu de d , th e to ta l v a lu a tio n o f c o n tra c ts w o u ld h av e c h a n g e d o nly slightly. D e sp ite a s u b s ta n tia l gain in th e v a lu a tio n o f stre e t a n d high w ay c o n tra c ts (fro m $480,000 in 1977:1V to $3.9 m illion in 1978:1 V), th e v a lu a tio n o f all n o n b u ild in g c o n tra c ts de c line d to o n ly o ne -fifth o f th e 1977:1 V level. T h e 1977:IV level h a d been u n u su a lly high be c ause o f th e sub w a y c o n tra c t. N a tio n a lly , n o n b u ild in g c o n tra c ts rose 22.2 p e rc e n t in v a lu a tio n . N o n re s id e n tia l c o n tra c ts de c line d 55.2 p e rc e n t in v a lu a tio n , th e large st dec line in th e N a tio n , c o m p a r e d w ith a 15.8 -p e rc e n t n a tio n a l g a in . In 1977:1V, th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts h a d b ee n u n u su a lly high in th e D istric t, p a r tly b e c a u se o f a $20 m illion c o n tra c t fo r th e c o n stru c tio n o f a n office building. C o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o u s e k e e p in g u n its rose 12.6 p e rc e n t in v a lu a tio n , lagging th e N a tio n ’s g a in b y 2 p e rc en tag e p o in ts, to $25.7 m illion. T h e v a lu a tio n o f re sid e n tia l h o u se k e e p in g c o n tra c ts ro se 247.3 p e rc e n t, th e large st gain in th e N a tio n a n d well a bo v e th e n a tio n a l a v e rag e g ain o f 15.6 p erc e n t. T h e n u m b e r o f dw elling u n its s ta rte d ro se fro m 177 in 1977:1V to 661 in 1978:IV; th e g a in o f 273.4 p e rc e n t w a s th e la rge st in th e N a tio n . N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw e lling u n its sta rte d w as a lm o st u n c h a n g e d a t a high level. T h e v a lu a tio n o f re side n tia l n o n h o u se k e e p in g c o n tra c ts w as $35.4 m il lion in 1977:1V, in clu din g th e h o te l c o n tra c t; in 1978:IV, th e v a lu a tio n w as only $313,000. Ch a r t Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n o f Co l u m b i a M il li on $ I n d e x , 19 7 6 = 10 0 Ch a r t Pe r c e n t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Di s t r i c t 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Di s t r i c t o f Co l u m b i a Un i t e d St a t e s 19 77:1V 19 78 :I V Fo u r t h Qu a r t e r , 19 78 1 19 77:111 19 77:1V U.S . St a t e 19 78 :111 19 78 : IV No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s ............................................................................................................... U.S . 19 7 M V — 19 78 :1V 19 78 :111 St a te 19 77:111— Pe r c e n t c h a n g e 2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 14 3 ,3 14 2 2 8 ,0 9 6 14 1,10 0 111,6 8 0 14 .5 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 2 0 ,2 0 3 2 2 ,8 6 6 2 6 ,4 10 2 5 ,73 6 16 .8 - 1 .5 16 .8 - 5 1 .0 3 0 .7 14 .6 12 .6 2 .4 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 12 5 12 6 12 8 13 0 4 .4 - 9 .3 3 .2 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 12 3 ,111 2 0 5 ,2 3 0 114 ,6 9 0 8 5 ,9 4 4 14 .0 - 6 .8 17.4 - 5 8 .1 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 1,9 8 1 2 ,0 9 5 1,75 5 1,0 9 1 10 .8 - 1 1 .4 10 .2 - 4 7 .9 2 0 .8 - 4 .3 10 0 .0 - .6 2 73 .4 15 .6 2 4 7.3 10 .7 9 9 .2 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 24 13 29 26 - 5 .1 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 552 177 46 2 661 1.0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 17,8 8 9 9 ,73 4 2 4 ,5 3 0 3 3 ,8 10 15 .3 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 6 39 2 71 5 19 5 40 10 .3 - 1 6 .3 3 7.1 - 1 8 .8 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 505 4 5 4 - 1 0 .0 75 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 5 ,6 0 0 3 5 ,4 17 14 ,8 70 3 13 9 .4 16 5 .5 4 4 .8 - 9 9 .1 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 179 70 0 2 17 0 - .7 2 1.2 2 4 .7 ___ 7 - .4 - 2 0 .0 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 74 86 46 64 - 2 .5 - 3 7 .8 - 1 2 .0 - 2 5 .6 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 76 ,2 9 7 8 1,3 75 6 5 ,74 4 3 6 ,4 73 2 7.6 - 1 3 .8 15 .8 - 5 5 .2 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 1,16 3 1,12 4 1,0 2 0 551 12 .2 - 1 2 .3 8 .9 - 5 1 .0 2 2 .4 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 23 22 46 36 10 0 .0 - 9 .1 6 3 .6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 3 ,3 2 5 78 ,70 4 9 ,5 4 6 15 ,3 4 8 - .1 - 5 9 .1 2 2 .2 - 8 0 .5 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 6 4 14 9 9 .3 13 3 .3 - 1 7 .8 12 5 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 2 ,70 1 48 0 3 ,5 3 8 3 ,8 8 1 3 .0 3 1.0 - 1 6 .3 70 8 .5 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an ge s f o r f l o o r ar ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r a r e a d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . R e ta il S a le s R eta il sales d a ta fo r th e D istric t o f C o lu m b ia a re n o t availa ble. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Di s t r i c t o f Co l u m b i a Un i t e d St a t e s 19 7 7:I V 19 78 :1V Fo u r t h Qu a r t e r , 19 78 19 77:111 19 77:1V U .S . St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :I V 19 78 :111 U .S . 19 77:111— M i l l i o n s o f d o l l a r s , n o t s e a s o n a l l y a d j u st « d Pe r c e n t c h an g e Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 — 1 1.2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 1 1.8 _______ 15 .3 _______ No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 n .a .: Da t a n o t a v a i l a b l e . — 9 .2 — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 — Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Di s t r i c t o f Co l u m b i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Di s t r i c t o f Co l u m b i a Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V - Pe r c e n t c h a n g e Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ 10 9 ,4 11 n .a . 542 To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 0 Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 0 0 0 n .a . Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 288 n .a . 0 0 0 n .a . M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 0 0 0 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 0 0 0 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 0 0 0 Re t a i l t r a d e .......................................................................................................................................................................... 688 n .a . 0 0 0 Co m m e r c i a l s e r v i c e s ..................................................................................................................................................... 23 8 n .a . 0 0 0 5 77 0 18 3 0 — - 6 6 .2 — — — — — 4 4 .2 _______ _______ _______ — 3 8 .4 — — — n .a . - 1 0 .1 _______ ________ _______ n .a . 1.0 — — — n .a . - 2 7 .1 — — — n .a . - 4 .2 — — — n .a . - 2 4 .0 — — — n .a . n .a . 8 .2 - 9 .5 Bu s i n e s s f a i l u r e s b y i n d u s t r y n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 79 — P ayrolls up 14.0% in services vs. 12.7% in U .S. Employment — U p 3.8% vs. 3.9% in U .S ., to 3.5 m illion Unemployment — D ow n 24,000, to 245,000 — R a te dow n to 6.5% o f la b o r fo rce vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 29.1% vs. 16.8% in U .S., to $2.6 billion — N u m b e r o f d e lling-un it sta rts up 35.8% vs. n e a r stab ility in U .S ., to 40,298 Retail sales — U p 14.2% vs. 11.2% in U .S ., to a lm o st $9.9 billion T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 Fl o r i d a U .S . St a t e U.S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an ge To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 i , 78 2 ,5 19 5 7,4 4 2 5 9 ,18 1 6 5 ,73 9 6 7,4 4 8 12 .4 14 .4 12 .6 14 .0 To t a l w ag e s a n d s a l a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 2 ,2 10 3 3 ,16 3 3 6 ,6 9 7 3 7,76 8 12 .1 13 .9 12 .6 13 .9 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 3 ,2 8 3 3 ,3 6 9 3 ,5 18 3 ,4 9 8 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 26 8 26 9 26 5 245 4 .1 - 9 .8 7 .2 3 .9 3 .8 - 1 .2 - 8 .8 - 9 .0 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 7.6 7.4 7.0 6 .5 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 14 ,79 0 15 ,6 4 8 17,5 6 3 n .a . 16 .3 18 .7 — To t a l d e p o s i t s ( m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 2 7,2 9 5 2 9 ,70 2 3 0 ,5 4 9 n .a . 11.5 11.9 — To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 1,8 5 8 ,8 6 6 2 ,0 0 0 ,6 9 6 2 ,6 3 5 ,4 5 5 2 ,5 8 2 ,0 2 8 14 .5 4 1.8 16 .8 2 9 .1 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 2 9 ,2 4 5 2 9 ,6 70 4 1,0 3 2 4 0 ,2 9 8 1.0 4 0 .3 - .6 3 5 .8 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 7,6 72 8 ,6 6 4 8 ,6 6 1 9 ,8 9 0 10 .3 12 .9 1 1.2 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 9 ,0 9 0 8 ,9 3 3 10 ,17 4 n .a . 8 .2 11.9 Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 35 38 21 n .a . 18 5 .3 2 0 1.8 — — - 9 .5 — - 4 0 .0 — — 14 .2 — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . — — — — 7.9 — 8 .9 — 80 S TA TE Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S A n a ly s is P e r so n a l In c o m e T o ta l personal incom e (se aso na lly a d ju s te d a t a n n u a l ra te s) increased 14.0 p e rc e n t from 1977:IV to 1978:1 V versus 12.6 p e rc e n t n a tio n a lly (ta b le 2). In 1978:1V, F lo r id a ’s p e rso n a l in c o m e to ta le d $67.4 b illio n, up $8.3 billion since 1977:1 V. F lo r id a ’s n o n fa rm p e rso n a l in co m e inc re a se d 13.6 p e rc e n t from y e a r to y e a r, 1.3 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly . In c o n tra s t, since th e la st n a tio n a l b usine ss cycle p e a k in 1973:IV, th e S ta te ’s e c o n o m y h as g ro w n a t th e n a tio n a l ra te o f gain. F lo r id a ’s in cre ase from 1973:IV to 1978:1 V ra n k e d 3 3rd in th e N a tio n . W a ge and sa la ry disbursem ents (p a y ro lls) in th e S ta te inc re a se d 13.9 p e rc e n t from 1977:IV to 1978:1 V, c o m p a re d w ith 12.6 p e rc e n t n a tio n a l ly. In 1978:1V, they to ta le d $37.8 b illio n, up $4.6 billion since 1977:IV. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V [Se a s o n a l l y ad ju ste d ] Pe r c e n t W ith in F lo r id a ’s p riv a te service-type in d u stry g ro u p , p ay ro lls inc re a se d m o re slow ly th a n n atio n a lly only in tra n s p o rta tio n -c o m m u n ic a tio n p u b lic utilitie s— 7.7 p e rc e n t versus 11.3 p erc e n t. F lo r id a ’s in crease ra n k e d 4 4 th in th e N a tio n . In fin a n c e -in su ra n c e -re a l e sta te , fo r w hich F lo r id a is a m a jo r c e n te r in th e S o u th , p a y ro lls inc re a se d 19.3 p e rc e n t from y e a r to yea r, th e fifth large st in cre ase in th e N a tio n . T h e n a tio n a l in c re a se w a s 13.2 p e rc e n t. P ay ro lls in tra d e in c re ased 14.8 p e rc e n t in th e S ta te versus 14.1 p e rc e n t n a tio n a lly . Services p ay ro lls, w hich a c c o u n te d fo r a lm o s t o n e-fifth o f F lo r id a ’s to ta l p a y ro lls in 1978:IV, in c re a se d 14.0 p e rc e n t v ersu s 12.7 p e rc e n t n a tio n a lly . B oth S ta te a n d local g o v e rn m e n t a n d F e d e ra l G o v e rn m e n t p ay ro lls in cre a se d fa ste r in F lo rid a th a n n a tio n a lly ; th e fo rm e r inc re a se d 9.3 p e rc e n t versus 6.8 p e rc e n t n a tio n a lly , a n d th e la tte r in c re a se d 8.1 p e rc e n t versus 7.1 p e rc e n t n a tio n a lly . M a n u fa c tu rin g p ay ro lls also inc re a se d fa ste r in th e S ta te th a n n a tio n a l ly. D u ra b le s m a n u fa c tu rin g p a y ro lls in c re ased 20.5 p e rc e n t sta tew ide v ersu s 15.2 p e rc e n t n a tio n a lly , a n d n o n d u ra b le s m a n u fa c tu rin g p a y rolls in c re ased 15.1 p e rc e n t v ersu s 10.0 p e rc e n t. F lo r id a ’s incre ases w ere a m o n g th e large st in th e N a tio n . P a y ro lls in c o n s tru c tio n in c re ased 21.1 p e rc e n t from y e a r to y ea r, 1.0 p e rc e n ta g e p o in t m o re th a n n a tio n a lly . F ro m 1977:1 V to 1978:1 V, S ta te u n e m p lo y m e n t in su ra n c e bene fits dec lin ed 36.0 p e rc e n t versus a 3 0 .3 -p erc en t dec line n atio n a lly . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V - 1 9 7 8 :1 V Pe r c e n t In c o m e W a g e s a n d Sa l a r i e s Se r v i c e - t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l In c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n [ Se a s o n a l l y a d j u s t e d ] o f W a g e s a n d Sa l a r i e s : Fl o r i d a [ Se a s o n a l l y a d j u s t e d ] Ind e x , 1 9 7 2 = 1 0 0 B il li o n s T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Fl o r i d a Un i t e d St a t e s U.S . St a t e 19 7 7 :1 1 1 _ _ _ _ _ 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : IV U .S . St a t e 19 ‘ 7 :I V — 19 78 :111 M i l l i o n s o f d o l l a r s , s e as o n a l l y a d j u s t e d a t a n n u a l r a t e s 1 1 3 78 :1V Pe r c e n t c h a n g e 1 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 5 7,4 4 2 5 9 ,18 1 6 5 ,73 9 6 7,4 4 8 12 .4 14 .4 12 .6 14 .0 Fa r m p e r so n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 8 18 1,0 3 7 1,5 3 6 1,3 8 4 4 7.9 8 7.8 2 6 .3 3 3 .5 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 5 6 ,6 2 4 5 8 ,14 4 6 4 ,2 0 3 6 6 ,0 6 3 11.9 13 .4 12 .3 13 .6 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 5 7,4 4 2 5 9 ,18 1 6 5 ,73 9 6 7,4 4 8 12 .4 14 .4 12 .6 14 .0 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 2 ,2 10 3 3 ,16 3 3 6 ,6 9 7 3 7,76 8 12 .1 13 .9 12 .6 13 .9 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 2 ,8 4 6 2 ,9 70 3 ,3 6 3 3 ,4 8 5 17.0 18 .2 16 .4 17.3 Pr o p r i e t o r s ' i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 3 ,0 4 5 3 ,3 0 2 4 ,0 6 8 4 ,0 0 3 2 1.5 3 3 .6 18 .9 2 1.2 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 404 608 1,0 8 0 906 6 6 .6 16 7.3 3 1.3 4 9 .0 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 2 ,6 4 1 2 ,6 9 4 2 ,9 8 8 3 ,0 9 7 12 .8 13 .1 15 .3 15 .0 14 .7 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 10 ,9 2 2 11,2 12 12 ,4 4 0 12 ,8 5 9 12 .3 13 .9 12 .8 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 10 ,2 6 9 10 ,4 2 6 11,3 2 5 11,5 3 7 8 .8 10 .3 8 .2 10 .7 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 246 176 119 1 12 - 2 4 .0 - 5 1 .7 - 3 0 .3 - 3 6 .0 Le s s : p e r s o n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 7 1,6 10 1,8 18 1,8 5 9 2 ,116 2 ,16 4 16 .4 15 .1 16 .4 Pl u s : r e s i d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 -3 2 -3 3 -3 8 -4 0 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 2 ,2 10 3 3 ,16 3 3 6 ,6 9 7 3 7,76 8 12 .1 13 .9 12 .6 13 .9 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 3 73 387 4 11 431 8 .5 10 .1 10 .6 11.2 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 3 1,8 3 7 3 2 ,776 3 6 ,2 8 6 3 7,3 3 8 12 .1 14 .0 12 .6 13 .9 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 12 0 116 14 3 14 7 2 6 .5 19 .2 3 3 .9 2 7.6 2 1.1 14 .8 — — C o n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 2 ,0 9 7 2 ,14 7 2 ,5 6 9 2 ,6 0 1 19 .1 2 2 .5 2 0 .1 M a n u f a c t u r i n g ....................................................................................................................................................... 2 76 ,112 3 12 ,9 70 4 ,3 8 5 4 ,5 8 5 5 ,19 6 5 ,4 17 12 .1 18 .5 13 .3 18 .2 Du r a b l e g o o d s ................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 2 ,4 3 1 2 ,6 0 5 2 ,9 4 2 3 ,13 9 13 .7 2 1.0 15 .2 2 0 .5 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 1,9 5 4 1,9 8 0 2 ,2 5 4 2 ,2 78 9 .4 15 .4 10 .0 15 .1 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 17,6 5 6 18 ,14 7 19 ,9 78 2 0 ,6 8 1 12 .8 13 .2 13 .1 14 .0 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 2 ,79 3 2 ,8 4 3 2 ,9 2 3 3 ,0 6 3 10 .4 4 .7 11.3 7 .7 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 6 ,5 4 5 6 ,70 9 7 ,4 7 1 7,6 9 9 13 .6 14 .1 14 .1 14 .8 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 2 ,19 2 2 ,2 6 9 2 ,5 8 6 2 ,70 7 14 .1 18 .0 13 .2 19 .3 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 6 ,12 5 6 ,3 2 5 6 ,9 9 8 7 ,2 1 2 12 .6 14 .2 1 2 .7 14 .0 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 7,3 2 7 7,5 2 0 8 ,0 9 7 8 ,19 0 7.4 10 .5 6 .9 8 .9 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 2 ,3 5 9 2 ,5 2 6 2 ,5 9 4 2 ,73 1 7.3 10 .0 7 .1 8 .1 St a t e a n d l o c a l ............................................................................................................................................... 13 3 ,0 76 14 2 ,0 8 0 4 ,9 6 8 4 ,9 9 4 5 ,5 0 3 5 ,4 5 9 7.5 10 .8 6 .8 9 .3 3 .2 16 3 .6 8 5 25 3 26 1 303 301 18 .7 19 .8 14 .6 15 .1 Ot h e r ........................................................................................................................................................................... 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d on u n r o u n d e d d a t a . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Reg i o n a l Ec o n o m i c M e a s u r e m e n t Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s El o r i d a U.S . St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 1. Co n s u m e r 18 5 .3 Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 2 0 1.8 — — St a t e 19 7 7:1V — 19 78 :111 I n d e x , 19 6 7 = 1 0 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ve r a g e 1 ........................................................................................................................................ U .S . 19 78 :1V Pe r c e n t c h an g e — — 7.9 — 8 .9 — N O T E.— Un r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 82 S T A T E Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS L abor Force A m o n g F lo r id a ’s m a jo r m e tro p o lita n a rea s, p re lim in a ry u n e m p lo y m e n t ra te s fo r D e c e m b e r 1978, w hen th e S ta te ’s ra te w as 6.4 p erc e n t, ra ng ed from 6.6 p erc e n t in W e st P alm B eac h-B oca R a to n to 5.6 p erc e n t in Jac k so nv ille. In M iam i a n d T a m p a -S t. P e te rsb u rg , th e S ta te ’s tw o large st m e tro p o lita n a re a s, th e p re lim in a ry u n e m p lo y m e n t ra te s w ere 6.5 p e rc e n t a n d 5.9 p e rc e n t, respectively. In P e n sac o la , th e p re lim in a ry ra te w as 6.2 p e rc e n t, u p 0.8 p e rc e n ta g e p o in t since D e c e m b e r 1977; P e n sa c o la w as th e o n ly m a jo r m e tro p o lita n a re a in th e S ta te to re gister a y e a r-to -y e a r in cre ase in th e u n e m p lo y m e n t ra te . F ro m 1977:IV to 1978:IV , F lo r id a ’s civilian labor force in c re ased 2.9 p e rc e n t versus 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in c re a se d 3.8 p e rc e n t versus 3.9 p e rc e n t n a tio n a lly , to 3.5 m illion. W ith e m p lo y m e n t in cre a sin g by 129,000 a n d th e la b o r fo rce inc re a sing by 105,000, th e n u m b e r o f unemployed dec lin ed by 24,000, to 245,000. Even th o u g h F lo r id a ’s unemployment rate dec line d 0.9 p e rc e n ta g e p o in t from y e a r to y ea r, its 6 .5 -p e rc e nt u n e m p lo y m e n t ra te in 1978:1V ra n k e d sixth h igh est in th e N a tio n . T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:IV w as 5.5 p e rc e n t, d o w n 0.7 p e rc e n ta g e p o in t from th e 1977:1V level. Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Fl o r i d a Ch a r t M il li o n s 6 .— U n e m p l o y m e n t Ra t e s , 19 7 7 :1 V — 19 78 :1V Pe r c e n t La b o r Fo r c e Em p l o y m e n t ^ 1 9 7 7 1V B 8 9 19 78 : I V Un e m p l o y m e n t T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Fl o r i d a Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 U .S . U.S . St a t e 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :I V Pe r c e n t c h a n g e ’ Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... St a t e 8 4 ,2 10 8 7,70 8 2 ,8 3 0 2 ,9 2 5 2 ,9 72 3 ,0 6 0 4 .3 5 .0 4 .2 4 .6 78 7 899 9 9 9 9 8 .2 1 .1 14 .2 3 .5 4 ,0 3 2 4 ,4 8 8 177 18 0 20 8 20 8 10 .4 1 7 .2 11.3 15 .3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 3 73 384 40 1 4 17 3 .1 7.4 3 .7 8 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , an d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 18 5 18 6 18 2 18 8 3 .8 19 ,15 2 2 0 ,0 15 73 5 76 4 76 3 78 7 5 .3 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 .4 1.2 3 .9 4 .5 3 .0 - 2 .0 - 1 .3 4 ,8 5 2 4 ,75 6 20 1 201 2 11 2 14 4 .8 4 .9 15 ,5 3 9 16 ,2 15 6 12 636 650 6 62 4 .6 6 .2 4 .4 6 77 4 .2 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 539 566 5 49 5 75 2 .1 1.9 1.4 1.6 Ci v i l i a n l a b o r f o r c e 1 3 .................................................................................................................................. 2 9 8 ,5 9 1 10 1,6 15 3 ,5 5 1 3 ,6 3 8 3 ,78 3 3 ,74 3 3 .2 6 .5 3 .1 2 .9 9 2 ,4 4 2 9 6 ,0 10 3 ,2 8 3 3 ,3 6 9 3 ,5 18 3 ,4 9 8 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 26 8 26 9 26 5 245 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 7.6 7 .4 7.0 6 .5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 7 8 , t h e s e d a ta a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xe r c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 4 .1 - 9 .8 7.2 - 1 .2 3 .9 - 8 .8 3 .8 - 9 .0 • A p r il 83 1979 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e I n d e x . 1 9 7 2 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t I n d e x . 19 72 = 10 0 Ch a r t Per cent Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t Mi llions 1 0 .— I n d u s t r i a l C o m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Fl o r i d a 84 S T A T E Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS C o m m er cia l B a n k in g D u e to c ha n g e s in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m e rc ia l b a n k in g d a ta a rriv e d to o la te fo r this re p o rt to in clude th e co m m ercial b a n k in g discussion and th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c om m ercial b a n k in g ta b le 5 is show n below . 12 T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Fl o r i d a Un i t e d St a t e s U .S . St a t e 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V St a t e U.S . 19 7 7:1V — 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e ' M ill io ns of do ll ars , n ot seasonally a d ju s te d 1 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 14 ,79 0 15 ,6 4 8 17,5 6 3 n .a . 16 .3 18 .7 — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 3 ,4 8 7 3 ,715 3 ,8 9 1 n .a . 14 .2 11.6 — — — Lo a n s t o i n d i v i d u a l s ...................................................................................................................................................... 14 0 ,5 9 9 n .a . 4 ,9 9 7 5 ,2 5 3 6 ,0 5 0 n .a . 2 0 .2 2 1.1 — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 5 ,4 79 5 ,75 5 6 ,6 9 5 n .a . 19 .9 2 2 .2 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 2 ,4 5 4 2 ,5 8 1 3 ,12 0 n .a . 2 1.3 2 7.2 — — — — Fa r m s ................................................................................................................................................................................... 7 ,7 3 1 n .a . 14 0 14 8 15 0 n .a . 10 .7 7.2 Ot h e r ................................................................................................................................................................................... 6 8 ,9 6 8 n .a . 2 ,8 8 5 3 ,0 2 5 3 ,4 2 4 n .a . 19 .0 18 .7 Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 15 5 16 8 14 8 n .a . 6 .8 - 5 .0 — — — — — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 6 72 75 8 78 0 n .a . 8 .0 16 .0 To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 2 7,2 9 5 2 9 ,70 2 3 0 ,5 4 9 n .a . 11.5 11.9 — — D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 10 ,6 6 8 12 ,3 4 7 12 ,4 3 0 n .a . 10 .2 16 .5 — — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 16 ,6 2 7 17,3 5 5 18 ,119 n .a . 12 .3 9 .0 — — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 85 C o n str u c tio n F ro m 1977:1V to 1978:IV, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts inc re a se d 29.1 p e rc e n t ($581.3 m illion), to $2.6 billion (ta b le 6). F lo r id a ’s in cre ase ra n k e d te n th in th e N a tio n a n d c o m p a re d w ith a n a tio n a l in cre ase o f 16.8 p e rce nt. N a tio n a l c o n s tru c tio n co sts inc re a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e s p a n , a n d if th is in crease is re p re se n ta tiv e o f th e in cre ase th ro u g h o u t th e S ta te, th e re al in cre ase in th e to ta l v a lu a tio n o f c o n tra c ts in F lo rid a w a s a b o u t 16 p e rc e n t versus a b o u t 4 p e rc e n t n a tio n a lly . v a lu a tio n o f re side n tia l h ou sek e e p in g c o n tra c ts w ou ld h a ve inc re a se d 36.0 p erc e n t. T h e n u m b e r o f dw e lling u n its s ta rte d in c re a se d 35.8 p erc e n t, th e th ird la rge st in crease a fte r W e st V irg in ia ’s a n d H a w a ii’s. In 1978:1V, 40,298 dw elling u n its w e re sta rte d , u p 10,628 u n its since 1977:IV. In c o n tra s t, th e n u m b e r o f dw e lling u n its s ta rte d in th e N a tio n re m a in ed a lm o s t u n c h a n g e d a t a h igh level. R e side ntia l h o u sek e ep in g a d d itio n s a n d a lte ra tio n s in F lo rid a in cre a se d 20.2 p e rc e n t in v a lu a tio n , c o m p a re d w ith 14.6 p e rc e n t n a tio n a lly . R esid e ntia l h o u se k e e p in g c o n tra c ts inc re a se d 47.6 p e rc e n t in v a lu a tio n , c o m p a re d w ith 15.6 p e rc e n t n atio n a lly . F lo r id a ’s in cre a se ra n k e d fifth in th e N a tio n . In 1978:1 V, a $102 m illion c o n tra c t fo r th e c o n s tru c tio n o f o ne -fa m ily h o u se s in Lee C o u n ty ra ise d th e v a lu a tio n o f re sid en tia l h o u sek e ep in g c o n tra c ts in th e S ta te to a n u n u su a lly high level, th e re by d isto rtin g th e y e a r-to -y e a r c ha ng e. I f th e c o n tra c t is exclude d, th e N o n re sid e n tia l c o n tra c ts in cre a se d 17.0 p e rc e n t in v a lu a tio n , c o m p a re d w ith 15.8 p e rc e n t n a tio n a lly . N o n b u ild in g c o n tra c ts , in c o n tra s t, dec line d 6.2 p e rc e n t in v a lu a tio n , c o m p a r e d w ith a 2 2 .2 -p erc en t n a tio n a l incre ase. S tre e t a n d high w ay c o n tra c ts , a c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d 40.2 p e rc e n t in v a lu a tio n v ersu s a 16.3-percent dec line n atio n ally . Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x , 19 7 6 = 1 0 0 15 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Fl o r i d a Bill ion $ Ch a r t Pe r c e n t Ch a r t 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 : I V - 1 9 7 S : I V T A B LE 6 — Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Fo u r t h Qu a r t e r , 19 78 ’ Fl o r i d a Un i t e d St a t e s St a t e U.S . 19 77:1V 19 78 :1 V 19 77:111 19 77:1V 19 78 :111 19 7 7:1V — 19 78 :1V 19 78 :111 19 78 : IV Per c e n No t season al ly adjus ted To t a l va l u a t i o n o f c o n t r a c t s ............................................................................................................... St a t e U.S . 1 9 7 7 :1 1 1 - c hange1 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 1,8 5 8 ,8 6 6 2 ,0 0 0 ,6 9 6 2 ,6 3 5 ,4 5 5 2 ,5 8 2 ,0 2 8 14 .5 4 1.8 16 .8 2 9 .1 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 2 8 7,3 5 9 2 8 8 ,70 3 3 6 2 ,74 7 3 4 7,0 9 4 16 .8 2 6 .2 14 .6 2 0 .2 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 3 ,9 12 4 ,114 3 ,8 5 0 3 ,5 5 2 4 .4 - 9 .3 - 1 3 .7 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 1,5 7 1,5 0 7 1,711,9 9 3 2 ,2 72 ,70 8 2 ,2 3 4 ,9 3 4 14 .0 4 4 .6 17 .4 3 0 .5 Fl o o r a r e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 5 6 ,78 2 5 6 ,3 9 8 74 ,16 0 78 ,5 11 10 .8 3 0 .6 10 .2 3 9 .2 Re s i d e n t i a l - 1 .6 housekeepi ng: Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 74 2 74 8 8 15 808 - 5 .1 9 .8 - 4 .3 8 .0 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 2 9 ,2 4 5 2 9 ,6 70 4 1,0 3 2 4 0 ,2 9 8 1.0 4 0 .3 - .6 3 5 .8 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 9 4 2 ,2 77 9 5 1,9 74 1,3 2 3 ,74 0 1,4 0 5 ,2 3 6 15 .3 4 0 .5 15 .6 4 7.6 Fl o o r ar e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 3 9 ,9 17 3 9 ,73 3 5 4 ,5 5 9 5 7,4 74 10 .3 3 6 .7 10 .7 4 4 .7 - 1 0 .0 Re s i d e n t i a l nonhouse keepin g: Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 505 49 55 43 49 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 16 ,9 8 1 10 ,8 3 8 18 ,8 78 18 ,4 0 0 Fl o o r a r e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 639 362 597 49 1 - 1 2 .2 9 .4 - .4 - 1 0 .9 1 1 .2 4 4 .8 6 9 .8 - .7 - 6 .6 2 4 .7 3 5 .8 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 2 ,5 0 0 2 ,5 4 4 2 ,114 2 ,0 5 6 - 2 .5 - 1 5 .4 - 1 2 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 3 9 1,13 4 4 6 8 ,0 2 7 6 4 1,2 75 5 4 7,5 8 8 2 7.6 6 4 .0 15 .8 - 1 9 .2 17.0 Fl o o r a r e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 16 ,2 2 6 16 ,3 0 3 19 ,0 0 4 2 0 ,5 4 6 12 .2 1 7 .1 8 .9 2 6 .0 2 2 .4 4 1.4 - 9 .1 - 1 6 .7 - .1 3 0 .6 2 2 .2 - 6 .2 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 6 21 76 7 8 78 639 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 2 1,115 2 8 1,15 4 2 8 8 ,8 15 2 6 3 ,710 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 16 5 23 5 249 20 5 9 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 9 4 ,5 0 4 15 1,8 2 7 9 3 ,0 3 3 9 0 ,8 2 2 3 .0 5 0 .9 - 1 .6 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 2 . Pe r c e n t c h a n g e s f o r f l o o r ar ea b ase d o n u n r o u n d e d d a t a N O T E.— De t a i l f o r f l o o r ar e a d a ta m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . - 1 7 .8 - 1 2 .8 - 1 6 .3 - 4 0 .2 I n f o r m a t i o n Sy s t e m s Co m p a n y . R e ta il S a le s n a tio n a l in cre ase (ta b le 7). In 1978:IV , n o n d u ra b le g o o d s a c c o u n te d fo r o v e r $6.3 b illio n, a n d d u ra b le g o o d s a c c o u n te d fo r o v e r $3.5 b illion. R eta il sales in F lo r id a to ta le d a lm o s t $9.9 billion in 1978:IV, up 14.2 p e rc e n t ($1.2 b illio n) since 1977:IV , c o m p a re d w ith a n 11.2 -pe rce n t T A B LE 7 .— Re t ai l Sa l e s , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Fl o r i d a U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 19 7 7:1V — 19 78 :111 19 78 :1V M ill io ns o f do l la rs , n ot seasonally adjus ted Pe r c e n t c h an g e Ret a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 7 ,6 7 2 8 ,6 6 4 8 ,6 6 1 9 ,8 9 0 10 .3 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . 3 ,19 6 3 ,5 4 2 11.8 — 15 .3 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7 ,4 4 7 n .a . n .a . 5 ,4 6 5 6 ,3 4 8 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . 12 .9 1 1.2 14 .2 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Fl o r i d a Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 Fl o r i d a St a t e US. US. 1 9 7 7 :1 1 1 19 77:1V 19 78 : I V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 10 9 ,4 11 n .a . 9 ,0 9 0 19 78 :1V 19 78 :111 Pe r c e n t c h an g e No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ St a t e 1 9 7 7 :1 V - 8 ,9 3 3 10 ,174 n .i . 8 .2 11.9 — — — To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .i . 35 38 21 n .a . - 9 .5 - 4 0 .0 — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 12 ,12 8 6 ,4 4 3 3 ,78 5 n .a . - 4 4 .2 - 6 8 .8 — — Ave r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 347 170 18 0 n .a . - 3 8 .4 - 4 8 .1 — — M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 2 9 3 n .a . - 1 0 .1 5 0 .0 — — C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 2 5 5 n .a . 1.0 15 0 .0 — — W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 6 7 2 n .a . - 2 7 .1 - 6 6 .7 Ret a i l t r a d e ........................................................................................................................................................................... 6 88 n .a . 23 13 9 n .a . - 4 .2 - 6 0 .9 Co m m e r c i a l s e r v i c e s ..................................................................................................................................................... 23 8 n .a . 2 4 2 n .a . - 2 4 .0 .0 Bu s i n e s s f a i l u r e s b y i n d u s t r y .. ---- — — — — — n .a .: Da t a n o t a v a i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 87 1979 1977:IV to 1978:IV Personal income — U p 11.3% vs. 12.6% in U .S., to $35.3 billion — P riv a te service-type p ay ro lls u p 9.0% vs. 13.1% in U .S. Consumer prices — U p 7.8% in A tla n ta vs. 8.9% in U .S. Employment — U p 3.3% vs. 3.9% in U .S., to 2.2 m illion Unemployment — D o w n 10,000, to 138,000 — R a te d ow n to 5.9% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 10.1% vs. 16.8% in U .S ., to $1.0 billion — V a lu a tio n o f n o n b u ild in g c o n tra c ts dow n 40.8% vs. 22.2% in crease in U .S. — N u m b e r o f d w e lling -u n it sta rts up 9.8% vs. n e a r sta b ility in U .S., to 10,941 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ge o r g i a Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 : IV Pe r c e n t c h an g e To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 3 0 ,6 5 2 3 1,73 4 3 4 ,3 8 6 3 5 ,3 2 3 12 .4 12.2 12.6 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 21,020 2 1,6 8 7 2 3 ,15 6 2 3 ,8 3 2 12.1 10.2 12.6 9 .9 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 2 ,13 1 2 ,1 4 1 2 ,2 0 4 4 .1 3 .5 3 .9 3 .3 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 16 1 14 8 14 4 13 8 5 .5 7.0 6 .5 6.1 5 .9 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6.2 2,212 - 9 .8 — - 1 0 .6 — — — To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 9 ,9 2 3 10 ,13 2 10 ,79 1 n .a . 16 .3 8 .7 — 9 2 5 ,5 11 n .a . 13 ,72 2 14 ,5 8 3 15 ,2 16 n .a . 11.5 10 .9 — To t a l v a l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 3 ,2 3 1,70 0 9 15 ,4 0 5 1,0 8 3 ,3 6 5 1,0 0 7,6 8 3 14 .5 - 6 6 .5 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 13 ,0 5 9 9 ,9 6 3 12 ,5 74 10 ,9 4 1 - 3 .7 -.6 To t a l r e t a i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 2 ,4 9 5 2 ,5 6 3 B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 44 18 5 .3 201.8 21 2 ,7 7 8 n .a . 28 n .a . 19 5 .2 19 8 .8 10 .3 8.2 - 9 .5 - 6 .7 - 8 .8 — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 1.0 11.3 — 11.2 — 10.1 9 .8 — 11 .3 — — - 3 6 .4 — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... A t l a n t a ........................................................................................................................................................................ n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 7.9 18 3 .0 18 4 .5 8 .9 6 .7 7.8 88 S TA TE Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS A n a ly s is P e r so n a l In c o m e T o ta l personal incom e (se a so n a lly a d ju s te d a t a n n u a l ra te s) inc re a se d 11.3 p e rc e n t from 1977:IV to 1978:IV, 1.3 p e rc e n ta g e p o in ts less th a n n a tio n a lly (ta b le 2). In 1978:IV, th e S ta te ’s p e rso n a l in c o m e to ta le d $35.3 b illio n, up $3.6 b illio n since 1977:1V. G e o rg ia ’s in cre ase in p e rso n a l in c o m e w ou ld have been sm alle r h a d it n o t been fo r a 6 2 .7 -p erc en t in cre ase in farm p e rso n a l in co m e , c o m p a re d w ith a 2 6 .3 -p erc en t n a tio n a l g ain . N o n fa rm p e rso n a l in co m e in th e S ta te in c re ased o nly 10.4 p e rc e n t from y e a r to yea r, a lm o s t 2 p e rc e n ta g e p o in ts less th a n n a tio n a lly . Since th e last n a tio n a l business cycle p e a k in 1973:IV, G e o rg ia ’s e c o n o m y h a s g ro w n m o re slow ly th a n th e N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in c o m e w as 5 p e rc e n t less th a n n a tio n a lly , ra n k in g G e o rg ia 3 9th a m o n g all S tates. F ro m 1977:1 V to 1978:1 V, th e C onsum er P rice Index fo r th e A tla n ta m e tro p o lita n a re a in c re a se d 7.8 p e rc e n t versus a n 8.9 -p erc e n t n a tio n a l city a v e rag e in cre a se (ta b le 3). I f A tla n ta ’s index is used a s a n in d ic a to r fo r p rice m o v em e n ts in th e S ta te , real to ta l p e rso n a l in c o m e in G e o rg ia inc re a se d b etw e en 3 a n d 4 p e rc e n t from y e a r to y ea r, th e sa m e as n a tio n a lly . Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V - 1 9 7 8 :1 V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t W a ge and salary disbursem ents (p a y ro lls) inc re a se d o n ly 9.9 p erc e n t in th e S ta te , c o m p a re d w ith a 12.6-percent n a tio n a l in crease. G e o r g ia ’s in cre ase ra n k e d 4 8 th in th e N a tio n , a h e a d o f sm alle r increases in N ew Y o rk a n d th e D istric t o f C o lu m b ia a n d a fra c tio n a l d ec line in A lask a. In 1978:IV, p ay ro lls to ta le d $23.8 billion in th e S ta te , u p $2.1 billion since 1977:IV. A ll c o m p o n e n ts o f G e o rg ia ’s p riv a te service-type in d u stry g ro u p inc re a se d m o re slow ly th a n n a tio n a lly , w ith S ta te increases in all four c o m p o n e n ts ra n k in g a m o n g th e sm allest in th e N a tio n . T ra d e payrolls, w hich a c c o u n te d fo r a lm o st o n e -fifth o f G e o rg ia ’s to ta l p ay ro lls in 1978:IV, increased 9.8 p e rc e n t from y e a r to y ea r, c o m p a re d w ith a 14.1pe rc e n t n a tio n a l in crease. P ay rolls in tra n s p o rta tio n -c o m m u n ic a tio n p u blic u tilities in c re ased o n ly 7.1 p e rc e n t in th e S ta te v ersus 11.3 p e rc e n t n a tio n a lly . Services p a y ro lls in c re a se d 8.7 p e rc e n t versus 12.7 p erc e n t n a tio n a lly , a n d p a y ro lls in fin an c e -in su ra n c e -re a l e sta te increased 9.9 p e rc e n t versus 13.2 p e rc e n t n a tio n a lly . C o n s tru c tio n p ay ro lls in c re a se d only 9.9 p e rc e n t in G e o rg ia , less th a n o n e - h a lf o f th e n a tio n a l incre ase. A m o n g all S ta tes, o nly A rk a n sa s registered a sm aller incre ase, a n d W e st V irginia a n d A la sk a re gistered declines. In g o v e rn m e n t, F e d e ra l p ay ro lls inc re a se d 4.2 p e rc e n t in G e o rg ia , o ne o f th e sm allest in creases in th e N a tio n , c o m p a re d w ith 7.1 p erc en t n a tio n a lly . In c o n tra s t, S ta te a n d local g o v e rn m e n t p a y ro lls increased 8.4 p e rc e n t in G e o rg ia , 1.6 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly . In c o n tra s t to m o st o f G e o rg ia ’s m a jo r in du stries, m a n u fa c tu rin g p a y rolls in c re a se d m o re ra p id ly in th e S ta te th a n n a tio n a lly — 14.3 p erc e n t versus 13.3 p e rc e n t. G e o rg ia ’s in cre ase re p rese n te d a g ain o f $765 m il lion, a n d this a c c o u n te d fo r ove r o n e -th ird o f th e to ta l y e a r-to -y e a r p a y roll gain in th e S ta te . N o n d u ra b le s m a n u fa c tu rin g p ay ro lls incre ased 12.3 p e rc e n t v ersu s 10.0 p e rc e n t n a tio n a lly , a n d d u ra b le s m a n u fa c tu rin g p ay ro lls increased 17.6 p e rc e n t versus 15.2 p e rc e n t n a tio n a lly . F ro m 1977:IV to 1978:IV , S ta te u n e m p lo y m e n t in s u ra n c e bene fits dec line d 17.7 p e rc e n t in G e o rg ia versus a d ec line o f 30.3 p erc e n t n a tio n a lly . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V Pe r c e n t □ Un i t e d St a t e s At l a n t a To t a l Pe r s o n a l M an u fac tu rin g Pr i v a t e Go v e r n m e n t In c om e W a g e s a n d Sa l a r i e s Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s C h a r t 3 .— To t a l Pe r s o n a l Inc om e Ch a r t 4 .— I n d u s t r i a l C o m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Ge o r g i a [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 T A B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ge o r g i a Un i t e d St a t e s 19 77:I V 19 78 :1V 19 77:1 19 77:1V 19 78 :111 U .S . St a t e 19 78 :111 19 78 :1V 19 78 :1V To t a l p e r s o n a l i n c o m e W a g e a n d s a l a r y d i s b u r s e m e n t s .......................... 1,78 2 ,5 19 3 0 ,6 5 2 3 1,73 4 3 4 ,3 8 6 3 5 ,3 2 3 12 .4 12 .2 12 .6 11.3 3 1,2 2 4 3 9 ,4 5 1 3 12 5 29 856 860 4 7.9 17 4 .1 2 6 .3 6 2 .7 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 3 0 ,3 4 0 3 1,2 0 5 3 3 ,5 3 0 3 4 ,4 6 3 11.9 10 .5 12 .3 10 .4 1,5 8 3 ,5 0 8 1,78 2 ,5 19 3 0 ,6 5 2 3 1,73 4 3 4 ,3 8 6 3 5 ,3 2 3 12 .4 12 .2 12 .6 11.3 1,0 13 ,2 16 1,14 0 ,6 9 6 2 1,0 2 0 2 1,6 8 7 2 3 ,15 6 2 3 ,8 3 2 12 .1 10 .2 12 .6 9 .9 17.0 14 .8 16 .4 13 .6 Ot h e r l a b or i n c o m e ...................................................... Pr o p r i e t o r s ' i n c o m e ...................................................... Fa r m .................................................................................... N o n f a r m .......................................................................... Di v i d e n d s , i n t e r e s t , a n d r e n t ................................. Tr a n s f e r p a y m e n t s ......................................................... St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s . 1,9 3 9 2 ,13 1 2 ,2 0 3 12 5 ,9 9 5 1,6 2 4 1,8 5 5 2 ,2 9 4 2 ,3 4 2 2 1.5 4 1.3 18 .9 2 6 .3 2 3 ,6 3 6 3 1,0 4 4 15 4 366 6 83 6 79 6 6 .6 3 4 4 .2 3 1.3 8 5 .6 8 2 ,3 17 9 4 ,9 5 1 1,4 70 1,4 8 9 1,6 12 1,6 6 3 12 .8 9 .6 15 .3 2 14 ,9 9 2 1 1 .7 2 4 2 ,4 4 2 3 ,4 0 2 3 ,4 8 1 3 ,8 0 5 3 ,9 11 12 .3 11.9 12 .8 2 15 ,9 4 4 12 .4 2 3 3 ,75 0 4 ,12 1 4 ,17 3 4 ,5 2 5 4 ,5 8 8 8 .8 9 .8 8 .2 10 .0 - 2 4 .0 - 1 6 .0 - 3 0 .3 — 1 7 .7 14 .8 12 .4 15 .1 7,75 3 16 3 14 5 13 7 119 71,6 10 1,2 76 1,3 0 4 1,4 3 4 1,4 5 8 -4 73 -9 4 -9 6 -9 2 1,0 13 ,2 16 1,14 0 ,6 9 6 2 1,0 2 0 2 1,6 8 7 2 3 ,15 6 2 3 ,8 3 2 12 .1 10 .2 12 .6 9 .9 7 ,1 7 6 7,9 3 9 15 5 15 9 16 9 177 8 .5 8 .8 10 .6 1,0 0 6 ,0 4 0 11.3 M i n i n g ................................................................................................................... Co n s t r u c t i o n ................................................................................................... M a n u f a c t u r i n g ................................................................................................ Du r a b l e g o o d s .......................................................................................... No n d u r a b l e g o o d s ................................................................................ Pr i v a t e s e r v i c e - t y p e .................................................................................. Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s W h o l e s a l e a n d r e t a i l t r a d e ............................................................. Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ....................................... Se r v i c e s ......................................................................................................... Go v e r n m e n t ..................................................................................................... Fe d e r a l ........................................................................................................... St a t e a n d l oc al ....................................................................................... Ot h e r ..................................................................................................................... De t a i l 1,8 5 6 -4 0 1 Fa r m ............................................................................................................................. 1 1 1 1 ,7 1 9 6 2 ,2 12 l e s s : p e r s o n a l c o n t r i b u t i o n s ................................. N o n f a r m ........................... ....................................................................................... 9 6 ,0 16 10 5 ,9 5 3 11,12 8 Pl u s : r e s i d e n c e a d j u s t m e n t ..................................... W ag e a n d s a l a r y d i s b u r s e m e n t s ................................................................... Pe r c e n t c h a n g e 2 1,5 8 3 ,5 0 8 Fa r m p e r so n al i n c o m e ........ No n f a r m p e r s o n a l i n c o m e -9 5 — — 1,13 2 ,7 5 7 2 0 ,8 6 5 2 1,5 2 8 2 2 ,9 8 8 2 3 ,6 5 5 12 .1 10 .2 12 .6 9 .9 18 ,8 13 95 91 110 114 2 6 .5 15 .0 3 3 .9 2 4 .6 6 6 ,8 5 8 1,0 6 5 1,0 6 8 1,16 8 1 ,1 7 3 19 .1 9 .7 2 0 .1 2 7 6 ,112 9 .9 3 12 ,9 70 5 ,2 17 5 ,3 5 4 5 ,8 2 6 6 ,119 12 .1 1 1 .7 13 .3 176 ,2 16 14 .3 2 0 3 ,0 5 3 1,9 4 0 2 ,0 2 0 2 ,173 2 ,3 76 13 .7 12 .0 15 .2 9 9 ,8 9 6 17.6 10 9 ,9 17 3 ,2 77 3 ,3 3 4 3 ,6 5 3 3 ,74 3 9 .4 11.5 10 .0 4 5 5 ,76 4 12 .3 5 15 ,3 4 8 9 .0 9 ,8 5 9 10 ,2 0 3 10 ,9 11 1 1 ,1 1 8 12 .8 10 .7 13 .1 76 ,5 8 4 8 5 ,2 6 4 1,8 9 0 1,9 71 2 ,0 74 2 ,1 11 10 .4 9 .7 11.3 7 .1 170 ,8 8 8 19 5 ,0 3 5 4 ,0 9 9 4 ,2 19 4 ,5 4 5 4 ,6 3 0 13 .6 10 .9 14 .1 9 .8 5 4 ,4 5 2 6 1,6 5 3 1 ,119 1,15 2 1,2 4 3 1,2 6 6 14 .1 1 1 .2 13 .2 9 .9 15 3 ,8 4 0 173 ,3 9 6 2 ,75 2 2 ,8 6 0 3 ,0 4 8 3 ,110 12 .6 10 .8 1 2 .7 2 0 1,2 5 2 8 .7 2 15 ,0 8 3 4 ,5 6 6 4 ,74 9 4 ,9 0 1 5 ,0 6 0 7.4 7.3 6 .9 6 .6 6 8 ,176 73 ,0 0 3 1,9 6 3 2 ,0 6 1 2 ,0 5 0 2 ,14 8 7.3 4 .4 7 .1 4 .2 13 3 ,0 76 14 2 ,0 8 0 2 ,6 0 3 2 ,6 8 7 2 ,8 5 0 2 ,9 12 7.5 9 .5 6 .8 8 .4 3 ,2 16 3 ,6 8 5 63 64 73 72 18 .7 15 .7 14 .6 11.8 So u r c e . U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Ge o r g i a U .S . St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 18 5 .3 u 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r eas b ase d o n t h e 19 70 Ce n s u s o f Po p u l a t i o n . 19 78 : I V 7.9 18 4 .5 St a t e 19 7 7:1V — Pe r c e n t c h a n g e 2 0 1.8 18 3 .0 US. 19 78 :111 i n d e x , I 9 b / = 1UU, n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ver a g e 2 1 .................................................................................................................................... — 14 ,0 4 8 m ay n ot ad d to to ta ls bec ause of ro un din g. A t l a n t a ..................................................................................................................................................... 11.9 — 5 5 ,6 4 8 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . St a t e 1 9 7 7 :1 V - M il li o n s o f do ll ar s , seasonally ad ju s te d at an n u al rate s' To t a l p e r s o n a l i n c o m e U.S . 19 77:111— 19 5 .2 19 8 .8 8 .9 6 .7 c vi o c u u d i d d i e u aeu i u i m e q u a r t e r s p r i o r t o Ja n u a r y i y / o , a n d r e vi s e d d a t a a r e us s u b s e q u e n t q u a r t e r s . Us e r s ar e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 7.8 S TA TE Q U A R T E R L Y 90 E C O N O M IC D EVELO PM EN TS L abor F orce A m o n g G e o r g ia ’s m a jo r m e tr o p o lita n a r e a s , p r e lim in a r y u n e m p lo y m e n t ra te s fo r D e c em b e r 1978, w he n th e S ta te ’s ra te w a s 5.7 p e rc e n t, ra n g e d from 6.4 p e rc e n t in C o lu m b u s, M a c o n , a n d S a v a n n a h to 5.5 p erc e n t in A u g u sta . In A tla n ta , w hich a c c o u n te d fo r a lm o s t tw o fifths o f th e S ta te ’s to ta l la b o r force in 1978:IV, th e p re lim in a ry u n e m p lo y m e n t ra te in D e c em b e r 1978 w as 5.7 p e rce nt. F ro m D e c em b er 1977 to D e c em b er 1978, th e u n e m p lo y m e n t ra te dec line d 2.3 p e rc e n ta g e p o in ts in M a c o n , c o m p a re d w ith a d ec line o f only 0.4 p e rc en tag e p o in t sta te w ide ; M a c o n ’s decline w as th e large st am o n g th e S ta te ’s m a jo r m e tro p o lita n areas. F ro m 1977:IV to 1978:1V, G e o rg ia ’s civilian labor force in c re a se d 2.7 p e rc e n t v ersu s 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in cre a se d 3.3 p e rc e n t versus 3.9 p e rc e n t n a tio n a lly , to 2.2 m illion. W ith e m p lo y m e n t in c rea sin g by 71,000 a n d th e la b o r force inc re a sing by 61,000, th e n u m b e r o f unemployed dec lin ed by 10,000, to 138,000. G e o rg ia ’s unemployment rate dec line d 0.6 p erc e n ta g e p o in t, to 5.9 p e rc e n t o f th e la b o r force. The n a tio n a l u n e m p lo y m e n t ra te in 1978:1V w a s 5.5 p e rc e n t, d o w n 0.7 p e rc e n ta g e p o in t from th e 1977:1V level. Ch a r t Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ge o r g i a M il li o n s 2 .5 6 .— U n e m p l o y m e n t Ra t e s , 1 9 7 7 :1 V - 1 9 7 8 :1 V P e rce n t -- 1 0 .0 - - U n ited S tates T A B LE 4 — La b o r Fo r c e , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Georgia Fo u r t h Qu a r t e r , 19 78 Ge o r g i a Un i t e d St a t e s St a t e U.S . U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 19 7 7:1V — 19 77:111— 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ...................................................................................... 8 4 ,2 10 8 7,70 8 1,8 9 6 1,9 2 5 1,9 4 0 1,9 6 3 4 .3 2 .3 4 .2 2 .0 M i n i n g ...................................................................................................................................................................................... 78 7 899 7 7 8 7 8 .2 5 .6 14 .2 4 .2 8 .2 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 92 91 10 0 99 10 .4 8 .9 11.3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 49 1 49 4 501 506 3 .1 2 .0 3 .7 2 .6 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 12 0 12 1 12 6 12 5 3 .8 4 .9 4 .4 3 .9 W h o l e s a l e a n d r e ta i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 43 5 446 445 45 3 5 .3 2 .1 4 .5 1.5 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 10 0 10 0 10 2 10 2 4 .8 1 .7 - 2 .0 2 .5 S e r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 28 6 28 3 28 8 28 7 4 .6 1 . 0 4 .4 1.2 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 366 383 3 72 38 3 2 .1 1 .7 1.4 - .1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 2 ,2 9 1 2 ,2 8 9 2 ,3 4 8 2 ,3 5 0 3 .2 2 .5 3 .1 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 2 ,13 1 2 ,14 1 2 ,2 0 4 2 ,2 12 4 .1 3 .5 3 .9 3 .3 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 16 1 14 8 14 4 13 8 - 8 .8 - 6 .7 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 7.0 6 .5 6 .1 _ _ _ _ __ _ L 2 _ __ __ _ 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a ar e b ei n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e ak in t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w he n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , B u r e a u o f La b o r St a t i s t i c s . - 9 .8 — - 1 0 .6 — — 2 .7 A p r il 91 1979 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e I n d e x , 19 72 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t I n d e x, 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t 9 .— U n e m p l o y m e n t Ra t e . Ch a r t M il li o n s 1 0 — I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Ge o r g i a 92 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS C o m m er cia l B a n k in g D u e to c ha nges in th e d a ta re p o rtin g p rac tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu d e th e com m e rcial b a n k in g discussion a n d th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l B a n k i n I n d i c a t o r s , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ge o r g i a Un i t e d St a t e s U.S . St a t e US. 19 77:1V 19 78 :1V 19 77:11 19 77:1V 19 78 :111 19 78 :1V 6 10 ,5 0 2 n .a . 9 ,9 2 3 10 ,13 2 19 78 :1V 19 78 :111 Pe r c e n t c h an g e2 M il li o n s o f do l la rs , n o t seaso nally ad ju s te d ' To t a l l o a n s ....................................................................................................................................................... St a t e 1 9 7 7 :1 V - 19 7 7:111- 10 ,79 1 n .a . 16 .3 8 .7 — _____ — ___ — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 2 ,6 3 1 2 ,74 5 2 ,9 0 3 n .a . 14 .2 10 .3 Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 3 ,3 9 7 3 ,4 9 7 3 ,8 4 7 n .a . 2 0 .2 13 .2 Re a l e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 2 ,8 9 6 2 ,9 3 6 3 ,12 5 n .a . 19 .9 7.9 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,2 0 6 1,2 7 1 1,4 0 8 n .a . 2 1.3 16 .8 — — — Fa r m s ................................................................................................................................................................................... 7 ,73 1 n .a . 347 33 3 3 40 n .a . 1 0 .7 - 2 .1 — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 1,3 4 3 1,3 3 2 1,3 7 7 n .a . 19 .0 2 .5 — — Fa r m s , e xc l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 349 30 3 3 11 n .a . 6 .8 - 1 0 .8 — — 651 605 n .a . 8 .0 - 6 .9 — — 15 ,2 16 n .a . Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 650 To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 13 ,72 2 D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 6 ,4 5 2 7,10 5 7,13 0 n .a . 10 .2 10 .5 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 7,2 70 7,4 7 8 8 ,0 8 5 n .a . 12 .3 11.2 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . 14 ,5 8 3 11.5 10 .9 — — — ___ — — A p r il 1979 93 C o n str u c tio n F ro m 1977:1V to 1978:IV, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 10.1 p e rc e n t ($92.3 m illion), to $1.0 billion (ta b le 6). T he n a tio n a l in cre ase w a s 16.8 p erc e n t. N a tio n a l c o n s tru c tio n costs in c re a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e s p a n , a n d if th is in crease is re p re s e n ta tiv e o f th e in cre ase th r o u g h o u t th e S ta te, th e to ta l v a lu a tio n o f c o n tra c ts su s ta in e d a real dec line o f a b o u t 3 p e rc e n t versus a real in cre ase o f a b o u t 4 p e rc e n t n a tio n a lly . N o n b u ild in g c o n tra c ts dec lin ed 40.8 p e rc e n t in v a lu a tio n versus a 22.2p e rc e n t n a tio n a l in crease. G e o rg ia ’s dec line w a s o ne o f th e large st in th e N a tio n . T h e v a lu a tio n o f stre e t a n d h ig hw ay c o n tra c ts , a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d 50.0 p e rc e n t, th re e tim es th e n a tio n a l decline. Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n N o n re sid e n tia l c o n tra c ts in c re a se d 27.4 p e rc e n t in v a lu a tio n v ersu s 15.8 p erc e n t n a tio n a lly . In 1978:IV, th e v a lu a tio n o f th e se c o n tra c ts to ta le d $314.7 m illion in th e S ta te , in cluding $53 m illion fo r th e c o n s tru c tio n o f a p a p e r p la n t in C h a th a m C o u n ty . Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ge o r g i a Bil l io n $ I n d e x , 19 7 6 = 1 0 0 Ch a r t Pe r c e n t R e sid en tia l h o u se k e e p in g c o n tra c ts in c re a se d 15.5 p e rc e n t in v a lu a tio n , a b o u t th e sam e as n a tio n a lly . T h e n u m b e r o f dw e lling u n its s ta rte d incre ased 9.8 p e rc e n t (978 u n its), to 10,941 u n its. N a tio n a lly , the n u m b e r o f d w elling u n its s ta rte d w a s a lm o s t u n c h a n g e d a t a h igh level. C o n tra c ts fo r re sid e n tia l h ou se k e e p in g a d d itio n s a n d a lte ra tio n s incre ased 27.8 p e rc e n t in v a lu a tio n , a lm o s t tw ice a s m u c h as n a tio n a lly . 1 6 — Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 7 7 :t V — 1 9 7 8 :I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s 19 77:1V 19 78 :1V U.S . Ge o r g i a 19 77:111 19 77:1V 19 78 :111 St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s ............................................................................................................... U.S . 19 77:111— Pe r c e n t c h an g e2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 3 ,2 3 1,70 0 9 15 ,4 0 5 1,0 8 3 ,3 6 5 1,0 0 7,6 8 3 14 .5 - 6 6 .5 16 .8 10 .1 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 176 ,3 78 15 3 ,8 19 2 0 9 ,74 3 19 6 ,5 6 3 16 .8 18 .9 14 .6 2 7.8 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,9 2 0 1,8 10 1,8 3 4 1,5 ) 6 4 .4 - 4 .5 - 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 3 ,0 5 5 ,3 2 2 76 1,5 8 6 8 73 ,6 2 2 8 11,12 0 14 .0 - 7 1 .4 17 .4 6 .5 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 2 5 ,0 5 9 2 3 ,4 5 7 2 7,4 4 5 2 5 ,4 5 6 10 .8 9 .5 10 .2 8 .5 - 1 2 .9 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 568 536 559 56 7 - 5 .1 - 1 .6 - 4 .3 5 .8 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 13 ,0 5 9 9 ,9 6 3 12 ,5 74 10 ,9 4 1 1.0 - 3 .7 - .6 9 .8 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 4 0 5 ,173 3 3 0 ,770 4 4 4 ,6 74 3 8 1,9 79 15 .3 9 .7 15 .6 15 .5 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 18 ,116 14 ,70 5 19 ,0 5 5 16 ,5 2 0 10 .3 5 .2 10 .7 12 .3 - 1 0 .0 15 5 .6 *** Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 5 05 9 8 23 18 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 8 46 1,6 6 0 14 ,74 5 6 ,6 6 7 Fl o o r ar e a (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 14 16 23 4 16 8 - .7 9 .4 * * * - .4 12 5 .0 4 4 .8 3 0 1.6 2 4 .7 9 2 8 .2 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 72 1 76 7 8 22 715 - 2 .5 14 .0 — 12 .0 - 6 .8 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 2 4 4 ,2 77 2 4 7,0 2 4 2 13 ,9 8 3 3 14 ,6 8 3 2 7.6 - 1 2 .4 15 .8 2 7.4 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 6 ,9 2 9 8 ,73 5 8 ,15 7 8 ,76 8 12 .2 1 7 .7 8 .9 .4 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 6 22 49 9 430 2 76 2 2 .4 - 3 0 .9 - 9 .1 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 ,4 0 5 ,0 2 6 18 2 ,13 2 2 0 0 ,2 2 0 10 7,79 1 - .1 - 9 1 .7 2 2 .2 — 4 4 .7 - 4 0 .8 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 431 2 77 16 6 10 1 9 .3 - 6 1 .5 - 1 7 .8 - 6 3 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 113 ,76 6 9 2 ,8 74 4 9 ,6 2 9 4 6 ,4 5 2 3 .0 - 5 6 .4 - 1 6 .3 - 5 0 .0 St a t e U.S . St a t e “ • Pe r c e n t c h an g e g r e a t e r t h a n 9 9 9 .9 . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . I n f o r m a t i o n Sy s t e m s Co m p a n y . N O T E.— De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Pe r c e n t c h a n g e s f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a R e ta il S a le s R eta il sales d a ta fo r G e o rg ia a re n o t a v a ila ble. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ge o r g i a Un i t e d St a t e s U .S . i m 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :I V I I- 19 71 :l l l 19 78 :1V M il lio ns of dol lar s, n ot seasonally adjus ted Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . Pe r c e n t c h an ge n .a . n .a . 10 .3 — 11.2 — 15 .3 _______ 9 .2 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 1 1.8 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7 ,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — n .a .: Da t a n o t a va i l a b l e . 19 7 7:1V — — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ge o r g i a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ge o r g i a Un i t e d St a t e s U .S . St a t e U.S . 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. To t a l n u m b e r o f b u s i n e s s f a i l u r e s ......................................................................................... .... 10 9 ,4 11 1,6 8 4 n .a . n .a . 2 ,4 9 5 44 S 19 78 :1V 1 > 19 77:1V St a t e ^ CD 1 9 7 7 :1 1 1 - Pe r c e n t c h an g e 2 ,5 ( 3 21 2 ,778 28 n .a . n .a . 8 .2 - 9 .5 11.3 — - 3 6 .4 — — — — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 7 ,19 7 5 ,5 6 1 13 ,3 8 1 n .a . - 4 4 .2 8 5 .9 — Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 16 4 26 5 4 78 n .a . - 3 8 .4 19 1.5 — — Bu s i n e s s fai l u r es b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 24 8 n .a . 5 2 3 n .a . - 1 0 .1 - 4 0 .0 — — C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 14 3 8 n .a . 1.0 - 4 2 .9 — — — W h o l e s a l e t r a d e .............................................................................................................................. .................................. 19 1 n .a . 9 4 3 n .a . - 2 7 .1 - 6 6 .7 — Re t a i l t r a d e ........................................................................................................................................................................... 6 88 n .a . 10 9 13 n .a . - 4 .2 3 0 .0 — — Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 6 3 1 n .a . - 2 4 .0 - 8 3 .3 — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & Br a d s t r e e t, In c . N O T E.— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 95 1979 O H A W A II H ig h lig h ts 1977:IV to 1978:IV Personal income — U p 9.8% vs. 12.6% in U .S ., to $7.7 billion — T ra d e p ay ro lls u p 9.1% vs. 14.1% in U .S. — Services p ay ro lls up 3.7% vs. 12.7% in U .S . Consumer prices — U p 8.6% in H o n o lu lu vs. 8.9% in U .S. Employment — U p 0.9% vs. 3.9% in U .S ., to 376,000 Unemployment — U p 3,000, to 32,000 — R a te up 0.5 p e rc en tag e p o in t, to 7.8% o f la b o r force vs. 5.5% in U .S. Construction — T o ta l v a lu a tio n o f c o n tra c ts up 58.6% , large st ga in in U .S ., vs. 16.8% n a tio n a lly , to $236 m illion — N u m b e r o f d w e lling -u n it s ta rts d o u b le d vs. n e a r stab ility in U .S., to 2,773 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ha w a i i Un i t e d St a t e s U.S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:1V 19 77:111 19 78 :111 19 78 :1V 19 78 :111 19 78 :1V Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 13 ,6 0 8 1,78 2 ,5 19 St a t e 1 9 7 7 :1 V - Pe r c e n t c h a n g e 7,0 3 0 7 ,4 7 3 7 ,7 2 1 12 .4 9 .6 12 .6 9 .8 4 ,6 4 5 4 ,74 5 5 ,0 6 8 5 ,2 5 0 1 2 .1 9 .1 12 .6 10 .6 380 3 73 3 76 3 76 29 31 32 6 ,8 19 To t a l w ag e s a n d s a l a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 29 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 7 .1 7.3 7 .7 7.8 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 2 ,0 15 2 ,0 9 0 2 ,3 8 4 n .a . 16 .3 18 .3 — — To t a l d e p o s i t s ( m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 3 ,116 3 ,2 0 1 3 ,5 15 n .a . 1 1.5 12 .8 — — To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 15 3 ,73 0 14 9 ,15 7 2 2 0 ,4 0 3 2 3 6 ,19 9 14 .5 4 3 .4 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,77 2 4 4 3 ,0 75 1,4 18 1,3 4 0 1,6 4 7 2 ,7 7 3 1.0 16 .1 - .6 To t a l r e ta i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 6 75 657 72 7 n .a . 8 .2 B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 0 0 8 n .a . 18 5 .3 2 0 1.8 173 .4 174 .9 18 6 .0 19 0 .0 - 1 .0 4 .1 - 9 .8 — 7.9 — - 9 .5 3 .9 .9 - 8 .8 9 .7 — — — 1 1 .2 7 .7 — 5 8 .4 10 6 .9 — — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... H o n o l u l u ..................................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : See t a b l e s 2 t h r o u g h 8 . 7.9 8 .9 Z i 8 .6 96 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju ste d a t a n n u a l ra te s) in H a w aii in cre a se d 9.8 p e rc e n t from 1977:IV to 1978:IV, to $7.7 billion (ta b le 2). T h e ra te o f g ain lagged th e N a tio n ’s 12.6-percent ra te o f ga in a n d w as lo w e r in o n ly th r e e S ta te s . Consum er prices in th e H o n o lu lu m e tro p o lita n a re a in c re ased 8.6 p e rc e n t versus 8.9 p e rc e n t n a tio n a lly (ta b le 3). If th is in crease is used as a n in d ic a to r fo r p rice increases th r o u g h o u t th e isla nd s, real to ta l p e rso n a l in co m e in c re a se d 1.2 p e rc e n t from y e a r to y ea r, c o m p a re d w ith 3.7 p e rc e n t n atio n ally . W age and salary disbursements (pa y ro lls) inc re a se d 10.6 p erc e n t, to $5.2 b illion. P a y ro lls in tw o o f th e S ta te ’s m a jo r in d u strie s— tra d e a n d services— re g iste re d g a ins th a t lagged th o se o f n a tio n a l c o u n te rp a rts a n d th a t w e re a m o n g th e sm allest a m o n g all S tates. T ra d e p ay ro lls Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V [ Se a s o n a l l y a d j u s t e d ] inc re a se d 9.1 p erc e n t, c o m p a re d w ith 14.1 p e rc e n t n a tio n a lly , to $835 m illion. Services p ay ro lls inc re a se d 3.7 p erc e n t, c o m p a re d w ith 12.7 p e rc e n t n a tio n a lly , to $864 m illion. C o n s tru c tio n p ay ro lls inc re a se d 35.1 p e rc e n t, an in crease th a t w as 15 p e rc e n ta g e p o in ts a b o v e th e N a tio n ’s a v e rag e incre ase a n d th a t was la rg e r only in N e v a d a a n d A riz o n a . T h e S ta te ’s large ga in w as from an u n u su a lly low level in 1977:IV, w hen c o n s tru c tio n w ork e rs w ere on strik e fo r tw o a n d o n e -h a lf m o n th s. N o n d u ra b le s m a n u fa c tu rin g p a y rolls in c re ased 17.3 p erc e n t, o n e o f th e large st g ains in th e N a tio n a n d well a bo v e th e 10.0-percent n a tio n a l gain. T ra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities p ay ro lls increased 13.7 p erc e n t, c o m p a re d w ith a n a tio n a l in cre ase o f 11.3 p e rce nt. F in a nc ein su ra n c e -re a l e sta te p ay ro lls in c re ased 14.5 p e rce nt, lead in g the N a tio n ’s 13.2-percent gain. W hile S ta te a n d local g o v e rn m e n t p a yro lls in c re a s e d 6.9 p e r c e n t, a b o u t th e sa m e as n a tio n a lly , F e d e r a l G o v e rn m e n t p ay ro lls inc re a se d 9.3 p e rc e n t, over 2 p e rc e n ta g e p o in ts m o re th a n n atio n a lly . S ta te u n e m p lo y m e n t in su ra n c e b e ne fits dec line d 54.5 p erc e n t, from $62 m illion in 1977:IV to $28 m illion in 1978:IV; only C o n n e c tic u t re gistered a la rg e r decline. Pe r c e n t Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V Pe r c e n t □ U n i t e d St a t e s Ho n o l u l u To t a l Pe r s o n a l M an u fac tu r in g In c o m e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e - t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Ha w a i i 3 .— To t a l Pe r s o n a l I n c o m e [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 Billio n J T A B LE 2 ,— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ha w a i i n i t e d St a t e s U .S . U .S . St a t e 19 77:111— 18 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V — 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e ’ M i l l i o n s of d o l l ar s , season al l y ad j u s ted at an n u al r ates1 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 6 ,8 19 7,0 3 0 7,4 73 7,72 1 12 .4 Fa r m p e r s o n a l i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 170 229 16 8 175 4 7.9 9 .6 12 .6 - 1 .3 9 .8 2 6 .3 - 2 3 .5 11.0 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 6 ,6 4 9 6 ,8 0 1 7,3 0 5 7,5 4 6 11.9 9 .9 12 .3 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 6 ,8 19 7,0 3 0 7,4 73 7 ,72 1 12 .4 9 .6 12 .6 9 .8 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 4 ,6 4 5 4 ,74 5 5 ,0 6 8 5 ,2 5 0 12 .1 9 .1 12 .6 10 .6 Ot h e r l a b or i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 324 333 36 7 38 1 17.0 13 .5 16 .4 14 .5 Pr o p r i e t o r s ' i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 28 8 341 305 3 18 2 1.5 6 .0 18 .9 - 7 .0 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 17 69 2 2 3 1.3 - 9 6 .9 6 6 .6 - 8 7 .2 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 2 71 2 72 303 3 15 12 .8 11.8 15 .3 15 .9 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 9 86 1,0 0 7 1,10 8 1,14 2 12 .3 12 .4 12 .8 13 .4 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 8 70 896 9 47 962 8 .8 8 .9 8 .2 7.3 62 32 28 - 2 4 .0 - 3 8 .7 - 3 0 .3 - 5 4 .5 14 .8 St a t e u n e m p l o y m e n t I n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 53 Le s s : p e r s o n a l c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 7 1,6 10 29 3 29 3 3 23 331 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 0 0 0 0 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 4 ,6 4 5 4 ,74 5 5 ,0 6 8 5 ,2 5 0 12 .1 9 .1 12 .6 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 13 9 14 4 15 0 15 6 8 .5 7.9 10 .6 8 .3 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 4 ,5 0 6 4 ,6 0 1 4 ,9 18 5 ,0 9 4 12 .1 9 .1 12 .6 10 .7 10 .2 — — 15 .1 13 .0 — — 10 .6 — M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 0 0 0 0 2 6 .5 C o n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 330 29 1 3 75 393 19 .1 13 .4 2 0 .1 M a n u f a c t u r i n g ....................................................................................................................................................... 2 76 ,112 3 12 ,9 70 26 3 25 0 2 70 293 12 .1 2 .8 13 .3 17 .1 Du r a b l e g o o d s .................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 62 64 68 75 13 .7 10 .5 15 .2 16 .5 17.3 — 3 3 ,9 3 5 .1 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 20 1 18 6 20 2 2 18 9 .4 .4 10 .0 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 2 ,2 2 8 2 ,3 0 3 2 ,4 2 9 2 ,5 0 2 12 .8 9 .1 13 .1 8 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 40 3 406 449 46 2 10 .4 1 1.2 11.3 13 .7 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 75 0 76 5 8 18 835 13 .6 9 .1 14 .1 9 .1 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 26 8 29 8 332 342 14 .1 2 3 .6 13 .2 14 .5 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 8 06 833 831 864 12 .6 3 .1 12 .7 3 .7 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 1,6 6 5 1,7 3 7 1,8 2 0 1,8 8 2 7.4 9 .3 6 .9 8 .4 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 1,0 0 2 1,0 6 1 1,10 7 1,15 9 7.3 10 .5 7.1 9 .3 St a t e a n d l oc al ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 663 6 76 713 72 3 7.5 7.5 6 .8 6 .9 _ _ _ _ _ _ 3 ,2 16 3 .6 8 5 20 21 24 24 18 .7 19 .9 14 .6 16 .6 --------- QU i e r - 1. De t a i l .................................................................................................................................. m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , B u r e a u o f Ec o n o m i c An a l y s i s , Reg i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Bas e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Haw a i i Un i t e d St a t e s U .S . St a t e 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V U .S . c i t y a ver a g e 2 1 ........................................................................................................................................ 18 5 .3 1 . Co n s u m e r Pr i c e I n d e xe s ar e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b a se d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . d a ta a r e a va i l a b l e . Ce n s u s o f Po p u l a t i o n . 19 78 :1V Pe r c e n t c h an ge 7.9 2 0 1.8 173 .4 174 .9 St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d H o n o l u l u ................................................................................................................................................................................ U.S . 18 6 .0 19 0 .0 8 .9 7.3 8 .6 N O T E.— Un r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m aki ng c o m p ar is on s ove r ti m e . S T A T E Q U A R T E R L Y E C O N O M IC 98 D EVELO PM EN TS L a b o r F o rce F ro m 1977:1 V to 1978:IV, H a w a ii’s civilian labor force in cre a se d 1.6 p erc e n t, o r a b o u t o n e -h a lf o f th e N a tio n ’s ave rag e a d v a n c e (ta b le 4). Total employment in cre a se d fro m 373,000 to 376,000, a 0 .9-pe rc e nt a dv a n c e . T h e a d v a n c e w a s o n e o f th e sm allest in th e N a tio n a n d w a s 3 p e rc e n ta g e p o in ts below th e n a tio n a l a v e rag e adv an ce. p e rc e n t o f th e la b o r fo rce, a ra te m a tc h e d in th e D is tric t o f C o lu m b ia a n d exceeded o n ly in A la s k a . In c o n tra s t, th e N a tio n ’s u n e m p lo y m e n t ra te dec line d 0.7 p e rc e n ta g e p o in t, to 5.5 p e rce nt. A c ross th e isla nd s, u n e m p lo y m e n t ra te s v a rie d so m e w h a t. A c c o rd in g to p re lim in a ry d a ta fo r D e c em b er 1978, th e u n e m p lo y m e n t ra te on O a h u w as 7.0 p erc e n t. T h e a v e rag e ra te fo r all o f th e o th e r isla nd s w as 8.1 p e rce nt. T he p re lim in a ry S ta te ra te w a s 7.2 p e rce nt. W ith e m p lo y m e n t in cre a sin g by o nly 3,000 a n d th e la b o r force in c re a sin g by 6,000, th e n u m b e r o f unemployed in c re a se d by 3,000. H a w a ii’s unemployment rate in c re a se d 0.5 p e rc e n ta g e p o in t, to 7.8 C h a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ha w a i i Ch a r t 6 .— U n e m p l o y m e n t Ra t e s , 19 77:1V — 19 78 :1V Percent ^ 19 77 :I V 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ha w a i i Un i t e d St a t e s U .S . St a t e U.S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 19 78 :1V Pe r c e n t c h a n g e 1 2 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 36 0 354 367 368 M i n i n g a n d s e r v i c e s ....................................................................................................................................................... 16 ,3 2 6 1 7 ,1 1 4 85 86 88 90 C o n s t r u c t i o n ....................................................................................................................................................................... St a t e 19 7 7:1V — 2 .0 4 .3 — 4 .2 4 ,0 3 2 4 ,4 8 8 20 17 20 21 10 .4 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 25 21 26 23 3 .1 1.2 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 29 28 29 29 3 .8 1 .1 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 91 91 92 92 5 .3 3 .8 — 3 .3 - .5 4 .2 11 .3 2 1.2 3 .7 10 .0 4 .4 1.8 1.0 4 .5 1.2 . Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 25 25 25 26 4 .8 2 .4 - 2 .0 3 .6 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 85 86 87 88 2 .1 2 .7 1.4 2 .1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 40 9 40 2 408 409 3 .2 - .4 3 .1 1.6 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 380 3 73 3 76 3 76 4 .1 - 1 .0 3 .9 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 29 29 31 32 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 7 .1 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n ew m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e ak in t h e s e r i e s , a n d u se r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 7.3 7 .7 7.8 - 9 .8 — 7.9 — .9 - 8 .8 — 9 .7 — A p r il 1979 99 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e I n d e x , 19 72 = 10 0 Em p l o y m e n t In d e x, 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t 8 .— Ci v i l i a n 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n Th o u s a n d s o f No n a g r i c u l t u r a l Em p l o y m e n t : Ha w a i i 100 STATE Q UARTER LY E C O N O M IC DEVELOPM ENTS C o m m er cia l B a n k in g D u e to c ha n ge s in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r this re p o rt to in clu de th e c o m m erc ia l b a n k in g d iscu ssio n a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c om m e rc ia l b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s U.S . Ha w a i i St a t e U.S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 6 10 ,5 0 2 n .a . 2 ,0 15 2 ,0 9 0 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 M i l l i o n s o f d o l l a r s , n o t se i s o n a l l y a d j u s t e d 1 To t a l l o a n s ....................................................................................................................................................... St a t e 19 7 7:1V — 2 ,3 8 4 n .a . 16 .3 18 .3 — — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 458 4 73 5 40 n .a . 14 .2 18 .0 — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 45 1 4 73 550 n .a . 2 0 .2 2 1.8 — — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 967 992 1,10 3 n .a . 19 .9 14 .1 — — — — — — — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 6 25 664 75 6 n .a . 2 1.3 2 1.0 Fa r m s ................................................................................................................................................................................... 7 ,7 3 1 n .a . 9 6 7 n .a . 10 .7 - 2 1 .4 Ot h e r ................................................................................................................................................................................... 6 8 ,9 6 8 n .a . 333 322 339 n .a . 19 .0 2 .1 Fa r m s , e xc l u d i n g r e al e s t a t e .................................................................................................................- ............... 2 5 ,70 4 n .a . 12 15 14 n .a . 6 .8 10 .1 6 9 ,9 4 7 n .a . 12 7 13 7 17 7 n .a . 8 .0 3 9 .9 9 2 5 ,5 11 n .a . 3 ,116 3 ,2 0 1 3 ,5 15 n .a . 11.5 12 .8 — — — — To t a l d e p o s i t s ................................................................................................................................................. — — — — D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 1,0 8 8 1,2 0 4 1,2 16 n .a . 10 .2 1 1 .7 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 2 ,0 2 8 1,9 9 7 2 ,2 9 9 n .a . 12 .3 13 .4 — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d data. So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 1 01 C o n str u c tio n In c o n tra s t, in th e N a tio n , th e n u m b e r o f dw elling u n its s ta rte d w as a lm o st u n c h a n g e d a t a high level. T h e v a lu a tio n o f c o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o u se k e e p in g u n its rose 28.6 p erc e n t, a lm o s t tw ice th e n a tio n a l a v e rag e gain. T h e to ta l v a lu a tio n o f c o n tra c ts in H a w a ii ro se 58.4 p e rc e n t from 1977:1V to 1978:IV, fa r exceeding th e N a tio n ’s 16.8-percent g a in a n d ra n k in g first a m o n g all S ta te ga in s (ta b le 6). P a rt o f th e sh a rp y e a r-to y e a r g a in , h ow e ver, w a s d u e to th e m a k e u p fro m th e effects o f th e iro n w o r k e rs ’ strik e , w hich h a d la ste d from A u g u s t 1977 un til D e c em b er o f th a t y e a r a n d w hich h a d de pre ssed th e to ta l v a lu a tio n o f c o n tra c ts in 1977:1 V. In 1978:1 V, th e to ta l v a lu a tio n o f c o n tra c ts re a ch e d $236 m il lio n, u p $87 m illion from a y e a r p re vio us. L a rg e c o n tra c ts fo r on e-fam ily h o u ses in H o n o lu lu , to ta lin g o v e r $31 m illio n , h e lp e d to in c re a s e th e to ta l v a lu a tio n o f r e s id e n tia l h o u sek e ep in g c o n tra c ts by o n e -a n d -o n e -h a lf tim e s, to $124 m illion in 1978:IV. H a w a ii’s p e rc e n t g ain, w hich w a s exceeded o n ly by W e st V irg in ia’s, fa r o u tp a c e d th e N a tio n ’s g a in o f 15.6 p erc e n t. T h e n u m b e r o f dw elling u n its s ta rte d ro se 106.9 p e rc e n t, fro m 1,300 in 1977:1V to 2,800 in 1978:IV; th e p e rc e n t ga in w a s exceeded o n ly by W e st V irgin ia ’s. Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n T h e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts rose 9.7 p e rc e n t, c o m p a re d w ith a 15.7-perc en t n a tio n a l g ain . In 1978:IV , th e v a lu a tio n to ta le d $ 42 . m illion, in c lu d in g a n $11 m illion c o n tra c t for a u n iv e rsity b u ild in g in H o n o lu lu . W ith o u t th is c o n tra c t, th e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts in th e S ta te w o u ld have d ec lin ed 18.2 p e rc e n t. Ch a r t 15 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ha w a i i M il li o n $ I n d e x , 19 7 6 = 10 0 Ch a r t Pe r c e n t S tre e t a n d h ighw a y c o n tra c ts nea rly trip le d in v a lu a tio n fro m y e a r to yea r, in s h a r p c o n tra s t to a 16.3-perc en t d ec lin e n a tio n a lly . T h e v a lu a tio n o f all n o n b u ild in g c o n tra c ts (in c lu d in g stre e ts a n d h ighw ays) in H a w a ii w a s a b o u t u n c h a n g e d , a t $32 m illio n . N a tio n a lly , n o n b u ild in g c o n tra c ts rose 22.2 p e rc e n t in v a lu a tio n . 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Ha w a i i Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:I V U.S . 19 78 :111 St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V No t seasonally adjus ted To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. U.S . 19 77:111— Pe r c e n t c h a n g e 2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 15 3 ,73 0 14 9 ,15 7 2 2 0 ,4 0 3 2 3 6 ,19 9 14 .5 4 3 .4 16 .8 5 8 .4 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 2 8 ,5 3 7 2 8 ,3 0 4 3 7,3 3 5 3 6 ,3 9 2 16 .8 3 0 .8 14 .6 2 8 .6 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 29 4 3 43 28 5 229 4 .4 - 3 .1 - 9 .3 - 3 3 .2 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 12 5 ,19 3 12 0 ,8 5 3 18 3 ,0 6 8 19 9 ,8 0 7 14 .0 4 6 .2 17.4 6 5 .3 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 5 ,6 3 6 2 ,5 6 1 4 ,4 6 8 4 ,9 8 6 10 .8 - 2 0 .7 10 .2 9 4 .7 - 4 1 .5 - 4 .3 .0 - .6 10 6 .9 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 41 27 24 27 - 5 .1 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 1,4 18 1,3 4 0 1,6 4 7 2 ,773 1.0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 5 3 ,8 2 8 4 9 ,6 4 1 74 ,7 4 1 12 4 ,0 6 1 15 .3 3 8 .9 15 .6 14 9 .9 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 1,6 6 4 1,4 5 3 2 ,3 3 7 3 ,9 14 10 .3 4 0 .5 10 .7 16 9 .4 - 1 0 .0 16 .1 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 505 4 4 5 5 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 6 25 9 44 1,9 9 6 1,3 3 6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 20 5 42 31 2 5 .0 - .4 2 5 .0 2 19 .4 4 4 .8 4 1.5 - .7 112 .6 2 4 .7 5 6 8 .1 9 .4 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ....................................................................................................................................... 3 0 ,75 6 2 7,0 5 5 15 1 175 14 3 92 - 2 .5 - 5 .3 - 1 2 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 3 7 ,7 19 3 8 ,0 8 2 5 9 ,3 9 8 4 1,76 3 2 7.6 5 7.5 15 .8 9 .7 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 3 ,9 5 3 1,10 3 2 ,0 8 9 1,0 4 1 12 .2 - 4 7 .2 8 .9 - 5 .7 2 2 .4 15 .3 - 9 .1 - 2 3 .4 - .1 4 2 .1 2 2 .2 1.4 - 4 7 .4 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 98 13 7 113 10 5 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 3 3 ,0 2 1 3 2 ,18 6 4 6 ,9 3 3 3 2 ,6 4 7 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 16 27 21 27 9 .3 3 1.3 - 1 7 .8 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 5 ,3 6 8 7,3 12 3 4 ,8 8 7 2 0 ,4 9 0 3 .0 5 4 9 .9 - 1 6 .3 18 0 .2 1 , Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F . W , Do d g e Di v i s i o n , M c Gr a w -Hi l l 2 . Pe r c e n t c h an g es f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r a r ea d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . I n f o r m a t i o n Sy s t e m s Co m p a n y . R e ta il S a le s R e ta il sales d a ta fo r H a w a ii a re n o t a va ilab le . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Ha w a i i U .S . St a t e U.S . 19 77:111— 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :I V 19 78 :111 M ill io ns of do l la rs , not seasonally adjusted Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . _ _ _ _ _ _ 19 78 :1V _____ Pe r c e n t c h an ge n .a . n .a . 10 .3 — 11.2 — 15 .3 — 9 .2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — n .a .: Da t a n o t a v a i l a b l e . St a t e 19 7 7:1V — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 — Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ha w a i i Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ha w a i i Un i t e d St a t e s U.S . St a t e U.S . 19 77:1V 19 78 : IV 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 10 9 ,4 11 1,6 8 4 n .a . n .a . 6 75 0 19 78 :1V Pe r c e n No t s e a s o n a l l y a d j u s t e d 657 0 72 7 8 n .a . n .a . 7 .7 8 .2 - 9 .5 Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 0 0 2 ,6 8 5 n .a . - 4 4 .2 Ave r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 0 0 336 n .a . - 3 8 .4 St a t e 1 9 7 7 :1 V - 19 77:111— c h an ge — — — — — — — — — — — Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 24 8 n .a . 0 1 0 n .a . - 1 0 .1 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 0 0 3 n .a . 1.0 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 0 0 0 n .a . - 2 7 .1 Re t a i l t r a d e ........................................................................................................................................................................... 688 n .a . 0 0 3 n .a . - 4 .2 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 0 0 2 n .a . - 2 4 .0 — — — — — -------- - — — — . . --------— — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . — — — A p r il 103 1979 1977:IV to 1978:IV Personal income — U p 17.1% vs. 12.6% in U .S., to $6.4 billion — F a rm p e rso n a l in c om e u p 89.8% vs. 26.3% in U .S. — P ay ro lls up only 5.8% in m a n u fa c tu rin g vs. 13.3% in U .S. Employment — U p 3.5% vs. 3.9% in U .S ., to 386,000 Unemployment — U p 2,000, to 22,000 — R a te up to 5.3% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 17.3% vs. 16.8% in U .S ., to $241.3 m illion — V a lu a tio n o f n o n b u ild in g c o n tra c ts u p 91.3% vs. 22.2% in U .S. — N u m b e r o f d w e lling -u n it sta rts d ow n 15.2% vs. n e a r stab ility in U .S ., to 2,411 T A B LE 1 — Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Idah o Un i t e d St a t e s U.S . St a t e 19 77:1V 19 78 :! V 19 77:1V 19 77:111 19 78 :1V 19 78 :111 St a t e U .S . 1 9 7 7 :1 V - 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h an g e Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d To t a l p e r s o n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 5 ,14 6 5 ,4 5 2 6 ,0 5 3 6 ,3 8 5 12 .4 17.6 12 .6 1 7 .1 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,2 2 5 3 ,4 14 3 ,75 5 3 ,8 6 3 12 .1 16 .5 12 .6 13 .2 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 385 3 73 4 11 386 4 .1 6 .6 3 .9 3 .5 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 21 20 20 22 - 4 .6 - 8 .8 10 .9 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 5 .3 5 .0 4 .8 5 .3 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 2 ,2 8 8 2 ,3 5 7 n .a . 2 ,6 10 - 9 .8 — — 1 4 .1 — — — — — — 16 .3 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 3 ,115 3 ,2 8 8 3 ,5 0 2 n .a . 11.5 12 .4 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 18 4 ,4 5 2 2 0 5 ,76 7 2 17 ,4 18 2 4 1,3 0 5 14 .5 17.9 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 3 ,0 2 1 2 ,8 4 4 3 ,0 2 1 2 ,4 11 1.0 .0 To t a l r e t a i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e ss i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 10 9 ,4 11 n .a . 1,6 8 4 n .a . 18 5 .3 2 0 1.8 n .a . 7 3 2 n .a . 407 539 420 - .6 — 11.2 8 .2 - 9 .5 16 .8 - 3 .1 2 5 0 .0 17.3 - 1 5 .2 — — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . — — — — 7.9 — 8 .9 — 104 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se a so n a lly a d ju s te d a t a n n u a l ra te s) in c re ased 17.1 p e rc e n t from 1977:1V to 1978:1 V, c o m p a re d w ith a n a tio n a l in cre ase o f 12.6 p e rc e n t (ta b le 2). In 1978:IV, th e S ta te ’s p e rso n a l in co m e to ta le d $6.4 b illio n, up $933 m illion since 1977:IV. Id a h o ’s in cre a se in p e rs o n a l in com e, o ne o f th e la rge st in th e N a tio n , w ou ld h av e been c o n sid e ra b ly sm a lle r h a d it n o t been fo r an 8 9 .8 -p erc en t in cre ase in fa rm p e rso n a l in co m e , a lso o n e o f th e la rge st g a in s in th e N a tio n . N a tio n a lly , fa rm p e rso n a l in c o m e inc re a se d 26.3 p e rc e n t d urin g th is tim e sp a n . N o n fa rm p e rso n a l in c om e in the S ta te in c re a se d 13.2 p e rc e n t from y e a r to y e a r versus 12.3 p e rc e n t n atio n a lly . S ince th e m o st re c e n t n a tio n a l b usine ss cycle p e a k in 1973:IV, Id a h o ’s n o n fa rm e c o n o m y h as g ro w n m uc h m o re ra p id ly th a n the N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in co m e w a s 38 p e rc e n t m o re th a n n a tio n a lly , ra n k in g Id a h o fo u r th a m o n g all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 : 1 V - 19 78 :1V W age and salary disbursements (p a y ro lls) in th e S ta te in c re a se d 13.2 p e rc e n t from 1977:IV to 1978:IV v ersu s 12.6 p e rc e n t n a tio n a lly . In 1978:1 V, the y to ta le d $3.9 b illio n , up $449 m illion since 1977:IV. W ith in Id a h o ’s p riv a te service-type in d u stry g ro u p , tra d e p a yro lls inc re a se d 17.9 p erc e n t versus 14.1 p e rc e n t n a tio n a lly . T h e S ta te ’s in cre ase a c c o u n te d fo r a lm o s t 25 pe rc e n t o f th e to ta l p a y ro ll in cre ase in Id a h o from y e a r to y ea r. P ay rolls in fin a n c e -in su ra n c e -re a l e sta te increased 22.1 p erc e n t in th e S ta te, th e sec ond large st in cre ase in the N a tio n , a fte r W yo m in g ’s 2 3 .0 -p erc en t incre ase. N a tio n a lly , p a y ro lls in th e fin a n c e g r o u p in c re a s e d 13.2 p e r c e n t. In tr a n s p o r ta t io n c o m m u n ic a tio n -p u b lic u tilitie s, p a y ro lls inc re a se d 14.3 p e rc e n t in Id a h o a n d 11.3 p e rc e n t n a tio n a lly . In services, in c o n tra s t, th e S ta te ’s 12.5p e rc e n t p a y ro ll in cre a se lagged th e n a tio n a l increase. F e d e ra l G o v e rn m e n t p a y ro lls in c re a se d 15.7 p erc e n t in Id a h o from y ear to y ea r, ove r tw ice as m u ch as n a tio n a lly . Id a h o ’s in cre a se w a s th e large st a m o n g all S ta tes. S ta te a n d local g o v e rn m e n t p a y ro lls inc re a se d m o re in Id a h o th a n n a tio n a lly — 8.3 p e rc e n t versus 6.8 p erc e n t. P ay ro lls in c o n stru c tio n in c re a se d 20.3 p e rc e n t in th e S ta te , a fra ctio n m o re th a n n a tio n a lly . In m a n u fa c tu rin g , in c o n tra s t, S ta te p ay ro ll increases sh a rp ly lagged n a tio n a l incre ases. D u ra b le s m a n u fa c tu rin g p ay ro lls in c re a se d 8.0 p e rc e n t from y e a r to y ea r versus 15.2 p erc e n t n a tio n a lly , a n d n o n d u ra b le s m a n u fa c tu rin g p ay ro lls in c re ased o nly 2.5 p e rc e n t versus 10.0 p e rc e n t n a tio n a lly . T he increases in th e S ta te ’s d u ra b le s a n d n o n d u ra b ie s p a y ro lls ra n k e d 4 7 th a n d 4 8th, respectively, in the N a tio n . [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t F ro m 1977:1 V to 1978:IV, S ta te u n e m p lo y m e n t in su ra n c e benefits dec line d only 3.5 p e rc e n t in Id a h o , th e sm a llest dec line in th e N a tio n . C o n c u rre n tly , u n e m p lo y m e n t in su ra n c e b e n e fits th ro u g h o u t th e N a tio n dec line d 30.3 p e rce nt. Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V Pe r c e n t □ W a g e s a n d Sa l a r i e s Un i t e d St a t e s Ch a r t 3 .— To t a l Pe r s o n a l In c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : I d a h o [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 Billion s T A B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Idah o Un i t e d St a t e s US. St a t e US. 19 7 7:I V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :1V 19 78 :111 M i l l i o n s o f d o l l a r s , s e as o n a l l y a d j u s t e d a t a n n u a l r a t e s ' To t a l p e r s o n a l I n c om e St a t e 19 7 7:1V — 1 9 7 7 :1 1 1 - 19 78 :1V Pe r c e n t c h a n g e 2 1,5 8 3 ,3 0 8 1,78 2 ,5 19 5 .14 6 5 .4 5 2 6 .0 5 3 6 .3 8 5 12 .4 17 .6 12 .6 1 7 .1 Fa r m p e r so n al i n c o m e ................ 3 1,2 2 4 3 9 ,4 5 1 221 2 77 36 3 5 26 4 7.9 No n f a r m p e r s o n al i n c o m e .......... 6 4 .0 2 6 .3 8 9 .8 1,5 5 2 ,2 8 4 13 .2 1,74 3 ,0 6 8 4 ,9 2 4 5 ,175 5 ,6 9 0 5 ,8 5 9 11.9 15 .6 12 .3 1,5 8 3 ,5 0 8 1,78 2 ,5 19 5 .14 6 5 .4 5 2 6 .0 5 3 6 .3 8 5 12 .4 17 .6 12 .6 1 7 .1 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,2 2 5 3 ,4 14 3 ,75 5 3 ,8 6 3 Ot h e r l a b or i n c o m e ....................................................... 12 .1 16 .5 12 .6 13 .2 9 6 ,0 16 1 1 1 ,7 1 9 28 2 306 348 35 4 17.0 2 3 .6 Pr o p r i e t o r s ' i n c o m e ...................................................... 16 .4 16 .0 10 5 ,9 5 3 12 5 ,9 9 5 46 0 5 29 654 8 28 Fa r m ................................................................................... 2 1.5 4 2 .2 18 .9 5 6 .6 2 3 ,6 3 6 3 1,0 4 4 87 14 6 224 381 To t a l p e r s o n a l i n c o m e W ag e a n d s a l a r y d i s b u r s e m e n t s ......................... 6 6 .6 N o n f a r m .......................................................................... 15 6 .9 3 1.3 16 0 .8 8 2 ,3 17 9 4 ,9 5 1 3 73 383 43 0 447 12.8 15 .3 Di v i d e n d s , i n t e r e s t , a n d r e n t ................................. 15 .3 16 .9 2 14 ,9 9 2 2 4 2 ,4 4 2 662 6 79 74 5 76 7 12 .3 Tr a n s f e r p a y m e n t s ........................................................ 12 .5 12 .8 12 .9 2 15 ,9 4 4 2 3 3 ,75 0 70 6 72 6 78 0 800 St a t e u n e m p l o y m e n t I n s u r a n c e b e n e f i t s . 8.8 10 .4 8.2 11,12 8 7,75 3 27 34 26 33 Le s s : p e r so n al c o n t r i b u t i o n s ................................. - 2 4 .0 2.2 - 3 0 .3 - 3 .5 6 2 ,2 12 71,6 10 223 23 6 26 9 2 71 14 .8 Pl u s : r e s i d en c e a d j u s t m e n t ..................................... 2 0 .4 15 .1 14 .8 -4 0 1 -4 73 34 35 40 43 W ag e a n d s a l a r y d i s b u r s e m e n t s .................................................................. 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,2 2 5 3 ,4 14 3 ,75 5 3 ,8 6 3 Fa r m ............................................................................................................................ 12.1 16 .5 7 ,17 6 7,9 3 9 13 1 12 8 13 5 14 1 N o n f a r m ................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 3 ,0 9 4 3 ,2 8 6 3 ,6 2 1 3 ,72 2 M i n i n g .................................................................................................................. 14 ,0 4 8 18 ,8 13 49 53 71 - 10 .2 12.6 13 .2 12.1 17.0 10.6 12.6 13 .3 71 2 6 .5 4 3 .6 8 .5 3 .4 10.8 Co n s t r u c t i o n ................................................................................................... 3 3 .9 3 3 .4 5 5 ,6 4 8 6 6 ,8 5 8 247 26 1 307 M a n u f a c t u r i n g ............................................................................................... 3 13 19 .1 2 4 .3 2 0 .1 2 0 .3 2 7 6 ,112 3 12 ,9 70 6 36 70 8 76 4 Du r a b l e g o o d s ......................................................................................... 74 9 12 .1 2 0 .2 13 .3 5 .8 176 ,2 16 2 0 3 ,0 5 3 3 77 431 46 0 46 6 22.0 No n d u r a b l e g o o d s ................................................................................ 13 .7 15 .2 8.0 9 9 ,8 9 6 10 9 ,9 17 25 8 2 76 304 28 3 9 .4 1 7 .7 Pr i v a t e s e r v i c e - t y p e .................................................................................. 10.0 2 .5 4 5 5 ,76 4 16 .0 5 15 ,3 4 8 1,4 3 8 1,5 0 9 1,6 9 1 1,75 0 12 .8 17.6 13 .1 76 ,5 8 4 8 5 ,2 6 4 25 0 26 2 29 0 300 W h o l e s a l e a n d r e t a i l t r a d e ............................................................ 10 .4 16 .2 11.3 170 ,8 8 8 19 5 ,0 3 5 594 6 17 716 72 7 13 .6 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ....................................... 20.6 14 .1 17.9 5 4 ,4 5 2 6 1,6 5 3 13 6 14 8 172 18 1 14 .1 2 6 .8 13 .2 22.1 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s 14 .3 Se r v i c e s ......................................................................................................... 15 3 ,8 4 0 173 ,3 9 6 45 9 48 2 5 13 542 Go v e r n m e n t ..................................................................................................... 12.6 11.9 1 2 .7 12 .5 2 0 1,2 5 2 2 15 ,0 8 3 70 5 73 4 76 3 8 15 Fe d e r a l ........................................................................................................... 7.4 8 .3 6 .9 10 .9 6 8 ,176 73 ,0 0 3 247 26 3 2 79 304 St a t e a n d l oc al ....................................................................................... 7.3 13 .3 7.1 15 .7 13 3 ,0 76 14 2 ,0 8 0 45 8 4 72 484 5 11 Ot h e r .................................................................................................................... 7.5 5 .7 6.8 3 ,2 16 3 ,6 8 5 20 21 24 24 18 .7 2 0 .6 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 8 .3 14 .6 14 .5 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Reg i on a l Ec o n o m i c M e a s u r e m e n t 2 . Bas e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 — Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Id ah o US. St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : I V 18 5 .3 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a v a i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r eas b a se d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 2 0 1.8 — — St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ver a g e 2 ....................................................................................................................................... U .S . 19 78 : I V Pe r c e n t c h a n g e — — 7.9 — 8 .9 — N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e 106 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS L abor F orce F ro m 1977:IV to 1978:IV, Id a h o ’s civilian labor force in cre a se d 3.9 p e rc e n t versus 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in c re a se d 3.5 p e rc e n t versus 3.9 p e rc e n t n a tio n a lly , to 386,000. la b o r force. T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:IV w a s 5.5 p e rc e n t, d ow n 0.7 p e rc e n ta g e p o in t fro m th e 1977:IV level. In D e c e m b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in B oise C ity, W ith th e la b o r forc e in c rea sin g by 15,000 a n d e m p lo y m e n t in c rea sin g by th e S ta te ’s m a jo r m e tro p o lita n a re a , w as 4.3 p e rce nt; state w id e , th e 13,000, th e n u m b e r o f unemployed in c re a se d by 2,000, to 22,000. I d a h o ’s u n e m p lo y m e n t ra te w as 6.5 p e rce nt. unemployment rate in c re ased 0.3 p e rc e n ta g e p o in t, to 5.3 p e rc e n t o f th e Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : I d a h o Ch a r t Th o u s a n d s 6 .— U n e m p l o y m e n t Ra t e s , 19 77:1V — 19 78 :1V Pe r c e n t 10. 0 - - 8.0 - - 6.0 - - 4 .0 2.0 f, lii 19771V %%§ 1978: IV 0.0 Un i t e d St a t e s T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Id ah o Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 St a t e U.S . 19 78 :1V Em p l o y e e s o n n o n a g r l c u l t u r a l p a y r o l l s .......... C o n s t r u c t i o n ........................................................................................... M a n u f a c t u r i n g ........................................................................................ Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , an d p u b l i c u t i l i t i e s W h o l e s a l e a n d r e t a i l t r a d e ............................................................ Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ....................................... S e r v i c e s ....................................................................................................... Go v e r n m e n t ............................................................................................. Ci v i l i a n l a b o r f o r c e 3 ...................................................... To t a l e m p l o y e d ..................................................................................... To t a l u n e m p l o y e d ................................................................................ Pe r c e n t u n e m p l o y e d .......................................................................... 19 78 :111 19 78 : IV Pe r c e n t c h a n g e 2 8 4 ,2 10 8 7,70 8 3 15 3 17 338 339 4 .3 7.2 4 .2 78 7 899 3 4 4 4 8 .2 14 .7 14 .2 5 .6 4 ,0 3 2 4 ,4 8 8 22 20 23 21 10 .4 8 .3 11.3 7.1 19 ,9 8 6 2 0 ,72 2 55 56 60 59 3 .1 7.6 3 .7 5 .4 4 ,76 1 4 ,9 71 19 19 20 20 3 .8 5 .9 4 .4 7.0 19 ,15 2 2 0 ,0 15 77 80 82 84 5 .3 6 .6 4 .5 4 ,8 5 2 4 ,75 6 17 17 22 22 4 .8 2 9 .9 6 .8 5 .2 3 0 .8 - 2 .0 15 ,5 3 9 16 ,2 15 54 54 58 58 4 .6 7.9 4 .4 15 ,4 3 4 15 ,6 5 6 69 69 69 71 2 .1 .6 1.4 2 .9 9 8 ,5 9 1 10 1,6 15 407 393 431 408 3 .2 6 .0 3 .1 3 .9 9 2 ,4 4 2 9 6 ,0 10 385 3 73 4 11 386 6 ,14 9 5 ,6 0 5 21 20 20 22 6 .2 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b e i n g e s t i m a t e d b y n ew m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e a k in t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . St a t e 1 9 7 7 :1 V - Th o u s a n d s o f p e r s o n s , n o t s e a s o n al l y a d j u s t e d 1 M i n i n g ........................................................................................................... U.S . 1 9 7 7 :1 1 1 - 5 .5 5 .3 5 .0 4 .8 5 .3 4 .1 6 .6 - 9 .8 — 3 .9 - 4 .6 — 8 .0 3 .5 - 8 .8 — 10 .9 — A p r il 107 1979 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e I n d e x , 19 72 = 10 0 Em p l o y m e n t I n d e x . 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t 8 .— Ci v i l i a n 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n Th o u s a n d s o f No n a g r i c u l t u r a l Em p l o y m e n t : I d a h o 108 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S C o m m er cia l B a n k in g D u e to c ha n ge s in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b a n k in g d a ta a rriv e d to o late fo r th is re p o rt to in clude th e co m m erc ia l b a n k in g discussion a n d th e co m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e co m m erc ia l b a n k in g ta b le 5 is show n below . 12 T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Id ah o Un i t e d St a t e s U .S . St a t e 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 7 7:1V — 6 10 ,5 0 2 n .a . Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . Lo a n s t o i n d i v i d u a l s ...................................................................................................................................................... 14 0 ,5 9 9 n .a . 637 655 Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 631 656 Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 425 444 Fa r m s ................................................................................................................................................................................... 7 ,7 3 1 n .a . 15 14 2 ,2 8 8 2 ,3 5 7 555 604 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 1 M il lio ns o f do l la rs , n ot seaso nally ad ju s te d ' To t a l l o a n s ........................................................................................................................................................ St a t e U.S . 1 9 7 7 :1 1 1 - 1 4 .1 — — 2 1.2 — — 2 ,6 10 n .a . 6 73 n .a . 14 .2 72 1 n .a . 2 0 .2 13 .3 — — 74 8 n .a . 19 .9 18 .4 — — 5 11 n .a . 2 1.3 2 0 .2 13 n .a . 10 .7 - 8 .5 16 .3 — — — — Ot h e r ................................................................................................................................................................................... 6 8 ,9 6 8 n .a . 19 2 19 8 223 n .a . 19 .0 16 .5 — — Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 421 384 407 n .a . 6 .8 - 3 .4 — — — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 44 58 61 n .a . 8 .0 3 8 .0 To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 3 ,115 3 ,2 8 8 3 ,5 0 2 n .a . 11.5 12 .4 D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 1,0 6 0 1,18 1 1 ,1 7 1 n .a . 10 .2 10 .5 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 2 ,0 5 5 2 ,10 8 2 ,3 3 1 n .a . 12 .3 13 .4 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — — — — — — C o n str u c tio n F ro m 1977:1 V to 1978:1V, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts inc re a se d 17.3 p e rc e n t ($35.5 m illion), to $241.3 m illion (ta b le 6). T h e n a tio n a l in crease w as 16.8 p erc e n t. N a tio n a l c o n stru c tio n c osts in c re ased a b o u t 13 p erc e n t d u rin g th e sam e tim e sp a n ; if th is in cre ase is re p re s e n ta tiv e o f th e ga in th ro u g h o u t the S ta te , th e real in crease in th e to ta l v a lu a tio n o f c o n tra c ts in Id a h o w as a b o u t 4 p e rce nt, th e sam e as n a tio n a lly . R efle c ting a $40 m illion c o n tra c t in 1978:IV fo r th e c o n s tru c tio n o f an in d u stria l w a ste d isp o sa l system in B o nneville C o u n ty , th e v a lu a tio n o f n o n b u ild in g c o n tra c ts in c re a se d 91.3 p e rc e n t versus 22.2 p e rc e n t n a tio n a lly . I d a h o ’s in cre ase w a s on e o f th e larg est in th e N a tio n . W ith o u t th e B o nneville C o u n ty c o n tra c t, n o n b u ild in g c o n tra c ts in th e S ta te w ou ld h a ve dec line d 60 p e rc e n t in v a lu a tio n from y e a r to yea r. S tre e t a n d highw ay c o n tra c ts , a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d 3.4 p e rc e n t in v a lu a tio n , c o m p a re d w ith a 16.3p e rc e n t n a tio n a l decline. Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x . 19 7 6 = 1 0 0 N o n re s id e n tia l c o n tra c ts dec lin ed 2.7 p e rc e n t in v a lu a tio n , c o m p a re d w ith a 15.8-percent n a tio n a l incre ase. Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : I d a h o M illion s Ch a r t Pe r c e n t R eside ntial h ou sek e e p in g c o n tra c ts in cre a se d 8.4 p e rc e n t in v a lu a tio n versus 15.6 p e rc e n t n a tio n a lly . A $12 m illion c o n tra c t in 1977:IV fo r th e c o n s tru c tio n o f one -fa m ily h ou se s in A d a C o u n ty ra ise d th e v a lu a tio n o f re sid e ntia l h ou se k e e p in g c o n tra c ts to a n u n u su a lly h ig h level, th e re b y d is to rtin g th e su b s e q u e n t y e a r-to -y e a r c ha nge . W ith o u t th e A d a C o u n ty c o n tra c t, th e v a lu a tio n o f re sid e n tia l h o u s e k e e p in g c o n tra c ts in th e S ta te w ou ld have inc re a se d 27.2 p e rc e n t. T h e n u m b e r o f d w elling u n its s ta rte d dec line d 15.2 p e rc e n t, o r 433 u n its, to 2,411. I d a h o ’s d ec line w a s o n e o f th e large st in th e N a tio n . N a tio n a lly , th e n u m b e r o f dw e lling u n its s ta rte d w as a lm o st u n c h a n g e d a t a high level. R e sid e n tia l h o use k e e p in g a d d itio n s a n d a lte ra tio n s in c re a se d 21.0 p e rc e n t in v a lu a tio n v ersu s 14.6 p erc e n t n a tio n a lly . 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 — Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Idah o Un i t e d St a t e s 19 77:1V 19 78 : IV 19 77:1V 19 77:111 St a t e U .S . 19 78 :111 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e 1 No t s e a s o n a l l y a d j u s t e d To t a l v a l u a t i o n o f c o n t r a c t s ............................................................................................................... St a t e U .S . 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 18 4 ,4 5 2 2 0 5 ,76 7 2 17 ,4 18 2 4 1,3 0 5 14 .5 17 .9 16 .8 17.3 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 3 1,2 5 8 2 7,5 0 8 3 3 ,3 4 5 3 3 ,2 9 8 16 .8 6 .7 14 .6 2 1.0 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 358 390 356 28 5 4 .4 - 9 .3 — 2 6 .9 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 15 3 ,19 4 178 ,2 5 9 18 4 ,0 73 2 0 8 ,0 0 7 14 .0 2 0 .2 1 7 .4 16 .7 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 4 ,6 4 1 4 ,9 3 1 5 ,3 10 5 ,4 12 10 .8 14 .4 10 .2 9 .8 - .6 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 173 15 9 16 5 15 3 - 5 .1 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 3 ,0 2 1 2 ,8 4 4 3 ,0 2 1 2 ,4 11 1.0 - 4 .6 .0 - 4 .3 - 3 .8 - .6 - 1 5 .2 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 9 0 ,5 74 8 1,3 5 0 10 3 ,2 2 2 8 8 ,2 12 15 .3 14 .0 15 .6 8 .4 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 3 ,4 6 0 3 ,15 3 3 ,78 6 3 ,19 5 10 .3 9 .4 10 .7 1.3 - 1 0 .0 - 3 3 .3 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 3 5 2 2 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 800 5 ,2 11 1,2 9 0 1,9 3 2 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 20 178 52 0 - .7 - .4 - 6 0 .0 6 1.3 4 4 .8 16 6 .3 2 4 .7 - 6 2 .9 — 9 .4 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 10 6 12 6 110 90 - 2 .5 3 .8 - 1 2 .0 - 2 8 .6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 3 3 ,3 2 7 6 1,2 3 6 5 0 ,2 4 9 5 9 ,5 8 5 2 7.6 5 0 .8 15 .8 - 2 .7 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 1,16 1 1,6 0 1 1,4 72 2 ,2 17 12 .2 2 6 .7 8 .9 3 8 .5 2 2 .4 3 .9 - 9 .1 - 6 0 .0 - .1 2 .9 2 2 .2 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 76 10 0 79 40 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 8 ,4 9 3 3 0 ,4 6 2 2 9 ,3 12 5 8 ,2 78 9 1.3 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 41 39 45 15 9 .3 9 .8 - 1 7 .8 - 6 1 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 17,5 6 0 14 ,2 8 4 19 ,70 5 13 ,8 0 2 3 .0 12 .2 - 1 6 .3 - 3 .4 1 . Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 2 . Pe r c e n t c h a n g e s f o r f l o o r ar ea b a se d on u n r o u n d e d d a ta N O T E — De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . I n f o r m a t i o n Sy s t e m s Co m p a n y . R e ta il S a le s R e ta il sales d a ta fo r Id a h o a re n o t a va ilab le . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 Id ah o Un i t e d St a t e s U.S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 c h an g e n .a . n .a . n .a . n .a . 10 .3 — 1 1 .2 — n .a . n .a . 11.8 — 15 .3 — n .a . n .a . 9 .6 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a .: Da t a n o t a v a i l a b l e . 19 78 :1V Pe r c e n M il lio ns of do ll ar s , not seasonally ad jus ted St a t e 1 9 7 7 :1 V - 9 .2 _ _ _ So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d I d a h o Th r o u g h Fo u r t h Qu a r t e r , 19 78 U .S . Id ah o Un i t e d St a t e s St a t e 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e U .S . 19 7 7 :1V — 19 77:111 — 19 78 :111 19 78 : IV Pe r c e n t c h an g e No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ 10 9 ,4 11 n .a . 420 539 407 n .a . - 3 .1 — — To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 2 3 7 n .a . - 9 .5 2 5 0 .0 — — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 10 5 179 6 22 n .a . - 4 4 .2 4 9 2 .4 — — Ave r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 53 60 89 n .a . - 3 8 .4 6 7.9 — — 8 .2 Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 1 1 0 n .a . - 1 0 .1 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 0 0 4 n .a . 1.0 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 0 0 0 n .a . - 2 7 .1 Re t a i l t r a d e .......................................................................................................................................................................... 688 n .a . 1 0 2 n .a . - 4 .2 Co m m e r c i a l s e r vi c e s ...................................................................................................................................................... 23 8 n .a . 0 2 1 n .a . - 2 4 .0 — — — ..---------— — 10 0 .0 — N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n — — — — _ _ _ n .a .: Da t a n o t a v a i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . — & Br a d s t r e e t, In c . IL L IN O IS H ig h lig h ts 1977:IV to 1978:IV Personal income — U p 10.3%, 2.3 p e rc e n ta g e p o in ts less th a n in U .S. — W e a kn ess in fa rm ing , m a n u fa c tu rin g , a n d p riv a te service-type in d u strie s Consumer prices — U p 9.9% in C h ic ag o vs. 8.9% in U .S . Employment — U p 3.2% vs. 3.9% in U .S ., to 5.1 m illion Unemployment — D o w n 19,000, to 293,000 — R a te d ow n to 5.4% o f la b o r fo rc e vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 2.9% vs. 16.8% in U .S ., to $2.0 b il lion — M o s t m a jo r c o n s tru c tio n c a te go rie s w e a k in S ta te — N u m b e r o f d w e lling -u nit s ta rts d o w n 11.8% vs. little c h a n g e in U .S ., to 17,807 Retail sales — U p 10.0% vs. 11.2% in U .S ., to $12.3 billion T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 U .S . Il l i n oi s St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 19 7 7 :1V — 19 78 :1V Pe r c e n t c h an g e To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 9 0 ,0 4 1 9 2 ,2 77 9 9 ,79 5 10 1,7 7 0 12 .4 10 .8 12 .6 10 .3 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 5 8 ,3 6 7 5 9 ,5 3 7 6 4 ,72 9 6 6 ,118 12 .1 10 .9 12 .6 1 1 .1 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 4 ,9 6 1 4 ,9 5 6 5 ,0 76 5 ,114 4 .1 2 .3 3 .9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 328 3 12 3 14 29 3 - 9 .8 — - 4 .3 — — Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 6 .2 5 .9 5 .8 5 .4 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 4 5 ,78 1 4 7,6 74 5 2 ,8 6 4 n .a . 16 .3 15 .5 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 11 n .a . 6 5 ,0 19 6 8 ,8 3 7 71,5 4 2 n .a . 11.5 10 .0 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 2 ,19 5 ,6 3 2 1,8 9 6 ,9 13 2 ,3 78 ,4 2 4 1,9 5 2 ,8 5 5 14 .5 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 2 3 ,4 3 9 2 0 ,18 5 2 3 ,16 7 17,8 0 7 1.0 To t a l r e t a i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 9 ,8 2 2 11,19 9 10 ,73 2 12 ,3 2 1 10 .3 9 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ........................................................................................................ 10 9 ,4 11 n .a . 4 ,2 5 3 4 ,4 3 4 4 ,78 1 n .a . 8 .2 12 .4 Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 99 93 95 n .a . 18 5 .3 — 2 0 1.8 — Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... C h i c a g o ....................................................................................................................................................................... n .a .: Da t a n o t a v a i l a b l e . So u r c e : See t a b l e s 2 t h r o u g h 8 . ___ 1 7 7 .4 _ _ _ 179 .4 _ _ _ 19 1.8 - 9 .5 _ _ _ ____ 1 9 7 .1 __ 7.9 — - 8 .8 — — — 8 .3 16 .8 - .6 2 .9 - 1 1 .8 1 1.2 10 .0 — — — — _ _ _ ___ 8 J L _ — — - 1 .2 - 4 .0 3 .2 - 6 .3 8 .9 — _____ aa. S TA TE Q U A R T E R L Y 112 E C O N O M IC D EVELO PM EN TS A n a ly s is P e r so n a l In c o m e T o ta l personal incom e (se a so n a lly a d ju ste d a t a n n u a l ra te s) increased 10.3 p e rc e n t from 1977:IV to 1978:IV, 2.3 p e rc en tag e p o in ts less th a n n a tio n a lly (ta b le 2). In 1978:1 V, Illin o is’ to ta l p e rso n a l in co m e was $101.8 b illio n, for a n in cre ase o f $9.5 b illio n since 1977:IV. A m on g all S ta tes, Illin o is’ in cre a se ra n k e d 4 5 th . C h an g es in n e a rly all m a jo r in c o m e c o m p o n e n ts w e re below th o s e re gistere d in th e c o rre s p o n d in g c o m p o n e n ts n a tio n a lly . S ince th e la st n a tio n a l bu sin ess cycle p e a k (1973:1V), Illin o is’ e c o n om y h as in c re a se d slow ly; th e in c re a se in n o n fa rm in c o m e w as 14 p e rc e n t less th a n n a tio n a lly , ra n k in g Illino is 43 rd a m o n g all S tates. C onsum er prices from 1977:IV to 1978:1V inc re a se d 9.9 p e rc e n t in th e C h ic a g o m e tro p o lita n a re a versus a n a tio n a l incre ase o f 8.9 p erc e n t (ta b le 3). If C h ic a g o ’s index is used as a n in d ic a to r fo r p ric e m o ve m e nts Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] in th e S tate, real to ta l p e rso n a l in co m e in Illino is in c re ased o nly 0.4 p e rc e n t versus 3.7 p e rc e n t n a tio n a lly . W a ge and salary disbursem ents (pa y ro lls) inc re a se d 11.1 p e rc e n t in Il linois versus 12.6 p e rc e n t in th e N a tio n . In 1978:IV, p ay ro lls to ta le d $66.1 billion, up $6.6 billion since 1977:IV. A m o n g all S ta tes, Illino is’ in cre a se ra n k e d 42nd. M a n u fa c tu rin g p ay ro lls in c re a se d 9.4 p erc e n t, 3.9 p e rc e n ta g e p o in ts less th a n in th e N a tio n . A m o n g all S ta tes, Illin o is’ in crease ra n k e d 46th. W h ile w e akne ss ex ten d ed to b o th d u ra b le g o o ds a n d n o n d u ra b le g o o ds m a n u fa c tu rin g , th e lag w as p a r tic u la rly p ro n o u n c e d in n o n d u ra b le s , up o n ly 5.8 p e rc e n t versus 10.0 p e rc e n t n atio n a lly . P riv a te service-type p ay ro lls w e re a lso w eak in th e S ta te. T h e lag w as p a rtic u la rly p ro n o u n c e d in tra d e p a y ro lls— up 9.7 p erc e n t in Illino is a n d 14.1 p e rc e n t in th e N a tio n . In s h a rp c o n tra s t, Illino is’ p a y ro ll in c re a se in fin a n c e -in su ra n c e -re a l e sta te w as 17.5 p e rc e n t versus a n a tio n a l in crease o f 13.2 p e rce nt; th e S ta te ’s in cre ase ra n k e d n in th a m o n g all S tates. F in a n c e -in su ra n c e -re a l e sta te p a y ro lls a c c o u n te d fo r 3.9 p e rc e n t o f to ta l p e rso n a l in c o m e in Illinois in 1978:IV , c o m p a re d w ith a w eight o f 3.5 p e rc e n t in th e N a tio n . S ta te a n d local g o v e rn m e n t p a y ro lls in c re ased m o re in Illino is th a n in th e N a tio n — 11.3 p e rc e n t versus 6.8 p erc e n t. T h e in crease in F e d era l G o v e rn m e n t p a y rolls, in c o n tra s t, w as sm aller in Illinois th a n in the N a tio n . C o n s tru c tio n p a y ro lls in c re ased 14.5 p erc e n t in th e S ta te versus 20.1 p e rc e n t in th e N a tio n . U n e m p lo y m e n t in su ra n c e b e ne fits dec line d a b o u t 30 p e rc e nt in b o th the S ta te a n d th e N a tio n . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V Pe r c e n t To t a l Pe r s o n a l M an u fac tu r in g In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s □ U n i t e d St a t e s 1% 3 Ch i c a g o Ch a r t 3 .— To t a l Pe r s o n a l I n c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n [ Se a s o n a l l y a d j u s t e d ] o f W a g e s a n d Sa l a r i e s : I l l i n o i s [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 Billio n $ a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Il l i n oi s Un i t e d St a t e s U .S . St a t e U .S . 19 77:111 — 19 77:1 V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M il lio ns o f do ll ar s , seasonally ad jus ted a t an nu al rate s1 St a t e 19 7 7 :1V — 19 78 :1V Pe r c e n t c h a n g e 2 To t a l p e r s o n a l i n c o m e ............................................................................................................................. 1,5 8 3 ,5 0 8 1 ,7 8 2 ,5 Ì 9 9 0 ,0 4 1 9 2 ,2 77 9 9 ,79 5 10 1,7 7 0 12 .4 10 .8 12 .6 10 .3 Fa r m p e r s o n a l i n c o m e .................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 1,3 9 3 1,8 0 5 1,72 9 1,5 8 9 4 7.9 2 4 .1 2 6 .3 - 1 2 .0 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 8 8 ,6 4 8 9 0 ,4 73 9 8 ,0 6 6 10 0 ,18 2 11.9 10 .6 12 .3 To t a l p e r s o n a l i n c o m e ............................................................................................................................. 1,5 8 3 ,5 0 8 1,78 2 ,5 19 9 0 ,0 4 1 9 2 ,2 77 9 9 ,79 5 10 1,7 7 0 12 .4 10 .8 12 .6 10 .3 W ag e a n d s a l a r y d i s b u r s e m e n t s ........................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 5 8 ,3 6 7 5 9 ,5 3 7 6 4 ,72 9 6 6 ,118 12 .1 10 .9 12 .6 11 .1 Ot h e r l a b o r i n c o m e ........................................................................................................................................................ 9 6 ,0 16 1 1 1 ,7 1 9 5 ,4 72 5 ,70 7 6 ,3 3 6 6 ,4 8 7 17.0 15 .8 16 .4 13 .7 Pr o p r i e t o r s ’ i n c o m e ........................................................................................................................................................ 10 5 ,9 5 3 12 5 ,9 9 5 5 ,4 0 7 5 ,8 6 7 6 ,15 7 6 ,15 4 2 1.5 13 .9 18 .9 4 .9 Fa r m ..................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 1 ,1 1 2 1,5 12 1,4 14 1,2 5 7 6 6 .6 2 7.2 3 1.3 - 1 6 .9 N o n f a r m ........................................................................................................................................................................... 10 .7 8 2 ,3 17 9 4 ,9 5 1 4 ,2 9 5 4 ,3 5 5 4 ,74 3 4 ,8 9 7 12 .8 10 .4 15 .3 12 .5 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 12 ,6 8 8 12 ,9 5 6 14 ,0 2 0 14 ,3 72 12 .3 10 .5 12 .8 10 .9 Tr a n s f e r p a y m e n t s .......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 11,0 9 7 11,2 5 4 11,9 3 2 12 ,0 3 4 8 .8 7.5 8 .2 6 .9 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 9 35 903 72 0 637 - 2 4 .0 — 2 2 .9 - 3 0 .3 - 2 9 .5 Le s s : p e r s o n a l c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 7 1,6 10 3 ,3 4 2 3 ,3 9 9 3 ,76 7 3 ,8 14 12 .7 15 .1 12 .2 Pl u s : r e s i d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 352 355 389 4 19 W ag e a n d s a l a r y d i s b u r s e m e n t s ........................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 5 8 ,3 6 7 5 9 ,5 3 7 6 4 ,72 9 6 6 ,118 12 .1 10 .9 12 .6 11 .1 Fa r m ..................................................................................................................................................................................... 7 ,17 6 7,9 3 9 25 6 26 7 28 6 301 8 .5 11.8 10 .6 13 .1 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 5 8 ,111 5 9 ,2 71 6 4 ,4 4 3 6 5 ,8 17 12 .1 10 .9 12 .6 11.0 14 .8 — — M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 569 5 12 620 6 24 2 6 .5 8 .9 3 3 .9 2 1.9 C o n s t r u c t i o n ............................................................................................................................................................ 5 5 ,6 4 8 6 6 ,8 5 8 3 ,18 2 3 ,2 3 7 3 ,70 4 3 ,70 6 19 .1 16 .4 2 0 .1 14 .5 M a n u f a c t u r i n g ........................................................................................................................................................ 2 7 6 ,112 3 12 ,9 70 18 ,0 3 0 18 ,4 6 1 19 ,710 2 0 ,2 0 4 12 .1 9 .3 13 .3 9 .4 Du r a b l e g o o d s .................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 12 ,16 8 12 ,5 2 0 13 ,5 10 13 ,9 2 2 13 .7 11.0 15 .2 11.2 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 5 ,8 6 2 5 ,9 4 1 6 ,2 0 1 6 ,2 8 3 9 .4 5 .8 10 .0 5 .8 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 2 7,2 2 8 2 7,8 4 6 3 0 ,3 3 1 3 1,12 3 12 .8 1 1.4 13 .1 11.8 10 .3 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ....................................................... 76 ,5 8 4 8 5 ,2 6 4 4 ,73 4 4 ,8 5 1 5 ,12 8 5 ,3 5 2 10 .4 8 .3 11.3 W h o l e s a l e a n d r e t a i l t r a d e ..................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 10 ,5 3 7 10 ,775 11,6 0 7 11,8 2 5 13 .6 10 .2 14 .1 9 .7 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ................................................................................................ 5 4 ,4 5 2 6 1,6 5 3 3 ,4 2 3 3 ,4 11 3 ,9 2 5 4 ,0 0 8 14 .1 14 .6 13 .2 17.5 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 8 ,5 3 4 8 ,8 10 9 ,6 72 9 ,9 3 8 12 .6 13 .3 1 2 .7 12 .8 Go v e r n m e n t ............................................................................................................................................................ 2 0 1,2 5 2 2 15 ,0 8 3 9 ,0 0 8 9 ,1 1 7 9 ,9 6 5 10 ,0 4 8 7.4 10 .6 6 .9 10 .2 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 2 ,10 5 2 ,19 7 2 ,2 6 4 2 ,3 4 5 7.3 7.6 7 .1 6 .8 St a t e a n d l o c a l ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 6 ,9 0 3 6 ,9 2 0 7 ,7 0 1 7,70 3 7.5 11.6 6 .8 11.3 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 94 98 112 111 18 .7 18 .7 14 .6 13 .3 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Il l i n oi s Un i t e d St a t e s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :! V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 I n d e x, 19 6 7= 10 0 , n ot season al l y ad j u s ted U .S . c i t y a v e r a g e 2 ........................................................................................................................................ 18 5 .3 Ch i c a g o ..................................................................................................................................................................................... 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b a se d o n t h e 19 70 Ce n s u s o f Po p u l a t i o n . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 19 78 :1V Pe r c e n t c h an ge 7.9 2 0 1.8 17 7 .4 179 .4 St a t e 19 7 7:1V — 19 1.8 19 7 .1 8 .9 8 .1 9 .9 N O T E.— Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a ta a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . 114 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS L abor F orce F ro m 1977:IV to 1978:IV, th e civilian labor force in cre a se d 2.6 p e rce nt, 0.5 p e rc e n ta g e p o in t less th a n in th e N a tio n (ta b le 4). Total employment in Illin o is in c re a se d 3.2 p e rc e n t, 0.7 p erc e n ta g e p o in t less th a n in th e N a tio n , to 5.1 m illion . T h e S ta te ’s e m p lo y m e n t in cre a se w as th e second sm a llest in th e G r e a t L a ke s region a n d w as exceeded in 33 S tates. 0.5 p erc e n ta g e p o in t from y e a r to y e a r versus a dec line in th e N a tio n o f 0.7 p e rc e n ta g e p o in t. In D e c em b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in Illino is was 5.7 p e rc e n t, u p fra c tio n a lly since D e c em b er 1977. D e c e m b e r 1978 ra te s in m a jo r m e tro p o lita n a re a s o f th e S ta te ra n g e d from 4.5 p e rc e n t in D a v e n p o rt-R o c k Isla n d -M o lin e a n d 4.6 p e rc e n t in B lo o m in gto nN o rm a l to 6.4 p e rc e n t in D e c a tu r. T h e ra te in C h ic a g o , w hich a c co u n ts fo r m o re th a n th re e -fifth s o f Illin o is’ la b o r forc e, w a s 5.3 p ercent. W ith th e la b o r fo rce inc re a sing 139,000 a n d to ta l e m p lo y m e n t inc re a sing 158,000, unemployment dec line d 19,000, to 293,000. In 1978:IV, th e unemployment rate in Illino is w as 5.4 p erc e n t, fra ctio n a lly less th a n th e n a tio n a l a v e rag e ra te . Illin o is’ u n e m p lo y m e n t ra te declined Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : I l l i n o i s Ch a r t 6 .— U n e m p l o y m e n t Ra t e s , 19 77:1V — 19 78 :1V Pe r c e n t M il li o n s 6.0 4 .0 - - La b o r Fo r c e 2 .0 Em p l o y m e n t - - | ^ j 19 77:1V Un e m p l o y m e n t ^ 19 78 : I V 0 .0 T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Il l i n oi s Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 U .S . St a t e U.S . St a t e 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 4 ,6 4 9 4 ,6 6 3 4 ,75 9 4 ,78 9 4 .3 M i n i n g ....................................................................................................................................................................................... 78 7 899 28 23 27 26 8 .2 2 .4 - 5 .3 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 19 2 18 0 19 8 18 7 10 .4 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 1,2 4 3 1,2 4 2 1,2 4 0 1,2 5 5 3 .1 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 2 76 2 78 28 3 28 6 3 .8 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 1,0 5 8 1,0 8 0 1,0 70 1,0 9 1 5 .3 1.2 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 2 72 2 71 28 2 28 1 4 .8 3 .4 3 .2 - .2 2 .5 4 .2 2 .7 14 .2 12 .4 11.3 4 .2 3 .7 1.0 4 .4 3 .1 4 .5 - 2 .0 1.0 3 .8 S e r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 862 852 891 884 4 .6 3 .3 4 .4 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 718 73 7 76 9 779 2 .1 7 .1 1.4 5 .7 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 5 ,2 8 9 5 ,2 6 8 5 ,3 9 1 5 ,4 0 7 3 .2 1.9 3 .1 2 .6 To t a l e m p l o y e d .................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 4 ,9 6 1 4 ,9 5 6 5 ,0 76 5 ,114 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 328 3 12 3 14 293 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 6 .2 5 .9 5 .8 5 .4 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r ea t es a b r e ak i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xe r c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 4 .1 - 9 .8 — 2 .3 3 .9 - 4 .3 — - 8 .8 — 3 .6 3 .2 - 6 .3 — A p r il 1979 115 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e I n d e », 19 72 = 10 0 Ch a r t 8 .— Ci v i l i a n Em p l o y m e n t i n t o , 19 72 = 10 0 Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n M illi o n s o f No n a g r i c u l t u r a l Em p l o y m e n t : I l l i n o i s 116 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS C o m m er cia l B a n k in g D u e to c ha nges in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o s it In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o r t to in clu de th e com m e rcial b a n k in g discu ssion a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T he com m e rcial b a n k in g ta b le 5 is show n below . 12 T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 U .S . Il l i n oi s Un i t e d St a t e s St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 Pe r c e n M i l l i o n s o f d o l l a r s , n o t se a s o n a l l y a d j u s e d ' St a t e 1 9 7 7 :1 V - 19 77:111— c hang e1 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 4 5 ,78 1 4 7,6 74 5 2 ,8 6 4 n .a . 16 .3 15 .5 — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 17,0 4 6 17,7 5 5 2 0 ,15 0 n .a . 14 .2 18 .2 — — — — — — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 8 ,119 8 ,4 3 4 9 ,5 10 n .a . 2 0 .2 1 7 .1 Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 10 ,718 11,3 3 9 13 ,3 11 n .a . 19 .9 2 4 .2 Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 6 ,5 11 6 ,8 77 8 ,13 8 n .a . 2 1.3 2 5 .0 Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 501 5 21 596 n .a . 10 .7 18 .9 Ot h e r ................................................................................................................................................................................... 6 8 ,9 6 8 n .a . 3 ,70 6 3 ,9 4 1 4 ,5 7 7 n .a . 19 .0 2 3 .5 Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 1,8 4 1 1,8 18 2 ,0 13 n .a . 6 .8 9 .4 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 8 ,0 5 7 8 ,3 2 7 7,8 79 n .a . 8 .0 — — — — — — — — — — — 9 2 5 ,5 11 n .a . 6 5 ,0 19 6 8 ,8 3 7 71,5 4 2 n .a . 11.5 10 .0 3 77,6 8 3 n .a . 2 1,4 3 8 2 4 ,5 0 3 2 3 ,5 4 1 n .a . 10 .2 9 .8 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 4 3 ,5 8 2 4 4 ,3 3 3 4 8 ,0 0 1 n .a . 12 .3 10 .1 So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — - 2 .2 To t a l d e p o s i t s ................................................................................................................................................ 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . — .---------- — D e m a n d ................................................................................................................................................................................... 2 . Ba s e d o n u n r o u n d e d d a t a . — C o n str u c tio n F ro m 1977:1V to 1978:1 V, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d only 2.9 p e rc e n t in th e S ta te v ersus 16.8 p erc e n t in th e N a tio n (ta b le 6). In 1978:IV, c o n tra c ts in th e S ta te to ta le d S2.0 billion, fo r an in cre a se o f $55 m illion over th e year. N a tio n a l c o n stru c tio n co sts inc re a se d a b o u t 13 p e rce nt; if th is incre ase is re p re s e n ta tiv e o f c o st c ha n ge s in Illino is, th e real v a lu a tio n o f c o n s tru c tio n c o n tra c ts dec line d a b o u t 10 pe rc e n t versus a n a tio n a l in cre ase o f a b o u t 4 p ercen t. T h e re sid e n tia l c o n s tru c tio n m a rk e t w as w eak in Illino is. T h e v a lu a tio n o f re sid e n tia l h o use k e e p in g c o n tra c ts in c re ased only 0.9 p e rc e n t versus 15.6 p e rc e n t in th e N a tio n . F o rty -fo u r S ta tes h a d la rg e r increases. T h e n u m b e r o f dw elling u n its sta rte d dec line d 11.8 p e rc e n t (2,378 u n its), to 17,807 u n its. O nly eig ht S ta te s h a d dec line s th a t w e re la rg e r th a n Il lin o is’. N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w as v irtu a lly u n c h a n g e d a t a high level. C o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o u se k e e p in g u n its in cre a se d 10.1 p e rc e n t in Ch a r t 1 4 .— Co n s t r u c t i o n C o n t r a c t s — To t a l Va l u a t i o n I n d e «, 19 7 6 = 10 0 T he v a lu a tio n o f n o n b u ild in g c o n tra c ts dec line d 44.7 p e rc e n t in Illino is versus an in cre ase o f 22.2 p e rc e n t in th e N a tio n . A $79 m illion c o n tra c t in 1977:1 V fo r th e c o n s tru c tio n o f a sew age tu n n e l in C o o k C o u n ty ra ise d th e S ta te ’s v a lu a tio n o f n o n b u ild in g c o n tra c ts to a n u n u su a lly h igh level, th e re b y d is to rtin g th e su b se q u e n t y e a r-to -y e a r c ha nge . A lso c o n trib u tin g to w e akne ss in n o n b u ild in g w as a d e cline o f 27.1 p e rc e n t in th e v a lu a tio n o f stre e t a n d h ig hw ay c o n tra c ts . N a tio n a lly , stre e t a n d highw ay c o n tra c ts dec line d 16.3 p e rc e n t in v a lu a tio n . T h e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts in c re a se d 43.7 p e rc e n t in th e S ta te versus 15.8 p e rc e n t in th e N a tio n . In 1978:IV, a $63 m illion office building w as c o n tra c te d fo r in C o o k C o u n ty . E x clu din g th is c o n tra c t, th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts w ou ld h a ve in cre a se d 27 p ercent. Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : I l l i n o i s Bil l io n $ Ch a r t Pe r c e n t v a lu a tio n , lagging th e n a tio n a l a v e ra g e in cre ase by 4.5 p e rc e n ta g e p oin ts. 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d N u m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 7 7 :1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 ' Il l i n oi s Un i t e d St a t e s U .S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:1V 19 77:111 19 78 :111 19 78 :1V 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s ............................................................................................................... St a t e 19 7 : 1 V - 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 2 ,19 5 ,6 3 2 1,8 9 6 ,9 13 2 ,3 78 ,4 2 4 1,9 5 2 ,8 5 5 14 .5 8 .3 16 .8 2 .9 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 4 8 2 ,2 9 4 3 76 ,3 6 2 5 0 0 ,9 77 4 14 ,4 3 6 16 .8 3 .9 14 .6 10 .1 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 3 ,3 15 2 ,8 0 5 3 ,0 3 0 2 ,2 4 6 4 .4 - 9 .3 - 1 9 .9 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 1,713 ,3 3 8 1,5 2 0 ,5 5 1 1,8 7 7 ,4 4 7 1,5 3 8 ,4 19 14 .0 - 8 .6 9 .6 17 .4 1.2 f l o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 4 8 ,6 13 4 1,5 6 0 5 1,10 6 4 1,6 8 3 10 .8 5 .1 10 .2 .3 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 70 2 662 6 20 5 79 - 5 .1 - 1 1 .7 - 4 .3 - 1 2 .5 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 2 3 ,4 3 9 2 0 ,18 5 2 3 ,16 7 17,8 0 7 1.0 - 1 .2 - .6 - 1 1 .8 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 9 2 2 ,0 77 8 0 1,5 5 3 1,0 0 0 ,6 3 7 8 0 8 ,9 5 8 15 .3 8 .5 15 .6 .9 Fl o o r a r e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 3 2 ,4 4 5 2 8 ,2 0 0 3 4 ,2 8 3 2 6 ,6 0 3 10 .3 5 .7 10 .7 - 5 .7 - 1 0 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 505 24 24 9 11 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 8 5 ,5 72 10 ,2 0 4 4 ,6 5 6 12 ,4 2 9 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 1,4 3 9 18 3 113 20 1 - 6 2 .5 - .4 - 9 4 .6 4 4 .8 2 1.8 - .7 - 9 2 .1 2 4 .7 10 .2 9 .4 - 5 4 .2 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 1,3 9 8 1,3 4 6 1 ,1 1 3 1,0 0 1 - 2 .5 - 2 0 .4 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 4 5 9 ,0 3 5 3 6 7 ,7 7 7 5 5 7,2 6 5 5 2 8 ,6 13 2 7.6 2 1.4 - 1 2 .0 15 .8 - 2 5 .6 4 3 .7 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 14 ,72 9 13 ,178 16 ,710 14 ,8 79 12 .2 13 .4 8 .9 12 .9 2 2 .4 8 .1 - 9 .1 - 1 5 .3 2 7 .7 2 2 .2 - 4 4 .7 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 1,19 1 773 1,2 8 8 655 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 4 6 ,6 5 4 3 4 1,0 17 3 14 ,8 8 9 18 8 ,4 19 - .1 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 4 74 22 8 501 18 2 9 .3 5 .7 - 1 7 .8 - 2 0 .2 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 9 6 ,3 9 6 9 5 ,9 2 5 12 8 ,4 3 2 6 9 ,9 4 8 3 .0 3 3 .2 - 1 6 .3 - 2 7 .1 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a ys . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an g es f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . R e ta il S a le s R e ta il sales in Illin o is to ta le d $12.3 billion in 1978:IV, up 10.0 p e rc e n t ($1.1 b illio n) since 1977:IV , c o m p a re d w ith a n 11.2-percent n a tio n a l in cre ase (ta b le 7). In 1978:IV, n o n d u ra b le g o o d s a c c o u n te d fo r $8.2 billion , a n d d u ra b le g o o d s a c c o u n te d fo r $4.1 billion . T A B LE 7 .— Re t ai l Sa l e s , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Il l i n oi s Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V 19 78 :1V 19 78 :111 M ill io ns of do ll ar s , not seasonally ad jus ted Pe r c e n t c h an ge Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 9 ,8 2 2 10 ,73 2 12 ,3 2 1 10 .3 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . 3 ,775 4 ,0 8 4 11.8 — 15 .3 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . 6 ,9 5 7 8 ,2 3 7 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . 11,19 9 9 .3 11.2 10 .0 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d I l l i n o i s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Il l i n oi s Un i t e d St a t e s U.S . St a t e 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 1 9 7 7 :1 V - To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 10 9 ,4 11 1,6 8 4 n .a . n .a . 4 ,2 5 3 99 19 78 :1V 19 78 :111 Pe r c e n t c h an ge No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ St a t e U .S . 19 77:111 — 4 ,4 3 4 93 4 ,78 1 95 n .a . n .a . 12 .4 8 .2 - 9 .5 — — - 4 .0 — — — Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 3 0 ,73 4 16 ,3 8 5 2 2 ,9 9 0 n .a . - 4 4 .2 - 2 5 .2 — Ave r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 3 10 176 242 n .a . - 3 8 .4 — 2 1.9 — — M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 21 8 15 n .a . - 1 0 .1 - 2 8 .6 — — C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 11 12 13 n .a . 1.0 18 .2 — — W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 13 13 13 n .a . - 2 7 .1 .0 — — Re t a i l t r a d e ........................................................................................................................................................................... 688 n .a . 42 45 40 n .a . - 4 .2 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 12 15 14 n .a . - 2 4 .0 Bu s i n e s s fai l u r es b y i n d u s t r y - 4 .8 16 .7 — — — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.- T h i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o t Du n & Br a d st r e et , In c . A p r il 1979 119 H ig h lig h ts 1977:1V to 1978 :IV Personal income — U p 13.9%, 1.3 p e rc e n ta g e p o in ts m o re th a n in U .S . — S tro n g in cre ases in c o n stru c tio n , fin a n c e -in su ra n c e -re a l e sta te , g o v e rn m e n t, a n d fa rm ing Consumer prices — U p 11.1% in C in c in n a ti a n d 9.9% in C h ic ag o vs. 8.9% in U .S. Employment — U p 4.8% vs. 3.9% in U .S ., to 2.5 m illion Unemployment — U p 15,000, to 139,000 — R a te up to 5.3% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 52.1% vs. 16.8% in U .S ., to $2.1 billion — S ta te ga in tra c e a b le to a n electric g e n e ra tin g p la n t c o n tra c t in 1978:1V — N u m b e r o f d w e lling -u n it sta rts dec line d 20.2% vs. n e a r stab ility in U .S ., to 8,657 Retail sales — U p 12.4% vs. 11.2% in U .S ., to $5.7 billion T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 n dian a Un i t e d St a t e s U .S . St a t e U .S . 19 77:111 — 19 78 : IV 19 77:1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V 19 78 :1V 19 78 :111 Pe r c e n t c h an g e Al l i n d i c a t o r s , e xc e p t i n c o m e , n ot s e a s o n a l l y a d j u s t e d To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 ! 1,78 2 ,5 19 3 7,3 6 0 3 8 ,19 4 4 1 ,8 7 1 4 3 ,4 9 8 12 .4 1 2 .1 12 .6 13 .9 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 2 4 ,76 6 2 5 ,0 9 8 2 7,6 2 0 2 8 ,4 2 3 12 .1 11.5 12 .6 13 .2 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 2 ,3 4 9 2 ,3 4 9 2 ,4 4 3 2 ,4 6 3 4 .1 4 .0 3 .9 4 .8 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 12 8 12 4 14 1 13 9 10 .0 - 8 .8 1 2 .1 - 9 .8 — — Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 5 .2 5 .0 5 .4 5 .3 To t a l l o a ns (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 13 ,2 5 2 13 ,6 9 1 15 ,3 4 7 n .a . 16 .3 — — 15 .8 — — — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 2 0 ,2 0 2 2 1,8 0 4 2 2 ,3 14 n .a . 11.5 10 .5 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 1,8 4 0 ,5 6 6 1,3 8 8 ,5 5 8 1,5 5 6 ,76 8 2 ,111,9 0 6 14 .5 - 1 5 .4 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 11,9 74 10 ,8 5 2 11,6 9 3 8 ,6 5 7 1.0 - 2 .3 To t a l r e ta i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 4 ,5 3 0 5 ,0 4 2 5 ,14 8 5 ,6 6 7 10 .3 13 .6 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 2 ,10 5 1,0 4 8 2 ,70 3 n .a . 8 .2 2 8 .4 — — Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 26 43 33 n .a . 2 6 .9 — — Ch i c a g o ...................................................................................................................................................................... 18 5 .3 — 2 0 1.8 — 17 7 .4 179 .4 19 1.8 19 7 .1 C i n c i n n a t i ................................................................................................................................................................. — — 18 5 .2 18 6 .7 2 0 2 .3 2 0 7.5 - 9 .5 5 2 .1 16 .8 - .6 - 2 0 .2 12 .4 11.2 Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : See t a b l e s 2 t h r o u g h 8 . 7.9 — — 8 .9 8 .1 9 .2 — — 9 .9 11.1 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S 120 A n a ly s is P e r so n a l In c o m e Total personal income (se a son ally a d ju s te d a t a n n u a l ra te s) increased 13.9 p e rc e n t from 1977:1 V to 1978:IV, 1.3 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly (ta b le 2). In 1978:IV , In d ia n a ’s to ta l p e rso n a l in c o m e w as $43.5 b illio n, fo r a n in cre a se o f $5.3 billion since 1977:IV. N o n fa rm in co m e in c re a se d 12.8 p e rc e n t, 0.5 p erc e n ta g e p o in t m o re th a n n a tio n a l ly; a m o n g all S ta tes, In d ia n a ’s in cre a se ra n k e d 20th. F a rm in co m e inc re a se d 66.4 p erc e n t in th e S ta te versus 26.3 p e rc e n t in th e N a tio n ; a m o n g all S ta tes, In d ia n a ’s in cre ase ra n k e d 12th. Since th e last n a tio n a l busin ess cycle peak (1973:1 V), I n d ia n a ’s e c o n o m ic g ro w th h as bee n close to th e n a tio n a l average; th e in cre ase in n o n fa rm in co m e w as 2 p e rc e n t less th a n na tion ally , ra n k in g In d ia n a 34th a m o n g all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V [ Se a s o n a l l y a d j u s t e d ] Consumer prices from 1977:IV to 1978:1V in c re a se d 9.9 p e rc e n t in the C h ic ag o m e tro p o lita n a re a a n d 11.1 p e rc e n t in C in c in n a ti; b o th o f these incre ases w ere well a b o v e th e n a tio n a l a v e rag e in cre ase o f 8.9 p erc e n t (ta b le 3). I f th e a v e rag e p ric e in cre ase in th e tw o a re a s— 10.5 p e rc e n t— is used as a n in d ic a to r fo r p ric e m o v em en ts in In d ia n a , re al to ta l p e rson al in com e in th e S ta te in cre a se d 3.4 pe rc e n t versus 3.7 p e rc e n t n a tio n a lly . W age and salary disbursements (p a yrolls) in c re a se d 13.2 p erc e n t in In d ia n a versus 12.6 p e rc e n t in th e N a tio n . In 1978:1V, p ay ro lls to ta le d $28.4 billion, up $3.3 b illio n since 1977:IV. C o n s tru c tio n p a y ro lls in c re a se d 30.7 p e rc e n t in th e S ta te versus 20.1 p e rc e n t in th e N a tio n . M in in g p a yro lls in cre ased 44.2 p e rc e n t in In d ia n a versus 33.9 p erc e n t in th e N a tio n ; th e 1977:1 V level h a d been u nu sually low d u e to a co a l m in e rs’ strik e. G o v e rn m e n t p a y ro lls also increased m o re in In d ia n a th a n in th e N a tio n — 7.7 p e rc e n t v ersus 6.9 p erc en t n atio n a lly . S tre n g th w as e vid e n t in b o th F e de ra l G o v e rn m e n t p ay ro lls a n d S ta te a n d local g o v e rn m e n t p ay rolls. In c o n tra s t, p ay ro lls in p riv a te service-type in d u strie s in cre a se d a b o u t as m uch in In d ia n a (13.2 p e rc e n t) as in th e N a tio n . T h e S ta te ’s in crease in fin a n c e-insu ra n ce -re a l e sta te w as abo ve th e n a tio n a l av erage , a nd the incre ase in services w as below th e n a tio n a l average. M a n u fa c tu rin g p a y rolls in c re a se d 12.4 p e rc e n t, n ea rly 1 p e rc en tag e p o in t less th a n n atio n a lly . W e ak n ess e x te n d e d to b o th d u ra b le a n d n o n d u ra b le g oo d s. Pe r c e n t W ith th e S ta te a n d n a tio n a l ec o no m ie s c o n tin u in g to e x p a n d , S ta te u n e m p lo y m e n t in su ra n c e bene fits dec line d 28.6 p e rc e n t in In d ia n a a n d 30.3 p e rc e n t in th e N a tio n . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 : 1 V - 19 78 :1V Pe r c e n t □ Un i t e d St a t e s Ch i c a g o Ci n c i n n a t i To t a l Pe r s o n a l M an u fac tu rin g In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l In c om e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : I n d i a n a [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] In d e x, 19 72 = 10 0 Billion s T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 In d i a n a Un i t e d St a t e s U .S . St a t e US. 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V - 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 M i l l i o n s o f d o l l a r s , s e a s o n al l y a d j u s t e d a t a n n u a l r a t e s ' To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 3 7,3 6 0 3 8 ,19 4 4 1 ,8 7 1 4 3 ,4 9 8 12 .4 12 .1 12 .6 13 .9 Fa r m p e r so n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 5 56 74 0 78 6 1,2 3 1 4 7.9 4 1.4 2 6 .3 6 6 .4 No n f a r m p e r so n al i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 3 6 ,8 0 4 3 7,4 5 4 4 1,0 8 5 4 2 ,2 6 6 11.9 11.6 12 .3 12 .8 To t a l p e r s o n a l I n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 3 7,3 6 0 3 8 ,19 4 4 1 ,8 7 1 4 3 ,4 9 8 12 .4 12 .1 12 .6 13 .9 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 2 4 ,76 6 2 5 ,0 9 8 2 7,6 2 0 2 8 ,4 2 3 12 .1 11.5 12 .6 13 .2 Ot h e r l a b or i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 2 ,70 9 2 ,78 7 3 ,13 5 3 ,2 3 3 17.0 15 .7 16 .4 16 .0 Pr o p r i e t o r s ' i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 2 ,2 75 2 ,4 71 2 ,713 3 ,2 4 4 2 1.5 19 .3 18 .9 3 1.3 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 39 9 580 6 15 1,0 5 1 6 6 .6 5 4 .0 3 1.3 8 1.1 N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 1,8 76 1,8 9 1 2 ,0 9 9 2 ,19 3 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 4 ,8 4 1 4 ,9 5 8 5 ,3 9 2 5 ,5 4 1 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... ' 12 .8 11.9 15 .3 16 .0 12 .3 11.4 12 .8 11.8 2 15 ,9 4 4 2 3 3 ,75 0 4 ,14 5 4 ,2 5 0 4 ,5 6 7 4 ,6 4 0 8 .8 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 79 10 6 78 76 - 2 4 .0 Le s s : p e r s o n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 1,4 8 7 1,4 9 4 1,6 8 4 1,7 2 1 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 110 12 4 12 8 13 8 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 2 4 ,76 6 2 5 ,0 9 8 2 7,6 2 0 2 8 ,4 2 3 12 .1 11.5 12 .6 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 15 3 15 6 16 7 176 8 .5 9 .3 10 .6 12 .8 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 2 4 ,6 13 2 4 ,9 4 2 2 7,4 5 3 2 8 ,2 4 7 12 .1 11.5 12 .6 13 .2 M i n i n g .......................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 16 3 14 8 20 4 2 13 2 6 .5 2 4 .9 3 3 .9 4 4 .2 Co n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 1,3 8 3 1,3 4 1 1,6 4 1 1,75 3 19 .1 18 .7 2 0 .1 3 0 .7 M a n u f a c t u r i n g ....................................................................................................................................................... 2 7 6 ,112 3 12 ,9 70 10 ,6 8 5 10 ,8 8 8 11,8 7 1 12 ,2 4 2 12 .1 11 .1 13 .3 12 .4 Du r a b l e g o o d s ................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 8 ,5 0 9 8 ,6 8 0 9 ,5 18 9 ,8 2 7 13 .7 11.9 15 .2 13 .2 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 2 ,1 7 7 2 ,2 0 8 2 ,3 5 3 2 ,4 15 9 .4 8 .1 10 .0 9 .4 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 8 ,9 77 9 ,0 8 2 9 ,9 8 9 10 ,2 8 5 12 .8 11.3 13 .1 13 .2 5 15 ,3 4 8 10 .2 - 1 .5 14 .8 8 .2 9 .2 - 3 0 .3 - 2 8 .6 13 .2 — — 15 .1 15 .2 — — 13 .2 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 1,6 6 3 1,6 6 4 1 ,7 7 2 1,8 5 5 10 .4 6 .6 11.3 11.5 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 3 ,78 5 3 ,8 19 4 ,2 6 0 4 ,3 74 13 .6 12 .6 14 .1 14 .5 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 9 74 1,0 16 1 ,1 4 1 1 ,1 7 5 14 .1 1 7 .2 13 .2 15 .7 11.5 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 2 ,5 5 6 2 ,5 8 4 2 ,8 16 2 ,8 8 1 12 .6 10 .2 12 .7 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 3 ,3 6 9 3 ,4 4 8 3 ,70 6 3 ,713 7.4 10 .0 6 .9 7 .7 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 73 7 771 79 6 835 7.3 8 .1 7 .1 8 .4 St a t e a n d l oc al ................................................................................................................................................ 13 3 ,0 76 14 2 ,0 8 0 2 ,6 3 3 2 ,6 77 2 ,9 10 2 ,8 78 7.5 10 .5 6 .8 7.5 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 35 36 41 41 18 .7 17.6 14 .6 14 .8 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 In d i an a Un i t e d St a t e s U .S . St a t e 19 77:111 — 19 77:1V 19 78 : IV 19 77:111 19 77:1V 19 78 :111 19 78 :1V U .S . c i t y a ver a g e 2 ........................................................................................................................................ 18 5 .3 7.9 Ci n c i n n a t i .............................................................................................................................................................................. 18 5 .2 ___ _ _ _ _ 18 6 ,7 1 . Co n s u m e r Pr i c e I n d e xe s ar e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 19 78 :1V Pe r c e n t c h an ge 2 0 1.8 1 7 7 .4 179 .4 St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d Ch i c a g o .................................................................................................................................................................................... U .S . 19 1.8 ___ 2 H 2 J___ 19 7 .1 ___ 2 0 7.5 8 .9 8 .1 ____ 1 2 __ 9 .9 I L I . N O T E.— Un r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 7 8 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . STATE QU ARTER LY 122 E C O N O M IC D EVELO PM EN TS L abor F orce F ro m 1977:IV to 1978:IV, th e civilian labor force in In d ia n a inc re a se d 5.2 p e rc e n t, 2.1 p e rc e n ta g e p o in ts m o re th a n in th e N a tio n (ta b le 4). In d ia n a ’s in cre a se ra n k e d fifth in th e N a tio n , a fte r increases in A la sk a , W e st V irg in ia, O re g o n , a n d W yo m ing. Total employment in In d ia n a in c re a se d 4.8 p e rc e n t, 0.9 p e rc e n ta g e p o in t m o re th a n in th e N a tio n , to 2.5 m illion. In d ia n a ’s e m p lo y m e n t in cre a se w as th e sec ond large st in th e G r e a t L ake s re gio n, a fte r O h io ’s 5.2 -p erc e n t increase. W ith th e la b o r fo rce inc re a sing 129,000 a n d to ta l e m p lo y m e n t in cre a sin g 114,000, unemployment in cre a se d 15,000, to 139,000. In 1978:1V, th e S ta te ’s unemployment rate w a s 5.3 p e rc e n t, slightly less th a n th e N a tio n ’s ra te . F ro m y e a r to ye a r, th e u n e m p lo y m e n t ra te inc re a se d Ch a r t 0.3 p e rc e n ta g e p o in t in In d ia n a — o n e o f only te n S ta tes to re gister a n in cre a se — versus a d ec line o f 0.7 p e rc e n ta g e p o in t in th e N a tio n . In D e c em b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in In d ia n a w as 5.9 p e rc e n t. R a te s in m a jo r m e tro p o lita n a re a s o f th e S ta te ra n g e d from 5.2 p e rc e n t in b o th In d ia n a p o lis a n d F t. W a yn e to 6.6 p e rc e n t in E vansville. F ro m D e c em b e r 1977 to D e c e m b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te inc re a se d 2.2 p e rc e n ta g e p o in ts in E vansville, c o m p a r e d w ith a sta tew id e in cre ase o f o n ly 0.5 p e rc e n ta g e p o in t; th e in cre a se in E vansville w as th e la rge st a m o n g all m a jo r m e tro p o lita n a re a s in th e S ta te. O n ly o n e a re a , T e r re H a u te , re gistere d a decline— 0.5 p e rc e n ta g e p o in t— to 5.7 p ercent. 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : I n d i a n a Ch a r t M il li o n s 6 .— U n e m p l o y m e n t Ra t e s , 1 9 7 7 :I V - 1 9 7 8 : I V Pe r c e n t La b o r Fo r c e Em p l o y m e n t ^ 19 7 7 :I V B 8 3 19 78 :1V Un e m p l o y m e n t T A B LE 4 — La b o r Fo r c e , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 In d i a n a Un i t e d St a t e s US. St a t e US. 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 19 7 7:1V — 19 77:111— 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 2 ,1 1 7 2 ,12 6 2 ,2 0 1 2 ,2 13 4 .3 4 .0 4 .2 4 .1 M i n i n g ...................................................................................................................................................................................... 78 7 899 9 8 10 9 8 .2 4 .4 14 .2 2 1.1 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 97 92 10 7 10 6 10 .4 9 .6 11.3 15 .3 19 ,9 8 6 2 0 ,72 2 715 718 73 7 74 6 3 .1 3 .1 3 .7 3 .9 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 10 6 10 6 10 8 10 9 3 .8 1.4 4 .4 2 .8 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 45 9 468 4 78 48 3 5 .3 4 .3 4 .5 3 .2 - 2 .0 M a n u f a c t u r i n g ................................................................................................................................................................... Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 94 93 96 96 4 .8 2 .9 Se r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 29 6 29 3 305 301 4 .6 2 .8 4 .4 3 .7 2 .8 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 341 3 49 361 363 2 .1 5 .9 1.4 4 .2 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 2 ,4 7 7 2 ,4 73 2 ,5 8 3 2 ,6 0 2 3 .2 4 .3 3 .1 5 .2 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 2 ,3 4 9 2 ,3 4 9 2 ,4 4 3 2 ,4 6 3 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 12 8 12 4 14 1 13 9 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b ei n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e a k i n t h e s e r i e s , a n d u se r s ar e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 5 .5 5 .2 5 .0 5 .4 5 .3 4 .1 - 9 .8 — 4 .0 3 .9 4 .8 10 .0 - 8 .8 12 .1 — A p r il 123 1979 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e I n d e x , 1 9 7 2 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t In d e x, 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t M il li o n s 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : I n d i a n a 124 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS C o m m er cia l B a n k in g D u e to c ha n ge s in th e d a ta re p o rtin g p ra ctice s o f th e F e de ra l D e p o s it In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b an k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu de th e com m e rcial b a n k in g discu ssion a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 In d i a n a Un i t e d St a t e s U .S . St a t e US. 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 : IV 19 78 :111 M ill io ns o f do ll ar s , not seaso nally a d ju s te d 1 St a t e 19 77:1V — 19 78 :1V Pe r c e n t c h a n g e ’ To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 13 ,2 5 2 13 ,6 9 1 15 ,3 4 7 n .a . 16 .3 15 .8 — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 2 ,8 3 9 2 ,9 6 2 3 ,2 8 8 n .a . 14 .2 15 .8 — — Lo a n s t o I n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 3 ,6 0 4 3 ,72 2 4 ,2 2 4 n .a . 2 0 .2 17.2 — — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 5 ,5 15 5 ,76 5 6 ,4 5 3 n .a . 19 .9 17.0 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 3 ,3 5 7 3 ,5 4 9 4 ,0 70 n .a . 2 1.3 2 1.3 — — Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 49 2 505 5 49 n .a . 10 .7 11.5 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 1,6 6 6 1 ,7 1 1 1,8 3 4 n .a . 19 .0 10 .1 Fa r m s , e xc l u d i n g r eal e s t at e .................................................................................................................................. 2 5 ,70 4 n .a . 78 7 76 0 8 76 n .a . 6 .8 11.3 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 506 48 2 506 n .a . 8 .0 .1 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 2 0 ,2 0 2 2 1,8 0 4 2 2 ,3 14 n .a . 11.5 10 .5 D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 6 ,113 7,4 9 3 6 ,76 8 n .a . 10 .2 10 .7 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 14 ,0 8 8 14 ,3 12 15 ,5 4 5 n .a . 12 .3 10 .3 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d on u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — — — — — — — — — — — — C o n str u c tio n F ro m 1977:IV to 1978:IV, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 52.1 p e rc e n t in In d ia n a versus 16.8 p e rc e n t in th e N a tio n (ta b le 6). O n ly tw o S ta te s— H a w a ii a n d S o u th D a k o ta — h a d la rg e r g ains. In 1978:1V, c o n tra c ts in th e S ta te to ta le d $2.1 b illio n, fo r a g ain o ve r th e y e a r o f $723 m illion. A $1.2 billion c o n tra c t in 1978:IV fo r an e lec tric g e n e ra tin g p la n t in S p en ce r C o u n ty ra ise d th e to ta l v a lu a tio n o f c o n tra c ts to a n u n u sua lly h ig h level, th e re b y d is to rtin g th e y e a r-to -y e a r c ha nge . H o w e ver, a $450 m illion c o n tra c t in 1977.IV fo r a n e lec tric g e n e ra tin g p la n t in S ullivan C o u n ty o ffse t th e d is to rtin g effect o f th e S pen ce r C o u n ty c o n tra c t. I f b o th g e n e ra tin g p la n ts a re e xc lu de d, the to ta l v a lu a tio n o f c o n tra c ts in th e S ta te w o u ld have dec line d a b o u t 3 p ercent. N a tio n a l c o n s tru c tio n costs in cre a se d a b o u t 13 is re p re se n ta tiv e o f c o st c ha n g e s in In d ia n a , c o n stru c tio n c o n tra c ts (in clu din g th e g e n e ra tin g 39 p e rc e n t versus a n a tio n a l in cre a se o f a b o u t p e rce nt; if th is in cre ase th e re al v a lu a tio n o f pla n ts) in cre a se d a b o u t 4 p e rce nt. th e N a tio n . In c o n tra s t, th e v a lu a tio n o f stre e t a n d h ig hw ay c o n tra c ts declined 26.0 p e rc e n t in In d ia n a versus a d ec line o f 16.3 p e rc e n t in th e N a tio n . T h e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts dec line d 12.8 p e rc e n t in th e S ta te , in sh a rp c o n tra s t to th e g a in in th e N a tio n o f 15.8 p erc e n t. T h e re sid e ntia l c o n s tru c tio n m a rk e t w as w e a k in In d ia n a . C o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o u se k e e p in g u n its in c re a se d 4.9 p e rc e n t in v a lu a tio n in th e S ta te v ersus 14.6 p e rc e n t in th e N a tio n . T h e v a lu a tio n o f re sid e n tia l h o u se k e e p in g c o n tra c ts in c re a se d o nly 0.4 pe rc e n t versus a g ain o f 15.6 p e rc e n t in th e N a tio n . F o rty -six S ta te s h a d incre ases th a t w ere la rg e r th a n In d ia n a ’s. T h e n u m b e r o f dw e lling u n its s ta rte d dec line d 20.2 p e rc e n t. O n ly fo u r S ta tes h a d la rg e r d eclines. In 1978:IV, 8,657 dw elling u n its w ere s ta rte d in In d ia n a , fo r a d ec line over th e ye a r o f 2,195 u n its. N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its sta rte d w a s v irtu a lly u n c h a n g e d a t a high level. R eflec ting th e g e n e ra tin g p la n t c o n tra c ts , th e v a lu a tio n o f n o n b u ild in g c o n tra c ts inc re a se d 135.9 p e r c e n t ($745 m illion) versus 22.2 p e rc e n t in Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n Ch a r t Pe r c e n t Ch a r t 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : I n d i a n a Bil l io n $ In d e x. 19 76 = 10 0 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 — Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 In d i a n a Un i t e d St a t e s U .S . St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l v a l u a t i o n o f c o n t r a c t s ............................................................................................................... St a t e 1 9 7 7 :1 V - 19 77:111— ■ 19 78 :1V Pe r c e n c hange2 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 1,8 4 0 ,5 6 6 1,3 8 8 ,5 5 8 1,5 5 6 ,76 8 2 ,111,9 0 6 14 .5 - 1 5 .4 16 .8 5 2 .1 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 2 5 7,9 4 1 2 10 ,8 6 4 2 6 8 ,3 0 4 2 2 1,15 0 16 .8 4 .0 14 .6 4 .9 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 2 ,0 0 7 2 ,0 9 5 1,8 0 7 1,73 9 4 .4 - 1 0 .0 - 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 1,5 8 2 ,6 2 5 1,17 7 ,6 9 4 1,2 8 8 ,4 6 4 1,8 9 0 ,75 6 14 .0 - 1 8 .6 17.4 6 0 .5 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ................................................................................................ 8 8 1,4 5 3 9 71,5 9 6 2 6 ,4 0 8 2 4 ,0 74 2 7,0 5 0 2 0 ,8 6 0 10 .8 10 .2 - 1 3 .4 - 5 .1 2 .4 - 1 7 .0 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 39 2 40 9 390 382 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 11,9 74 10 ,8 5 2 11,6 9 3 8 ,6 5 7 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 4 4 3 ,0 15 3 71,70 6 4 9 9 ,2 0 1 3 73 ,2 6 7 15 .3 12 .7 15 .6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 16 ,9 12 14 ,5 6 9 18 ,2 9 3 13 ,5 76 10 .3 8 .2 10 .7 - 1 0 .0 1.0 - .5 - 4 .3 - 6 .6 - 2 .3 - .6 - 2 0 .2 .4 - 6 .8 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 17 14 14 10 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 8 ,0 2 4 6 ,9 5 0 6 ,0 9 2 5 ,3 3 5 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 23 2 225 19 9 175 - 1 7 .6 - .4 - 2 8 .6 - 2 4 .1 4 4 .8 - 2 3 .2 - .7 - 1 4 .4 2 4 .7 - 2 2 .1 - 1 7 .8 9 .4 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 1,18 8 1,3 10 9 76 950 - 2 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 2 5 1,3 0 9 2 5 0 ,6 10 3 79 ,75 2 2 18 ,4 70 2 7.6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 9 ,2 6 4 9 ,2 8 0 8 ,5 5 9 7,10 9 12 .2 2 2 .4 - 1 2 .0 5 1.1 - 7 .6 - 2 7 .5 15 .8 - 1 2 .8 8 .9 - 2 3 .4 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 4 10 36 2 427 39 7 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 8 8 0 ,2 77 5 4 8 ,4 2 8 4 0 3 ,4 19 1,2 9 3 ,6 8 4 4 .1 - 9 .1 9 .7 - .1 - 5 4 .2 2 2 .2 13 5 .9 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 13 3 91 16 3 12 4 9 .3 2 2 .6 - 1 7 .8 3 6 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 4 1,5 74 3 8 ,774 4 1,6 78 2 8 ,70 8 3 .0 .3 - 1 6 .3 - 2 6 .0 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an g es f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . R e ta il S a le s R eta il sales in In d ia n a to ta le d $5.7 b illio n in 1978.IV, up 12.4 p e rc e n t ($625 m illion) since 1977:IV , c o m p a re d w ith an 11 .2-percent n a tio n a l in cre ase (ta b le 7). In 1978:IV, n o n d u ra b le g o o d s a c c o u n te d fo r $3.7 billion, a n d d u ra b le g o o d s a c c o u n te d fo r $2.0 billion. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d I n d i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 7S Un i t e d St a t e s U.S . In d i an a St a t e US. 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 1 9 7 7 :1 V - 19 78 :111 Mill io ns o f do ll ar s , n ot seasonally ad jus ted 19 78 :1V Pe r c e n t c h an ge Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 4 ,5 3 0 5 ,0 4 2 5 ,14 8 5 ,6 6 7 10 .3 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . 1,9 6 8 1,9 7 7 11.8 — 15 .3 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . 3 ,18 0 3 ,6 9 0 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . 13 .6 1 1 .2 12 .4 So u r c e : U.S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d I n d i a n a Th r o u g h u n i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 U .S . In d i a n a St a t e U .S . 19 7 7 : I I 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V Ne w b u s i n e s s I n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 2 ,10 5 26 1,0 4 8 43 2 ,70 3 33 n .a . n .a . 19 7 8 :1V 19 7 3:111 No t s e a s o n a l l y a d j u s t e d 8 .2 - 9 .5 St a t e 19 7 7 I V - Pe r c e n t h an ge 2 8 .4 — 2 6 .9 — — — — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 3 ,6 6 7 7,76 6 5 ,5 6 8 n .a . - 4 4 .2 5 1.8 — Ave r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 14 1 18 1 16 9 n .a . - 3 8 .4 19 .9 — — Bu s i n e s s fa i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 3 2 2 n .a . - 1 0 .1 - 3 3 .3 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 7 18 7 n .a . 1.0 .0 - 2 0 .0 — — — — W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 5 3 4 n .a . - 2 7 .1 Re t a i l t r a d e ........................................................................................................................................................................... 688 n .a . 9 13 15 n .a . - 4 .2 6 6 .7 — — Co m m e r c i a l s e r v i c e s ..................................................................................................................................................... 23 8 n .a . 2 7 5 n .a . - 2 4 .0 15 0 .0 — — - - - n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E — Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . — A p r il 127 1979 H ig h lig h ts 1977:IV to 1978:IV Personal income — U p 13.5% vs. 12.6% in U .S ., to $23.7 billion — P ay ro lls up 17.8% in tra d e vs. 14.1% in U .S. — P ayrolls up 15.0% in services vs. 12.7% in U .S. Consumer prices — U p 8.4% in K a n sa s C ity a n d 11.1% in M in ne a p o lis-S t. P au l vs. 8.9% in U .S. Employment — U p 2.0% vs. 3.9% in U .S., to 1.4 m illion Unemployment — D o w n 2,000, to 47,000 — R a te dow n to 3.3% o f la b o r fo rce vs. 5.5% U .S. ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 1.3% vs. 16.8% in U .S ., to $526.4 m illion — V a lu a tio n of n o n b u ild in g c o n tra c ts d ow n 26.5% vs. 22.2% in c re a se in U .S. — N u m b e r o f dw e lling -u n it s ta rts up 2.7% vs. n e a r stab ility in U .S ., to 5,407 T A B LE 1 — Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 I ow a Un i t e d St a t e s U .S . St a t e U .S . 19 77:11 1 19 78 :1V 19 77:I V 19 77:1V 19 77:111 19 78 :111 19 78 I I I 19 78 :1V St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an g e Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 19 ,9 0 6 2 0 ,8 5 8 2 2 ,9 2 8 2 3 ,6 8 3 12 .4 15 .2 12 .6 13 .5 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s )........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 11,5 0 4 1 1 ,7 8 1 12 ,79 4 13 ,3 6 4 1 2 .1 1 1.2 12 .6 13 .4 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 1,3 5 6 1,3 3 9 1,3 8 6 1,3 6 6 4 .1 2 .2 3 .9 2 .0 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 53 49 46 47 - 1 2 .8 - 8 .8 - 5 .4 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 3 .8 3 .5 3 .2 3 .3 - 9 .8 — — — — — — To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 9 ,0 19 9 ,3 0 8 10 ,114 n .a . 16 .3 12 .1 — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 13 ,4 8 3 14 ,2 2 5 14 ,9 9 8 n .a . 11.5 1 1 .2 — To t a l v a l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 5 76 ,2 8 1 5 19 ,8 8 1 713 ,2 6 3 5 2 6 ,4 4 3 14 .5 2 3 .8 16 .8 1.3 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 6 ,5 9 1 5 ,2 6 6 7,8 8 3 5 ,4 0 7 1.0 19 .6 - .6 2 .7 To t a l r e t a i l sal e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a. n .a . n .a. 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 1,3 2 9 1,3 12 1,2 3 4 n .a . 8 .2 - 7 .1 — — Bu s i n e s s f a i l u r e s ( n u m b e r ) ................................................................................................................................... 1,6 8 4 n .a . 11 12 27 n .a . - 9 .5 14 5 .5 — — 18 5 .3 — 2 0 1.8 — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... Ka n s a s C i t y ............................................................................................................................................................... ____ M i n n e a p o l i s — S t . P a u l .................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : See t a b l e s 2 t h r o u g h 8 . _____ _____ _____ __ 18 0 .6 18 2 .7 19 4 .3 19 8 .1 18 4 .5 18 7.0 2 0 3 .5 2 0 7.7 7.9 — 1 1 .2 _____ — 7 .6 — 10 .3 8 .9 — _____ — 8 .4 — 11.1 S T A T E Q U A R T E R L Y E C O N O M IC 128 DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e T o ta l personal incom e (se a so na lly a d ju ste d a t a n n u a l ra te s) increased 13.5 p e rc e n t from 1977:1V to 1978:1 V v ersus 12.6 p e rc e n t n a tio n a lly (ta b le 2). In 1978:IV, th e S ta te ’s p e rso n a l in co m e to ta le d $23.7 billion, u p $2.8 b illio n since 1977:1V. Io w a ’s in cre a se in to ta l p e rso n a l in co m e w o u ld h a v e b ee n sm aller h a d it n o t been fo r a 27 .4 -p erc en t in cre ase in fa rm p e rso n a l in co m e , c o m p a re d w ith a 2 6 .3 -p erc en t n a tio n a l increase. T h e S ta te ’s n o n fa rm p e rso n a l in c o m e in cre a se d 12.4 p e rc e n t from ye a r to y ea r, a b o u t th e sam e as n a tio n a lly . S inc e th e m o st re c en t n a tio n a l b u sine ss cycle p e a k in 1973:1V, Io w a ’s n o n fa rm e c o n o m y h a s grow n m o re ra p id ly th a n th e N a tio n ’s; th e in cre a se in th e S ta te ’s n o n fa rm in co m e w as 9 p e rc e n t m o re th a n n a tio n a lly , ra n k in g Io w a 24th a m o n g all S ta tes. F ro m 1977:IV to 1978:IV, consum er price indexes for th e K a n sa s C ity a n d M in n e a p o lis-S t. P aul m e tro p o lita n a re a s inc re a se d 8.4 p e rc e n t a n d 11.1 p e rc e n t, resp ectively, c o m p a re d w ith a n 8 .9-percent n a tio n a l city Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V ave rag e in crease (ta b le 3). I f a n a v e ra g e o f th e tw o a re a indexes is used as a n in d ic a to r fo r p rice m o ve m e nts in th e S tate, real to ta l p e rso n a l in co m e in Iow a in c re ased a lm o st 4 p e rc e n t from y ea r to y e a r, a b o u t th e sam e as n atio n a lly . W age and salary disbursements (p a y ro lls) in c re a se d 13.4 p e rc e n t in the S ta te , c o m p a re d w ith a 12.6-percent n a tio n a l gain. In 1978:1V, the y to ta le d $13.4 billion, up $1.6 b illio n since 1977:IV. W ith in Io w a ’s p riv a te service-type in d u stry g ro u p , p a y ro lls in w holesale a n d re ta il tra d e in c re a se d 17.8 p e rc e n t versus 14.1 p e rc e n t n a tio n a lly . Io w a ’s in cre ase in tra d e p a y rolls, $387 m illion , a c c o u n te d fo r a lm o st 25 p e rc e n t o f th e y e a r-to -y e a r in cre ase in all p a y ro lls in th e S ta te. In services, p ay ro lls in c re ased 15.0 p e rc e n t v ersu s 12.7 p erc e n t n a tio n a lly . In c o n tra s t, p a y ro lls in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities in c re a se d 10.2 p e rc e n t, 1.1 p e rc e n ta g e p o in ts less th a n n a tio n a lly , a n d th o se in fin an c e -in su ra n c e -re a l e s ta te in c re a se d 12.8 p e rc e n t, 0.4 p e rc e n ta g e p o in t less th a n n a tio n a lly . In m a n u fa c tu rin g , n o n d u ra b le g o o d s p a y ro lls in cre a se d 13.0 p e rc e n t in th e S ta te , 3.0 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly , a n d d u ra b le g o o d s p a y ro lls in cre a se d 14.6 p erc e n t, 0.6 p e rc e n ta g e p o in t less th a n n a tio n a lly . [ Se a s o n a l l y a d j u s t e d ] F e d e ra l G o v e rn m e n t p a y ro lls in cre a se d 8.9 p e rc e n t from y e a r to y e a r v ersu s 7.1 p e rc e n t n a tio n a lly , a n d S ta te a n d local g o v e rn m e n t p ay ro lls in cre a se d 5.9 p e rc e n t versus 6.8 p e rc e n t n a tio n a lly . Io w a ’s S ta te a n d local g o v e rn m e n t p a y ro ll in cre ase w as o n e o f th e sm allest in th e N a tio n . C o n s tr u c tio n p a y ro lls in Io w a in cre a se d 18.7 p e rc e n t from y e a r to yea r, 1.4 p e rc e n ta g e p o in ts less th a n n a tio n a lly . F ro m 1977:IV to 1978:IV, S ta te u n e m p lo y m e n t in su ra n c e b en efits dec line d 23.9 p e rc e n t in Io w a a n d 30.3 p e rc e n t in th e N a tio n . Ch a r t 2 — Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V Pe r c e n t □ Un i t e d St a t e s n K a n s a s Ci t y M i n n e a p o l i s - S t . Pa u l To t a l Pe r s o n a l No n t a r m M an u fac tu r in g In c o m e Pe r s o n a l I n c o m e W a g e s a n d Sa l a r i e s Pr i v a t e S e r v i c e -t y p e W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l Inc om e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n [ Se a s o n a l l y a d j u s t e d ] o f W a g e s a n d Sa l a r i e s : I o w a [ Se a s o n a l l y a d j u s t e d ] In d e x , 1 9 7 2 = 100 B illio n $ T A B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 I ow a Un i t e d St a t e s 19 77:I V 19 78 :1V 19 77:111 19 77:I V U .S . 19 78 :111 St a t e US. St a t e 19 77:111 — 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V M i l l i o n s of d o l l ar s , season al l y ad j u s ted at an n u al r ate s1 Pe r c e n t c h a n g e 1 2 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 19 ,9 0 6 2 0 ,8 5 8 2 2 ,9 2 8 2 3 ,6 8 3 12 .4 15 .2 12 .6 13 .5 Fa r m p e r s o n a l i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 1,0 71 1,5 4 1 1,9 76 1,9 6 3 4 7.9 8 4 .4 2 6 .3 2 7.4 No n f a r m p e r so n al i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 18 ,8 3 5 19 ,3 18 2 0 ,9 5 2 2 1,72 0 11.9 11.2 12 .3 12 .4 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 19 ,9 0 6 2 0 ,8 5 8 2 2 ,9 2 8 2 3 ,6 8 3 12 .4 15 .2 12 .6 13 .5 1,0 13 ,2 16 1,14 0 ,6 9 6 11,5 0 4 1 1 ,7 8 1 12 ,79 4 13 ,3 6 4 12 .1 11.2 12 .6 13 .4 W a g e a n d s a l a r y d i s b u r s e m e n t s ............................................................................................................................... Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 1,0 78 1 ,1 1 4 1,2 3 7 1,2 9 6 17.0 14 .8 16 .4 Pr o p r i e t o r s ' i n c o m e ....................................................................................................................................................... 16 .4 10 5 ,9 5 3 12 5 ,9 9 5 2 ,2 16 2 ,70 2 3 ,2 6 9 3 ,2 9 9 2 1.5 4 7.6 18 .9 2 2 .1 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 8 24 1,2 8 7 1,70 4 1,6 7 7 6 6 .6 10 6 .8 3 1.3 3 0 .3 8 2 ,3 17 9 4 ,9 5 1 1,3 9 2 1,4 14 1,5 6 5 1,6 2 3 12 .8 12 .5 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 15 .3 1 4 .7 2 14 ,9 9 2 2 4 2 ,4 4 2 3 ,3 2 2 3 ,4 0 9 3 ,70 0 3 ,79 9 12 .3 11.4 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 12 .8 1 1 .4 2 15 ,9 4 4 2 3 3 ,75 0 2 ,4 74 2 ,5 4 8 2 ,713 2 ,74 4 8 .8 9 .7 8 .2 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 111 14 0 115 10 7 - 2 4 .0 3 .8 - 3 0 .3 Le s s : p e r s o n a l c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 78 3 79 3 890 9 20 14 .8 13 .7 Pl u s : r e si d e n c e a d j u s t m e n t ...................................................................................................................................... 15 .1 16 .1 -4 0 1 -4 73 95 98 10 5 10 0 W ag e a n d s al a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 11,5 0 4 1 1 ,7 8 1 12 ,79 4 13 ,3 6 4 12 .1 11.2 12 .6 13 .4 7 ,17 6 7,9 3 9 240 246 26 3 2 77 8 .5 9 .9 10 .6 1 2 .7 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 11,2 6 5 11,5 3 5 12 ,5 3 1 13 ,0 8 7 12 .1 11.2 12 .6 13 .5 14 ,0 4 8 18 ,8 13 33 31 40 41 2 6 .5 18 .8 3 3 .9 3 3 .6 18 .7 N o n f a r m .......................................................................................................................................................................... Fa r m ..................................................................................................................................................................................... N o n f a r m ........................................................................................................................................................................... M i n i n g ........................................................................................................................................................................... 7 .7 - 2 3 .9 C o n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 74 0 75 1 8 76 891 19 .1 M a n u f a c t u r i n g ....................................................................................................................................................... 18 .4 2 0 .1 2 76 ,112 3 12 ,9 70 3 ,5 0 4 3 ,5 8 2 3 ,8 2 5 4 ,0 8 3 12 .1 9 .2 Du r a b l e g o o d s .................................................................................................................................................. 13 .3 14 .0 176 ,2 16 2 0 3 ,0 5 3 2 ,2 5 7 2 ,3 2 6 2 ,4 3 8 2 ,6 6 5 13 .7 8 .0 15 .2 14 .6 No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 1,2 4 7 1,2 5 6 1,3 8 6 1,4 19 9 .4 11.2 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 10 .0 13 .0 4 5 5 ,76 4 5 15 ,3 4 8 4 ,9 3 3 5 ,0 2 3 5 ,5 8 9 5 ,78 5 12 .8 13 .3 13 .1 15 .2 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 8 24 8 23 883 907 10 .4 7.2 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 1 1.3 10 .2 170 ,8 8 8 19 5 ,0 3 5 2 ,14 4 2 ,17 4 2 ,4 8 1 2 ,5 6 1 13 .6 15 .7 14 .1 1 7 .8 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ........................................................................................... 5 4 ,4 5 2 6 1,6 5 3 580 600 658 6 76 14 .1 13 .6 13 .2 Se r v i c e s ....................................................................................................., ......................................................... 12 .8 15 3 ,8 4 0 173 ,3 9 6 1,3 8 6 1,4 2 6 1,5 6 7 1,6 4 1 12 .6 13 .1 12 .7 Go v e r n m e n t ............................................................................................................................................................. 15 .0 2 0 1,2 5 2 2 15 ,0 8 3 2 ,0 3 0 2 ,12 4 2 ,173 2 ,2 5 9 7.4 7 .1 Fe d e r a l ................................................................................................................................................................... 6 .9 6 .3 6 8 ,176 73 ,0 0 3 3 20 353 367 38 4 7.3 14 .8 St a t e a n d l o c a l ................................................................................................................................................ 7 .1 8 .9 13 3 ,0 76 14 2 ,0 8 0 1,7 10 1 ,7 7 1 1,8 0 6 1,8 75 7.5 5 .6 6 .8 5 .9 3 ,2 16 3 ,6 8 5 25 25 28 28 18 .7 12 .1 14 .6 9 .6 Ot h e r ............................................................................................................................................................................. 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U.S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Iow a US. St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 : I V 19 78 :111 m o e x , i y b / = i u u , n o n e aso r t al l y a d j u s t U .S . c i t y aver age-’ ....................................................................................................................................... 18 5 .3 St a t e 19 7 7:1V — l i 78 :1V Pe r c e n t c h a n g e 2 0 1.8 7.9 8 .9 Ka n s a s C i t y .......................................................................................................................................................................... 18 0 .6 18 2 .7 19 4 .3 19 8 .1 7.6 8 .4 M i n n e a p o i i s - S t . P a u l ................................................................................................................................................. 18 4 .5 18 7.0 2 0 3 .5 2 0 7.7 10 .3 1 1 .1 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a t a a r e a v a i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b a se d o n t h e 19 70 Ce n s u s o f Po p u l a t i o n . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . N O T E.— Un r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a ta a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 130 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS L abor F orce F ro m 1977:IV to 1978:IV, Io w a ’s civilian labor force in c re a se d 1.8 p e rc e n t v ersu s 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in c re a se d 2.0 p e rc e n t versus 3.9 p e rc e n t n a tio n a lly , to 1.4 m illion. Io w a ’s p e rc e n t in c re a se w as o n e o f th e sm allest in th e N a tio n . A m o n g Io w a ’s m a jo r m e tro p o lita n a re a s, p re lim in a ry u n e m p lo y m e n t ra te s fo r D e c em b e r 1978, w hen th e S ta te ’s ra te w a s 4.2 p erc e n t, ra nge d from 6.7 p e rc e n t in S ioux C ity to 3.4 p e rc e n t in C e d a r R a pid s. In D es M o ine s, th e S ta te ’s la rge st m e tro p o lita n a re a , th e p re lim in a ry u n e m p lo y m e n t ra te w as 3.8 p erc e n t. F ro m D e c e m b e r 1977 to D e ce m b er 1978, th e u n e m p lo y m e n t ra te inc re a se d 1.7 p e rc e n ta g e p o in ts in Sioux C ity , c o m p a re d w ith a n in cre a se o f only 0.2 p e rc e n ta g e p o in t statew ide; Sioux C ity ’s in cre ase w as th e large st a m o n g th e S ta te ’s m a jo r m e tro p o lita n areas. W ith e m p lo y m e n t in cre a sin g by 27,000 a n d th e la b o r forc e in c re a sin g by 25,000, th e n u m b e r o f unemployed dec line d by 2,000, to 47,000. Io w a ’s unemployment rate d ec line d 0.2 p e rc e n ta g e p o in t, to 3.3 p erc e n t o f th e la b o r force, th e fifth low est ra te in th e N a tio n . T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:1V w as 5.5 p e rce nt, do w n 0.7 p erc e n ta g e p o in t from th e 1977:IV level. Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : I o w a Ch a r t T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Iowa Un i t e d St a t e s 19 77:1V 19 78 :1V 6 .— Un e m p l o y m e n t Ra t e s , 19 77:1V — 19 78 :1V 19 77:111 19 7 7:I V St a t e U .S . 19 78 :111 St a t e U .S . 19 77:111— 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V 1 Pe r c e n t c h a n g e 2 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 1,0 6 2 1,0 8 7 1,0 8 6 1,10 9 4 .3 2 .2 4 .2 2 .0 M i n i n g ...................................................................................................................................................................................... 78 7 899 3 2 3 2 8 .2 .0 14 .2 - 4 .2 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 61 56 62 56 10 .4 2 .1 11.3 .4 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 243 244 24 4 249 3 .1 .3 3 .7 2 .3 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 55 54 55 55 3 .8 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 2 71 2 77 2 77 28 2 5 .3 4 .4 .7 2 .4 4 .5 1 .7 - 2 .0 - .5 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 53 52 54 53 4 .8 2 .1 Se r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 18 6 19 1 19 3 19 8 4 .6 4 .0 2 .3 4 .4 3 .9 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 19 2 2 11 19 8 2 14 2 .1 3 .4 1.4 1.1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1,4 0 9 1,3 8 8 1,4 3 2 1,4 13 3 .2 1.6 3 .1 1.8 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,3 5 6 1,3 3 9 1,3 8 6 1,3 6 6 4 .1 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 53 49 46 47 - 9 .8 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 3 .8 3 .5 3 .2 3 .3 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta ar e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e ak in t h e s e r i e s , a n d u s e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . — 2 .2 - 1 2 .8 — — 3 .9 2 .0 - 8 .8 - 5 .4 — ' A p r il 1979 1 31 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e Index, 1 9 7 2 = 1 0 0 In d e * Ch a r t P e rc e n t Ch a r t 9 — U n e m p l o y m e n t Ra t e 8 .— Ci v i l i a n Em p l o y m e n t 1972=100 Ch a r t M illio n s 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : I o w a 132 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S C o m m er cia l B a n k in g D u e to c ha n g e s in th e d a ta re p o rtin g p ra c tic e s o f th e F e de ra l D e p o s it In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu d e th e c o m m erc ia l b a n k in g d iscu ssio n a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . 12 T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 I ow a Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 : I V 19 77:111 19 77:1V 19 78 :111 19 78 : IV To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 9 ,0 19 9 ,3 0 8 19 78 :1V 19 78 :111 Pe r c e n Mil lio ns of dol lar s, n ot si aso nally a d ju s te d 1 10 ,114 n .a . 16 .3 St a t e 19 7 7:1V — 12 .1 Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,8 2 6 1,8 6 8 2 ,0 5 9 n .a . 14 .2 12 .8 Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 1,6 9 7 1,75 8 1,9 5 7 n .a . 2 0 .2 15 .3 Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 2 ,5 0 5 2 ,6 2 4 2 ,9 73 n .a . 19 .9 18 .7 Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,4 5 9 1,5 4 8 1,79 9 n .a . 2 1.3 2 3 .3 Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 3 23 330 3 48 n .a . 10 .7 7.8 c hange1 — — — — — — — — — — — — — — — — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 72 3 74 5 8 25 n .a . 19 .0 14 .2 Fa r m s , e x c l u d i n g r e al e s t a t e ................................................................................................................................. 2 5 ,70 4 n .a . 2 ,7 1 7 2 ,779 2 ,8 3 6 n .a . 6 .8 4 .4 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 2 75 2 79 29 0 n .a . 8 .0 5 .5 — 1 1.2 — — — — To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 13 ,4 8 3 14 ,2 2 5 14 ,9 9 8 n .a . 11.5 De m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 3 ,9 2 7 4 ,4 8 4 4 ,4 2 5 n .a . 10 .2 12 .7 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 9 ,5 5 7 9 ,74 1 10 ,5 73 n .a . 12 .3 10 .6 — 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Bas e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 133 C o n str u c tio n F ro m 1977:IV to 1978:IV, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts in cre a se d o nly 1.3 p e rc e n t ($6.6 m illion ), to $526.4 m illion (ta b le 6). Io w a ’s in cre ase w as exceeded by inc re a se s in 41 S tates. T h e n a tio n a l in cre ase w as 16.8 p erc e n t. N a tio n a l c o n s tru c tio n c osts inc re a se d a b o u t 13 p e r c e n t d u rin g th e sa m e tim e s p a n , a n d if th is in c re a s e is re p re se n ta tiv e o f th e in cre ase th ro u g h o u t th e S ta te , th e to ta l v a lu a tio n o f c o n tra c ts in Iow a su stain e d a re al d ec line o f a b o u t 12 p e rc e n t versus a re al in cre ase in th e N a tio n o f a b o u t 4 p e rce nt. N o n b u ild in g c o n tra c ts dec line d 26.5 p e rc e n t in v a lu a tio n , c o m p a re d w ith a 2 2.2 -p erc en t n a tio n a l in crease. T h e v a lu a tio n o f stre e t a n d h ighw a y c o n tra c ts , a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d 17.5 p erc e n t in th e S ta te a n d 16.3 p erc e n t n a tio n a lly . Ch a r t 1 4 .— Co n s t r u c t i o n N o n re s id e n tia l c o n tra c ts in cre a se d o n ly 3.2 p e rc e n t in v a lu a tio n versus 15.8 p erc en t n atio n a lly . T h e v a lu a tio n o f re sid e n tia l h o u se k e e p in g a d d itio n s a n d a lte r a tio n s w as a lm o s t u n c h a n g e d from y e a r to y e a r, c o m p a re d w ith a 14.6-percent n a tio n a l increase. F o rty -tw o S ta te s re g iste re d increases th a t w e re la rg e r th a n Io w a ’s. R esid e ntia l h o u se k e e p in g c o n tra c ts , in c o n tra s t, in c re ased 16.8 p erc en t in v a lu a tio n v ersus 15.6 p e rc e n t n a tio n a lly . T h e n u m b e r o f dw elling u n its s ta rte d inc re a se d 2.7 p e rc e n t (141 u n its) in th e S ta te , to 5,407 units. N a tio n a lly , th e n u m b e r o f dw elling u n its sta rte d w a s a lm o st u nc h a n g e d a t a high level. Co n t r a c t s — To t a l Va l u a t i o n Ch a r t Ind e x, 1 9 7 6 = 1 0 0 Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : I o w a M illio n $ Ch a r t P e rce n t 15 .— Co n s t r u c t i o n 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Iowa Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:1V St a t e U .S . 19 78 :111 19 78 :1V Pe r c e n t c h a n g e 2 N o t s e a s o n al l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. St a t e 19 7 7 :1 V - 19 78 :1V 19 78 :111 U .S . 19 77:111— 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 5 76 ,2 8 1 5 19 ,8 8 1 713 ,2 6 3 5 2 6 ,4 4 3 14 .5 2 3 .8 16 .8 1.3 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 13 7,9 19 12 8 ,5 0 8 15 6 ,5 0 8 12 9 ,0 0 4 16 .8 13 .5 14 .6 4 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,3 0 7 1,0 5 7 1,16 8 9 75 4 .4 - 1 0 .6 - 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 4 3 8 ,3 6 2 3 9 1,3 73 5 5 6 ,75 5 3 9 7,4 3 9 14 .0 2 7.0 17 .4 - 7 .8 1.5 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 12 ,4 4 4 10 ,8 3 3 14 ,7 7 6 11,3 2 9 10 .8 18 .7 10 .2 4 .6 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 40 4 40 5 39 2 386 - 5 .1 - 3 .0 - 4 .3 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 6 ,5 9 1 5 ,2 6 6 7,8 8 3 5 ,4 0 7 1.0 19 .6 - .6 - 4 .7 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 2 3 2 ,9 9 9 19 0 ,0 2 9 3 2 2 ,9 0 1 2 2 1,9 76 15 .3 3 8 .6 15 .6 16 .8 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 8 ,6 15 7,0 8 0 11,6 7 4 7,9 8 9 10 .3 3 5 .5 10 .7 12 .8 2 .7 Re s i d e n t i a l n o n h o u s e k e e p i n g : - .4 - 2 8 .6 Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 5 05 10 7 5 5 - 1 0 .0 - 5 0 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 4 ,78 2 5 ,6 6 6 6 ,5 8 2 1,6 3 0 9 .4 3 7.6 4 4 .8 - 7 1 .2 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 15 8 15 2 46 19 - .7 - 7 0 .7 2 4 .7 - 8 7 .6 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 39 4 3 72 3 26 332 - 2 .5 — 17.3 - 1 2 .0 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 118 ,9 0 4 10 1,0 6 3 10 4 ,0 9 6 10 4 ,2 74 2 7.6 - 1 2 .5 15 .8 - 1 0 .8 Fl o o r a r e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 3 ,6 71 3 ,6 0 1 3 ,0 5 5 3 ,3 2 1 12 .2 - 1 6 .8 8 .9 2 2 .4 - 1 0 .8 - 9 .1 - 7 .7 5 0 .8 2 2 .2 - 2 6 .5 3 .2 - 7 .8 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 49 9 2 73 445 25 2 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 8 1,6 7 7 9 4 ,6 15 12 3 ,176 6 9 ,5 5 9 - .1 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 23 3 77 14 9 60 9 .3 - 3 6 .1 - 1 7 .8 - 2 2 .1 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 4 5 ,78 8 3 1,72 5 4 4 ,73 6 2 6 ,16 1 3 .0 - 2 .3 - 1 6 .3 - 1 7 .5 St a t e U .S . St a t e 1. Co n t r a c t s s t a r t e d o r e x p e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 2 , Pe r c e n t c h a n g e s f o r f l o o r a r ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l I n f o r m a t i o n Sy s t e m s Co m p a n y . f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c au s e o f r o u n d i n g . R e ta il S a le s R e ta il sales d a ta fo r Io w a a re n o t a va ilab le . T A B LE 7 .— Re t ai l Sa l e s , Un i t e d St a t e s a n d I o w a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s U .S . Iow a 19 77:111— 19 77:I V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :I V 1 9 7 7 :1 V 19 78 :1V 19 78 :111 M il lio ns of do ll ar s , n ot season al ly adjus ted Pe r c e i t c h an g e Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 — 11.2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a. n .a . n .a. n .a . 11.8 — 15 .3 — No n d u r a b l e g o o d s ..................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 n .a .: Da t a n o t a va i l a b l e . 9 .2 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , B u r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d I o w a " ^ Qu a r t e r , 19 78 Iow a Un i t e d St a t e s St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 1 9 7 7 :1 V - To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1 0 9 ,4 1 1 1 ,6 8 4 n .a . n .a . 1 ,3 2 9 11 19 78 :1V 19 78 :111 Pe r c e n t c h an ge No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ St a t e U .S . 19 77:111— 1 ,3 1 2 12 1 ,2 3 4 2 7 n .a . n .a . 8 .2 - 9 .5 Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 1,0 8 7 4 ,3 4 1 2 5 ,3 10 n .a . - 4 4 .2 Ave r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 99 362 937 n .a . - 3 8 .4 - 7 .1 — 1 4 5 .5 — — — — — — * * * 8 4 6 .5 — Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 24 8 n .a . 0 1 5 n .a . - 1 0 .1 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 3 2 4 n .a . 1.0 — 3 3 .3 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 4 0 4 n .a . - 2 7 .1 .0 Re t a i l t r a d e ........................................................................................................................................................................... 688 n .a . 3 8 13 n .a . - 4 .2 3 3 3 .3 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 1 1 1 n .a . - 2 4 .0 .0 — — — — — — — — — — n .a .: Da t a n o t a v a i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 135 H ig h lig h ts 1977:IV to 1978:IV Personal income — U p 12.3% vs. 12.6% in U .S ., to $20.0 billion — P ay ro lls u p 24.2% in d u ra b le s m a n u fa c tu rin g vs. 15.2% in U .S. Consumer prices — U p 8.4% in K a n sa s C ity vs. 8.9% in U .S. Employment — U p 5.1% vs. 3.9% in U .S ., to 1.1 m illion Unemployment — D ow n 13,000, to 30,000 — R a te dow n to 2.6% o f la b o r fo rce vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 3.2% vs. 16.8% in U .S ., to $497.7 m illion — V a lu a tio n o f n o n b u ild in g c o n tra c ts dow n 20.4% vs. 22.2% in crease in U .S. — N u m b e r o f dw e lling -u n it s ta rts u p 4.1% vs. n e a r sta b ility in U .S., to 4,718 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ka n s as Un i t e d St a t e s St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e U.S . 1 9 7 7 :1 V - 19 77:111 — 19 78 :1V 19 78 :111 Pe r c e n t c h an g e Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 16 ,6 4 1 17,8 4 8 18 ,8 5 7 2 0 ,0 4 0 12 .4 13 .3 12 .6 12 .3 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 9 ,2 6 4 9 ,5 5 8 10 ,5 0 4 10 ,8 15 12 .1 13 .4 12 .6 13 .2 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 1,0 9 2 1,0 8 4 1,12 7 1,13 9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 45 43 34 30 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 4 .0 3 .8 2 .9 2 .6 4 .1 - 9 .8 — 3 .3 3 .9 5 .1 - 2 4 .6 - 8 .8 - 2 9 .4 — — — — — To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 6 ,3 5 8 6 ,6 0 6 7,2 8 0 n .a . 16 .3 14 .5 — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 11 n .a . 10 ,0 3 8 10 ,8 0 4 10 ,9 4 7 n .a . 11.5 9 .1 — To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 6 6 7,9 2 4 4 8 2 ,0 3 6 5 6 6 ,6 2 8 4 9 7,6 8 2 14 .5 - 1 5 .2 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ......................................................................................................................... 4 4 5 ,772 4 4 3 ,0 75 4 ,9 0 1 4 ,5 3 4 5 ,8 5 6 4 ,718 1.0 19 .5 To t a l r e t a i l sal e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 1,0 5 9 1,0 3 4 8 74 n .a . 8 .2 B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 20 22 17 n .a . 18 0 .6 18 2 .7 19 4 .3 19 8 .1 - 9 .5 16 .8 3 .2 - .6 — 11.2 4 .1 — - 1 7 .5 — — - 1 5 .0 — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 10 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... Ka n s a s C i t y ............................................................................................................................................................... n .a .: Da t a n o t a va i l a b l e . So u r c e : See t a b l e s 2 t h r o u g h 8 . 18 5 .3 — 2 0 1.8 — 7.9 — 8 .9 7.6 — 8 .4 136 S T A T E Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju ste d a t a n n u a l ra te s) inc re a se d 12.3 p e rc e n t from 1977:IV to 1978:IV versus 12.6 p e rc e n t n a tio n a lly (ta b le 2). In 1978:1 V, th e S ta te ’s p e rso n a l incom e to ta le d $20:0 b illio n, u p $2.2 billion since 1977:IV. C o n c u rre n tly , fa rm p e rso n a l in c om e in c re ased 8.9 p e rc e n t in th e S ta te v ersus 26.3 p e rc e n t n a tio n a lly , a n d n o n fa rm p e rs o n a l in co m e in c re ased 12.5 p erc e n t, o r slightly m o re th a n n a tio n a lly . Since th e m o st re c e n t n a tio n a l business cycle p e a k in 1973:1 V, K a n sa s ’ n o n fa rm e c o n om y h a s g ro w n m o re ra p id ly th a n th e N a tio n ’s; th e in cre a se in th e S ta te ’s n o n fa rm in co m e w as 13 p e rc e n t m o re ra p id th a n n a tio n a lly , ra n k in g K a n sa s 21st a m o n g all S tates. F ro m 1977:IV to 1978:1 V, th e Consumer Price Index for th e K a n sa s C ity m e tro p o lita n a re a inc re a se d 8.4 p e rc e n t versus an 8 .9 -p erc en t n a tio n a l city av erag e in crease (ta b le 3). I f K a n sa s C ity ’s index is u se d as a n in d ic a to r for p rice m o v em e n ts in th e S ta te, real to ta l p e rso n a l in co m e in K a n sa s in c re a se d 3.9 p e rc e n t versus 3.7 p e rc e n t n atio n ally . Ch a r t 1 .— P e r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 :I V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t W age and salary disbursements (p a yrolls) inc re a se d 13.2 p erc e n t in the S ta te v ersu s 12.6 p e rc e n t n a tio n a lly . In 1978:1V, the y to ta le d $10.8 b il lion, up $1.3 billion since 1977:IV. D u ra b le g o o d s m a n u fa c tu rin g p a y rolls inc re a se d 24.2 p erc e n t, th e fifth large st in crease in th e N a tio n , versus 15.2 p e rc e n t n a tio n a lly . T h e in crease in d u ra b le s p ay ro lls a c c o u n te d fo r o v e r o n e - fo u rth o f th e y e a r-to -y e a r in cre a se in all p ay ro lls in th e S ta te. In c o n tra s t, n o n d u ra b le g o o d s m a n u fa c tu rin g p ay ro lls in c re ased 10.2 p e rc e n t in th e S ta te , only fra c tio n a lly m o re th a n n a tio n a l ly. P ayrolls in c o n s tru c tio n in c re ased 20.8 p e rc e n t in K a n sa s, c o m p a re d w ith a 20.1-p e rc e n t n a tio n a l gain. In th e p riv a te service-type in d u stry g ro u p , p a yro lls inc re a se d 12.8 p erc e n t, 0.3 p e rc e n ta g e p o in t less ra pid ly th a n in th e N a tio n . In tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities, p ay ro lls inc re a se d 10.7 p e rc e n t versus 11.3 p e rc e n t n a tio n a lly , a n d in fin a nc e -in sura n c e-re a l e sta te , p ay ro lls inc re a se d 11.7 p e rc e n t versus 13.2 p e rc e n t n atio n ally . Services p ay ro lls inc re a se d 12.7 p erc e n t b o th sta te w id e a n d n atio n ally . In c o n tra s t, tra d e p ay ro lls in c re a se d slightly m o re in th e S tate, 14.4 p erc e n t, th a n n a tio n a lly , 14.1 p ercent. S ta te a n d local g o v e rn m e n t p ay ro lls in K a n sa s reg istered the fo u rth sm allest in crease in th e N a tio n , 2.9 p erc e n t, c o m p a re d w ith a n a tio n a l in crease o f 6.8 p erc e n t. F e de ra l G o v e rn m e n t p a y ro lls inc re a se d 6.5 p erc e n t in K a n sa s, 0.6 p e rc e n ta g e p o in t less th a n n atio n a lly . F ro m 1977:IV to 1978:1 V, S ta te u n e m p lo y m e n t in su ra n c e bene fits declined 36.8 p e rc e n t in K a n sa s a n d 30.3 p erc e n t n atio n a lly . Ch a r t 2 .— C o n s u m e r P r i c e I n d e x , P e r c e n t C h a n g e , 1 9 7 7 : 1 V - 1 9 7 8 :1V Pe r c e n t To t a l Pe r s o n a l No n f a r m M a n u fa c tu r i n g Pr i v a t e In c o m e Pe r s o n a l I n c o m e W a g e s a n d Sa l a r i e s S e r v i c e -t y p e W a g e s a n d Sa l a r i e s □ Un i t e d St a t e s ^ Ka n s a s C i t y Ch a r t 3 .— To t a l Pe r s o n a l In c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : Ka n s a s [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x . 19 72 = 10 0 B j | |i 0 n $ T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Ka n s a s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 7 7:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M il lio ns of do ll ar s , seasonally ad ju s te d a t an nu al rate s1 To t a l p e r s o n a l i n c o m e ............................................................................................................................ To t a l p e r s o n a l i n c o m e ................................................................................................................... W ag e a n d s a l a r y d i s b u r s e m e n t s ........................................................................................................................... 1.78 2 .5 19 16 .6 4 1 17.8 4 8 18 .8 5 7 2 0 .0 4 0 12 .4 13 .3 12 .6 3 9 ,4 5 1 48 1 1 ,2 17 681 1,3 2 5 4 7.9 4 1.6 2 6 .3 8 .9 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 16 ,16 0 16 ,6 3 1 18 ,17 6 18 ,715 11.9 12 .5 12 .3 12 .5 1.5 8 3 .5 0 8 1.78 2 .5 19 16 .6 4 1 17.8 4 8 18 .8 5 7 2 0 .0 4 0 12 .4 13 .3 12 .6 12 .3 1.0 13 .2 16 1.14 0 .6 9 6 9 .2 6 4 9 .5 5 8 10 .5 0 4 10 .8 15 12 .1 13 .4 12 .6 13 .2 12 .3 9 6 ,0 16 1 1 1 ,7 1 9 884 9 28 1,0 6 5 1,0 9 8 17.0 2 0 .5 16 .4 18 .3 10 5 ,9 5 3 12 5 ,9 9 5 1,5 5 9 2 ,3 17 1,9 2 1 2 ,6 2 2 2 1.5 2 3 .2 18 .9 13 .2 2 3 ,6 3 6 3 1,0 4 4 3 43 1,0 74 5 29 1,16 6 6 6 .6 5 4 .4 3 1.3 8 .6 8 2 ,3 17 9 4 ,9 5 1 1,2 16 1,2 4 3 1,3 9 1 1,4 5 6 12 .8 14 .4 15 .3 17.2 2 14 ,9 9 2 2 4 2 ,4 4 2 2 ,78 9 2 ,8 6 2 3 ,112 3 ,2 0 0 12 .3 11.6 12 .8 11.8 2 15 ,9 4 4 2 3 3 ,75 0 2 ,0 8 2 2 ,12 5 2 ,2 6 2 2 ,2 9 7 8 .8 8 .6 8 .2 8 .1 11,12 8 7,75 3 78 80 51 51 - 2 4 .0 - 3 5 .3 - 3 0 .3 - 3 6 .8 6 2 ,2 12 71,6 10 693 711 8 14 8 29 14 .8 17.5 15 .1 16 .6 -4 0 1 -4 73 75 6 76 9 808 837 1.0 13 .2 16 Pr o p r i e t o r s ' i n c o m e .................................................................................................................................... Fa r m .......................................................................... .............................................................................. N o n f a r m ................................................................................................................................ Di v i d e n d s , i n t e r e s t , a n d r e n t .......................................................................................................................... Tr a n s f e r p a y m e n t s .......................................................................................................................................... St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. Le s s : p e r s o n a l c o n t r i b u t i o n s ................................................................................................................................... Pl u s : r e si d e n c e a d j u s t m e n t .................................................................................................................. 1.14 0 .6 9 6 9 .2 6 4 9 .5 5 8 10 .5 0 4 10 .8 15 12 .1 13 .4 12 .6 13 .2 7 ,17 6 7,9 3 9 13 5 13 9 14 7 15 4 8 .5 9 .3 10 .6 11.3 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 Fa r m ........................................................................................................................................................................... N o n f a r m ...................................................................................................................................... hange1 3 1,2 2 4 Ot h e r l a b or i n c o m e ........................................................................................................................................................ W ag e a n d s a l a r y d i s b u r s e m e n t s ........................................................................................................................... 19 78 :1V Pe r c e n t 1.5 8 3 .5 0 8 Fa r m p e r s o n a l i n c o m e ....................................................................................................... No n f a r m p e r s o n a l i n c o m e ............................................................................................................................. St a t e 19 7 7:1V — M i n i n g ........................................................................................................................................................................... C o n s t r u c t i o n ............................................................................................................................................................ M a n u f a c t u r i n g ........................................................................................................................................................ Du r a b l e g o o d s .................................................................................................................................................. No n d u r a b l e g o o d s ........................................................................................................................................ Pr i v a t e s e r v i c e - t y p e ........................................................................................................................................... Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ....................................................... W h o l e s a l e a n d r e t a i l t r a d e ..................................................................................................................... Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ................................................................................................ Se r v i c e s .................................................................................................................................................................. Go v e r n m e n t ............................................................................................................................................................. Fe d e r a l ................................................................................................................................................................... St a t e a n d l o c a l ................................................................................................................................................ O t h e r ...................................................................................................................................................... 9 ,13 0 9 ,4 19 10 ,3 5 7 10 ,6 6 1 12 .1 13 .4 12 .6 13 .2 14 ,0 4 8 18 ,8 13 16 0 170 2 10 2 15 2 6 .5 3 1.4 3 3 .9 2 6 .5 5 5 ,6 4 8 6 6 ,8 5 8 5 72 598 699 72 2 19 .1 2 2 .1 2 0 .1 2 0 .8 2 76 ,112 3 12 ,9 70 2 ,15 0 2 ,2 3 8 2 ,5 6 5 2 ,6 6 4 12 .1 19 .3 13 .3 19 .0 176 ,2 16 2 0 3 ,0 5 3 1,3 4 8 1,4 16 1,6 75 1,75 8 13 .7 2 4 .3 15 .2 2 4 .2 9 9 ,8 9 6 10 9 ,9 17 802 823 889 906 9 .4 10 .8 10 .0 10 .2 4 5 5 ,76 4 5 15 ,3 4 8 4 ,2 5 4 4 ,3 5 7 4 ,8 0 5 4 ,9 16 12 .8 12 .9 13 .1 12 .8 76 ,5 8 4 8 5 ,2 6 4 8 74 904 9 71 1,0 0 1 10 .4 11.0 11.3 10 .7 170 ,8 8 8 19 5 ,0 3 5 1 ,7 1 4 1,75 0 1,9 6 0 2 ,0 0 1 13 .6 14 .4 14 .1 14 .4 5 4 ,4 5 2 6 1,6 5 3 45 4 4 72 5 18 5 28 14 .1 14 .2 13 .2 1 1 .7 15 3 ,8 4 0 173 ,3 9 6 1,2 13 1,2 3 1 1,3 5 6 1,3 8 6 12 .6 11.8 1 2 .7 12 .7 2 0 1,2 5 2 2 15 ,0 8 3 1,9 6 9 2 ,0 3 0 2 ,0 4 9 2 ,115 7.4 4 .1 6 .9 4 .2 6 8 ,176 73 ,0 0 3 6 77 711 716 75 7 7.3 5 .8 7 .1 6 .5 13 3 ,0 76 14 2 ,0 8 0 1,2 9 2 1,3 2 0 1,3 3 4 1,3 5 9 7.5 3 .2 6 .8 2 .9 3 ,2 16 3 ,6 8 5 25 26 29 28 18 .7 15 .7 14 .6 9 .6 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Reg i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .— Co n s u m e r Pr i c e I n d e s , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Ka n s a s U .S . St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V U .S . c i t y a ve r a g e 1 2 ........................................................................................................................................ 18 5 .3 1 . Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Av e r a g e t o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b a se d o n t h e 19 70 Ce n s u s o f Po p u l a t i o n . So u r c e : U .S . De p a r t m e n t o f La b o r , B u r e a u o f La b o r St a t i s t i c s . 19 78 :1V Pe r c e n t c h a n g e 2 0 1.8 7.9 18 0 .6 18 2 .7 St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d Ka n s a s C i t y ........................................................................................................................................................................... U .S . 19 4 .3 19 8 .1 8 .9 7.6 8 .4 N O T E.— Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 138 S TA TE Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS L abor F orce F ro m 1977:IV to 1978:IV, K a n s a s ’ civilian labor force in c re ased 3.8 p e rc e n t v ersu s 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in cre a se d 5.1 p e rc e n t versus 3.9 p e rc e n t n a tio n a lly , to m o re th a n 1.1 m il lion. re g iste re d in S o u th D a k o ta . T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:1V w a s 5.5 p erc e n t, dow n 0.7 p e rc e n ta g e p o in t from th e 1977:IV level. A c c o rd in g to p re lim in a ry d a ta fo r D e c em b e r 1978, w h e n th e S ta te ’s u n e m p lo y m e n t ra te w as 2.7 p e rc e n t, th e u n e m p lo y m e n t ra te w as 3.4 p e rc e n t in T o p e k a a n d 2.6 pe rc e n t in W ic h ita . F ro m D e c e m b e r 1977 to D e c e m b e r 1978, th e S ta te ’s u n e m p lo y m e n t ra te d eclined 1.0 p e rc e n ta g e p o in t; th e ra te s in T o p e k a a n d W ic h ita dec line d 0.6 p e rc e n ta g e p o in t a n d 1.5 p e rc e n ta g e p o in ts, respectively. W ith e m p lo y m e n t inc re a sing by a b o u t 55,000 a n d th e la b o r fo rce in cre a sin g by a b o u t 43,000, th e n u m b e r o f unemployed dec line d betw een 12,000 a n d 13,000, to 30,000. K a n sa s ’ unemployment rate dec lin ed 1.2 p e rc e n ta g e p o in ts, to 2.6 p e rc e n t o f th e la b o r force; th is w as th e low est u n e m p lo y m e n t ra te in th e N a tio n , a lo n g w ith th e 2 .6-pe rc e nt ra te Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ka n s a s Ch a r t 6 .— Un e m p l o y m e n t Ra t e s , 1 9 7 7 :1 V - 1 9 7 8 :1 V Pe r c e n t M il li o n s 1 0 .0 - - La b o r Fo r c e Em p l o y m e n t Un e m p l o y m e n t U n i t e d St a t e s Ka n s a s T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ka n s a s Un i t e d St a t e s St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e U.S . 19 7 7:1V — 1 9 7 7 :1 1 1 - 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n al l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ...................................................................................... 8 4 ,2 10 8 7,70 8 8 77 892 9 16 9 30 4 .3 4 .5 4 .2 M i n i n g ....................................................................................................................................................................................... 78 7 8 99 12 12 13 13 8 .2 6 .6 14 .2 4 .9 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 49 47 51 49 10 .4 3 .7 11.3 3 .4 4 .2 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 175 175 18 9 19 3 3 .1 7.6 3 .7 9 .9 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 60 61 64 64 3 .8 6 .0 4 .4 5 .6 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 2 13 22 0 222 225 5 .3 4 .0 4 .5 1.9 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ..................................................................: .............................................. 4 ,8 5 2 4 ,75 6 45 44 46 45 4 .8 2 .7 - 2 .0 2 .5 S e r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 15 2 15 0 15 9 15 8 4 .6 4 .6 4 .4 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 170 18 1 173 18 3 2 .1 2 .1 1.4 .9 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1 ,1 3 7 1 ,1 2 7 1 ,16 1 1 ,1 7 0 3 .2 2 .2 3 .1 3 .8 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,0 9 2 1,0 8 4 1 ,1 2 7 1,13 9 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 45 43 34 30 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 4 .0 3 .8 2 .9 2 .6 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d data. 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a ar e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 4 .1 - 9 .8 — 3 .3 3 .9 - 2 4 .6 - 8 .8 — -- ------- 5 .1 5 .1 - 2 9 .4 — A p r il 1979 139 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e In d e x. 19 72 = 10 0 8 .— Ci v i l i a n Em p l o y m e n t I n d e x, 19 72 = 10 0 Ch a r t Pe r c e n t Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Ka n s a s Th o u s a n d s 140 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS C o m m er cia l B a n k in g D u e to c ha nges in th e d a ta re p o rtin g p ra c tic e s o f th e F e de ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o late fo r this re p o rt to in clu de th e com m e rcial b a n k in g discu ssion a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s . Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r . 19 78 Ka n s a s Un i t e d St a t e s U .S . St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 78 : IV 19 78 :111 Per c e n M i l l i o n s o f d o l l a r s , n o t se a s o n a l l y a d j u s e d 1 St a t e 19 7 7:1V — 1 9 7 7 :1 1 1 - c hang e2 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 6 ,3 5 8 6 ,6 0 6 7,2 8 0 n .a . 16 .3 14 .5 — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,5 4 6 1,6 0 2 1,7 8 1 n .a . 14 .2 15 .2 — — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 1,6 5 1 1,6 9 7 1,8 8 4 n .a . 2 0 .2 14 .1 — — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 1,2 8 7 1,3 6 1 1,6 15 n .a . 19 .9 2 5 .4 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 5 89 6 24 74 3 n .a . 2 1.3 2 6 .2 Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 19 6 20 3 2 15 n .a . 10 .7 9 .8 Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 503 534 657 n .a . 19 .0 3 0 .6 — — — — — — — — — — Fa r m s , e xc l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 1,6 16 1,6 6 1 1,70 5 n .a . 6 .8 5 .6 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 25 9 28 5 29 5 n .a . 8 .0 13 .8 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 10 ,0 3 8 10 ,8 0 4 10 ,9 4 7 n .a . 11.5 9 .1 — — — — D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . .3 ,4 8 7 4 ,118 3 ,79 6 n .a . 10 .2 8 .9 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 6 ,5 5 1 6 ,6 8 6 7 ,15 1 n .a . 12 .3 9 .2 — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 1 41 C o n str u c tio n F ro m 1977:1 V to 1978:IV, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts inc re a se d only 3.2 p e rc e n t ($15.6 m illion), to $497.7 m illion (ta b le 6). T h e n a tio n a l in cre ase w as 16.8 p e rce nt. N a tio n a l c o n s tru c tio n co sts in c re a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e sp a n , a n d if this in cre ase is re p re s e n ta tiv e o f th e in cre ase th ro u g h o u t th e S ta te, th e to ta l v a lu a tio n o f c o n tra c ts in K a n sa s su sta in e d a re al d ec line o f a b o u t 10 p erc e n t, c o m p a re d w ith a re al in cre ase in th e N a tio n o f a b o u t 4 p e rce nt. N o n b u ild in g c o n tra c ts dec line d 20.4 pe rc e n t in v a lu a tio n versus a 22.2p erc e n t n a tio n a l incre ase. T h e v a lu a tio n o f stree t a n d highw ay c o n tra c ts, a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d 30.1 p e rce nt, c o m p a re d w ith a U .S. d ec line o f 16.3 p e rce nt. Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n I n d e x , 19 7 6 = 1 0 0 C o n tra c ts fo r a d d itio n s a n d a lte r a tio n s to re sid e n tia l h o use k e e p in g u nits inc re a se d only 1.2 p e rc e n t in v a lu a tio n v ersu s 14.6 p e rc e n t n a tio n a lly . T h e v a lu a tio n o f re sid e ntia l h o u se k e e p in g c o n tra c ts , in c o n tra s t, in c re ased 17.2 p erc e n t, 1.6 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly . T h e n u m b e r o f dw elling u n its s ta rte d in c re a se d 4.1 p e rc e n t (184 units), to 4,718 units. N a tio n a lly , th e n u m b e r o f d w elling u n its sta rte d w as a lm o s t u n c h a n g e d a t a high level. Ch a r t 15 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ka n s a s Bill io n $ Ch a r t Pe r c e n t N o n re sid e n tia l c o n tra c ts inc re a se d 4.7 p e rc e n t in v a lu a tio n , less th a n o n e -th ird o f th e n a tio n a l increase. 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s S t a r t e d , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 ' Un i t e d St a t e s US. Ka n s a s St a t e U.S . 19 77:111 — 19 7 7:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 7 :1V — 1 9 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l v a l u a t i o n o f c o n t r a c t s .............................................................................................................. St a t e 19 Per c e n t c h an g e’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 6 6 7,9 2 4 4 8 2 ,0 3 6 5 6 6 ,6 2 8 4 9 7,6 8 2 14 .5 - 1 5 .2 16 .8 3 .2 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 113 ,2 4 5 10 2 ,0 73 12 5 ,3 2 1 10 3 ,2 9 2 16 .8 10 .7 14 .6 1.2 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,0 8 4 1,0 3 1 934 893 4 .4 - 1 3 .8 - 9 .3 - 1 3 .4 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 5 5 4 ,6 79 3 79 ,9 6 3 4 4 1,3 0 7 3 9 4 ,3 9 0 14 .0 - 2 0 .4 17.4 3 .8 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 11,2 2 6 9 ,8 5 2 12 ,3 8 4 10 ,8 0 1 10 .8 10 .3 10 .2 9 .6 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 39 2 39 6 365 366 - 5 .1 - 6 .9 - 4 .3 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 4 ,9 0 1 4 ,5 3 4 5 ,8 5 6 4 ,718 1.0 19 .5 - .6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 19 8 ,8 2 1 178 ,75 5 2 6 1,6 4 7 2 0 9 ,5 8 3 15 .3 3 1.6 15 .6 1 7 .2 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 7 ,4 1 7 6 ,74 1 9 ,5 13 7 ,7 2 1 10 .3 2 8 .3 10 .7 14 .5 - 7 .6 4 .1 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 4 4 4 8 - 1 0 .0 .0 - .4 10 0 .0 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 ' 4 9 0 ,2 79 1,8 13 1,15 1 3 ,8 8 0 2 ,5 6 3 9 .4 114 .0 4 4 .8 12 2 .7 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 76 28 10 1 55 - .7 3 3 .5 2 4 .7 9 3 .0 — 2 3 .4 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 33 8 320 25 9 223 - 2 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 10 2 ,0 4 3 9 1,7 7 6 8 8 ,9 4 0 9 6 ,0 6 4 2 7.6 - 1 2 .8 15 .8 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 3 ,73 3 3 ,0 8 3 2 ,770 3 ,0 2 5 12 .2 - 2 5 .8 8 .9 2 2 .4 — 12 .6 - 9 .1 - 4 .8 - .1 - 6 5 .5 2 2 .2 - 2 0 .4 - 1 2 .0 - 3 0 .3 4 .7 - 1 .9 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 350 3 11 306 29 6 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 5 2 ,0 0 2 10 8 ,2 8 1 8 6 ,8 4 0 8 6 ,18 0 St r e e t s an d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 116 89 10 1 76 9 .3 - 1 2 .9 - 1 7 .8 - 1 4 .6 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 5 0 ,2 9 7 5 1,3 0 4 3 5 ,0 6 5 3 5 ,8 72 3 .0 - 3 0 .3 - 1 6 .3 - 3 0 .1 St a t e U.S . St a t e 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 2 . Pe r c e n t c h an g es f o r f l o o r ar ea b ase d o n u n r o u n d e d d a t a N O T E.— De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c au s e o f r o u n d i n g . In for m ati on Sy s t e m s Co m p a n y . R e ta il S a le s R e ta il sales d a ta fo r K a n sa s a re n o t availa ble. T A B LE 7 .— Re t ai l Sa l e s , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ka n s as Un i t e d St a t e s U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :I V 19 77 I V - 19 78 :111 M il li o n s o f do ll ar s , n ot seasonally adjus ted 19 ) 8 : IV Pe r c e n t c h an ge Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 — 11.2 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 11.8 — 15 .3 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — 9 .2 — n .a .: Da t a n o t .a v a i l a b l e . — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ka n s a s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ka n s a s Un i t e d St a t e s U .S . St a t e U .S . 19 77:111— 19 77:I V 19 78 : IV 19 77:111 19 77:I V 19 78 :111 19 78 :1V Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 1,0 5 9 n .a . 20 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V - Pe r c e r t c h an g e 1,0 3 4 8 74 22 17 n .a . n .a . 8 .2 - 9 .5 - 1 7 .5 — - 1 5 .0 — — — — — — Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 3 ,4 0 5 1,9 4 2 2 ,4 6 7 n .a . - 4 4 .2 - 2 7 .5 Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 170 88 14 5 n .a . - 3 8 .4 - 1 4 .7 — Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 1 0 2 n .a . - 1 0 .1 10 0 .0 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 5 5 5 n .a . 1.0 .0 W h o l e s a l e t r a d e .................................................................................................................................................................. 19 1 n .a . 0 5 3 n .a . - 2 7 .1 Re t a i l t r a d e ........................................................................................................................................................................... 688 n .a . 10 10 6 n .a . - 4 .2 - 4 0 .0 Co m m e r c i a l s e r vi c e s ...................................................................................................................................................... 23 8 n .a . 4 2 1 n .a . - 2 4 .0 - 7 5 .0 — — — — — — — .---------— n .a .: Da t a n o t a v a i l a b l e . So u r c e : Du n & Br a d s t r e e t, Inc . N O T E.— Th i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . — — A p r il 143 1979 H ig h lig h ts 1977 :IV to 1978 :IV Personal income — U p 13.2% vs. 12.6% in U .S., to $24.4 billion — F a rm p e rso n a l in c o m e dow n 23.7% vs. 26.3% in cre a se in U .S. — P ay ro lls up 20.0% in tra d e vs. 14.1% in U .S. Consumer prices — U p 11.1% in C in c in n a ti vs. 8.9% in U .S. Employment — U p 0.8% vs. 3.9% in U .S ., to 1.5 m illion Unemployment — U p 8,000, to 77,000 — R a te up to 4.9% o f la b o r force vs. 5.5% U .S. ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 31.1% vs. 16.8% in U .S ., to $1.0 billion — V a lu a tio n o f n o n b u ild in g c o n tra c ts up 45.3% vs. 22.2% in U .S. — N u m b e r o f d w e lling -u n it s ta rts little c h a n ge d , as in U .S ., a t 8,308 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ke n t u c k y Un i t e d St a t e s U .S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 0 ,8 6 9 2 1,5 73 2 3 ,6 9 5 2 4 ,4 18 12 .4 13 .5 12 .6 13 .2 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 12 ,6 9 3 13 ,0 71 14 ,3 7 1 15 ,0 2 4 12 .1 13 .2 12 .6 14 .9 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 1,4 75 1,4 9 0 1,5 15 1,5 0 3 Un e m p l o y m e n t ( t h o u s a n d s ) ................................................................................................................................. 6 ,14 9 5 ,6 0 5 63 69 81 77 4 .1 - 9 .8 — 2 .7 3 .9 .8 2 8 .1 - 8 .8 10 .6 — Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 4 .1 4 .5 5 .1 4 .9 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 7,5 2 1 7,8 5 1 9 ,0 0 7 n .a . 16 .3 19 .8 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 11,2 0 5 12 ,18 2 12 ,6 2 2 n .a . 11.5 12 .6 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 7 7 6 ,7 4 7 76 2 ,6 3 3 1,3 2 6 ,2 4 3 1,0 0 0 ,13 5 14 .5 70 .7 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 9 ,2 0 2 8 ,3 6 3 9 ,72 6 8 ,3 0 8 1.0 5 .7 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 1,3 5 7 1,2 78 1,2 8 1 n .a . 8 .2 - 5 .6 B u s i n e s s f a i l u r e s ( n u m b e r ) ................................................................................................................................... 1,6 8 4 n .a . 22 18 26 n .a . - 9 .5 18 .2 18 5 .3 — 2 0 1.8 — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... C i n c i n n a t i ................................................................................................................................................................. n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . __ 18 5 .2 _ ___ 18 6 .7 _____ 2 0 2 .3 __ 2 0 7.5 7.9 — — — — — — — 16 .8 — 1 1 .2 — __ 9 .2 3 1.1 - .6 — 8 .9 — - .7 — _ _ _ 1 1 .1 144 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se asona lly a d ju s te d a t a n n ua l ra te s) increased 13.2 p e rc e n t from 1977:IV to 1978:IV, c o m p a re d w ith a 12.6 -pe rce n t n a tio n a l in crease (ta b le 2). In 1978:IV, th e S ta te ’s p e rso n a l in co m e to ta le d $24.4 b illio n, u p $2.8 billion since 1977:IV. K e n tu c k y ’s in crease in to ta l p e rso n a l in c o m e w ou ld h a ve bee n large r h a d it n o t been fo r a 2 3.7 -p erc en t d ec line in fa rm p e rso n a l in co m e, th e second large st decline in th e N a tio n , c o m p a re d w ith a n a tio n a l in cre ase o f 26.3 p erc e n t. T he S ta te ’s n o n fa rm p e rs o n a l in c o m e inc re a se d 14.2 p e rc e n t from y e a r to y ea r versus 12.3 p e rc e n t n a tio n a lly . Since th e m o st re c e n t n a tio n a l b usine ss cycle p ea k in 1973:IV, K e n tu c k y ’s e c o n o m y h a s g ro w n m o re ra pid ly th a n th e N a tio n ’s; th e in cre ase in th e S ta te ’s n o n fa rm in co m e w as 21 p e rc e n t m o re th a n n a tio n a lly , ra n k in g K e n tu c k y 12th a m o n g all S tates. F ro m 1977:1 V to 1978:1V, th e Consumer Price Index for th e C in c in n a ti m e tro p o lita n a re a in c re a se d 11.1 p e rc e n t versus an 8 .9-pe rc e nt n a tio n a l city av erag e incre ase (ta b le 3). I f C in c in n a ti’s index is used as an in d ic a to r fo r price m o v em e n ts in th e S ta te , real to ta l p e rso n a l in co m e in K e n tu c k y in c re a se d o n ly 2.1 p e rc e n t from ye a r to y e a r versus 3.7 p e rc e n t n atio n a lly . Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t W age and salary disbursements (p a y ro lls) in c re a se d 14.9 p e rc e n t in the S tate, o ne o f th e la rg e st incre ases in th e N a tio n , c o m p a re d w ith a n a tio n a l in cre a se o f 12.6 p ercent. W ithin K e n tu c k y ’s p riv a te service-type in d u stry g ro u p , tra d e p ay ro lls increased 20.0 p e rc e n t from y e a r to y ea r, a lm o s t 6 p e rc e n ta g e p o ints m o re th a n n a tio n a lly ; K e n tu c k y ’s in crease w as th e sixth large st in th e N a tio n . T h e d o lla r in cre a se in tra d e p ay ro lls a c c o u n te d fo r on e-fifth o f th e y e a r-to -y e a r in cre a se in all p ay ro lls in th e S ta te . P a yrolls in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities in cre a se d 11.5 p erc en t versus 11.3 p e rc e n t n a tio n a lly , a n d services p a y ro lls inc re a se d 12.9 p e rc e n t versus 12.7 p e rc e n t n a tio n a lly . In c o n tra s t, p a y ro lls in financein su ra n c e -re a l e s ta te in c re a se d 9.8 p erc e n t, c o m p a re d w ith a 13.2p erc e n t incre ase n a tio n a lly ; K e n tu c k y ’s in crease ra n k e d 43rd in the N a tio n . S ta te a n d local g o v e rn m e n t p a yro lls inc re a se d 12.0 p e rc e n t in K e ntuc ky, th e sixth large st in cre a se in th e N a tio n ; n a tio n a lly , S ta te a n d local g o v e rn m e n t p a y ro lls inc re a se d 6.8 p e rce nt. In c o n tra s t, F ed era l G o v e rn m e n t p a y ro lls in c rea se d 4.1 p erc e n t, o n e o f th e sm a llest increases in th e N a tio n , c o m p a r e d w ith a n a tio n a l in crease o f 7.1 p e rce nt. P ay ro lls in th e c o n s tru c tio n in d u stry inc re a se d 26.0 p e rc e n t in th e S tate versus 20.1 p e rc e n t n a tio n a lly . M in in g p a y ro lls in c re ased 31.2 p erc en t versus 33.9 p e rc e n t n a tio n a lly ; th e d o lla r in crease in m ining p a yro lls a c c o u n te d fo r 15 p e rc e n t o f th e y e a r-to -y e a r incre ase in all p ay ro lls in the S tate. D u ra b le g o o d s m a n u fa c tu rin g p ay ro lls in c re ased 16.4 p e rce nt, 1.2 p e rc e n ta g e p o in ts m o re th a n n atio n a lly . In c o n tra s t, n o n d u ra b le g o o ds m a n u fa c tu rin g p a y ro lls inc re a se d 7.1 p erc e n t, o n e o f th e sm allest incre ases in th e N a tio n , c o m p a re d w ith a 10.0-percent n a tio n a l increase. F ro m 1977:IV to 1978:IV, S ta te u n e m p lo y m e n t in su ra n c e benefits dec line d 37.2 p e rc e n t in K e n tu c k y a n d 30.3 p e rc e n t n atio n a lly . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V Pe r c e n t □ Un i t e d St a t e s Ci n c i n n a t i To t a l Pe r s o n a l M an u fac tu r in g Pr i v a t e Go v e r n m e n t In c om e W a g e s a n d Sa l a r i e s Se r vi c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l I n c o m e C h a r t 4 .— I n d u s t r i a l C o m p o s i t i o n o f W a g e s a n d Sa l a r i e s : K e n t u c k y [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 Billion s T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ke n t u c k y Un i t e d St a t e s U.S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e 19 7 7 :1V — 19 78 :111 M i l l i o n s o f d o l l a r s , s e a s o n al l y a d j u s t e d a t a n n u a l r a t e s ' 19 78 :1V Pe r c e n t c h a n g e 2 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 0 ,8 6 9 2 1,5 73 2 3 ,6 9 5 2 4 ,4 18 12 .4 13 .5 12 .6 13 .2 Fa r m p e r so n al i n c o m e ................................................................................................................................................. 3 1,2 2 4 3 9 ,4 5 1 46 3 5 71 6 09 436 4 7.9 3 1.6 2 6 .3 - 2 3 .7 No n f a r m p e r s o n a l i n c o m e ........................................................................................................................................ 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 2 0 ,4 0 6 2 1,0 0 1 2 3 ,0 8 5 2 3 ,9 8 2 11.9 13 .1 12 .3 14 .2 To t a l p e r s o n a l i n c o m e ............................................................................................................................ 1,5 8 3 ,5 0 8 1,78 2 ,5 19 2 0 ,8 6 9 2 1,5 73 2 3 ,6 9 5 2 4 ,4 18 12 .4 13 .5 12 .6 13 .2 W ag e a n d s al a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 12 ,6 9 3 13 ,0 71 14 ,3 71 15 ,0 2 4 12 .1 13 .2 12 .6 14 .9 Ot h e r l a b o r i n c o m e ....................................................................................................................................................... 9 6 ,0 16 1 1 1 ,7 1 9 1,5 2 2 1,5 8 4 1,8 0 1 1,8 9 5 17.0 18 .3 16 .4 19 .6 Pr o p r i e t o r s ’ i n c o m e ....................................................................................................................................................... 10 5 ,9 5 3 12 5 ,9 9 5 1,6 77 1,8 0 9 2 ,0 3 8 1,9 2 3 2 1.5 2 1.5 18 .9 6 .3 Fa r m .................................................................................................................................................................................... 2 3 ,6 3 6 3 1,0 4 4 356 46 2 49 6 3 18 6 6 .6 3 9 .5 3 1.3 - 3 1 .2 . N o n f a r m ........................................................................................................................................................................... 8 2 ,3 17 9 4 ,9 5 1 1,3 2 2 1,3 4 7 1,5 4 2 1,6 0 6 12 .8 16 .7 15 .3 19 .2 Di v i d e n d s , i n t e r e s t , a n d r e n t .................................................................................................................................. 2 14 ,9 9 2 2 4 2 ,4 4 2 2 ,5 17 2 ,5 79 2 ,8 2 8 2 ,9 13 12 .3 12 .4 12 .8 12 .9 Tr a n s f e r p a y m e n t s ......................................................................................................................................................... 2 15 ,9 4 4 2 3 3 ,75 0 3 ,13 8 3 ,2 3 2 3 ,4 6 0 3 ,5 0 6 8 .8 10 .3 8 .2 8 .5 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ................................................................................................. 11,12 8 7,75 3 10 1 14 0 10 1 88 - 2 4 .0 .3 - 3 0 .3 - 3 7 .2 Le s s : p e r so n al c o n t r i b u t i o n s .................................................................................................................................. 6 2 ,2 12 71,6 10 8 17 830 942 9 75 15 .1 17 .5 Pl u s : r e s i d en c e a d j u s t m e n t ...................................................................................................................................... -4 0 1 -4 73 13 9 12 8 13 8 13 2 W ag e a n d s a l a r y d i s b u r s e m e n t s .......................................................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 12 ,6 9 3 13 ,0 71 14 ,3 71 15 ,0 2 4 12 .1 13 .2 12 .6 14 .9 Fa r m .................................................................................................................................................................................... 7 ,17 6 7,9 3 9 10 5 10 7 111 116 8 .5 5 .5 10 .6 8 .0 N o n f a r m ........................................................................................................................................................................... 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 12 ,5 8 8 12 ,9 6 4 14 ,2 6 0 14 ,9 0 9 12 .1 13 .3 12 .6 15 .0 M i n i n g ........................................................................................................................................................................... 14 ,0 4 8 18 ,8 13 9 19 9 23 1,13 4 1,2 11 2 6 .5 2 3 .4 3 3 .9 3 1.2 C o n s t r u c t i o n ........................................................................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 72 5 76 9 968 9 70 19 .1 3 3 .5 2 0 .1 2 6 .0 M a n u f a c t u r i n g ....................................................................................................................................................... 2 76 ,112 3 12 ,9 70 3 ,6 14 3 ,72 6 3 ,9 6 8 4 ,2 0 5 12 .1 9 .8 13 .3 12 .8 Du r a b l e g o o d s ................................................................................................................................................. 176 ,2 16 2 0 3 ,0 5 3 2 ,17 7 2 ,2 8 9 2 ,4 5 5 2 ,6 6 5 13 .7 12 .8 15 .2 16 .4 14 .8 15 .2 — — — No n d u r a b l e g o o d s ........................................................................................................................................ 9 9 ,8 9 6 10 9 ,9 17 1,4 3 7 1,4 3 8 1,5 13 1,5 4 0 9 .4 5 .3 10 .0 7 .1 Pr i v a t e s e r v i c e - t y p e .......................................................................................................................................... 4 5 5 ,76 4 5 15 ,3 4 8 4 ,8 2 8 4 ,9 5 3 5 ,4 71 5 ,70 3 12 .8 13 .3 13 .1 15 .2 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... 76 ,5 8 4 8 5 ,2 6 4 9 79 1,0 0 7 1,0 6 1 1,12 3 10 .4 8 .4 11.3 11.5 W h o l e s a l e a n d r e t a i l t r a d e .................................................................................................................... 170 ,8 8 8 19 5 ,0 3 5 1,9 4 7 1,9 79 2 ,2 8 3 2 ,3 75 13 .6 17.2 14 .1 2 0 .0 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ............................................................................................... 5 4 ,4 5 2 6 1,6 5 3 46 9 48 5 5 18 5 33 14 .1 10 .5 13 .2 9 .8 Se r v i c e s ................................................................................................................................................................. 15 3 ,8 4 0 173 ,3 9 6 1,4 3 3 1,4 8 2 1,6 0 9 1,6 73 12 .6 12 .3 12 .7 12 .9 Go v e r n m e n t ............................................................................................................................................................. 2 0 1,2 5 2 2 15 ,0 8 3 2 ,4 77 2 ,5 6 7 2 ,6 8 9 2 ,79 0 7.4 8 .6 6 .9 8 .7 Fe d e r a l ................................................................................................................................................................... 6 8 ,176 73 ,0 0 3 1,0 4 2 1,0 8 8 1,0 8 9 1,13 3 7.3 4 .5 7 .1 4 .1 St a t e a n d l o c a l ............................................................................................................................................... 13 3 ,0 76 14 2 ,0 8 0 1,4 3 5 1,4 79 1,6 0 0 1,6 5 7 7.5 11.5 6 .8 12 .0 O t h e r ............................................................................................................................................................................. 3 ,2 16 3 ,6 8 5 26 26 30 30 18 .7 18 .4 14 .6 15 .4 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t da ta. Di v i s i o n . T A B LE 3 — Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Ke n t u c k y Un i t e d St a t e s U .S . St a t e 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V U .S . c i t y a ve r a g e 2 ........................................................................................................................................ 18 5 .3 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a ta a r e a va i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b ase d o n t h e 19 70 Ce n s u s o f Po p u l a t i o n . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . 19 78 :1V Pe r c e n t c h an g e 7.9 2 0 1.8 18 5 .2 18 6 .7 St a t e 19 7 7:1V — 19 78 :111 I n d e x, 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d Ci n c i n n a t i .............................................................................................................................................................................. U .S . 2 0 2 .3 2 0 7.5 8 .9 9 .2 1 1 .1 N O T E — Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 7 8 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s ar e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . 146 S TA TE Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS L a b o r F o rce F ro m 1977:IV to 1978:IV, K e n tu c k y ’s civilian labor force in c re a se d 1.2 p e rc e n t v ersu s 3.1 p e rc e n t n a tio n a lly (ta b le 4). K e n tu c k y ’s in cre ase w as o n e o f th e sm alle st in th e N a tio n . Total employment in c re a se d only 0.8 p e rc e n t v ersus 3.9 p e rc e n t n a tio n a lly , to 1.5 m illion; th e S ta te ’s in cre ase ra n k e d 4 7th. W ith th e la b o r fo rce in cre asing by a b o u t 19,000 a n d e m p lo y m e n t in cre a sin g c o n sid e ra b ly less, th e n u m b e r o f unemployed in c re ased a b o u t 8 ,0 0 0 , to 7 7 ,00 0 . K e n tu c k y ’s unem ploym ent rate in c re a s e d 0 .4 Ch a r t p e rc e n ta g e p o in t, to 4.9 p e rc e n t o f th e la b o r force. T h e n a tio n a l u n e m p lo y m e n t ra te in 1978:IV w a s 5.5 p e rc e n t, d o w n 0.7 p e rc e n ta g e p o in t from th e 1977:IV level. P re lim in a ry d a ta fo r D e c em b e r 1978, w he n th e S ta te ’s u n e m p lo y m e n t ra te w as 5.2 p erc e n t, sho w u n e m p lo y m e n t ra te s o f 4.8 p e rc e n t in L ouisville a n d 3.3 p e rc e n t in L e x in g to n -F a y e tte , b o th d o w n o nly fra c tio n a lly from D e c e m b e r 1977 levels. 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : K e n t u c k y Ch a r t T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Ke n t u c k y Th r o u | h 19 78 :1V Ra t e s , 1 9 7 7 :1 V — 19 78 :1V Fo u r t h Qu a r t e r , 19 78 Ke n t u c k y Un i t e d St a t e s 19 77:1V 6 .— U n e m p l o y m e n t 19 77:111 19 77:1V 19 78 :111 St a t e U .S . 19 78 :1V U .S . St a t e 1 9 7 7 :1 1 1 - 1 9 7 7 :1 V - 19 78 :111 19 78 :1V Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r l c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 1,16 6 1,19 3 1,2 3 7 1,2 6 2 4 .3 6 .1 4 .2 5 .7 M i n i n g ....................................................................................................................................................................................... 78 7 899 47 47 59 60 8 .2 2 4 .5 14 .2 2 6 .6 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 69 67 80 74 10 .4 16 .4 11.3 9 .8 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 28 4 28 8 29 4 300 3 .1 3 .3 3 .7 3 .8 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 65 66 69 69 3 .8 5 .2 4 .4 5 .8 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 25 1 26 2 26 9 2 75 5 .3 7.2 4 .5 4 .8 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 47 48 51 52 4 .8 7.8 S e r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 18 6 18 8 19 0 19 2 4 .6 2 .6 - 2 .0 7.3 4 .4 2 .5 4 .1 1.4 6 .0 3 .7 3 .1 1.2 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 2 17 227 225 240 2 .1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1,5 3 8 1,5 6 0 1,5 9 5 1,5 79 3 .2 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,4 75 1,4 9 0 1,5 15 1,5 0 3 4 .1 2 .7 3 .9 .8 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 63 69 81 77 - 8 .8 10 .6 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 4 .1 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Base d on un r o u n d ed da ta. 3 . B e g i n n i n g Ja n u a r y 19 7 8 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f l a b o r , Bu r e a u o f La b o r St a t i s t i c s . 4 .5 5 .1 4 .9 - 9 .8 — 2 8 .1 — — A p r il 1979 147 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e I n d e x, 19 72 = 10 0 Ch a r t Em p l o y m e n t In d e x, 19 72 = 10 0 Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n Ke n t u c k y Pe r c e n t 8 .— Ci v i l i a n M il li o n s of No n a g r i c u l t u r a i Em p l o y m e n t : 148 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM EN TS C o m m er cia l B a n k in g D u e to c ha n ge s in the d a ta re p o rtin g p ra c tic e s o f th e F ed e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu de th e c o m m erc ia l b a n k in g discussion a n d th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Ke n t u c k y U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 : I V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Mil lio ns o f dol lar s, n ot seasonally ad ju s te d 1 St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e 2 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 7,5 2 1 7,8 5 1 9 ,0 0 7 n .a . 16 .3 19 .8 Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,5 9 6 1,70 8 2 ,0 2 0 n .a . 14 .2 2 6 .6 — __ __ __ Lo a n s t o i n d i v i d u a l s ...................................................................................................................................................... 14 0 ,5 9 9 n .a . 2 ,4 5 3 2 ,5 3 1 2 ,9 2 9 n .a . 2 0 .2 19 .4 — — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 2 ,6 9 0 2 ,79 9 3 ,2 11 n .a . 19 .9 19 .4 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,3 5 3 1,4 2 8 1,6 75 n .a . 2 1.3 2 3 .8 — — Fa r m s ................................................................................................................................................................................... 7 ,73 1 n .a . 39 8 40 6 445 n .a . 10 .7 1 1 .7 — — — Ot h e r ................................................................................................................................................................................... 6 8 ,9 6 8 n .a . 9 39 965 1,0 9 0 n .a . 19 .0 16 .2 — Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 40 7 397 45 3 n .a . 6 .8 11 .1 — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 3 74 4 15 39 4 n .a . 8 .0 5 .2 — — To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 11,2 0 5 12 ,18 2 12 ,6 2 2 n .a . 11.5 12 .6 D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 4 ,4 2 7 5 ,2 3 5 4 ,8 9 8 n .a . 10 .2 10 .6 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 6 ,778 6 ,9 4 7 7,72 5 n .a . 12 .3 14 .0 1. De t a i l m a y n ot a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — ' --------— — _____ — C o n str u c tio n F ro m 1977:1V to 1978:IV, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 31.1 p e rc e n t ($237.5 m illion), to $1.0 billion (ta b le 6). K e n tu c k y ’s p e rc e n t in c re a se , o n e o f th e large st in th e N a tio n , w as a lm o s t tw ice th e n a tio n a l in crease. In 1978:1V, a $250 m illion c o n tra c t fo r th e c o n s tru c tio n o f a n e lec tric g e n e ra tin g p la n t in B o one C o u n ty a n d a $41 m illion c o n tra c t fo r th e c o n s tru c tio n o f a m a n u fa c tu rin g p la n t in M u h le n b e rg C o u n ty ra ise d th e S ta te ’s to ta l v a lu a tio n o f c o n tra c ts to a n u n u su a lly high level, th e re b y d is to rtin g th e y e a r-to -y e a r c ha nge . It sh o u ld be n o te d , how e ver, th a t a $75 m illion c o n tra c t in 1977:IV fo r th e c o n s tru c tio n o f a n e lec tric g e n e ra tin g p la n t in W e b ste r C o u n ty o ffse t th e d isto rtin g effect o f th e tw o la rg e 1978:IV c o n tra c ts . I f all th re e c o n tra c ts a re e xc lu d ed , th e to ta l v a lu a tio n o f c o n tra c ts in K e n tu c k y w ou ld h a ve in c re a se d o nly 3.1 p e rce nt. N a tio n a l c o n s tru c tio n c o sts in c re a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e s p a n , a n d if th is in cre a se is re p re se n ta tiv e o f th e in crease th ro u g h o u t th e S ta te , th e re a l in cre a se in th e to ta l v a lu a tio n o f c o n tra c ts in K e n tu c k y w as a b o u t 18 p e rc e n t (in clu din g th e th re e c o n tra c ts a b o v e ) v ersus a b o u t 4 p e rc e n t n a tio n a lly . Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n P rim a rily reflecting th e electric g e n e ra tin g p la n t c o n tra c ts , n o n b u ild in g c o n tra c ts inc re a se d 45.3 p e rc e n t in v a lu a tio n , c o m p a re d w ith a 22.2p e rc e n t n a tio n a l incre ase. T h e v a lu a tio n o f stre e t a n d h ighw a y c o n tra c ts , a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , d ec line d 53.1 p e rc e n t in th e S ta te a n d 16.3 p e rc e n t n a tio n a lly . K e n tu c k y ’s d ec line w a s o n e o f the large st in th e N a tio n . R e fle c tin g th e m a n u f a c tu r in g p l a n t c o n tr a c t, th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts in c re ased 33.1 p erc e n t, m o re th a n tw ice a s m uc h as n atio n ally . C o n tra c ts fo r re sid e ntia l h o u se k e e p in g a d d itio n s a n d a lte ra tio n s in cre a se d 31.2 p e rc e n t in v a lu a tio n , o n e o f th e la rge st inc re a se s in th e N a tio n . N a tio n a lly , a d d itio n a n d a lte ra tio n c o n tra c ts in c re a se d 14.6 p e rc e n t in v a lu a tio n . T h e v a lu a tio n o f re sid e n tia l h o u s e k e e p in g c o n tra c ts inc re a se d 17.8 p e rc e n t, c o m p a r e d w ith a 1 5.6-percent n a tio n a l in crease. In c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d in K e n tu c k y w a s v irtu ally u n c h a n g e d , a t 8,308 u n its. N a tio n a lly , th e n u m b e r o f d w e l ling u n its s ta rte d w as virtu ally u n c h a n g e d a t a h ig h level. Ch a r t 1 5 .— Co n s t r u c t i o n . Bil l io n S I n d e x , 19 7 6 = 1 0 0 Ch a r t Pe r c e n t 16 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Ke n t u c k y ’ Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s 19 77:1V 19 78 :1V Ke n t u c k y 19 77:1V 19 77:111 19 78 :111 U .S . St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e 2 No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. U.S . 19 77:111 — 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 7 7 6 ,7 4 7 76 2 ,6 3 3 1,3 2 6 ,2 4 3 1,0 0 0 ,13 5 14 .5 70 .7 16 .8 3 1.1 7,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 12 9 ,3 3 6 10 6 ,6 9 2 15 0 ,6 0 0 13 9 ,9 4 4 16 .8 16 .4 14 .6 3 1.2 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,6 5 0 1,2 5 8 1,76 1 1,16 6 4 .4 6 .7 - 9 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 6 4 7,4 11 6 5 5 ,9 4 1 1,175 ,6 4 3 8 6 0 ,19 1 14 .0 8 1.6 17.4 3 1.1 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 16 ,3 13 13 ,5 6 2 18 ,9 73 16 ,8 2 4 10 .8 16 .3 10 .2 2 4 .1 Re s i d e n t i a l - 7 .3 housekeeping: Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 43 9 445 445 443 - 5 .1 1.4 - 4 .3 - .4 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 9 ,2 0 2 8 ,3 6 3 9 ,72 6 8 ,3 0 8 1.0 5 .7 - .6 - .7 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 2 71,2 4 9 2 4 6 ,3 72 3 4 0 ,5 8 5 2 9 0 ,2 6 7 15 .3 2 5 .6 15 .6 17.8 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 10 ,8 3 4 9 ,8 0 2 12 ,75 1 10 ,778 10 .3 1 7 .7 10 .7 10 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 7 11 10 11 - 1 0 .0 4 2 .9 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 79 3 ,8 4 3 6 ,2 70 3 ,6 0 1 5 ,4 4 1 9 .4 - 6 .3 4 4 .8 - 1 3 .2 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 27 70 79 12 6 - .7 18 8 .3 2 4 .7 8 0 .4 - .4 .0 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 440 437 48 1 43 9 - 2 .5 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 19 5 ,14 6 176 ,5 2 2 19 4 ,8 5 3 2 3 4 ,8 9 3 2 7.6 - .2 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 5 ,4 5 2 3 ,6 9 0 6 ,14 3 5 ,9 2 0 12 .2 2 2 .4 9 .3 - 1 2 .0 .5 15 .8 3 3 .1 1 2 .7 8 .9 6 0 .4 8 .0 - 9 .1 - 2 5 .2 2 5 9 .3 2 2 .2 4 5 .3 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 76 4 36 5 8 25 2 73 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 1 7 7 ,1 7 3 2 2 6 ,7 77 6 3 6 ,6 0 4 3 2 9 ,5 9 0 - .1 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 443 15 0 46 2 92 9 .3 4 .3 - 1 7 .8 - 3 8 .7 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 1 1 7 ,1 6 4 9 8 ,14 7 13 8 ,0 5 6 4 6 ,0 17 3 .0 1 7 .8 - 1 6 .3 - 5 3 .1 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l 2 . Pe r c e n t c h an g es f o r f l o o r a r e a b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . I n f o r m a t i o n Sy s t e m s Co m p a n y . R e ta il S a le s R e ta il sales d a ta fo r K e n tu c k y a re n o t a va ilab le . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Fo u r t h Qu a r t e r , 19 78 Ke n t u c k y Un i t e d St a t e s U .S . St a t e U .S . 19 77:111 — 19 7 7:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :I V St a t e 19 77:1V — 19 78 :111 Mill io ns o f do l la rs , not seasonally ad jus ted 19 78 :1V Pe r c e n t c h an ge Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .a . n .a . n .a . 10 .3 — 11.2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . n .a . 1 1.8 — 15 .3 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n .a . 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Ke n t u c k y Th r o u g h Un i t e d St a t e s Fo u r t h Qu a r t e r , 19 78 U .S . Ke n t u c k y St a t e 19 77:1V 19 78 :1V 19 77:111 19 7 7: IV 19 78 :111 19 78 :1V 1 9 7 7 :1 V 19 78 :1V 19 78 :111 Pe r c e n No t s e a s o n a l l y a d j u s t e d St a t e U .S . 1 9 7 7 :1 1 1 - c h an ge Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .i . 1,3 5 7 1,2 78 1,2 8 1 n .a . 8 .2 - 5 .6 To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 22 18 26 n .a . - 9 .5 18 .2 — — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 3 ,5 9 6 4 ,78 2 3 ,5 2 0 n .a . - 4 4 .2 - 2 .1 — — Ave r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 16 3 26 6 13 5 n .a . - 3 8 .4 - 1 7 .2 — — - 7 5 .0 — — — — Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 4 3 1 n .a . - 1 0 .1 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 7 4 7 n .a . 1.0 .0 W h o l e s a l e t r a d e ......................... ....................................................................................................................................... 19 1 n .a . 2 3 1 n .a . - 2 7 .1 - 5 0 .0 Re t a i l t r a d e ........................................................................................................................................................................... 6 88 n .a . 6 8 14 n .a . - 4 .2 13 3 .3 Co m m e r c i a l s e r v i c e s ..................................................................................................................................................... 23 8 n .a . 3 0 3 n .a . - 2 4 .0 .0 — — — — — — — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.- T h i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1 51 1979 1977:IV to 1978:1V Personal income — U p 14.1% vs. 12.6% in U .S ., to $27.6 billion — P ay ro lls up 11.7% in n o n d u ra b le s m a n u fa c tu rin g vs. 10.0% in U .S . — P ayrolls up 16.1% in services vs. 12.7% in U .S. Consumer prices — U p 9.2% in D a llas a n d 12.1% in H o u s to n vs. 8.9% in U .S. Employment — U p 3.7% vs. 3.9% in U .S ., to 1.5 m illion Unemployment — D ow n 4,000, to 95,000 — R a te d ow n to 5.9% o f la b o r force vs. 5.5% U .S. ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 51.2% vs. 16.8% in U .S ., to $1.1 billion — V a lu a tio n o f n o n re sid e n tia l c o n tra c ts up 154.6% vs. 15.8% in U .S . — N u m b e r o f d'- -lling-unit sta rts d ow n 14.5% vs. n e a r sta b ility in U .S ., to 8,374 Retail sales — U p 5.9% vs. 11.2% in U .S., to $3.4 billion T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Lo u i s i a n a Un i t e d St a t e s U.S . St a t e U.S . 19 77:111 — 19 78 :1V 19 77:1V 19 77:I V 19 77:111 19 78 :111 19 78 :1 V 19 78 :111 To t a l w ag e s a n d s a l a r i e s (m i l l i o n s o f d o l l a r s )........................................................................................... Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 19 78 :1V Pe r c e n t c h a n g e Al l i n d i c a t o r s , e x c e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d To t a l p e r s o n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... St a t e 1 9 7 7 :1 V - 1,5 8 3 ,5 0 8 ,78 2 ,5 19 2 3 ,3 19 2 4 ,16 8 2 6 ,6 0 1 2 7,5 74 12 .4 14 .1 12 .6 14 .1 1,0 13 ,2 16 1,14 0 ,6 9 6 15 ,2 16 15 ,74 3 17,4 5 8 17,9 76 1 2 .1 14 .7 12 .6 14 .2 9 2 ,4 4 2 9 6 ,0 10 1,4 6 7 1,4 6 0 1,5 1 1 1,5 14 4 .1 3 .0 3 .9 6 ,14 9 5 ,6 0 5 112 99 110 95 - 1 .1 - 8 .8 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) ............................................................................. 6 .2 5 .5 7 .1 6 .3 6 .8 5 .9 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) ......................................................................................................................... 6 10 ,5 0 2 n .a . 8 ,5 9 4 8 ,9 8 1 10 ,2 5 1 n .a . - 9 .8 — — 16 .3 3 .7 - 4 .2 — — 19 .3 — — — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 13 ,6 3 6 14 ,72 5 15 ,3 8 4 n .a . 1 1.5 12 .8 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 8 0 8 ,13 6 74 4 ,9 79 2 ,111,0 9 4 1 ,1 2 6 ,12 7 14 .5 16 1.2 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 9 ,9 3 9 9 ,79 4 9 ,9 6 7 8 ,3 74 1.0 .3 To t a l r e ta i l sal e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 n .a . 3 ,2 0 7 3 ,2 4 7 3 ,3 9 6 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ........................................................................................................ 10 9 ,4 11 n .a . 2 ,175 1,9 2 2 3 ,0 13 n .a . 8 .2 3 8 .5 — — Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 13 9 20 n .a . - 9 .5 5 3 .8 — — Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ........................................................................................................................................................ Da l l a s ............................................................................................................................................................................ ____ Ho u s t o n _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ n .a .: Da t a n o t a v a i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 18 5 .3 — — 2 0 1.8 — — ___ 18 2 .4 ____ 19 1.6 __ 18 3 .8 ____ 13 2 2 ___ __ __ 19 7.3 2 0 0 .7 2 11.0 ___ 2 16 .0 7.9 — — 16 .8 - .6 — 5 1.2 - 1 4 .5 1 1.2 _____ 8 .2 , 1Q ,1 8 .9 — — 5 .9 __ 9 .2 ...L U - S TA TE Q U A R T E R L Y E C O N O M IC 152 DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se aso na lly a d ju s te d a t a n n u a l ra te s) increased 14.1 p erc e n t from 1977:IV to 1978:IV versus 12.6 p e rc e n t n atio n a lly (ta b le 2). In 1978:1 V, th e S ta te ’s p e rso n a l in co m e to ta le d $17.6 billion, u p $3.4 b illio n since 1977:IV. L o u is ia n a ’s in crease in to ta l p e rso n a l in co m e w o u ld h a ve been sm alle r h a d it n o t been fo r a 7 1.2-percen t in cre ase in fa rm p e rs o n a l in co m e , c o m p a re d w ith a 26.3 -p erc en t n a tio n a l g a in . T h e S ta te ’s n o n fa rm p e rso n a l incom e in c re a se d 13.1 p e rc e n t from y e a r to y e a r versus 12.3 p e rc e n t n a tio n a lly . Since th e m o st re c en t n a tio n a l b usine ss cycle p e a k in 1973:1 V, L o u is ia n a ’s e c o n o m y has g ro w n m o re ra p id ly th a n th e N a tio n ’s; th e in crease in th e S ta te ’s n o n fa rm in c o m e w a s 23 p e rc e n t m o re th a n n a tio n a lly , ra n k in g L o u isia n a 10th a m o n g all S tates. F ro m 1977:1V to 1978:1 V, consumer prices in th e D a lla s a n d H o u s to n m e tro p o lita n a re a s rose 9.2 p e rc e n t a n d 12.1 p e rc e n t, respectively, Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V [ Se a s o n a l l y a d j u s t e d ] c o m p a re d w ith a n 8.9 -p e rc e n t n a tio n a l city ave rag e in crease (ta b le 3). If an a v e ra g e o f th e tw o a re a indexes is used as a n in d ic a to r fo r price m o v e m e n ts in th e S ta te, real to ta l p e rs o n a l in c o m e in L o u isia n a in cre a se d 3.5 p e rc e n t from y e a r to y e a r v ersus 3.7 p e rc e n t n a tio n a lly . W age and salary disbursements (pa y ro lls) in cre a se d 14.2 p e rc e n t in th e S ta te v ersus 12.6 p e rc e n t n a tio n a lly . T h e S ta te ’s services p a yro lls re g iste re d o n e o f th e la rge st inc re a se s in th e N a tio n , 16.1 p erc e n t, c o m p a re d w ith a 12.7-percent n a tio n a l a v e rag e incre ase. S im ilarly, p a y ro lls in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities inc re a se d 13.7 p e rc e n t in L o u isia n a , 2.4 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly . In c o n tra s t, a n in crease o f 13.9 p e rc e n t in th e S ta te ’s tra d e p ay ro lls w as slightly less th a n th e n a tio n a l in crease, a n d a p ay roll in cre ase o f 11.3 p erc e n t in F ina nce-insurance -re al e s ta te lagged th e N a tio n ’s in crease by 1.9 p e rc e n ta g e p oin ts. C o n s tr u c tio n p a y ro lls in c re a se d 21.2 p e rc e n t from y e a r to yea r, c o m p a r e d w ith a n a tio n a l g ain o f 20.1 p e rce nt. M in in g p ay ro lls in c re a se d 29.7 p e rc e n t in th e S ta te versus 33.9 p erc e n t n a tio n a lly . In m a n u fa c tu rin g , n o n d u ra b le g o o d s p a y ro lls in c re a se d 11.7 p e rc e n t in L o u isia n a , 1.7 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly . In c o n tra st, d u ra b le g o o d s m a n u fa c tu rin g p a y ro lls in cre a se d 14.7 p e rc e n t in th e S ta te , o r slightly less th a n n atio n ally . Pe r c e n t F e d e ra l G o v e rn m e n t p a y ro lls in c re ased 8.8 p e rc e n t from y e a r to y ear versus 7.1 p e rc e n t n a tio n a lly . In c o n tra s t, S ta te a n d local g o v e rn m e n t p a y ro lls in c re a se d 3.7 p e rc e n t in L o u isia n a , o n e o f th e sm allest incre ases in th e N a tio n , c o m p a re d w ith a n a tio n a l in cre ase o f 6.8 p erc e n t. F ro m 1977:IV to 1978:1 V, S ta te u n e m p lo y m e n t in sura n c e benefits de c line d 34.1 p e rc e n t versus a dec line o f 30.3 p e rc e n t n atio n ally . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :1 V — 19 78 :1V Pe r c e n t □ U n i t e d St a t e s Ho u s t o n Da l l a s To t a l Pe r s o n a l M an u fac tu rin g In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e - t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l In c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f Wages a n d Sa l a r i e s : Lo u i s i a n a [ Se a s o n a l l y a d j u s t e d ] I n d e x , 19 72 = 10 0 [ Se a s o n a l l y a d j u s t e d ] Billion s T A B LE 2 — Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Lo u i s i a n a Un i t e d St a t e s 19 77:I V 19 78 :1V 19 77:11 19 77:1V U .S . St a t e 19 78 :111 19 78 :1V M i l l i o n s o f d o l l a r s , s e a s o n a l l y a d j u s t e d at a n n u a l r a t e s ' To t a l p e r s o n a l I n c o m e U .S . 1 9 7 7 :1 V - 19 78 :1V 19 78 :1 St a t e 19 77:111— Pe r c e n t c h a n g e 1 1.5 8 3 .5 0 8 1.78 2 .5 19 2 3 .3 19 2 4 .16 8 2 6 ,6 0 1 2 7.5 74 12 .4 14 .1 12 .6 1 4 .1 Fa r m p e r s o n a l i n c o m e .................... 3 1,2 2 4 3 9 ,4 5 1 29 6 40 7 46 2 697 4 7.9 5 6 .1 No n f a r m p e r s o n a l i n c o m e .......... 2 6 .3 7 1 .2 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 2 3 ,0 2 2 2 3 ,76 1 2 6 ,13 9 2 6 ,8 77 11.9 13 .5 12 .3 13 .1 1.5 8 3 .5 0 8 1.78 2 .5 19 2 3 .3 19 2 4 .16 8 2 6 ,6 0 1 2 7.5 74 12 .4 14 .1 12 .6 1 4 .1 1,0 13 ,2 16 1,14 0 ,6 9 6 15 ,2 16 15 ,74 3 17,4 5 8 17,9 76 12.1 14 .7 12 .6 14 .2 To t a l p e r s o n a l i n c o m e W a g e a n d s a l a r y d i s b u r s e m e n t s ......................... Ot h e r l a b o r i n c o m e ...................................................... 9 6 ,0 16 1 1 1 ,7 1 9 1,5 2 5 1,5 9 4 1,8 2 5 1,8 8 2 17.0 19 .7 16 .4 Pr o p r i e t o r s ' i n c o m e ...................................................... 18 .0 10 5 ,9 5 3 12 5 ,9 9 5 1,6 11 1 ,7 4 7 1,9 75 2 ,2 78 2 1 .5 Fa r m .................................................................................... 2 2 .6 18 .9 3 0 .3 2 3 ,6 3 6 3 1,0 4 4 229 3 40 395 6 28 6 6 .6 72 .3 N o n f a r m .......................................................................... 3 1.3 8 4 .8 8 2 ,3 17 9 4 ,9 5 1 1,3 8 2 1,4 0 8 1,5 8 0 1,6 5 0 1 2 .8 14 .4 15 .3 Di v i d e n d s , i n t e r e s t , a n d r e n t ................................. 1 7 .2 2 14 ,9 9 2 2 4 2 ,4 4 2 2 ,6 9 4 2 ,76 1 2 ,9 6 8 3 ,0 3 9 1 2 .3 Tr a n s f e r p a y m e n t s ........................................................ 10 .2 12 .8 10 .0 2 15 ,9 4 4 2 3 3 ,75 0 3 ,18 3 3 ,2 5 8 3 ,4 5 0 3 ,4 9 9 8 .8 8 .4 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s . 8 .2 11,12 8 7,75 3 18 6 20 6 14 2 13 6 - 2 4 .0 - 2 3 .6 Le s s : p e r s o n a l c o n t r i b u t i o n s ................................. - 3 0 .3 - 3 4 .1 6 2 ,2 12 7 1,6 10 9 21 9 45 1,0 8 5 1 ,1 0 7 14 .8 17.8 Pl u s : r e si d e n c e a d j u s t m e n t .................................... 15 .1 1 7 .2 -4 0 1 -4 73 10 9 9 9 W ag e a n d s a l a r y d i s b u r s e m e n t s .................................................................. 1,0 13 ,2 16 1,14 0 ,6 9 6 15 ,2 16 15 ,74 3 17,4 5 8 17,9 76 12 .1 14 .7 Fa r m ............................................................................................................................ 12 .6 14 .2 7 ,17 6 7,9 3 9 65 67 8 .5 .5 N o n t a r m .................................................................................................................. 66 10 .6 2 .6 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 15 ,15 0 15 ,6 78 17,3 9 3 17,9 0 8 12.1 14 .8 12 .6 14 .2 66 7.4 M i n i n g .................................................................................................................. 14 ,0 4 8 18 ,8 13 1,1 2 7 1,14 6 1,4 2 5 1,4 8 6 2 6 .5 2 6 .4 C o n s t r u c t i o n ............................................................................: ..................... 3 3 .9 2 9 .7 5 5 ,6 4 8 6 6 ,8 5 8 1,4 3 0 1,5 0 3 1,8 0 0 1,8 2 2 19 .1 2 5 .9 M a n u f a c t u r i n g ............................................................................................... 2 0 .1 2 1.2 2 76 ,112 3 12 ,9 70 2 ,76 7 2 ,8 9 7 3 ,14 5 3 ,2 76 13 .7 13 .3 Du r a b l e g o o d s ......................................................................................... 12.1 13 .1 176 ,2 16 2 0 3 ,0 5 3 1,19 5 1,2 8 6 1,3 9 0 1,4 75 13 .7 No n d u r a b l e g o o d s ............................................................................... 16 .3 15 .2 1 4 .7 9 9 ,8 9 6 10 9 ,9 17 1,5 72 1,6 12 1,75 5 1,8 0 1 9 .4 11.6 Pr i v a t e s e r v i c e - t y p e ................................................................................. 10 .0 1 1 .7 4 5 5 ,76 4 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s 5 15 ,3 4 8 7,0 6 5 7,2 9 2 8 ,0 76 8 ,3 3 2 1 2 .8 14 .3 13 .1 14 .3 76 ,5 8 4 8 5 ,2 6 4 1,5 3 5 1,5 3 5 1,72 4 1,74 5 10 .4 12 .3 W h o l e s a l e a n d r e t a i l t r a d e ............................................................ 1 1.3 13 .7 170 ,8 8 8 19 5 ,0 3 5 2 ,76 6 2 ,8 6 9 3 ,170 3 ,2 6 7 13 .6 14 .6 14 .1 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ....................................... 13 .9 5 4 ,4 5 2 6 1,6 5 3 6 73 716 777 79 8 14 .1 15 .3 13 .2 Se r v i c e s ......................................................................................................... 1 1.3 15 3 ,8 4 0 173 ,3 9 6 2 ,0 9 1 2 ,172 2 ,4 0 6 2 ,5 2 2 12 .6 15 .1 12 .7 Go v e r n m e n t ..................................................................................................... 16 .1 2 0 1,2 5 2 2 15 ,0 8 3 2 ,716 2 ,79 4 2 ,8 9 4 2 ,9 4 0 7.4 6 .6 Fe d e r a l ........................................................................................................... 6 .9 5 .2 6 8 ,176 73 ,0 0 3 801 844 891 9 18 7.3 St a t e a n d l oc al ....................................................................................... 1 1 .1 7 .1 8 .8 13 3 ,0 76 14 2 ,0 8 0 1,9 14 1,9 5 0 2 ,0 0 3 2 ,0 2 2 7.5 O t h e r .................................................................................................................... 4 .6 6 .8 3 .7 3 ,2 16 3 ,6 8 5 45 45 52 52 18 .7 15 .8 14 .6 14 .0 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u 2 . Ba s e d o n u n r o u n d e d d a t a . o f Ec o n o m i c An a l y s i s , Reg i o n a l Ec o n o m i c M e a s u r e m e n t Di v i s i o n . T A B LE 3 .“ Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s Lo u i s i a n a U .S . St a t e 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :1V 18 5 .3 H o u s t o n ....................................................................................................................................................... 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e as b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . St a t e 1 9 7 7 :1 V - 19 78 :111 I n d e x , 19 6 7 = 10 0 . n o t s e a s o n a l l y a d i u s t e d U .S . c i t y a ve r a g e 2 1 .................................................................................................................... US. 19 78 :1V Pe r c e n t c h a n g e 7.9 2 0 1.8 8 .9 18 2 .4 18 3 .8 19 7.3 2 0 0 .7 8 .2 9 .2 19 1.6 19 2 .7 2 11.0 2 16 .0 10 .1 12 .1 N O T E.— Un r e vi s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s ar e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . 154 S T A T E Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S L abor F orce F ro m 1977:IV to 1978:IV , L o u is ia n a ’s civilian labor force in c re a se d 3.2 p e rc e n t v ersus 3.1 p e rc e n t n a tio n a lly (ta b le 4). Total employment in cre a se d 3.7 p e rc e n t v e rsu s 3.9 p e rc e n t n a tio n a lly , to 1.5 m illion. W ith e m p lo y m e n t in cre a sin g by 54,000 a n d th e la b o r force inc re a sing by 50,000, th e n u m b e r o f unemployed dec lin ed by 4,000, to 95,000. L o u is ia n a ’s unemployment rate dec line d 0.4 p e rc e n ta g e p o in t, to 5.9 p e rc e n t o f th e la b o r force. T h e n a tio n a l u n e m p lo y m e n t r a te in 1978:1V w as 5.5 p erc e n t, d o w n 0.7 p e rc e n ta g e p o in t from th e 1977:1V level. A m o n g L o u i s i a n a ’s m a j o r m e t r o p o l i t a n a r e a s , p r e li m i n a r y u n e m p lo y m e n t ra te s fo r D e c e m b e r 1978, w hen th e S ta te ’s ra te w as 5.7 p erc e n t, ra n g e d fro m 5.8 p e rc e n t in (>oth L a k e C h a rle s a n d M o n ro e to 5.1 p e rc e n t in S h re v e p o rt. In N e w O rle a n s a n d B a to n R o u g e, th e S ta te ’s large st m e tro p o lita n a re a s, th e u n e m p lo y m e n t ra te s w e re 5.2 a n d 5.6 p erc e n t, respectively. F ro m D e c e m b e r 1977 to D e c e m b e r 1978, th e u n e m p lo y m e n t r a te dec line d 1.4 p e rc e n ta g e p o in ts in L a k e C harles, c o m p a re d w ith a dec line o f 0.5 p e rc e n ta g e p o in t sta tew ide ; L ak e C h a rle s’ dec line w as th e la rge st a m o n g th e S ta te ’s m a jo r m e tro p o lita n a rea s. Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , an d Un e m p l o y m e n t , 19 78 :1V: Lo u i s i a n a Ch a r t 6 .— Un e m p l o y m e n t Ra te s, 1 9 7 7 :I V - 19 7 8 :I V Percent 19 77:1V 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Lo u i s i a n a Un i t e d St a t e s 1 9 7 7 :1 V - 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 7 7 : IV 19 78 :111 19 78 :1V 19 78 :111 19 78 :1V St a t e U .S . St a t e U.S . Pe r c e n t c h a n g e 2 1 Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 1,3 3 2 1,3 5 2 1,3 5 9 1,3 74 4 .3 2 .0 4 .2 1.6 M i n i n g ...................................................................................................................................................................................... 78 7 899 66 66 69 68 8 .2 3 .8 14 .2 3 .2 1.3 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 10 5 10 4 10 7 10 6 10 .4 1.9 11.3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 20 4 20 5 20 5 20 8 3 .1 .3 3 .7 1.3 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , an d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 10 3 10 0 10 6 10 6 3 .8 3 .4 4 .4 5 .7 W h o l e s a l e a n d r e ta i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 322 328 326 331 5 .3 1.3 4 .5 Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 65 66 68 68 4 .8 4 .3 - 2 .0 Se r v i c e s ................................................................................................................................................................................... 15 ,5 3 9 16 ,2 15 22 0 225 23 0 23 2 4 .6 4 .6 4 .4 2 .9 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 24 8 25 8 24 9 25 5 2 .1 .5 1.4 - 1 .1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 1,5 78 1,5 5 9 1,6 2 1 1,6 0 9 3 .2 2 .7 3 .1 4 .1 3 .0 3 .9 - 1 .1 - 8 .8 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,4 6 7 1,4 6 0 1,5 11 1,5 14 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 112 99 110 95 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 7 .1 6 .3 6 .8 5 .9 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e a k i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . - 9 .8 — — — 1 .0 4 .3 3 .2 3 .7 ' - 4 .2 — A p r il 1979 155 Ch a r t 7 .— Ci vi l i a n La b o r Fo r c e I n d e x , 19 72 = 10 0 Ch a r t 8 .— Ci vi l i a n Em p l o y m e n t I n d e x, 19 72 = 10 0 Ch a r t 9 .— Un e m p l o y m e n t Rat e Ch a r t 10 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Lo u i s i an a P ercent M illio n s S TA TE Q U A R T E R L Y E C O N O M IC D E V E L O P M E N T S 156 C o m m er cia l B a n k in g D u e to c ha nges in th e d a ta re p o rtin g p ra c tic e s o f th e F e de ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r this re p o rt to in clu de th e c om m ercial b a n k in g discussion and th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c om m ercial b a n k in g ta b le 5 is show n below . T A B LE 5 .— Co m m e r c i a l B a n k i n g I n d i c a t o r s . Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h 19 78 :1V U.S . Lo u i s i a n a Un i t e d St a t e s 19 77:1V Fo u r t h Qu a r t e r , 19 78 19 77:111 19 7 7:I V 19 78 :111 St a t e St a t e U .S . 1 9 7 7 :1 1 1 - 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e ’ M il lio ns of dol lar s, n ot seasonally a d ju s te d 1 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 8 ,5 9 4 8 ,9 8 1 10 ,2 5 1 n .a . 16 .3 19 .3 — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 2 ,776 2 ,9 19 3 ,13 8 n .a . 14 .2 13 .0 — — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 2 ,3 4 2 2 ,4 6 2 2 ,8 6 1 n .a . 2 0 .2 2 2 .1 — — Real e s t a t e ............................................................................................................................................................................ 177,9 3 5 n .a . 2 ,6 5 4 2 ,78 9 3 ,3 5 2 n .a . 19 .9 2 6 .3 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,0 2 5 1,0 6 8 1,3 4 4 n .a . 2 1.3 3 1.1 — — Fa r m s .................................................................................................................................................................................. 7,73 1 n .a . 15 1 15 6 19 2 n .a . 10 .7 2 7.4 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 1,4 78 1,5 6 5 1,8 15 n .a . 19 .0 2 2 .8 — — Fa r m s , e xc l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 28 2 23 3 309 n .a . 6 .8 9 .9 — — 6 9 ,9 4 7 n .a . 5 40 5 79 592 n .a . 8 .0 9 .7 — — 12 .8 — — — — To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 13 ,6 3 6 14 ,72 5 15 ,3 8 4 n .a . 11.5 D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 5 ,14 4 6 ,0 2 4 5 ,79 4 n .a . 10 .2 12 .6 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 8 ,4 9 2 8 ,70 1 9 ,5 9 0 n .a . 12 .3 12 .9 — 1. De t a i l m a y n o t a i d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . — Construction F ro m 1977:IV to 1978:IV, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts in c re ased 51.2 p e rc e n t ($381.1 m illion), to $1.1 billion (ta b le 6). L o u isia n a ’s p e rc e n t in crease w as th re e tim e s as la rg e as th e N a tio n ’s. In 1978:IV, a $100 m illion c o n tra c t fo r a p e tro le u m p ipeline in C alca sieu P arish, $75 m illion a n d $50 m illion c o n tra c ts for che m ical p la n ts in C alc a sie u a n d St. Ja m e s P arish es, resp ectively, a n d a $50 m illion c o n tra c t for a p etro le u m refinery in St. B e rn a rd P a rish ra ised th e S ta te ’s to ta l v a lu a tio n o f c o n tra c ts to a n u n u s u a lly high level, th ere b y d is to rtin g th e in crease since 1977:IV. I f th e fo u r c o n tra c ts a re exclude d, th e to ta l v a lu a tio n o f c o n tra c ts in L o u isia n a w ou ld have inc re a se d 14.2 p e rce nt. N a tio n a l c o n s tru c tio n co sts in c re a se d a b o u t 13 p e rc e n t d u rin g th e sam e tim e s p a n , a n d if th is incre ase is re p re se n ta tiv e o f th e in crease th ro u g h o u t th e S ta te , th e real incre ase in th e to ta l v a lu a tio n o f c o n tra c ts in L o u isia n a w as a b o u t 38 p e rc e n t (in clu din g th e fo u r c o n tra c ts ) versus a b o u t 4 p e rc e n t n atio n ally . p e rce nt, th e large st in crease in th e N a tio n . N a tio n a lly , n o n re sid e n tia l c o n tra c ts inc re a se d 15.8 p e rc e n t in v a lu a tio n . R eflec ting th e p e tro le u m p ipeline c o n tra c t, th e v a lu a tio n o f n o n b u ild in g c o n tra c ts inc re a se d 68.7 p erc e n t, o n e o f th e large st in cre ases a m o n g all S tates. N a tio n a lly , n o n b u ild in g c o n tra c ts in c re a se d 22.2 p e rc e n t in v a lu a tio n . In c o n tra s t, th e v a lu a tio n o f stre et a n d h ighw a y c o n tra c ts , a m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , dec line d by o n e - th ird in th e S ta te; th e S ta te ’s d ec line w as tw ice th e n a tio n a l decline. C o n tra c ts fo r re side n tia l h ou sek e e p in g a d d itio n s a n d a lte ra tio n s in cre a se d 27.8 p e rc e n t in v a lu a tio n versus 14.6 p e rc e n t n a tio n a lly . In c o n tra s t, re sid e n tia l h o u se k e e p in g c o n tra c ts in c re a se d o n ly 0.6 p e rc e n t in v a lu a tio n v ersus 15.6 p e rc e n t n a tio n a lly . F o rty -fiv e S ta te s re gistere d inc re a se s th a t w ere la rg e r th a n L o u is ia n a ’s. T h e n u m b e r o f dw elling u nits sta rte d dec line d 14.5 p e rc e n t (1,420 u n its), to 8,374 un its. N a tio n a lly , th e n u m b e r o f dw elling u n its s ta rte d w as a lm o s t u n c h a n g e d a t a high level. R eflec ting th e c o n tra c ts fo r th e tw o c he m ic al p la n ts a n d th e p etro le u m refin ery, th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts inc re a se d 154.6 Ch a r t 15 .— Co n s t r u c t i o n Co n t r a c t s — Va l u a t i o n o f Co n t r a c t s b y Ty p e : Ch a r t 14 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a ti o n I n d e x , 19 7 6 = 1 0 0 Ch a r t Pe r c e n t 1 6 — Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s an d Nu m b e r o f Dw e l l i n g Un i t s St a r t e d , Pe r c en t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Lo u i s i a n a Un i t e d St a t e s St a t e U.S . U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V To t a l va l u a t i o n o f c o n t r a c t s .............................................................................................................. 19 78 :1V 19 78 :111 Pe r c e n No t s e a s o n a l l y a d j u s t e d St a t e 19 7 7:1V — 19 77:111— c hange’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 8 0 8 ,13 6 74 4 ,9 79 2 ,111,0 9 4 1,12 6 ,12 7 14 .5 16 1.2 16 .0 5 1.2 7,70 7,9 8 7 8 ,8 3 2 ,3 5 3 13 3 ,0 73 116 ,4 2 2 16 0 ,0 18 14 8 ,78 1 16 .8 2 0 .2 14 .6 2 7.8 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,3 4 6 1,2 5 7 1,3 0 4 1,2 6 8 4 .4 - 3 .1 - 9 .3 .9 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 6 75 ,0 6 3 6 2 8 ,5 5 7 1,9 5 1,0 76 9 77,3 4 6 14 .0 18 9 .0 1 7 .4 5 5 .5 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 18 ,4 6 1 17 ,7 4 2 2 0 ,6 8 4 18 ,8 76 10 .8 12 .0 10 .2 6 .4 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 29 7 2 79 247 242 - 5 .1 - 1 6 .8 - 4 .3 - 1 3 .3 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 9 ,9 3 9 9 ,79 4 9 ,9 6 7 8 ,3 74 1.0 .3 - .6 - 1 4 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17 ,19 8 ,5 18 3 16 ,8 11 3 15 ,4 8 1 3 6 6 ,3 6 3 3 17,2 73 15 .3 15 .6 15 .6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 13 ,3 4 2 13 ,4 3 0 14 ,70 4 12 ,6 3 2 10 .3 10 .2 10 .7 - 1 0 .0 .6 - 5 .9 Re s i d e n t i a l n o n h o u s e k e e p i n g : 50 7 505 16 13 12 11 - 2 5 .0 - .4 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 10 ,13 8 3 ,79 8 5 ,712 10 ,8 0 1 9 .4 - 4 3 .7 4 4 .8 18 4 .4 Fl o o r ar ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 231 84 14 9 26 6 - .7 - 3 5 .6 2 4 .7 2 17 .4 Nu m b e r o f c o n t r a c t s ........................................................................................................................................ ' - 1 5 .4 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 597 5 48 5 70 56 7 - 2 .5 - 1 2 .0 3 .5 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 19 6 ,8 4 8 14 8 ,4 4 7 9 8 1,5 6 5 3 77,9 4 3 2 7.6 3 9 8 .6 - 4 .5 15 .8 15 4 .6 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 4 ,8 8 8 4 ,2 2 8 5 ,8 3 2 5 ,9 78 12 .2 19 .3 8 .9 4 1.4 2 2 .4 8 .9 - 9 .1 7.4 2 9 5 .0 2 2 .2 6 8 .7 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 43 6 4 17 4 75 448 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ........................... ................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 15 1,2 6 6 16 0 ,8 3 1 5 9 7,4 3 6 2 71,3 2 9 - .1 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 14 8 179 12 0 12 9 9 .3 - 1 8 .9 - 1 7 .8 - 2 7 .9 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 8 1,18 9 10 2 ,0 3 5 4 8 ,76 7 6 8 ,3 5 2 3 .0 - 3 9 .9 - 1 6 .3 - 3 3 .0 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h a n g e s f o r f l o o r ar e a b a se d o n u n r o u n d e d N O T E.— De t a i l f o r f l o o r ar ea d a ta m a y n o t a d d t o t o t a l s b e c a u se o f data. ro unding. R e ta il S a le s R e ta il sales in L o u is ia n a to ta le d $3.4 b illio n in 1978:IV, u p only 5.9 p e rc e n t ($189 m illio n ) since 1977:IV, c o m p a re d w ith a n 11.2-perc ent n a tio n a l in c re a se (ta b le 7). In 1978:IV , n o n d u ra b le g o o d s a c c o u n te d for $2.2 b illio n, a n d d u ra b le g o o d s a c c o u n te d fo r $1.2 billion. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Lo u i s i a n a Un i t e d St a t e s U .S . St a t e ,s St a t e 19 7 7:1V — 19 77:111— 19 77:1V 19 78 :1V 19 77:111 Millions o Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 19 77:1V 19 78 :111 19 78 :1V n .a . 3 ,2 0 7 Pe r c e n t c h an ge 3 ,2 4 7 3 ,3 9 6 10 .3 — 1 1.2 15 .3 — 9 .2 — Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . 1,2 4 6 1,2 16 11.8 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7 ,4 4 7 n .a . n .a . 2 ,0 0 1 2 ,18 0 9 .6 — n .a .: Da t a n o t a v a i l a b l e . 19 78 :1V 19 78 :111 do ll ars , n o t seaso nally adjus ted 5 .9 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d Lo u i s i a n a Th r o u g h Fo u r t h Qu a r t e r , 19 78 Lo u i s i a n a Un i t e d St a t e s St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V St a t e US. 19 7/ :1V — 19 / / I I I - 19 ' 8 :1V 19 78 :111 Pe r c e n t c h an ge No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................ 10 9 ,4 11 n .a . 2 ,17 5 1,9 2 2 3 ,0 13 n .a . 3 8 .5 — To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 13 9 20 n .a . - 9 .5 5 3 .8 — — Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 2 ,10 4 1 ,4 7 4 4 ,9 8 7 n .a . - 4 4 .2 13 7.0 — — Av e r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 16 2 16 4 249 n .a . - 3 8 .4 5 3 .7 — — M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 1 0 2 n .a . - 1 0 .1 10 0 .0 — — C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 3 3 6 n .a . 1.0 10 0 .0 — — 8 .2 — Bu s i n e s s fa i l u r e s b y i n d u s t r y W h o l e s a l e t r a d e ................................................................................................................................................................. Re t a i l t r a d e ........................................................................................................................................................................... Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 19 1 688 23 8 n .a . n .a . n .a . 1 7 1 3 3 0 0 11 1 n .a . n .a . n .a . - 2 7 .1 - 4 .2 - 2 4 .0 — — — .0 — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . — 5 7.1 — N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 159 1979 Personal income — U p 11.9%, 0.7 p e rc e n ta g e p o in t less th a n in U .S. — F a rm in c om e dow n — N o n fa rm in c o m e up 12.2%, a b o u t th e sa m e a s in U .S. Consumer prices — Up 7.5% in B o sto n vs. 8.9% in U .S. Em ploym ent — U p 3.1% vs. 3.9% in U .S ., to 447,000 Unemployment — D ow n 9,000, to 26,000 — R a te d o w n to 5.4% o f la b o r fo rce vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 5.3% vs. 16.8% in U .S., to $182 m illion — N e a rly all m a jo r c o n s tru c tio n c a te go rie s in S ta te w eak — N u m b e r o f d w e llin g-u nit sta rts d ow n 7.7% vs. little c h a n g e in U .S ., to 1,713 T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 Mai ne Un i t e d St a t e s U .S . St a t e 1 9 7 7 :I V 1 9 7 8 :1 V 1 9 7 7 :1 1 1 1 9 7 7 :1 V 1 9 7 8 :1 V 1 9 7 8 :1 1 1 1 9 7 7 :1 V 1 9 7 8 :1 V 1 9 7 8 :1 1 1 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e U .S . 1 9 7 7 :1 1 1 — Pe r c e n t c h an ge To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ................................................................................................ 1 ,5 8 3 ,5 0 8 1 ,7 8 2 ,5 1 9 6 ,2 8 9 6 ,4 3 3 6 ,9 8 3 7 ,1 9 8 1 2 .4 1 1 .0 1 2 .6 1 1 .9 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1 ,0 1 3 ,2 1 6 1 ,1 4 0 ,6 9 6 3 ,7 6 1 3 ,8 7 0 4 ,2 0 1 4 ,3 8 3 1 2 .1 1 1 .7 1 2 .6 1 3 .3 Ci vi l i a n e m p l o y m e n t ( t h o u s a n d s ) ....................................................................................................................... 9 2 ,4 4 2 9 6 ,0 1 0 4 5 1 4 3 4 46 3 4 4 7 4 .1 2 .6 3 .9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,1 4 9 5 ,6 0 5 3 7 35 2 7 26 Pe r c e n t u n e m p l o y e d (u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) ........................................................................................................................... 6 1 0 ,5 0 2 5 .5 n .a . - 9 .8 — - 2 7 .0 — 7 .6 7 .4 5 .5 5 .4 1 ,6 7 2 1 ,7 2 9 1 ,8 6 1 n .a . 1 6 .3 n .a . 1 1 .3 - 8 .8 — — — — — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 1 1 2 ,4 2 1 2 ,3 9 1 2 ,6 1 8 1 1 .5 8 .2 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 1 3 ,1 1 1 4 5 ,4 5 9 ,7 7 3 1 8 0 ,5 0 3 1 7 2 ,9 4 1 2 3 0 ,0 3 0 1 8 2 ,0 3 8 1 4 .5 2 7 .4 1 6 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ......................................................................................................................... 4 4 5 ,7 7 2 4 4 3 ,0 7 5 1 ,8 9 1 1 ,8 5 6 2 ,2 2 6 1 ,7 1 3 1 .0 1 7 .7 - .6 To t a l r e ta i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 1 9 7 ,0 3 0 2 1 9 ,0 2 0 n .a . n .a . n .a . n .a . 1 0 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 1 0 9 ,4 1 1 n .a . 3 5 4 4 3 4 43 9 n .a . 8 .2 Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1 ,6 8 4 n .a . 0 0 0 n .a . 1 8 5 .0 1 8 5 .3 1 9 4 .2 n .a . - 9 .5 — 1 1 .2 2 4 .0 — 3 .1 - 2 5 .5 5 .3 - 7 .7 — — — — — Co n s u m e r Pr i c e I n d e x ( 19 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... B o s t o n ......................................................................................................................................................................... n .a .: Da t a n o t a v a i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h I 1 8 5 .3 — _ _ _ 2 0 1 .8 — 1 9 9 .2 7 .9 — _ _ _ 5 .0 8 .9 — _ _ _ 7 .5 160 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e T o ta l p ersonal incom e (se aso na lly a d ju s te d a t a n n u a l ra te s) inc re a se d 11.9 p e rc e n t from 1977:IV to 1978:1V, 0.7 p e rc e n ta g e p o in t less th a n n a tio n a lly (ta b le 2). In 1978:1V, M a in e ’s to ta l p e rso n a l in co m e w as $7.2 b illion, for an in cre ase o f $0.8 b illio n since 1977:IV. N o n fa rm incom e in c re a se d 12.2 p e rc e n t, a b o u t th e sam e as n atio n ally . F a rm in co m e dec line d 10.3 p e rc e n t in th e S ta te, in sh a rp c o n tra s t w ith a n in cre a se o f 26.3 p e rc e n t in th e N a tio n . A s in m o st o th e r N e w E n g la n d S tates, M a in e ’s in creases in b o th to ta l a n d n o n fa rm in co m e w ere fairly close to th e n a tio n a l av erage. Since th e la st n a tio n a l bu sin ess cycle p ea k (1973:1 V), M a in e ’s e c o no m ic g ro w th has been close to the n a tio n a l average; th e in crease in n o n fa rm in co m e w as 1 p e rc e n t m o re th a n n a tio n a lly , ra n k in g M a in e 31st am o ng all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 19 7 8 :I V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t C onsum er prices in B o sto n, th e m e tro p o lita n a re a closest to M a in e for w hich price d a ta a re a v a ila ble, inc re a se d 7.5 p erc e n t from 1977:IV to 1978:IV versus a n a tio n a l in cre ase o f 8.9 p e rc e n t (ta b le 3). I f B o s to n ’s index is used as an in d ic a to r fo r p rice m o v em en ts in th e S ta te , real to ta l p e rso n a l in co m e in M a in e increased 4.4 p erc e n t from y ea r to y e a r versus 3.7 p e rc e n t n a tio n a lly . W a ge and sa lary disbursem ents (pa yrolls) inc re a se d 13.3 p e rc e n t in M a in e versus 12.6 p e rc e n t in th e N a tio n . In 1978:1 V, p a y ro lls to ta le d $4.4 billion, up $0.5 b illio n since 1977:IV. M a n u f a c tu rin g p a yro lls in c re ased 15.6 p e rc e n t in M a in e versus 13.3 p e rc e n t in th e N a tio n . S tren gth was c o n c e n tra te d in n o n d u ra b le g oo d s m a n u fa c tu rin g , up 16.2 p e rc e n t versus 10.0 p e rc e n t n a tio n a lly . M a in e ’s in cre ase ra n k e d 6th a m o ng all S tates. T his in crease w as p a rtic u la rly im p o rta n t, bec ause n o n d u ra b le g o od s p a y ro lls a c c o u n te d fo r 11.6 p e rc e n t o f M a in e ’s to ta l in c o m e in 1978:IV versus only 6.2 p erc e n t n a tio n a lly . D u ra b le g oo ds p ay ro lls inc re a se d so m e w h a t m o re slow ly in M a in e th a n in th e N a tio n . M a in e ’s in crease in tra d e w as 18.8 p e rc e n t versus 14.1 p erc e n t n a tio n a l ly. F e d e ra l p ay ro lls inc re a se d 15.2 p e rce nt, m o re th a n tw ice th e incre ase registered in th e N a tio n . In c o n tra st, th e in crease in tra n s p o r ta tio n c o m m u n ic a tio n -p u b lic u tilities w as 5.1 p e rc e n t versus 11.3 p erc e n t n atio n a lly . S im ilarly, p a y ro lls in c o n stru c tio n w ere u p 12.2 p e rc e n t in M a in e a n d 20.1 p e rc e n t in th e N a tio n . S ta te u n e m p lo y m e n t in su ra n c e b en efits in M a in e dec line d 39.9 p erc e n t versus a dec line o f 30.3 p e rc e n t in th e N a tio n ; o nly n in e S tates h a d la rg e r declines. Ch a r t 2 .— Co s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 19 7 8 :I V Pe r c e n t □ U n i t e d St a t e s Bosto n To t a l Pe r s o n a l M an u fac tu rin g Pr i v a t e Go v e r n m e n t In c om e W a g e s a n d Sa l a r i e s Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r so n al I n c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f Wages a n d Sa l a r i e s : M a i n e [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] Ind e x, 1 9 7 2 = 100 T A B LE 2 - P e r s o n a l I n c o m e , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s I 9 7 7 :I V 19 78 :1V Mai ne 19 77:111 19 77:1V 19 78 :1 US. St a t e St a t e 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V M i l l i o n s of d o l l ar s , season al l y ad j u s te d at an n u al r ate s' To t a l p e r s o n a l I n c o m e U .S . 19 77:111— Pe r c e n t c h a n g e 2 1.5 8 3 .5 0 8 1.78 2 .5 19 6 .2 8 9 6 .4 3 3 6 .9 8 3 7.19 8 12 .4 11.0 12 .6 11.9 Fa r m p e r s o n al i n c o m e .................... 3 1,2 2 4 3 9 ,4 5 1 96 84 99 75 No n f a r m p e r s o n a l i n c o m e .......... 4 7.9 3 .6 2 6 .3 - 1 0 .3 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 6 ,19 3 6 ,3 4 9 6 ,8 8 3 7,12 3 11.9 11.2 12 .3 1.5 8 3 .5 0 8 1.78 2 .5 19 6 .2 8 9 6 .4 3 3 6 .9 8 3 7.19 8 12 .4 11.0 12 .6 11.9 1,0 13 ,2 16 1,14 0 ,6 9 6 3 ,76 1 3 ,8 70 4 ,2 0 1 4 ,3 8 3 Ot h e r l a b o r i n c o m e ....................................................... 12.1 1 1 .7 12 .6 13 .3 9 6 ,0 16 1 1 1 ,7 1 9 362 3 77 4 19 Pr o p r i e t o r s ’ i n c o m e ...................................................... 43 6 1 7 .0 1 5 .7 16 .4 15 .9 10 5 ,9 5 3 12 5 ,9 9 5 458 45 4 507 Fa r m .................................................................................... 495 2 1.5 10 .6 18 .9 8 .9 2 3 ,6 3 6 3 1,0 4 4 59 45 59 33 6 6 .6 - .2 3 1.3 - 2 7 .2 To t a l p e r s o n a l I n c o m e W ag e a n d s a l a r y d i s b u r s e m e n t s ......................... N o n f a r m .......................................................................... 12 .2 8 2 ,3 17 9 4 ,9 5 1 39 9 40 9 448 46 2 Di v i d e n d s , i n t e r e s t , a n d r e n t ................................. 12 .8 12 .1 15 .3 12 .9 2 14 ,9 9 2 2 4 2 ,4 4 2 8 35 854 933 9 59 Tr a n s f e r p a y m e n t s ......................................................... 12 .3 1 1 .7 12 .8 12 .3 2 15 ,9 4 4 2 3 3 ,75 0 1,13 6 1,14 5 1 ,2 1 7 1,2 2 9 St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s . 8.8 7.1 8.2 11,12 8 7,75 3 82 71 51 43 Le s s : p e r s o n al c o n t r i b u t i o n s ................................. - 2 4 .0 — 3 8 .2 - 3 0 .3 6 2 ,2 12 7 1,6 10 2 77 Pl u s : r e si d e n c e a d j u s t m e n t .................................... 14 .8 12 .9 15 .1 15 .1 -4 0 1 -4 73 W a g e a n d s a l a r y d i s b u r s e m e n t s .................................................................. 1,0 13 ,2 16 Fa r m ............................................................................................................................. 13 .3 7 ,17 6 N o n f a r m ................................................................................................................... 1,0 0 6 ,0 4 0 23 9 241 26 9 7.3 - 3 9 .9 -2 5 -2 6 -2 5 -2 7 1,14 0 ,6 9 6 3 ,76 1 3 ,8 70 4 ,2 0 1 4 ,3 8 3 12.1 1 1 .7 12 .6 7,9 3 9 33 35 36 38 8 .5 9 .4 10 .6 9 .4 1,13 2 ,7 5 7 3 ,72 7 3 ,8 3 5 4 ,16 5 4 ,3 4 5 12 .1 1 1 .7 12 .6 13 .3 - 3 5 .5 M i n i n g ................................................................................................................... 14 ,0 4 8 18 ,8 13 3 2 C o n s t r u c t i o n ................................................................................................... 2 2 6 .5 3 3 .9 - 2 3 .7 5 5 ,6 4 8 6 6 ,8 5 8 19 7 19 9 226 M a n u f a c t u r i n g ................................................................................................ 223 19 .1 1 4 .7 2 0 .1 12 .2 2 7 6 ,112 3 12 ,9 70 1 ,1 1 4 1,12 3 1,2 2 7 1,2 9 8 Du r a b l e g o o d s .......................................................................................... 12 .1 10.2 13 .3 15 .6 176 ,2 16 2 0 3 ,0 5 3 384 40 2 445 No n d u r a b l e g o o d s ................................................................................ 460 13 .7 15 .8 15 .2 14 .5 9 9 ,8 9 6 10 9 ,9 17 73 0 72 2 78 3 838 Pr i v a t e s e r v i c e - t y p e .................................................................................. 9 .4 7.3 10 .0 16 .2 4 5 5 ,76 4 5 15 ,3 4 8 1,5 76 1 ,6 1 7 1 ,7 7 3 1,8 3 5 12 .8 12 .5 13 .1 13 .5 76 ,5 8 4 8 5 ,2 6 4 245 25 3 26 2 26 6 10 .4 170 ,8 8 8 19 5 ,0 3 5 634 6 41 74 1 76 2 13 .6 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s W h o l e s a l e a n d r e t a i l t r a d e ............................................................ Fi n a n c e , i n s u r a n c e ,a n d r eal e s t a t e ....................................... 2 6.8 11.3 5 .1 16 .9 14 .1 18 .8 5 4 ,4 5 2 6 1,6 5 3 16 1 16 1 173 18 0 14 .1 Se r v i c e s ......................................................................................................... 7.8 13 .2 11.4 15 3 ,8 4 0 173 ,3 9 6 536 562 597 6 27 Go v e r n m e n t ..................................................................................................... 12 .6 11.5 12 .7 1 1 .7 2 0 1,2 5 2 2 15 ,0 8 3 8 25 8 79 9 21 9 71 Fe d e r a l ........................................................................................................... 7 .4 11.6 6 .9 10 .5 6 8 ,176 73 ,0 0 3 3 45 3 72 394 429 St a t e a n d l o c a l ........................................................................................ 7.3 14 .2 7.1 15 .2 13 3 ,0 76 14 2 ,0 8 0 48 0 507 526 O t h e r ..................................................................................................................... 5 42 7.5 9 .7 6 .8 7.0 3 ,2 16 3 ,6 8 5 14 14 16 16 18 .7 18 .9 14 .6 13 .5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . / n a s p fl n n iin r n n n n p n So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t n a ta n :. T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 U n i ted St a t e s Mai ne U .S . St a t e U .S . 19 77 :l l l — 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 I n d e x , 1 9 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d 18 5 .3 --------------------------------------------------------------------------. . . ... -------- — --------------------------------- - 1 . Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A ( s ) f o r w h i c h d a ta a r e a v a i l a b l e . 2 . Ave r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b ase d o n t h e 19 70 Ce n s u s o f Po p u l a t i o n . So u r c e : U .S . De p a r t m e n t o f La b o r , B u r e a u o f La b o r St a t i s t i c s . 8 :111 c h an g e 7.9 18 5 .0 --------- 18W 5W .3 .W 19 T4 .« .2. W X «. 19* *9. .2 N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 7:1V — 1 9 78 :1V Per c e n 2 0 1.8 St a t e 19 8 .9 J.W 5 .0 | ------------ / .J 7.5 an d revis ed data are used f o r t he s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xe r c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e 162 S TA TE Q U A R T E R L Y E C O N O M IC DEVELO PM EN TS L abor F orce F ro m 1977:1 V to 1978:1V, th e civilian labor force inc re a se d 1.0 p e rc e n t in M a in e , 2.1 p e rc e n ta g e p o in ts less th a n in th e N a tio n (ta b le 4). T he in c re a se in M a in e ra n k e d 4 5 th a m o n g th e S tates. Total employment in c re a se d 3.1 p erc e n t, lagging th e n a tio n a l ave rag e in cre ase by 0.8 p e rc e n ta g e p o in t, to 447,000. th e S ta te versus a decline in th e N a tio n o f o nly 0.7 p e rc e n ta g e p o in t. O n ly tw o o th e r S ta tes h a d declines th a t w ere as sh a rp o r sh arp er: R h o d e Isla nd , o ff 2.0 p e rc e n tag e p oin ts, a n d N e v a d a , o ff 2.3 p e rc e n ta g e p oin ts. A ll N e w E n g la n d S ta tes except C o n n e c tic u t h a d s h a rp declines in u n e m p lo y m e n t rates. W ith th e la b o r fo rce in c re a sin g 4,000 a n d e m p lo y m e n t inc re a sing 13,000, unemployment de c line d 9,000, to 26,000. In 1978:IV, th e unemployment rate in M a in e w as 5.4 p erc e n t, a b o u t th e sam e as n a tio n a lly . In 1977:IV, it h a d bee n w ell a b o v e th e n a tio n a l ra te . F ro m y e a r to y ea r, th e u n e m p lo y m e n t ra te dec lin ed 2.0 p e rc e n ta g e p o in ts in In D e c e m b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in th e S ta te w as 6.0 p erc e n t, dow n 1.8 p e rc en tag e p o in ts from th e D e c e m b e r 1977 ra te . T h e D e c e m b e r 1978 u n e m p lo y m e n t ra te in L ew isto n -A u b u rn w as 4.9 p erc e n t, d ow n 2.4 p e rc e n ta g e p o in ts, a n d th e ra te in P o rtla n d w as 4.7 p e rce nt, d ow n 1.8 p e rc e n ta g e p oin ts. Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : M a i n e Ch a r t 6 .— Un e m p l o y m e n t Ra t e s , 1 9 7 7 :I V - 19 7 8 :I V Th o u s a n d s Pe r c e n t La b o r Fo r c e Em p l o y m e n t Un e m p l o y m e n t T A B LE 4 — La b o r Fo r c e , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s 19 77:1V 19 78 :1V Maine 19 77:111 19 77:1V 19 78 :111 U .S . 19 78 :1V St a t e U.S . St a t e 19 7 7 :1 1 1 - 1 9 7 7 :1 V - 19 78 :111 19 78 :1V Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Pe r c e n t c h an g e1 2 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 401 39 5 4 13 40 8 M i n i n g a n d s e r v i c e s ....................................................................................................................................................... 16 ,3 2 6 1 7 ,1 1 4 74 66 75 69 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 24 21 23 21 2 .9 4 .3 _______ 1.5 10 .4 4 .2 3 .2 _______ - 4 .2 4 .1 11.3 - 3 .3 3 .8 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 10 7 10 9 110 113 3 .1 2 .9 3 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 19 18 18 18 3 .8 - 1 .1 4 .4 .0 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 89 85 94 90 5 .3 5 .4 4 .5 5 .2 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 15 15 16 16 4 .8 1.9 - 2 .0 3 .3 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 73 81 77 82 2 .1 4 .8 1.4 2 .0 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 8 ,5 9 1 10 1,6 15 48 8 46 9 48 9 4 73 3 .2 .4 3 .1 1.0 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 45 1 434 46 3 447 4 .1 2 .6 3 .9 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a ta a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t es a b r e a k i n t h e s e r i e s , a n d u s e r s ar e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . . 37 35 27 26 7.6 7.4 5 .5 5 .4 - 9 .8 — - 8 .8 - 2 7 .0 — — 3 .1 - 2 5 .5 — A p r il 163 1979 Ch a r t 7 .— Ci vi l i a n La b o r Fo r c e I n d e x, 19 72 = 10 0 In d e x, 19 72 = 10 0 Ch a r t 9 — Un e m p l o y m e n t Rat e Pe r c e n t Ch a r t 8 .— Ci vi l i a n Em p l o y m e n t Ch a r t 10 .— In d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : M a i n e Th o u s a n d s 164 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS C o m m er cia l B a n k in g D u e to c ha n ge s in th e d a ta re p o rtin g p ra c tic e s o f th e F e de ra l D e p o s it In su ra n c e C o rp o ra tio n , th e c om m erc ia l b an k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu de th e c o m m erc ia l b a n k in g d iscu ssio n a n d th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . 1 T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 Mai ne Un i t e d St a t e s 19 7 7:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 US. St a t e U.S . St a t e 1 9 7 7 :1 1 1 - 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e ’ M il li o n s o f do ll ar s , n o t season al ly ad ju s te d ' To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 1,6 72 1,72 9 1,6 6 1 n .a . 16 .3 11 .3 — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 49 7 5 11 554 n .a . 14 .2 11.3 — — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 49 2 503 544 n .a . 2 0 .2 10 .5 — — — — Rea l e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 633 6 70 72 7 n .a . 19 .9 14 .8 — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 305 321 350 n .a . 2 1.3 14 .6 — — Fa r m s .................................................................................................................................................................................. 7 ,7 3 1 n .a . 7 7 7 n .a . 10 .7 - 2 .0 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 321 3 42 3 70 n .a . 19 .0 15 .3 Fa r m s , e x c l u d i n g r e al e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 17 19 14 n .a . 6 .8 — 16 .5 — — — — — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 31 27 22 n .a . 8 .0 - 2 9 .7 To t a l d e p o s i t s ............................................................................................................................................... 9 2 5 ,5 11 n .a . 2 ,4 2 1 2 ,3 9 1 2 ,6 18 n .a . 1 1.5 8 .2 — — De m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 777 78 8 79 0 n .a . 10 .2 1.7 — — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 1,6 4 4 1,6 0 4 1,8 2 8 n .a . 12 .3 1 1.2 — — 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 165 C o n str u c tio n F ro m 1977:IV to 1978:IV , th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 5.3 p e rc e n t in M a in e versus 16.8 p e rc e n t in th e N a tio n (tab le 6). M a in e ’s in cre a se ra n k e d 35th a m o n g th e S ta tes. In 1978:IV, c o n tra c ts in th e S ta te to ta le d $182 m illion, for a n in cre ase o v e r th e y ear o f $9 m illion. N e a rly all m a jo r c o n stru c tio n c a te g o rie s w e re w eak. increased 9.6 p e rc e n t versus 15.6 p e rc e n t in th e N a tio n . T h e n u m b e r o f dw e lling u n its s ta rte d dec line d 7.7 p e rc e n t, o r 143 u n its , to 1,713 u n its. N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w as virtu ally u n c h a n g e d a t a high level. N a tio n a l c o n s tru c tio n co sts inc re a se d a b o u t 13 p e rce nt; if th is incre ase is re p re se n ta tiv e o f c o st c ha n ge s in M a in e , th e real v a lu a tio n o f c o n stru c tio n c o n tra c ts in th e S ta te de c line d a b o u t 8 p e rc e n t versus a n a tio n a l in cre a se o f a b o u t 4 p ercen t. T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts dec line d 30.2 p e rc e n t in M a in e versus an in crease o f 22.2 p e rc e n t in th e N a tio n . P a rtly a c c o u n tin g fo r M a in e ’s decline w a s a dec line o f 12.6 p e rc e n t in th e v a lu a tio n o f stre et a n d high w ay c o n tra c ts . T h e v a lu a tio n o f stre e t a n d h ig hw ay c o n tra c ts dec line d 16.3 p e rc e n t in th e N a tio n . C o n tra c ts fo r a d d itio n s a n d a lte r a tio n s to re sid e n tia l h o u sek e ep in g u n its dec line d sligh tly in v a lu a tio n in th e S ta te, in s h a rp c o n tra s t w ith an in crease o f 14.6 p e r c e n t in th e N a tio n . M a in e w a s o n e o f only five S tates w ith a decline. T h e v a lu a tio n o f re side n tia l h o u se k e e p in g c o n tra c ts T h e v a lu a tio n a n incre ase o f increases. T h e gory in w hich Ch a r t I n d e x , 19 76 = 10 0 14 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n Ch a r t o f n o n re sid e n tia l c o n tra c ts in c re a se d 4 0.2 p e rc e n t versus 15.8 p e rc e n t in th e N a tio n . O n ly e ig h t S ta tes h a d larg e r n o n re s id e n tia l c a te go ry w as th e o nly c o n s tru c tio n c a te M a in e ’s in cre ase w as larg e r th a n th e N a tio n ’s. 15 .— Co n s t r u c t i o n Co n t r a c t s — Va l u a t i o n of Co n t r a c t s b y Ty p e : M a i n e M illion s Ch a r t 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n of Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s St a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 i :I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r . 19 78 1 Un i t e d St a t e s Main e U .S . St a t e U .S . 19 77:111 — 19 77:1V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s ............................................................................................................... Re s i d e n t i a l St a t e 1 9 7 7 :1 V 19 78 : I V Pe r c e n t c h an g e’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 18 0 ,5 0 3 172 ,9 4 1 2 3 0 ,0 3 0 18 2 ,0 3 8 14 .5 2 7.4 16 .8 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 6 6 ,6 0 0 5 5 ,3 3 4 7 1 ,9 1 1 5 5 ,0 70 16 .8 8 .0 14 .6 5 .3 h ou s ek eep in g, ad di ti on s an d al ter ation s: Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. - .5 , Al l o t h e r c o n t r a c t s : Nu m b e r of c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 25 4 241 36 8 243 4 .4 4 4 .9 - 9 .3 .8 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 113 ,9 0 3 117 ,6 0 7 15 8 ,119 12 6 ,9 6 8 14 .0 3 8 .8 17.4 8 .0 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 3 ,770 3 ,3 2 8 4 ,6 78 3 ,9 72 10 .8 2 4 .1 10 .2 19 .3 Re s i d e n t i a l h o u s e k e e p i n g : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 66 66 71 64 - 5 .1 7.6 - 4 .3 - 3 .0 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 1,8 9 1 1,8 5 6 2 ,2 2 6 1 ,7 1 3 1.0 1 7 .7 - .6 - 7 .7 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 6 8 ,6 5 4 6 7,8 8 7 9 2 ,9 74 74 ,4 2 3 15 .3 3 5 .4 15 .6 9 .6 Fl o o r a r e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 2 ,79 2 2 ,6 8 2 3 ,6 5 1 2 ,9 0 3 10 .3 3 0 .7 10 .7 8 .2 1 - 1 0 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 2 1 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 55 9 24 Fl o o r a r ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 1 1 1,0 0 0 20 34 42 - 5 0 .0 *** 9 .4 - .4 .0 4 4 .8 *** - 9 6 .3 _____ 0 - .7 2 4 .7 118 10 0 - 2 .5 2 9 .7 - 1 2 .0 2 5 .0 2 5 ,9 0 7 3 6 ,75 5 2 7.6 16 .3 15 .8 4 0 .2 1,0 6 9 12 .2 .9 8 .9 70 .7 2 2 .4 8 7.4 - 9 .1 - 1 7 .0 - .1 6 6 .8 2 2 .2 - 3 0 .2 No n r e s i d e n t i a l : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 91 80 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 2 2 ,2 72 2 6 ,2 0 7 Fl o o r a r ea ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 9 77 626 9 86 No n b u i l d i n g : N u m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 95 94 178 78 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 2 2 ,9 2 2 2 2 ,5 8 9 3 8 ,2 3 8 15 ,75 6 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 33 21 55 21 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 12 ,14 6 6 ,4 15 11,2 0 8 5 ,6 0 5 3 .0 6 6 .7 • ‘ • Pe r c e n t c h a n g e g r e a t e r t h a n 9 9 9 .9 . So u r c e : F . W . Do d g e Di v i s i o n , M c Gr a w -Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 1 . Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . N O T E.— De t a i l f o r f l o o r a r ea d a t a m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . - 1 7 .8 .0 - 7 .7 - 1 6 .3 - 1 2 .6 St a t e U .S . St a t e 2 . Pe r c e n t c h an g es f o r f l o o r a r e a b a s e d o n u n r o u n d e d d a t a . R e ta il S a le s R e ta il sales d a ta fo r M a in e a re n o t a va ilab le . T A B LE 7 — Re t a i l Sa l e s , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Maine U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 :I V 19 78 :111 M il li o n s of do ll ar s , n ot seasonally adjus ted Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . n .i . 6 2 ,0 6 5 71,5 7 3 n .a . n .a . n .a . No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . n .a . n o t a va i l a b l e . . - v r r :7 r r ::- :r ::-:■■■■ n .a . 10 .3 — 1 1.2 — n .a . 11.8 — 15 .3 _ _ __ _ __ _ n .a . 9 .6 — 9 .2 n .a . — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .- B u s i n e s s m i .' 19 78 :1V Pe r c e n t c h an ge Du r a b l e g o o d s ............................................................................................................................................................. n .a .: Da t a 19 7 7:1V — .......- , , I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d M a i n e Th r o u g h Fo u r t h Qu a r t e r , 19 78 ................ Un i t e d St a t e s Mai ne U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e 19 77 I V 19 ) 8 : I V Pe r c e n t c h an ge Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .i . 35 4 43 4 43 9 n .a . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 0 0 0 n .a . - 9 .5 Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 0 0 0 n .a . - 4 4 .2 Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 0 0 0 n .a . - 3 8 .4 — — — — — _____ _____ _____ — — — 8 .2 2 4 .0 Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 0 0 0 n .a . - 1 0 .1 — — _____ C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 0 0 0 n .a . 1.0 — — — W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 0 0 0 n .a . - 2 7 .1 — — — Ret a i l t r a d e ........................................................................................................................................................................... 688 n .a . 0 0 0 n .a . - 4 .2 — — — Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 0 0 0 n .a . - 2 4 .0 — — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & B r a d s t r e e t , I n c . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 1979 167 H ig h lig h ts 1977 :IV to 1978 :IV Personal income — U p 10.4% vs. 12.6% in U .S., to $35.9 billion — P riv a te service-type p a y ro lls u p 10.7% vs. 13.1% in U .S . — F e d e ra l G o v e rn m e n t payrolls up 5.6% vs. 7.1% in U .S. Consumer prices — U p 6.4% in B a ltim o re a n d 9.1% in W a sh in g to n , D .C . vs. 8.9% in U .S. Employment — U p 5.5% vs. 3.9% in U .S ., to 2.0 m illion Unemployment — D o w n 2,000, to 105,000 — R a te dow n 0.3 p e rc e n ta g e p o in t, to 5.1% o f la b o r force vs. 5.5% in U .S. Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 31.5% vs. 16.8% in U .S ., to $754 m illion — N o n b u ild in g c o n tra c ts m o re th a n d o u b le d in v a lu a tio n vs. 22.2% ga in in U .S ., to $170 m illion — N u m b e r o f dw e lling -u n it sta rts dow n 6.8% vs. n e a r sta b ility in U .S ., to 6,019 Retail sales — U p 8.2% vs. 11.2% in U .S ., to $4.4 billion T A B LE 1 — Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s M ar yl a n d U .S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an g e To t a l p e r s o n a l i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1.5 8 3 ,5 0 8 1,78 2 ,5 19 3 1,5 79 3 2 ,5 10 3 4 ,79 1 3 5 ,8 8 4 12 .4 10 .2 12 .6 10 .4 To t a l w ag e s a n d s al ar i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 18 ,8 5 9 19 ,3 3 3 2 0 ,7 17 2 1,2 8 8 12 .1 9 .8 12 .6 10 .1 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 1,8 5 5 1,8 5 6 1,9 5 3 1,9 5 8 4 .1 5 .3 3 .9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 10 9 10 7 96 10 5 - 9 .8 — - 1 1 .9 — 5 .5 - 8 .8 - 1 .9 — — — — Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 5 .5 5 .4 4 .7 5 .1 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 7,5 3 7 7 ,7 1 9 8 ,4 4 8 n .a . 16 .3 12 .1 To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 10 ,5 0 7 10 ,6 18 11,2 2 6 n .a . 11.5 6 .8 To t a l v a l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s (t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 8 13 ,5 4 0 5 73 ,2 5 7 1,0 0 7,9 3 8 75 3 ,9 9 7 14 .5 2 3 .9 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 8 ,6 13 6 ,4 5 5 7,19 8 6 ,0 19 1.0 - 1 6 .4 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 n .a . 4 ,0 77 4 ,0 8 3 4 ,4 12 10 .3 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 1,79 5 1,9 4 2 2 ,15 0 n .a . 8 .2 19 .8 — — B u s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 53 64 20 n .a . - 9 .5 - 6 2 .3 — — 18 5 .3 — 2 0 1.8 — 18 8 .8 19 0 .7 2 0 2 .6 2 0 3 .0 — — 16 .8 - .6 — 3 1.5 - 6 .8 1 1 .2 8 .2 Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... B a l t i m o r e .................................................................................................................................................................. W a s h i n g t o n , D .C ................................................................................................................................................... n .a .: Da t a n o t a v a i l a b l e . So u r c e : See t a b l e s 2 t h r o u g h 8 . — 7.9 18 5 .5 18 8 .1 2 0 1.8 2 0 5 .3 — — 8 .9 7.3 8 .8 — 6 .4 — 9 .1 S T A T E Q U A R T E R L Y E C O N O M IC 168 DEVELO PM ENTS A n a ly s is P e r so n a l In c o m e Total personal income (se asona lly a d ju s te d a t a n n u a l ra te s) in M a ry la n d inc re a se d 10.4 p e rc e n t from 1977:IV to 1978:IV, lagging th e N a tio n ’s gain by o ve r 2 p e rc e n ta g e p o in ts (ta b le 2). In 1978:1 V, M a ry la n d ’s p e rso n a l in co m e to ta le d $35.9 billion , up $3.4 b illio n since 1977:1V. D u rin g th is tim e sp a n , consumer prices inc re a se d 6.4 p e rc e n t in th e B altim ore m e tro p o lita n a re a a n d 9.1 p e rc e n t in th e W a sh in g to n , D .C . a re a; n a tio n a lly , th e p rice in cre ase w as 8.9 pe rc e n t (ta b le 3). I f th e av erag e o f th e tw o m e tro p o lita n a re a inc re a se s is used as a n in d ic a to r fo r price incre ases th ro u g h o u t th e S ta te, real to ta l p e rso n a l in co m e in M a ry la n d inc re a se d a b o u t 2.7 p e rc e n t from y ea r to y e a r versus 3.7 p erc e n t n atio n a lly . Since th e last n a tio n a l bu sin ess cycle p e a k in 1973:IV, M a r y la n d ’s e c o n om y h as g ro w n m o re slow ly th a n th e N a tio n ’s; th e in cre ase in th e Ch a r t 1 .— Pe r so n al I n c o m e , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V ( Se a s o n a l l y a d j u s t e d ] S ta te ’s n o n fa rm in c o m e w as 16 p e rc e n t less th a n n a tio n a lly , ra n k in g M a ry la n d 4 5 th a m o n g all S tates. W age and salary disbursements (pa y ro lls) in M a ry la n d inc re a se d 10.1 p e rc e n t from 1977:1V to 1978:IV, a ra te th a t w as low er in only th re e S tates. P ay ro lls in m o st m a jo r in d u strie s re gistered g ain s th a t lagged n a tio n a l c o u n te rp a rts . F ed e ra l G o v e rn m e n t p a y ro lls increased 5.6 p erc e n t, th e sm allest p a y ro ll ga in in M a ry la n d , to $3.1 billion. N o n d u ra b le s m a n u fa c tu rin g p a y ro lls in c re a se d 7.5 p e rce nt, 2.5 p e rc e n ta g e p o in ts be low th e N a tio n ’s ave rag e incre ase; d u ra b le s p a y rolls inc re a se d 13.2 p e rc e n t, 2.0 p e rc e n ta g e p o in ts b elow th e N a tio n ’s incre ase. T ra d e p a y ro lls in c re a se d 9.4 p erc e n t, a ra te th a t w as low er in only tw o S ta tes, to $3.7 b illio n. Services p a y ro lls in c re a se d 12.0 p ercent, lagging th e 12.7-perc ent n a tio n a l g ain , to $3.6 b illion. C o n s tru c tio n p ay ro lls inc re a se d 16.0 p e rc e n t— th e large st p ay roll gain in th e S ta te — versus 20.1 p e rc e n t n atio n a lly . T ra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities p ay ro lls inc re a se d 13.2 p e rc e n t, c o m p a re d w ith 11.3 p e rc e n t n a tio n a lly . S ta te a n d local g o v e rn m e n t p a y ro lls inc re a se d 8.9 p e rc e n t, o u tp a c in g th e n a tio n a l gain o f 6.8 p erc e n t, to $3.2 billion. Pe r c e n t S ta te u n e m p lo y m e n t in su ra n c e bene fits dec line d 38.6 p e rc e n t from year to y e a r, to $101 m illion. Ch a r t 2 .— Co n s u m e r Pr i c e I n d e r , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V To t a l Pe r s o n a l M an u fac tu r in g In c om e W a g e s a n d Sa l a r i e s Pr i v a t e Go v e r n m e n t Se r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r so n al I n c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f Wages an d Sa l a r i e s : M a r y l a n d [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] In d e x, 1 9 7 2 - 10 0 Billion s T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s U .S . M ar yl a n d St a t e US. 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 7 7: I V 19 78 :111 19 78 :1V 19 78 :111 M ill io ns o f do ll ars , seasonally ad jus ted a t annu al rate s' To t a l p e r so n al i n c o m e .................................................................... To t a l p e r s o n a l i n c o m e .................................................................... W ag e a n d s a l a r y d i s b u r s e m e n t s .................................................................. 1,78 2 ,5 19 3 1,5 79 3 2 ,5 10 3 4 ,79 1 3 5 ,8 8 4 12 .4 10 .2 12 .6 10 .4 3 1,2 2 4 3 9 ,4 5 1 13 0 16 2 26 2 3 14 4 7.9 10 2 .1 2 6 .3 9 3 .9 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 3 1,4 5 0 3 2 ,3 4 8 3 4 ,5 2 9 3 5 ,5 70 11.9 9 .8 12 .3 10 .0 1,5 8 3 ,5 0 8 1,78 2 ,5 19 3 1,5 79 3 2 ,5 10 3 4 ,79 1 3 5 ,8 8 4 12 .4 10 .2 12 .6 10 .4 1,0 13 ,2 16 1,14 0 ,6 9 6 18 ,8 5 9 19 ,3 3 3 2 0 ,7 17 2 1,2 8 8 12 .1 9 .8 12 .6 10 .1 9 6 ,0 16 1 1 1 ,7 1 9 1,5 13 1,5 8 6 1,74 8 1,8 0 5 17.0 15 .6 16 .4 13 .8 10 5 ,9 5 3 12 5 ,9 9 5 1,5 6 5 1,6 17 1,8 5 1 1,9 5 9 2 1.5 18 .3 18 .9 2 1.1 2 3 ,6 3 6 3 1,0 4 4 62 93 18 9 23 7 6 6 .6 2 0 3 .7 3 1.3 15 4 .4 Ot h e r l a b o r i n c o m e ............................................................................................... Pr o p r i e t o r s ’ i n c o m e ............................................................................................... Fa r m ............................................................................................................................ N o n f a r m .................................................................................................................. 8 2 ,3 17 9 4 ,9 5 1 1,5 0 2 1,5 2 4 1,6 6 2 1,72 2 12 .8 10 .6 15 .3 13 .0 2 14 ,9 9 2 2 4 2 ,4 4 2 3 ,2 6 8 3 ,3 3 9 3 ,6 0 8 3 ,6 9 7 12 .3 10 .4 12 .8 10 .7 2 15 ,9 4 4 2 3 3 ,75 0 3 ,8 2 4 3 ,9 0 9 4 ,17 4 4 ,2 4 6 8 .8 9 .2 8 .2 8 .6 11,12 8 7,75 3 15 0 16 5 10 2 10 1 - 2 4 .0 - 3 2 .1 - 3 0 .3 - 3 8 .6 6 2 ,2 12 71,6 10 1,2 0 8 1,2 3 4 1,3 6 0 1,3 8 6 15 .1 12 .4 -4 0 1 -4 73 3 ,75 9 3 ,9 6 0 4 ,0 5 3 4 ,2 75 1,0 13 ,2 16 1,14 0 ,6 9 6 18 ,8 5 9 19 ,3 3 3 2 0 ,7 17 2 1,2 8 8 12 .1 9 .8 12 .6 10 .1 7 ,17 6 7,9 3 9 62 63 67 70 8 .5 8 .2 10 .6 11.5 1.0 0 6 ,0 4 0 1,13 2 ,7 5 7 18 ,79 7 19 ,2 70 2 0 ,6 5 0 2 1,2 18 12 .1 9 .9 12 .6 10 .1 Di v i d e n d s , i n t e r e s t , an d r e n t .......................................................................... Tr a n s f e r p a y m e n t s ................................................................................................. St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ......................................... Le s s : p e r s o n a l c o n t r i b u t i o n s .......................................................................... Pl u s : r e si d e n c e a d j u s t m e n t .............................................................................. W a g e a n d s a l a r y d i s b u r s e m e n t s .................................................................. Fa r m ............................................................................................................................ N o n f a r m .................................................................................................................. M i n i n g .................................................................................................................. Co n s t r u c t i o n ................................................................................................... M a n u f a c t u r i n g ............................................................................................... Du r a b l e g o o d s ......................................................................................... No n d u r a b l e g o o d s ................................................................................ Pr i v a t e s e r v i c e - t y p e .................................................................................. Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s W h o l e s a l e a n d r e t a i l t r a d e ............................................................ Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ....................................... Se r v i c e s ......................................................................................................... Go v e r n m e n t ..................................................................................................... Fe d e r a l ........................................................................................................... St a t e a n d l o c a l ....................................................................................... Ot h e r .................................................................................................................... 1. De t a i l m a y n o t a d d t o t o t a l s 1 9 78 :1V Pe r c e n t c h a n g e 2 1,5 8 3 ,5 0 8 Fa r m p e r s o n al i n c o m e ......................................................................................... No n f a r m p e r s o n al i n c o m e ............................................................................... St a t e 19 7 7 :I V — 14 .8 — 12 .6 — — 14 ,0 4 8 18 ,8 13 23 19 26 26 2 6 .5 12 .8 3 3 .9 4 0 .5 5 5 ,6 4 8 6 6 ,8 5 8 1,2 13 1,2 2 7 1,3 8 6 1,4 2 4 19 .1 14 .3 2 0 .1 16 .0 2 76 ,112 3 12 ,9 70 3 ,2 3 5 3 ,4 12 3 ,6 2 9 3 ,79 0 12 .1 12 .2 13 .3 1 1 .1 176 ,2 16 2 0 3 ,0 5 3 1,9 6 9 2 ,14 5 2 ,3 2 2 2 ,4 2 8 13 .7 17.9 15 .2 13 .2 9 9 ,8 9 6 10 9 ,9 17 1,2 6 6 1,2 6 7 1,3 0 7 1,3 6 2 9 .4 3 .2 10 .0 7.5 4 5 5 ,76 4 5 15 ,3 4 8 8 ,6 18 8 ,76 5 9 ,4 5 5 9 ,70 4 12 .8 9 .7 13 .1 10 .7 76 ,5 8 4 8 5 ,2 6 4 1,2 15 1,2 10 1,3 2 7 1,3 70 10 .4 9 .2 11.3 13 .2 170 ,8 8 8 19 5 ,0 3 5 3 ,3 13 3 ,3 5 2 3 ,5 8 8 3 ,6 6 7 13 .6 8 .3 14 .1 9 .4 5 4 ,4 5 2 6 1,6 5 3 9 42 965 1,0 2 0 1,0 4 1 14 .1 8 .3 13 .2 7.9 3 ,14 8 3 ,2 3 8 3 ,5 2 0 3 ,6 2 5 12 .6 11.8 12 .7 12 .0 15 3 ,8 4 0 173 ,3 9 6 2 0 1,2 5 2 2 15 ,0 8 3 5 ,6 6 3 5 ,8 0 1 6 ,10 1 6 ,2 2 3 7.4 7 .7 6 .9 7.3 6 8 ,176 73 ,0 0 3 2 ,8 12 2 ,9 0 3 2 ,9 3 8 3 ,0 6 5 7.3 4 .5 7 .1 5 .6 13 3 ,0 76 14 2 ,0 8 0 2 ,8 5 1 2 ,8 9 9 3 ,16 3 3 ,15 7 7.5 1 1.0 6 .8 8 .9 3 ,2 16 3 ,6 8 5 45 46 52 52 18 .7 16 .2 14 .6 13 .1 bec ause o f r o u n d i n g . So u r c e : U.S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 .- C o n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s M ar yl a n d U .S . St a t e 1 9 7 7 :1 1 1 19 77:1V 19 78 :1V 19 77:111 19 7 7:I V 19 78 :111 19 78 : I V 18 5 .3 St a t e 19 7 7:1V — 19 78 :111 I n d e x, 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d U .S . c i t y a ve r a g e 2 1 ....................................................................................................................................... U .S . 19 78 :1V Pe r c e n t c h a n g e 8 .9 7,9 2 0 1.8 B a l t i m o r e ................................................................................................................................................... 18 8 .8 19 0 .7 2 0 2 .6 2 0 3 .0 7 .3 6 .4 W a s h i n g t o n , D .C ........................................................................................................................... 18 5 .5 18 8 .1 2 0 1.8 2 0 5 .3 8 .8 9 .1 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n ar eas b ase d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a t a a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e 170 S TA TE Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS L abor F orce F ro m 1977:IV to 1978:IV, M a ry la n d ’s civilian labor force inc re a se d 5.1 p e rc e n t, well a b o v e th e N a tio n ’s 3.1 -p erc e n t a dv a nc e a n d a m o n g th e la rge st o f all S ta te a d v a n c e s (ta b le 4). Total employment in c re ased from 1.9 m illion to 2.0 m illion , a 5 .5 -p erc e nt a dv a n c e th a t led th e n a tio n a l a v e ra g e a d v a n c e by 1.6 p e rc e n ta g e p o in ts. la b o r force, c o m p a re d w ith 5.5 p e rc e n t n a tio n a lly . In 1978:IV, a s in 1977:IV, M a ry la n d ’s u n e m p lo y m e n t ra te w as low er th a n th e N a tio n ’s. A c ro ss th e S ta te, u n e m p lo y m e n t p re lim in a ry d a ta fo r D e c em b er B a ltim o re m e tro p o lita n a re a w a s th e S ta te w as 5.1 p e rce nt. T h e p e rce nt. W ith e m p lo y m e n t in c re a sin g by 102,000 a n d th e la b o r fo rce inc re a sing by 100,000, th e n u m b e r o f unemployed declined by 2,000. T h e unemployment rate d ec lin ed 0.3 p e rc e n ta g e p o in t, to 5.1 p e rc e n t o f th e Ch a r t 5 — La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : M a r y l a n d ra te s v a rie d so m e w h a t. A c c o rd in g to 1978, th e u n e m p lo y m e n t ra te in th e 6.2 p e rc e n t, a n d th e ra te in th e re st o f p re lim in a ry state w id e ra te w as 5.6 Ch a r t 6 .— Un e m p l o y m e n t Ra t e s , 19 77:1V — 19 78 :1V Pe r c e n t 19 77:1V 19 78 :1V T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 M ar yl a n d Un i t e d St a t e s 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 St a t e U .S . St a t e U .S . 19 77:111— 19 7 7:1V — 19 78 :111 19 78 :1V 19 78 :1V Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Pe r c e n t c h an g e1 2 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s ..................................................................................... ( 4 ,2 10 8 7,70 S 1,5 5 1 1,5 6 2 1,6 0 1 1,6 19 4 .3 3 .2 4 .2 M i n i n g ...................................................................................................................................................................................... 78 7 899 2 1 2 2 8 .2 .0 14 .2 7.1 6 .3 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 93 91 99 97 10 .4 6 .9 11.3 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 23 7 23 8 24 4 24 6 3 .1 3 .7 3 .0 3 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 83 81 83 85 3 .8 .4 4 .4 5 .5 W h o l e s a l e a n d r e t a i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 3 73 3 78 3 79 388 5 .3 1.4 4 .5 2 .9 3 .5 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e ................................................................................................................... 4 ,8 5 2 4 ,75 6 85 85 89 87 4 .8 4 .4 - 2 .0 3 .3 Se r vi c e s .................................................................................................................................................................................. 15 ,5 3 9 16 ,2 15 3 10 307 324 324 4 .6 4 .3 4 .4 5 .4 Go v e r n m e n t .............................................................................................................. ......................................................... 15 ,4 3 4 15 ,6 5 6 369 38 2 382 390 2 .1 3 .7 1.4 2 .1 5 .1 Ci v i l i a n l a b o r f o r c e 3 .................................................................................................................................. 9 1,5 9 1 10 1,6 15 1,9 6 3 1,9 6 3 2 ,0 4 8 2 ,0 6 3 3 .2 4 .3 3 .1 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 1,8 5 5 1,8 5 6 1,9 5 3 1,9 5 8 4 .1 5 .3 3 .9 To t a l u n e m p l o y e d ........................................................................................................................................................... 6 ,14 9 5 ,6 0 5 10 9 10 7 96 10 5 — 11.9 - 8 .8 Pe r c e n t u n e m p l o y e d ..................................................................................................................................................... 6 .2 5 .5 5 .5 5 .4 4 .7 5 .1 1 . De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n un roun ded data. 3 . B e g i n n i n g Ja n u a r y 19 78 , t h e s e d a t a a r e b e i n g e s t i m a t e d b y n e w m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e a k i n t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xer c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . - 9 .8 — — — 5 .5 - 1 .9 — ' A p r il 1979 171 Ch a r t 7 .— Ci vi l i a n La b o r Fo r c e Ch a r t 8 .— Ci vi l i a n Em p l o y m e n t I n d e x, 19 72 = 10 0 I n d e x, 19 72 = 10 0 Ch a r t 9 .— Un e m p l o y m e n t Rat e Ch a r t 10 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : Ma r yl an d Pe r c e n t M il li o n s 172 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS C o m m er cia l B a n k in g D u e to c ha nges in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o rt to in clu de th e com m e rcial b a n k in g discussion a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e com m e rcial b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l Ba n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Un i t e d St a t e s 19 77:1V 19 78 :1V Fo u r t h Qu a r t e r , 19 78 M ar yl a n d 19 77:111 19 77:1V 19 78 :111 U .S . St a t e U .S . St a t e 19 77:111 — 19 7 7:1V — 19 78 :111 19 78 :1V 19 78 :1V M ill io ns of do ll ars , n ot seasonally a d ju s te d 1 Pe r c e n t c h a n g e 2 1 To t a l l o a n s ....................................................................................................................................................... 6 10 ,5 0 2 n .a . 7,5 3 7 7 ,7 1 9 8 ,4 4 8 n .a . 16 .3 12 .1 — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 1,6 3 4 1,6 14 1,7 7 9 n .a . 14 .2 8 .9 — — Lo a n s t o i n d i v i d u a l s ...................................................................................................................................................... 14 0 ,5 9 9 n .a . 2 ,2 76 2 ,3 71 2 ,6 19 n .a . 2 0 .2 15 .1 — — Rea l e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 3 ,0 3 1 3 ,16 4 3 ,4 8 5 n .a . 19 .9 15 .0 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,72 5 1,8 4 3 2 ,112 n .a . 2 1.3 2 2 .4 — — Fa r m s ................................................................................................................................................................................... 7 ,7 3 1 n .a . 71 69 76 n .a . 10 .7 6 .1 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 1,2 3 4 1,2 5 1 1,2 9 7 n .a . 19 .0 — — Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 61 59 60 n .a . 6 .8 - 1 .8 — — Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 5 35 5 12 505 n .a . 8 .0 - 5 .6 — — To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 10 ,5 0 7 10 ,6 18 11,2 2 6 n .a . 11.5 5 .1 6 .8 — — — — D e m a n d ................................................................................................................................................................................... 3 77,6 8 3 n .a . 4 ,19 2 4 ,19 8 4 ,4 6 8 n .a . 10 .2 6 .6 — Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 6 ,3 15 6 ,4 2 0 6 ,75 8 n .a . 12 .3 7.0 — 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g , 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . A p r il 1979 173 C o n str u c tio n T h e to ta l v a lu a tio n o f c o n tra c ts rose 31.5 p e rc e n t from 1977:IV to 1978:IV, to $754 m illion (ta b le 6). M a ry la n d ’s g a in fa r exc eede d th e N a tio n ’s 16.8-percent a v e ra g e ga in a n d ra n k e d sev e nth a m o n g all S ta te g ain s. N a tio n a l c o n s tru c tio n co sts rose a lm o st 13 p e rc e n t d u rin g th e sam e tim e spa n; if this rise reflects th e a dv a nc e th ro u g h o u t M a ry la n d , th e re al to ta l v a lu a tio n o f c o n tra c ts rose m o re th a n 18 p e rc e n t in th e S ta te versus a n a tio n a l rise o f a b o u t 4 p e rce nt. T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts ro se to well ov er tw ice th e level o f a y e a r p re v io u s. M a ry la n d ’s p e rc e n t ga in ra n k e d fo u rth in th e N a tio n a n d w a s o ve r six tim e s as la rg e as th e N a tio n ’s 2 2.2 -p e rc e n t g a in . T h e S ta te ’s g ain to ta le d $98.6 m illion a n d a c c o u n te d fo r 55 p e rc e n t o f th e g ain in th e v a lu a tio n o f all c o n tra c ts . A m a jo r c o m p o n e n t o f n o n b u ild in g c o n tra c ts , stre e ts a n d highw ays, re gistere d a 72.5 -p erc en t g ain in v a lu a tio n , in c o n tra s t w ith a dec line o f 16.3 p e rc e n t n a tio n a lly . Ch a r t 14 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n T h e v a lu a tio n o f c o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re side n tia l h o u sek e ep in g units rose 20.4 p erc e n t, a lm o s t 6 p e rc e n ta g e p o in ts m o re th a n n a tio n a lly , to $153.8 m illion. R egistering th e sm a llest gain a m o n g m a jo r c o n s tru c tio n c a te g o rie s in th e S ta te, re sid e n tia l h ou sek e e p in g c o n tra c ts ro se o n ly 5.5 p e rc e n t in v a lu a tio n , lagging th e N a tio n ’s g ain o f 15.6 p e rc e n t. T h e g a in w a s o n e o f th e sm allest re gistere d a m o n g all S ta tes. T h e n u m b e r o f d w elling u n its s ta rte d in M a ry la n d dec line d 6.8 p e rc e n t, o r 436 u n its, to 6,019. N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w as a lm o st u nc h a n g e d a t a high level. Ch a r t 15 .— Co n s t r u c t i o n Co n t r a c t s — Va l u a t i o n o f Co n t r a c t s b y Ty p e : M a r y l an d Billio n $ I n d e x , 19 7 6 = 1 0 0 Ch a r t Pe r c e n t N o n re sid e n tia l c o n tra c ts rose 30.1 p e rc e n t in v a lu a tio n fro m y ea r to y ea r, a lm o st tw ice th e N a tio n ’s a v e rag e g ain , to $186.5 m illion . 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g Un i t s St a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 19 7 8 :I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a t e s M ar yl a n d U.S . St a t e U.S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d To t a l va l u a t i o n o f c o n t r a c t s ............................................................................................................... St a t e 1 9 7 7 :1 V - 19 77:111— 19 78 :1V Pe r c e n t c h a n g e ’ 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 8 13 ,5 4 0 5 73 ,2 5 7 1,0 0 7,9 3 8 75 3 ,9 9 7 14 .5 2 3 .9 16 .8 3 1.5 7,70 7,9 8 7 8 ,8 3 2 ,3 5 3 12 9 ,4 8 9 12 7 ,7 2 1 16 1,4 3 0 15 3 .7Ç 3 16 .8 2 4 .7 14 .6 2 0 .4 Re s i d e n t i a l h o u s e k e e p i n g , a d d i t i o n s a n d a l t e r a t i o n s : Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Al l o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,0 0 0 1,0 6 4 1,3 4 3 1,0 8 4 4 .4 3 4 .3 - 9 .3 1.9 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 6 8 4 ,0 5 1 4 4 5 ,5 3 6 8 4 6 ,5 0 8 6 0 0 ,2 14 14 .0 2 3 .7 17 .4 3 4 .7 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 18 ,8 10 12 ,9 0 5 1 7 ,6 14 15 ,0 6 5 10 .8 - 6 .4 10 .2 16 .7 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 13 3 117 113 10 6 - 5 .1 - 1 5 .0 - 4 .3 - 9 .4 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 8 ,6 13 6 ,4 5 5 7,19 8 6 ,0 19 1.0 - 1 6 .4 - .6 - 6 .8 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 14 ,8 79 ,5 9 6 17,19 8 ,5 18 2 72 ,79 1 2 2 5 ,0 8 3 2 9 4 ,0 3 8 2 3 7,4 3 6 15 .3 7.8 15 .6 5 .5 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 11,5 76 9 ,3 6 2 11,73 9 9 ,8 19 10 .3 1.4 10 .7 4 .9 - 1 0 .0 Re s i d e n t i a l n o n h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 507 505 11 8 4 8 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 9 ,18 9 5 ,6 0 1 2 ,778 6 ,16 6 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 28 4 13 9 87 12 3 - .7 9 .4 - 6 3 .6 - .4 - 6 9 .8 4 4 .8 10 .1 - 6 9 .2 2 4 .7 — 11.3 .0 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 6 15 6 16 5 17 46 6 - 2 .5 - 1 5 .9 - 1 2 .0 - 2 4 .4 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 2 8 9 ,0 2 7 14 3 ,3 3 2 2 2 1,0 0 0 18 6 ,5 4 6 2 7.6 - 2 3 .5 15 .8 3 0 .1 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 6 ,9 5 0 3 ,4 0 5 5 ,78 8 5 ,12 3 12 .2 - 1 6 .7 8 .9 5 0 .4 2 2 .4 19 4 .2 - 9 .1 5 6 .0 - .1 19 0 .8 2 2 .2 13 7.8 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 241 3 23 70 9 504 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 113 ,0 4 4 71,5 2 0 3 2 8 ,6 9 2 170 ,0 6 6 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 71 73 18 0 91 9 .3 15 3 .5 - 1 7 .8 2 4 .7 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................ 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 2 8 ,6 3 1 2 0 ,0 75 76 ,4 3 3 3 4 ,6 3 7 3 .0 16 7.0 - 1 6 .3 72 .5 1 . Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a y s . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w -Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an g es f o r f l o o r ar e a b a se d o n u n r o u n d e d N O T E.— De t a i l f o r f l o o r a r ea d a ta m a y n o t a d d t o t o t a l s b e c a u s e o f r o u n d i n g . d ata. R e ta il S a le s R e ta il sales in M a r y la n d to ta le d $4.4 billion in 1978:IV, u p 8.2 p e rc e n t ($335 m illion) since 1977:IV, c o m p a re d w ith a n 11.2-percent n a tio n a l in cre a se (ta b le 7). In 1978:IV, n o n d u ra b le g o o d s a c c o u n te d for $3.1 billion , a n d d u ra b le g o o d s a c c o u n te d fo r $1.3 billion. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Maryland U.S . St a t e US. 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M il li o n s of do ll ar s , not seasonally adju sted St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an g e Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 n .a . 4 ,0 77 4 ,0 8 3 4 ,4 12 10 .3 — 1 1 .2 8 .2 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . 1,3 18 1,3 12 11.8 — 15 .3 ________ No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . 2 ,76 5 3 ,10 0 9 .6 — 9 .2 n .a .: Da t a n o t a v a i l a b l e . — So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d M a r y l a n d Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s M ar yl a n d U.S . St a t e U .S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 No t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h a n g e Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. 10 9 ,4 11 n .a . 1,79 5 1,9 4 2 2 ,15 0 n .a . To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 53 64 20 n .a . 8 .2 - 9 .5 19 .8 — - 6 2 .3 — — _____ — Cu r r e n t l i a b i l i t i e s (t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 7,12 2 5 ,6 4 5 1,7 1 3 n .a . - 4 4 .2 - 7 5 .9 _____ Av e r a g e l i a b i l i t y p e r f a i l u r e (t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 13 4 88 86 n .a . - 3 8 .4 - 3 5 .8 — _____ Bu s i n e s s fai l u r es b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 7 11 1 n .a . - 1 0 .1 - 8 5 .7 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 15 25 6 n .a . 1.0 - 6 0 .0 — _____ — — — W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 3 7 2 n .a . - 2 7 .1 - 3 3 .3 — Ret a i l t r a d e ........................................................................................................................................................................... 6 88 n .a . 19 18 8 n .a . - 4 .2 - 5 7 .9 — — Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 9 3 2 n .a . - 2 4 .0 - 7 7 .8 — — n .a .: Da t a n o t a v a i l a b l e . So u r c e : Du n & Br a d s t r e e t, Inc . N O T E.— Th i s t a b l e m a y n o t be r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 175 1979 H ig h lig h ts 1977:IV to 1978:IV Personal income — U p 11.4%, 1.2 p e rc e n ta g e p o in ts less th a n in U .S. — W e a k i n c r e a s e s in c o n s t r u c t i o n a n d t r a n s p o r t a t i o n c o m m u n ic a tio n -p u b lic utilities Consumer prices — U p 7.5% in B o sto n vs. 8.9% in U .S. Employment — U p 2.9% vs. 3.9% in U .S ., to a lm o st 2.7 m illion Unemployment — D o w n betw een 36,000 a n d 37,000, to 144,000 — R a te d ow n to 5.1% o f la b o r fo rce vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts u p 22.1% vs. 16.8% in U .S ., to $884 m illion — T w o u nu sua lly large c o n tra c ts a c c o u n te d fo r o n e - h a lf o f S ta te gain — N u m b e r o f dw< lin g -u n it sta rts d o w n 1.0% vs. little c h a n g e in U .S ., to 5,541 Retail sales — U p 13.2% vs. 11.2% in U .S., to $5.8 b illio n T A B LE 1 — Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Mass ac hus ett s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an g e To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 12 ,5 19 4 2 ,3 4 2 4 3 ,4 6 0 4 7,2 5 9 4 8 ,4 0 0 12 .4 11.6 12 .6 11.4 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s )........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 2 6 ,9 5 3 2 7,6 9 8 3 0 ,3 3 5 3 1,10 4 12 .1 12 .5 12 .6 12 .3 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 2 ,5 8 1 2 ,6 14 2 ,70 3 2 ,6 8 8 4 .1 4 .7 3 .9 2 .9 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 244 18 1 18 1 14 4 - 2 5 .8 - 8 .8 - 2 0 .4 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. 6 .2 5 .5 8 .6 6 .5 6 .3 5 .1 To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 n .a . 10 ,0 4 3 10 ,2 5 1 11,2 2 6 n .a . - 9 .8 — — 16 .3 — — 11.8 — — — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) .................................................................................................................. 9 2 5 ,5 11 n .a . 15 ,3 3 1 16 ,3 3 4 16 ,6 5 2 n .a . 11.5 8 .6 To t a l v a l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 70 6 ,5 77 72 3 ,5 12 9 17 ,119 8 8 3 ,72 6 14 .5 2 9 .8 16 .8 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 5 ,0 0 0 5 ,5 9 8 6 ,3 8 7 5 ,5 4 1 1.0 2 7 .7 - .6 To t a l r e t a i l sal es (m i l l i o n s o f d o l l a r s ) ............................................................................................................ 19 7,0 3 0 2 19 ,0 2 0 4 ,5 15 5 ,13 6 5 ,0 8 4 5 ,8 13 10 .3 12 .6 1 1 .2 Ne w b u s i n e ss i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 2 ,2 8 9 2 ,5 0 4 2 ,4 14 n .a . 8 .2 5 .5 — — - 3 4 .6 — — Bu s i n e s s f a i l u r e s ( n u m b e r ) .................................................................................................................................... 1,6 8 4 n .a . 18 5 .3 2 0 1.8 81 61 53 n .a . 18 5 .0 18 5 .3 19 4 .2 19 9 .2 - 9 .5 2 2 .1 - 1 . 0 13 .2 Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... B o s t o n ........................................................................................................................................................................ n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 7.9 I 8 .9 5 .0 7.5 S T A T E Q U A R T E R L Y E C O N O M IC 176 DEVELO PM ENTS A n a ly s is P e r so n a l In c o m e T o ta l perso nal incom e (season ally a d ju s te d a t a n n u a l ra te s) inc re a se d 11.4 p erc e n t from 1977:IV to 1978:IV , 1.2 p e rc e n ta g e p o in ts less th a n n a tio n a lly (ta b le 2). In 1978:IV, M a s s a c h u s e tts ’ to ta l p e rso n a l incom e w as $48.4 b illio n — up $4.9 billion since 1977:IV. In m o st N e w E n glan d S ta tes, th e in cre ase in to ta l p e rso n a l in co m e w as fairly close to th e n a tio n a l av erage. S ince th e la st n a tio n a l bu siness cycle p e a k (1973:IV ), M a s sa c h u s e tts’ e c o n om ic g ro w th h as been slow ; th e in cre a se in n o n fa rm in co m e w as 15 p e rc e n t less th a n n a tio n a lly , ra n k in g M a ssa c h u se tts 4 4 th a m o n g all S ta tes. A ll o f th e S tates th a t grew m o re slow ly th a n M a ssa c h u s e tts w ere in th e N o rth e a s t. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t C onsum er prices in B o sto n inc re a se d 7.5 p e rc e n t from 1977:1 V to 1978:1 V versus a n a tio n a l in cre ase o f 8.9 p e rc e n t (ta b le 3). I f B o sto n ’s index is used as an in d ic a to r fo r price m o v e m e n ts in th e S tate, real to ta l p e rso n a l in c om e in M a ssa c h u s e tts in c re a se d 3.9 p e rc e n t, a b o u t th e sam e as in th e N a tio n . W a g e and sa la ry disbursem ents (pa y ro lls) in cre a se d 12.3 p e rc e n t in M a s sa c h u s e tts versus 12.6 p e rc e n t in th e N a tio n . In 1978:IV, p a yro lls to ta le d $31.1 b illio n, up $3.4 billion since 1977:IV. T h e S ta te ’s lag w as p a rtic u la rly p ro n o u n c e d in c o n s tru c tio n , w h e re p a y rolls in c re a se d 10.0 p e rc e n t, o r a b o u t o n e -h a lf o f th e n a tio n a l increase. M a n u fa c tu rin g p ay rolls in M a ss a c h u se tts in c re a se d 12.3 p e rc e n t, 1.0 p e rc e n ta g e p o in t less th a n in th e N a tio n . T h e lag w as in d u ra b le g oo d s m a n u fa c tu rin g p ay ro lls, w hich a c c o u n te d fo r 20 p e rc e n t o f all p a yro lls in th e S ta te in 1978:IV. N o n d u ra b le g o o d s m a n u fa c tu rin g p a yro lls in c re ased 1.5 p e rc e n ta g e p o in ts m o re in th e S ta te th a n in th e N a tio n . P ay rolls w e re w eak in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic utilities a n d in fin a n c e -in su ra n c e -re a l e state . In c o n tra s t, inc re a se s in th e S ta te in services a n d tra d e w ere stro n g e r th a n c o rre sp o n d in g increases in th e N a tio n . B oth F e d e ra l a n d S ta te a n d local g o v e rn m e n t p a y ro lls in c rea se d m o re in M a ssa c h u s e tts th a n in th e N a tio n . S ta te u n e m p lo y m e n t in su ra n c e b e ne fits de c line d 42.6 p erc e n t versus a d ec line o f 30.3 p e rc e n t in th e N a tio n . O n ly n in e S ta tes h a d large r declines. Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x, Pe r c en t Ch a n g e , 19 77:1V — 19 78 :1V Pe r c e n t □ Un i t e d St a t e s Bosto n W a g e s a n d Sa l a r i e s Ch a r t 3 .— To t a l Pe r s o n a l In c o m e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f Wages a n d Sa l a r i es : M a s s a c h u s e t t s [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] I n d e x, 19 72 = 10 0 Billio n $ T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Massac husetts. Un i t e d St a t e s U .S . St a t e U .S . 1 9 7 7 :1 1 1 19 77:I V 19 78 :1V 19 77:111 19 77:I V 19 78 :111 19 78 :1V 19 78 :111 M il lio ns of dol lar s, seasonally ad jus ted at an nu al rate s1 To t a l p e r s o n al i n c o m e .................................................................................................................... To t a l p e r s o n al i n c o m e ...................................................................................................................... W a g e a n d s al a r y d i s b u r s e m e n t s .......................................................................................................................... 1,78 2 ,5 19 4 2 ,3 4 2 4 3 ,4 6 0 4 7,2 5 9 4 8 ,4 0 0 12 .4 11 .6 12 .6 11.4 3 1,2 2 4 3 9 ,4 5 1 75 80 88 96 4 7.9 1 7 .7 26 3 20 1 1,5 5 2 ,2 8 4 1,74 3 ,0 6 8 4 2 ,2 6 7 4 3 ,3 8 0 4 7 ,1 7 2 4 8 ,3 0 4 11.9 11.6 12 .3 11.4 1,5 8 3 ,5 0 8 1,78 2 ,5 19 4 2 ,3 4 2 4 3 ,4 6 0 4 7,2 5 9 4 8 ,4 0 0 12 .4 11.6 12 .6 11.4 1,0 13 ,2 16 1,14 0 ,6 9 6 2 6 ,9 5 3 2 7,6 9 8 3 0 ,3 3 5 3 1,10 4 12 .1 12 .5 12 .6 12 3 9 6 ,0 16 1 1 1 ,7 1 9 2 ,5 16 2 ,6 4 1 2 ,9 5 6 3 ,0 2 5 17.0 17 .5 16 .4 14 5 10 5 ,9 5 3 12 5 ,9 9 5 1,9 8 4 2 ,0 0 8 2 ,16 0 2 ,2 3 0 2 1.5 8 .9 18 .9 11.1 2 3 ,6 3 6 3 1,0 4 4 21 25 31 37 6 6 .6 4 3 .0 3 1.3 4 6 .0 8 2 ,3 17 9 4 ,9 5 1 1,9 6 3 1,9 8 2 2 ,13 0 2 ,19 4 12 .8 85 16 3 m 2 14 ,9 9 2 2 4 2 ,4 4 2 6 ,13 7 6 ,2 6 6 6 ,78 2 6 ,9 5 2 12 .3 10 .5 12 .8 11 0 2 15 ,9 4 4 2 3 3 ,75 0 6 ,4 72 6 ,5 9 4 6 ,9 9 0 7,0 76 8 8 8 0 11,12 8 7,75 3 360 363 23 5 20 8 - 2 4 .0 -3 4 6 6 2 ,2 12 7 1,6 10 1,5 2 7 1,5 5 6 1,7 4 7 1 ,7 7 0 14 .8 14 5 16 1 Ot h e r l a b o r i n c o m e ............................................................................................................................ Pr o p r i e t o r s i n c o m e ................................................................................................................................ Di v i d e n d s , i n t e r e s t , a n d r e n t ................................................................................................................... Tr a n s f e r p a y m e n t s .................................................................................................................................... St a t e u n e m p l o y m e n t i n s u r a n c e b e n e f i t s ........................................................................ Le s s : p e r s o n a l c o n t r i b u t i o n s ................................................................................................. Pl u s : r e si d e n c e a d j u s t m e n t ............................................................................................... W a g e a n d s al a r y d i s b u r s e m e n t s .......................................................................................................................... N o n f a r m ......................................................................................................................... 19 78 :1V Pe r c e n t c h a n g e 2 1,5 8 3 ,5 0 8 Fa r m p e r s o n a l i n c o m e .............................................................................................................................................. No n f a r m p e r so n al i n c o m e ............................................................................................. : .................................... St a t e 19 7 7 :1V — 7 8 2 -3 0 3 47 fi n 8 -4 0 1 -4 73 -19 2 -19 1 - 2 16 -2 18 1,0 13 ,2 16 1,14 0 ,6 9 6 2 6 ,9 5 3 2 7,6 9 8 3 0 ,3 3 5 3 1,10 4 12 .1 12 .5 12 .6 7 ,17 6 7,9 3 9 49 51 52 55 8 .5 7.5 1 0 .6 8 1 1,0 0 6 ,0 4 0 1,13 2 ,7 5 7 2 6 ,9 0 4 2 7,6 4 8 3 0 ,2 8 3 3 1,0 4 9 12 .1 12 .6 12 .6 12 3 M i n i n g ...................................................................................................................... C o n s t r u c t i o n ........................................................................................................... M a n u f a c t u r i n g ................................................................................................................................................ Du r a b l e g o o d s .............................................................................................................................................. No n d u r a b l e g o o d s ....................................................................................................................... Pr i va t e s e r v i c e - t y p e ........................................................................................................................................ Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s ...................................................... W h o l e s a l e a n d r e t a i l t r a d e ..................................................................................................... Fi n a n c e , i n s u r a n c e , a n d r eal e s t a t e ................................................................. Se r v i c e s .......................................................................................................................... Go v e r n m e n t ....................................................................................................... . Fe d e r a l ................................................................................................................................................................... St a t e a n d l oc al ................................................................................................................................ 12 .3 14 ,0 4 8 18 ,8 13 14 13 15 15 2 6 .5 8 .6 33 9 111 5 5 ,6 4 8 6 6 ,8 5 8 1,0 0 6 1,0 15 1,1 1 0 1 ,1 1 7 19 .1 10 .4 2 0 .1 10 0 2 7 6 ,112 3 12 ,9 70 7,75 3 8 ,2 2 4 9 ,0 3 4 9 ,2 3 3 12 .1 16 .5 13 .3 12 3 176 ,2 16 2 0 3 ,0 5 3 5 ,0 78 5 ,4 9 3 6 ,0 3 4 6 ,18 8 13 .7 18 .8 15 2 1 9 9 ,8 9 6 10 9 ,9 17 2 ,6 75 2 ,73 1 3 ,0 0 0 3 ,0 4 5 9 .4 12 .2 1 0 .0 11 5 4 5 5 ,76 4 5 15 ,3 4 8 13 ,2 8 0 13 ,3 9 2 14 ,76 3 15 ,16 0 12 8 11 n 13 2 76 ,5 8 4 8 5 ,2 6 4 1,6 9 9 1,79 5 1,8 7 1 19 0 2 10 .4 10 2 11 3 5 J 170 ,8 8 8 19 5 ,0 3 5 4 ,5 2 3 4 ,5 5 7 5 ,0 6 3 5 ,2 2 9 13 .6 11.9 14 1 14 7 ? 1 ? 6 5 4 ,4 5 2 6 1,6 5 3 1,6 8 4 1,6 8 9 1,8 4 6 1,8 6 7 14 .1 9 .6 13 .2 10 .5 15 3 ,8 4 0 173 ,3 9 6 5 ,3 75 5 ,3 5 0 5 ,9 8 3 6 ,16 3 12 .6 1 1.3 12 .7 15 2 2 0 1,2 5 2 2 15 ,0 8 3 4 ,75 9 4 ,9 0 8 5 ,2 5 1 5 ,4 17 7.4 10 .3 6 .9 10 .4 6 8 ,176 73 ,0 0 3 1,13 9 1,18 4 1 ,2 11 1,2 76 7.3 6 .3 7 .1 13 3 ,0 76 14 2 ,0 8 0 3 ,6 2 0 3 ,72 5 4 ,0 4 0 4 ,14 0 7.5 11.6 6 .8 11.2 3 ,2 16 3 ,6 8 5 93 95 10 9 10 8 18 .7 17.5 14 .6 13 .7 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . U> So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ec o n o m i c An a l y s i s , Re g i o n a l Ec o n o m i c M e a s u r e m e n t 2 . Ba s e d o n u n r o u n d e d d a t a . Di v i s i o n . T A B LE 3 — Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 Un i t e d St a l e s M as sac hus ett s U .S . St a t e 19 77:111 — 19 77:1V 19 78 : I V 19 77:11 19 77:1V 19 78 :11 19 78 :1V U .S . c i t y a ve r a g e 2 18 5 .3 1. Co n s u m e r Pr i c e I n d e xe s a r e s h o w n f o r t h e m o s t r e l e va n t S M S A( s ) f o r w h i c h d a t a a r e a va i l a b l e . 2 . Av e r a g e f o r 8 5 r e p r e s e n t a t i v e u r b a n a r e a s b a se d o n t h e 19 70 So u r c e : U .S . De p a r t m e n t o f La b o r , Bu r e a u o f La b o r St a t i s t i c s . Ce n s u s o f Po p u l a t i o n . 19 78 :1V Pe r c e n t c h an g e 2 0 1.8 7.9 18 5 .0 18 5 .3 St a t e 19 7 7 :1V — 19 78 :111 I n d e x , 19 6 7 = 10 0 , n o t s e a s o n a l l y a d j u s t e d B o s t o n .. U .S . 19 4 .2 19 9 .2 8 .9 5 .0 7.5 N O T E.- U n r e v i s e d d a t a a r e u s e d f o r t h e q u a r t e r s p r i o r t o Ja n u a r y 19 78 , a n d r e vi s e d d a ta a r e u s e d f o r t h e s u b s e q u e n t q u a r t e r s . Us e r s a r e a d vi s e d t o e xe r c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o ve r t i m e . 178 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS' L abor F orce F ro m 1977:IV to 1978:IV, th e civilian labor force in in c re a se d 1.4 p e rc e n t, 1.7 p e rc e n ta g e p o in ts less th a n (ta b le 4). F o rty -o n e S ta te s h a d la rg e r incre ases. Total M a ssa c h u s e tts in c re a se d 2.9 p e rc e n t, 1 p e rc e n ta g e p o in t N a tio n , to a lm o s t 2.7 m illion. M a ssa c h u s e tts in th e N a tio n employment in less th a n in th e from y e a r to y e a r versus a dec line in th e N a tio n o f 0.7 p e rc e n ta g e p o in t. O nly eight S ta te s— fo u r o f the m in N e w E n g la n d — h a d la rg e r declines in u n e m p lo y m e n t ra te s th a n M a s sa c h u s e tts’. In D e c e m b e r 1978, M a s sa c h u se tts’ p re lim in a ry u n e m p lo y m e n t ra te w as 5.7 p erc e n t, d o w n o n ly fra c tio n a lly from th e D e c e m b e r 1977 rate. U n e m p lo y m e n t ra te s in m a jo r m e tro p o lita n a re a s o f th e S ta te ra n g e d from 8.2 p e rc e n t in N e w B e dfo rd to 4.7 p e rc e n t in W o rc e ste r. R ates fo r th e B o sto n m e tro p o lita n a r e a — w hich a c c o u n ts fo r a lm o s t o n e -h a lf o f th e to ta l la b o r force in th e S ta te — w ere 5.1 p e rc e n t in D e c e m b e r 1978 a n d 5.4 p e rc e n t in D e c e m b e r 1977. W ith th e la b o r fo rce in c re a sin g by a b o u t 38,000 a n d to ta l e m p lo y m e n t in c re a sin g by a b o u t 74,000, unemployment dec line d by betw e en 36,000 a n d 37,000, to 144,000. In 1978:IV, th e unemployment rate in M a ssa c h u s e tts w as 5.1 p e rc e n t, c o m p a re d w ith a n a tio n a l ra te o f 5.5 p e rc e n t. T h e S ta te ’s u n e m p lo y m e n t ra te dec line d 1.4 p e rc e n ta g e p o in ts Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , an d Un e m p l o y m e n t , 19 78 :1V: Ch a r t 6 .— Un e m p l o y m e n t Rat es , 19 7 7 :1V - 19 7 8 :1V Massac hu setts T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Mass ac hus ett s Un i t e d St a t e s 19 7 7:I V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 U.S . 19 78 :1V St a t e U .S . St a t e 19 7 7 :1 1 1 - 1 9 7 7 :1 V - 19 78 :111 19 78 :1V Th o u s a n d s o f p e r s o n s , n o t s e a s o n a l l y a d j u s t e d 1 Pe r c e n t c h a n g e 2 Em p l o y e e s o n n o n a g r l c u l t u r a l p a y r o l l s ..................................................................................... 8 4 ,2 10 8 7,70 8 2 ,4 2 5 2 ,4 5 3 2 ,5 2 0 2 ,5 5 6 M i n i n g a n d s e r vi c e s ........................................................................................................................................................ 16 ,3 2 6 1 7 ,1 1 4 5 40 5 46 5 74 580 C o n s t r u c t i o n ....................................................................................................................................................................... 4 ,0 3 2 4 ,4 8 8 80 75 84 80 4 .3 3 .9 4 .2 6 .3 ________ 6 .2 10 .4 4 .9 11.3 6 .7 4 .1 — 4 .2 M a n u f a c t u r i n g ................................................................................................................................................................... 19 ,9 8 6 2 0 ,72 2 620 634 6 47 660 3 .1 4 .4 3 .7 Tr a n s p o r t a t i o n , c o m m u n i c a t i o n , a n d p u b l i c u t i l i t i e s .......................................................................... 4 ,76 1 4 ,9 71 113 115 115 117 3 .8 1.6 4 .4 1.5 W h o l e s a l e a n d r e ta i l t r a d e ........................................................................................................................................ 19 ,15 2 2 0 ,0 15 5 43 551 565 580 5 .3 3 .9 4 .5 5 .3 3 .2 Fi n a n c e , i n s u r a n c e , a n d r e al e s t a t e .................................................................................................................. 4 ,8 5 2 4 ,75 6 14 0 13 9 14 5 14 3 4 .8 3 .1 - 2 .0 Go v e r n m e n t ......................................................................................................................................................................... 15 ,4 3 4 15 ,6 5 6 387 393 390 396 2 .1 .6 1.4 .9 Ci v i l i a n l a b o r f o r c e 3 ...................................................... ........................................................................... 9 8 ,5 9 1 10 1,6 15 2 ,8 2 5 2 ,79 5 2 ,8 8 4 2 ,8 3 3 3 .2 2 .1 3 .1 1.4 To t a l e m p l o y e d ................................................................................................................................................................. 9 2 ,4 4 2 9 6 ,0 10 2 ,5 8 1 2 ,6 14 2 ,70 3 2 ,6 8 8 To t a l u n e m p l o y e d ............................................................................................................................................................ 6 ,14 9 5 ,6 0 5 244 18 1 18 1 14 4 Pe r c e n t u n e m p l o y e d ...................................................................................................................................................... 6 .2 5 .5 8 .6 6 .5 6 .3 5 .1 1. De t a i l m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . 3 . B e g i n n i n g Ja n u a r y 19 78 ’, t h e s e d a t a ar e b e i n g e s t i m a t e d b y n ew m e t h o d s , u s i n g m o r e c u r r e n t d a t a . Th i s c r e a t e s a b r e a k in t h e s e r i e s , a n d u s er s a r e a d vi s e d t o e xe r c i s e c a u t i o n w h e n m a k i n g c o m p a r i s o n s o v e r t i m e . So u r c e : U .S . De p a r t m e n t o f La b o r , B u r e a u o f La b o r St a t i s t i c s . ' 4 .1 - 9 .8 — 4 .7 - 2 5 .8 — — 3 .9 2 .9 - 8 .8 - 2 0 .4 — A p r il 1979 179 Ch a r t 7 .— Ci vi l i a n La b o r Fo r c e I n d e x, 19 72 = 10 0 Ch a r t 8 .— Ci vi l i a n Em p l o y m e n t I n d e x, 19 72 = 10 0 Ch a r t 9 .— Un e m p l o y m e n t Rat e Ch a r t 10 .— In d u s t r i a l Co m p o s i t i o n o< No n a g r i c u l t u r a l Em p l o y m e n t : Ma s s a c h u se t t s Pe r c e n t M illi o n s S TA TE Q U A R T E R L Y E C O N O M IC 180 DEVELO PM ENTS C o m m er cia l B a n k in g D u e to ch a ng es in th e d a ta re p o rtin g p ra c tic e s o f th e F e de ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c o m m erc ia l b a n k in g d a ta a rriv e d to o la te fo r this re p o rt to in clu de th e com m e rcial b a n k in g discussion a n d th e c om m e rc ia l b a n k in g c h a rts 11, 12, a n d 13. T he c o m m erc ia l b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Mass ac husetts Un i t e d St a t e s U.S . St a t e 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 : IV 6 10 ,5 0 2 n .a . 10 ,0 4 3 10 ,2 5 1 1 9 7 7 :1 V 19 78 :1V 19 78 :111 Pe r c e n t c h a n g e 2 1 M i l l i o n s o f d o l l a r s , n o t sea s o n a l l y ad j us te d ' To t a l l o a n s ....................................................................................................................................................... St a t e U .S . 19 77:111 — 11,2 2 6 n .a . 16 .3 11.8 — — — — Co m m e r c i a l a n d i n d u s t r i a l ...................................................................................................................................... 19 6 ,3 17 n .a . 4 ,5 6 3 4 ,6 15 4 ,9 3 1 n .a . 14 .2 8 .1 — Lo a n s t o i n d i v i d u a l s ..................................................................................................................................................... 14 0 ,5 9 9 n .a . 2 ,19 3 2 ,2 5 4 2 ,4 6 3 n .a . 2 0 .2 12 .3 — Real e s t a t e ............................................................................................................................................................................. 177,9 3 5 n .a . 2 ,3 16 2 ,3 74 2 ,7 7 7 n .a . 19 .9 19 .9 — — Re s i d e n t i a l ....................................................................................................................................................................... 10 1,2 3 6 n .a . 1,13 5 1,19 0 1,4 5 7 n .a . 2 1.3 2 8 .4 — — Fa r m s ................................................................................................................................................................................... 7 ,7 3 1 n .a . 2 2 3 n .a . 10 .7 2 0 .0 — — Ot h e r .................................................................................................................................................................................. 6 8 ,9 6 8 n .a . 1,18 0 1,18 1 1,3 18 n .a . 19 .0 1 1 .7 — — Fa r m s , e xc l u d i n g r eal e s t a t e .................................................................................................................................. 2 5 ,70 4 n .a . 10 10 28 n .a . 6 .8 18 8 .8 Ot h e r .......................................................................................................................................................................................... 6 9 ,9 4 7 n .a . 962 997 1,0 2 7 n .a . 8 .0 6 .7 To t a l d e p o s i t s ................................................................................................................................................ 9 2 5 ,5 11 n .a . 15 ,3 3 1 16 ,3 3 4 16 ,6 5 2 n .a . 11.5 8 .6 — — — — — — D e m a n d .................................................................................................................................................................................. 3 77,6 8 3 n .a . 7,15 8 8 ,0 4 4 7,73 5 n .a . 10 .2 8 .1 Ti m e a n d s a v i n g s ............................................................................................................................................................. 5 4 7,8 2 8 n .a . 8 ,173 8 ,2 9 0 8 ,9 17 n .a . 12 .3 9 .1 1. De t a i l m ay n ot ad d to tota l s bec ause of r o u n d i n g . 2 . Ba s e d o n u n r o u n d e d d a t a . So u r c e : U .S . Fe d e r a l De p o s i t I n s u r a n c e Co r p o r a t i o n . --------- . — — — C o n str u c tio n F ro m 1977:IV to 1978:1V, th e to ta l v a lu a tio n o f c o n s tru c tio n c o n tra c ts in c re a se d 22.1 p erc e n t in th e S ta te a n d 16.8 p e rc e n t in th e N a tio n (ta b le 6). In 1978:1 V, c o n tra c ts in th e S ta te to ta le d $884 m illion, fo r a gain o ve r th e y ea r o f $160 m illion. W ell o v e r o n e -h a lf o f M a ssa c h u s e tts’ gain in th e to ta l v a lu a tio n o f c o n tra c ts w a s tra c e a b le to tw o u n u su a lly large c o n tra c ts in 1978:1 V in M id dlesex C o u n ty — a $44 m illion h o sp ita l a n d a $47 m illion ra ilro a d tu n n e l. I f the se c o n tra c ts a re exclude d, th e to ta l v a lu a tio n o f c o n tra c ts in th e S ta te w ou ld have inc re a se d 9.5 p erc e n t. N a tio n a l c o n stru c tio n co sts in c re a se d a b o u t 13 p erc e n t; if th is incre ase is re p re se n ta tiv e o f c ost c ha n ge s in M a ssa c h u se tts, th e real v a lu a tio n o f c o n s tru c tio n c o n tra c ts (in c lu d in g th e M idd lesex C o u n ty c o n tra c ts ) inc re a se d a b o u t 9 p e rc e n t versus a b o u t 4 p e rc e n t n a tio n a lly . P a rtly reflecting th e h o sp ita l c o n tra c t, th e v a lu a tio n o f n o n re sid e n tia l c o n tra c ts in c re ased 69.6 p e rc e n t ($111 m illion) versus a 15.8-percent g a in n atio n a lly . O n ly fo u r S ta te s h a d large r gains. Ch a r t 14 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a ti o n I n d e x , 19 7 6 = 1 0 0 C o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o use k e e p in g u n its inc re a se d only 0.8 p e rc e n t in v a lu a tio n in th e S ta te , in s h a rp c o n tra s t to a ga in o f 14.6 p e rc e n t in th e N a tio n . T h irty -n in e S tates re gistered la rg e r increases. T h e n u m b e r o f dw elling u n its s ta rte d w as dow n 1.0 p erc e n t. N a tio n a lly , th e n u m b e r o f dw elling u n its s ta rte d w as alm o st u n c h a n g e d a t a h ig h level. In 1978:IV, 5,541 d w elling u n its w ere sta rte d in th e S ta te , fo r a dec line o ve r th e y e a r o f 57 u n its. T h e v a lu a tio n o f re sid e ntia l h ou se k e e p in g c o n tra c ts in c re ased 20.4 p e rc e n t in th e S ta te versus 15.6 p e rc e n t in th e N a tio n . Ch a r t 15 .— Co n s t r u c t i o n Co n t r a c t s — Va l u a t i o n o f Co n t r a c t s b y Ty p e : Mas sac hu sett s M il li on $ Ch a r t Pe r c e n t T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts in c re ased o nly 2.2 p e rc e n t in M a ssa c h u se tts versus an in cre ase o f 22.2 p e rc e n t n a tio n a lly . E xcluding th e ra ilro a d tu n n e l c o n tra c t, th e v a lu a tio n o f n o n b u ild in g c o n tra c ts w ould h av e dec line d n e a rly 13 p erc e n t. S tre e t a n d h ighw a y c o n tra c ts declined 65.3 p e rc e n t in v a lu a tio n versus a dec line o f 16.3 p e rc e n t in th e N a tio n . 16 .— Co n s t r u c t i o n Co n t r a c t s : Va l u a t i o n o f Co n t r a c t s an d Nu m b e r o f Dw e l l i n g Un i t s St a r t e d , Pe r c e n t Ch a n g e , 19 77:1V — 19 78 :1V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Mass ac hus ett s Un i t e d St a t e s 19 77:1V 19 78 :1V Fo u r t h Qu a r t e r , 19 78 ’ 19 77:111 19 77:1 V 19 78 :111 St a t e U.S . 1 9 7 7 :1 V - 19 78 :111 19 78 :1V 19 78 :1V Pe r c e n t c h a n g e ’ No t s e a s o n al l y a d j u s t e d To t a l v a l u a t i o n o f c o n t r a c t s ............................................................................................................... Re s i d en t i al St a t e U .S . 19 77:111— 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 70 6 ,5 77 72 3 ,5 12 9 1 7 ,1 1 9 8 8 3 ,72 6 14 .5 2 9 .8 16 .8 2 2 .1 7 ,70 7,9 8 7 8 ,8 3 2 ,3 5 3 2 3 7,0 2 0 2 14 ,9 9 8 2 8 1,5 76 2 16 ,73 3 16 .8 18 .8 14 .6 .8 h ous ek eep in g, ad d iti on s and alte ra ti on s: Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. Ml o t h e r c o n t r a c t s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 6 2 ,78 9 5 6 ,9 2 8 1,2 0 7 1,2 3 0 1,4 0 4 1,0 3 4 4 .4 16 .3 - 9 .3 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 1,2 0 5 ,12 4 3 6 ,6 2 7,4 2 0 4 6 9 ,5 5 7 5 0 8 ,5 14 6 3 5 ,5 4 3 6 6 6 ,9 9 3 14 .0 3 5 .3 1 7 .4 - 1 5 .9 3 1.2 Fl o o r ar ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 8 1,4 5 3 9 71,5 9 6 10 ,74 9 11,9 4 7 12 ,4 79 14 ,3 6 8 10 .8 16 .1 10 .2 2 0 .3 Re s i d e n t i a l h o u s e k e e p i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 14 ,8 2 5 14 ,19 2 12 1 15 6 12 8 12 7 - 5 .1 5 .8 - 4 .3 Nu m b e r o f d w e l l i n g u n i t s ............................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 5 ,0 0 0 5 ,5 9 8 6 ,3 8 7 5 ,5 4 1 1.0 2 7 .7 - .6 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 14 ,8 79 ,5 9 6 17,19 8 ,5 18 18 0 ,4 6 5 19 5 ,0 16 2 4 4 ,8 8 7 2 3 4 ,8 8 8 15 .3 3 5 .7 15 .6 2 0 .4 Fl o o r ar e a ( t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 5 79 ,73 3 6 4 1,79 6 6 ,0 9 2 6 ,6 3 0 7 ,8 7 4 7.0 5 0 10 .3 2 9 .3 10 .7 6 .3 - 1 8 .6 1.0 - Re s i d e n t i a l n o n h o u s e k e e p i n g : - .4 Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 50 7 505 15 8 13 12 - 10 .0 - 1 3 .3 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 3 3 8 ,6 3 7 4 9 0 ,2 79 5 ,0 10 1,2 9 4 9 ,6 6 6 4 ,78 8 9 .4 9 2 .9 4 4 .8 2 70 .0 5 0 .0 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 8 ,4 6 7 10 ,5 6 0 12 2 32 242 42 - .7 9 8 .8 2 4 .7 2 9 .1 No n r e s i d e n t i a l : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 3 0 ,75 6 2 7,0 5 5 5 89 6 14 568 543 - 2 .5 - 3 .6 - 1 2 .0 Va l u a t i o n ( t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 9 ,3 3 4 ,4 15 10 ,8 10 ,76 9 14 8 ,8 18 16 0 ,6 16 16 1,12 6 2 72 ,4 5 1 2 7.6 8 .3 15 .8 - 1 1 .6 6 9 .6 Fl o o r a r ea (t h o u s a n d s o f s q u a r e f e e t ) ............................................................................................... 2 9 3 ,2 5 3 3 19 ,2 4 0 4 ,5 3 6 5 ,2 8 5 4 ,3 6 3 7,2 76 12 .2 - 3 .8 8 .9 3 7.7 2 2 .4 4 4 .2 - 9 .1 — 2 2 .1 - .1 6 2 .5 2 2 .2 2 .2 No n b u i l d i n g : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 16 ,70 1 15 ,176 48 2 45 2 695 352 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 6 ,6 5 2 ,4 76 8 ,12 7,8 5 4 13 5 ,2 6 4 15 1,5 8 8 2 19 ,8 6 4 15 4 ,8 6 6 St r e e t s a n d Hi g h w a y s : Nu m b e r o f c o n t r a c t s ........................................................................................................................................ 4 ,9 8 6 4 ,0 9 9 13 4 14 5 15 1 71 9 .3 12 .7 - 1 7 .8 - 5 1 .0 Va l u a t i o n (t h o u s a n d s o f d o l l a r s ) ............................................................................................................. 2 ,3 0 8 ,6 8 1 1,9 3 1,3 4 1 3 7,9 6 0 6 0 ,6 9 8 5 8 ,5 4 3 2 1,0 3 6 3 .0 5 4 .2 - 1 6 .3 - 6 5 .3 1. Co n t r a c t s s t a r t e d o r e xp e c t e d t o s t a r t w i t h i n 6 0 d a ys . So u r c e : F. W . Do d g e Di v i s i o n , M c Gr a w - Hi l l I n f o r m a t i o n Sy s t e m s Co m p a n y . 2 . Pe r c e n t c h an g es f o r f l o o r ar ea b ase d o n u n r o u n d e d d a t a . N O T E.— De t a i l f o r f l o o r ar ea d a t a m a y n o t a d d t o t o t a l s b e c a u se o f r o u n d i n g . R e ta il S a le s R e ta il sales in M a ssa c h u s e tts to ta le d $5.8 b illio n in 1978:IV, u p 13.2 p e rc e n t ($677 m illion ) since 1977:IV , c o m p a re d w ith an 11.2-perc en t n a tio n a l in cre ase (ta b le 7). In 1978:IV, n o n d u ra b le g o o d s a c c o u n te d fo r $4.1 b illio n, a n d d u ra b le g o o d s a c c o u n te d fo r $1.7 billion . T A B LE 7 — Re t a i l Sa l e s , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Un i t e d St a t e s Mass ac hus ett s U.S . St a t e U.S . 19 77:111— 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 M i l l i o n s o f d o l l ar s , n ot season al l y ad j u s ted St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an ge Re t a i l s a l e s ....................................................................................................................................................... 19 7,0 3 0 2 19 ,0 2 0 4 ,5 15 5 ,13 6 5 ,0 8 4 5 ,8 13 10 .3 Du r a b l e g o o d s ............................................................................................................................................................. 6 2 ,0 6 5 71,5 7 3 n .a . n .a . 1,5 6 0 1 ,7 4 7 1 1.8 — 15 .3 — No n d u r a b l e g o o d s ...................................................................................................................................................... 13 4 ,9 6 5 14 7,4 4 7 n .a . n .a . 3 ,5 2 4 4 ,0 6 6 9 .6 — 9 .2 — n .a .: Da t a n o t a va i l a b l e . 12 .6 1 1.2 13 .2 So u r c e : U .S . De p a r t m e n t o f Co m m e r c e , Bu r e a u o f Ce n s u s . T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d M a s s a c h u s e t t s Th r o u g h Fo u r t h Qu a r t e r , 19 78 Mas s ac hu s et ts Un i t e d St a t e s U .S . St a t e U .S . 19 77:1V 19 78 :1V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 10 9 ,4 11 n .i . 2 ,2 8 9 19 78 :1V 19 78 :111 Pe r c e n t c h an g e No t s e a s o n a l l y a d j u s t e d Ne w b u s i n e s s i n c o r p o r a t i o n s ............................................................................................................. St a t e 19 7 7:1V — 1 9 7 7 :1 1 1 - 2 ,5 0 4 2 ,4 14 n .a . 8 .2 5 .5 — — — To t a l n u m b e r o f b u s i n e s s f a i l u r e s ................................................................................................. 1,6 8 4 n .a . 81 61 53 n .a . - 9 .5 - 3 4 .6 — Cu r r e n t l i a b i l i t i e s ( t h o u s a n d s o f d o l l a r s ) ..................................................................................................... 4 8 4 ,2 9 6 n .a . 16 ,74 9 13 ,10 5 11,7 8 2 n .a . - 4 4 .2 - 2 9 .7 — — Av e r a g e l i a b i l i t y p e r f a i l u r e ( t h o u s a n d s o f d o l l a r s ) .............................................................................. 28 8 n .a . 207 2 15 222 n .a . - 3 8 .4 7.2 — — Bu s i n e s s f a i l u r e s b y i n d u s t r y M i n i n g a n d m a n u f a c t u r i n g ...................................................................................................................................... 248 n .a . 8 11 6 n .a . - 1 0 .1 — 2 5 .0 C o n s t r u c t i o n ....................................................................................................................................................................... 3 19 n .a . 13 6 11 n .a . 1.0 - 1 5 .4 W h o l e s a l e t r a d e ................................................................................................................................................................. 19 1 n .a . 14 5 8 n .a . — 2 7.1 - 4 2 .9 Re t a i l t r a d e ........................................................................................................................................................................... 688 n .a . 33 35 20 n .a . - 4 .2 - 3 9 .4 Co m m e r c i a l s e r v i c e s ...................................................................................................................................................... 23 8 n .a . 13 4 8 n .a . - 2 4 .0 - 3 8 .5 — — — — — — — — — — n .a .: Da t a n o t a va i l a b l e . So u r c e : Du n & Br a d s t r e e t, In c . N O T E.- T h i s t a b l e m a y n o t b e r e p r o d u c e d w i t h o u t t h e p e r m i s s i o n o f Du n & B r a d s t r e e t , I n c . A p r il 183 1979 Personal income Consumer prices Employment Unemployment Construction lion — L a rg e ga in in v a lu a tio n o f n o n b u ild in g c o n tra c ts — N u m b e r o f d w e lling -u nit s ta rts up 14.3% vs. little c h a n g e in U .S ., to 17,352 Retail sales — U p 14.6% vs. 11.2% in U .S ., to $10.0 billion T A B LE 1 — Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 Mic higan Un i t e d St a t e s U.S . St a t e U .S . 19 77:111 — 19 7 7: I V 19 78 : I V 19 77:111 19 77:1V 19 78 :111 19 78 :1V 19 78 :111 Al l i n d i c a t o r s , e xc e p t i n c o m e , n o t s e a s o n a l l y a d j u s t e d St a t e 1 9 7 7 :1 V 19 78 :1V Pe r c e n t c h an ge To t a l p e r so n al i n c o m e (m i l l i o n s o f d o l l a r s ) ............................................................................................... 1,5 8 3 ,5 0 8 1,78 2 ,5 19 70 ,6 6 0 71,6 3 5 77 ,6 18 8 1,3 9 7 12 .4 9 .8 12.6 13 .6 To t a l w ag e s a n d s al a r i e s (m i l l i o n s o f d o l l a r s ) ........................................................................................... 1,0 13 ,2 16 1,14 0 ,6 9 6 4 7,4 6 1 4 7 ,9 17 5 2 ,0 3 3 5 4 ,9 6 9 12.1 9 .6 12.6 14 .7 Ci v i l i a n e m p l o y m e n t ( t h o u s a n d s ) ...................................................................................................................... 9 2 ,4 4 2 9 6 ,0 10 3 ,79 1 3 ,8 70 3 ,9 0 7 3 ,9 6 2 4 .1 3 .0 3 .9 2 .4 Un e m p l o y m e n t ( t h o u s a n d s ) .................................................................................................................................. 6 ,14 9 5 ,6 0 5 353 29 5 29 6 26 5 - 1 6 .1 - 8 .8 - 1 0 .0 6.2 Pe r c e n t u n e m p l o y e d ( u n e m p l o y m e n t / l a b o r f o r c e ) .............................................................................. To t a l l o a n s (m i l l i o n s o f d o l l a r s ) .......................................................................................................................... 6 10 ,5 0 2 . - 9 .8 — — 5 .5 8 .5 7 .1 7.0 6 .3 n .a . 2 2 ,8 0 6 2 3 ,5 9 7 2 6 ,0 2 1 n .a . 16 .3 — — 14 .1 — — — To t a l d e p o s i t s (m i l l i o n s o f d o l l a r s ) ................................................................................................................... 9 2 5 ,5 11 n .a . 3 4 ,6 0 0 3 6 ,0 9 4 3 8 ,10 9 n .a . 11.5 10.1 To t a l va l u a t i o n o f c o n s t r u c t i o n c o n t r a c t s ( t h o u s a n d s o f d o l l a r s ) ............................................. 3 8 ,9 13 ,111 4 5 ,4 5 9 ,773 1,5 9 4 ,5 6 7 1,5 4 6 ,9 2 1 2 ,3 6 8 ,5 4 0 1,6 9 7,6 4 1 14 .5 4 8 .5 16 .8 9 .7 Dw e l l i n g u n i t s s t a r t e d ( n u m b e r ) ........................................................................................................................ 4 4 5 ,772 4 4 3 ,0 75 18 ,3 17 15 ,18 5 17,3 3 5 17,3 5 2 - 5 .4 -.6 14 .3 To t a l r e t a i l s al e s (m i l l i o n s o f d o l l a r s ) ............................................................................................................. 19 7,0 3 0 2 19 ,0 2 0 7,4 5 7 8 ,74 7 8 ,9 2 3 10 ,0 2 8 Ne w b u s i n e s s i n c o r p o r a t i o n s ( n u m b e r ) ......................................................................................................... 10 9 ,4 11 n .a . 3 ,4 6 6 3 ,4 6 9 3 ,6 4 9 n .a . Bu s i n e s s f a i l u r e s ( n u m b e r ) ............................................................................................... ................................... 1,6 8 4 n .a . 95 37 n .a . 18 4 .0 19 6 .4 2 0 1.4 112 1.0 10 .3 8.2 - 9 .5 — 11.2 19 .7 5 .3 - 6 7 .0 14 .6 — — — — Co n s u m e r Pr i c e I n d e x ( 1 9 6 7 = 1 0 0 ) : U .S . c i t y a v e r a g e ......................................................................................................................................................... D e t r o i t ........................................................................................................................................................................ n .a .: Da t a n o t a va i l a b l e . So u r c e : Se e t a b l e s 2 t h r o u g h 8 . 18 5 .3 — 201.8 — 7.9 18 2 .6 — 8 .9 7.6 1 9 .5 STATE Q UARTER LY 184 E C O N O M IC DEVELOPM ENTS A n a ly s is P e r so n a l In c o m e T o ta l p ersonal incom e (se aso na lly a d ju ste d a t a n n u a l ra te s) inc re a se d 13.6 p e rc e n t from 1977:1V to 1978:IV, 1.0 p e rc e n ta g e p o in t m o re th a n in th e N a tio n (ta b le 2). In 1978:IV, th e S ta te ’s p e rso n a l in c o m e to ta le d $81.4 b illion , for a y e a r-to -y e a r in c re a se o f $9.8 billion. W a ge and sa lary disbursem ents (pa y ro lls) increased 14.7 p e rc e n t in M ich iga n versus 12.6 p e rc e n t in th e N a tio n . In 1978:IV, p ay ro lls to ta le d $55.0 billion, up $7.1 b illio n since 1977:IV. A m o n g all S ta tes, M ic h ig a n ’s in crease ra n k e d 12th. S ince th e last n a tio n a l bu sine ss cycle p ea k (1973:IV ), M ic h ig a n ’s e c o n o m y h as inc re a se d so m ew h a t slow ly; th e in crease in n o n fa rm in c om e w as 4 p erc e n t less th a n n a tio n a lly , ra n k in g M ich iga n 37th a m o n g all S tates. M a n u fa c tu rin g p a y ro lls in c re a se d 17.8 p e rc e n t in th e S ta te v ersu s 13.3 p e rc e n t in th e N a tio n . S tre n g th e x te nd e d to b o th d u ra b le a n d n o n d u ra b le g o od s. D u ra b le g o o d s m a n u fa c tu rin g p ay ro lls inc re a se d 18.0 p erc e n t, 2.8 p e rc en tag e p o in ts m o re th a n in th e N a tio n . T h e in crease, w hich re flected th e re b o u n d in a u to m o b ile p r o d u c tio n , w as p a rtic u la rly im p o rta n t in a s m u c h as d u ra b le s p a y ro lls a c c o u n te d fo r 37.6 p e rc e n t o f all p a y ro lls in M ic h ig a n in 1978:1 V, c o m p a re d w ith a n a tio n a l w eight o f 17.8 p erc e n t. A m o n g all S tates, M ic h ig a n ’s in cre ase in d u ra b le g o o d s p ay ro lls ra n k e d 14th. C onsum er prices from 1977:1V to 1978:1V increased 9.5 p e rc e n t in th e D e tr o it m e tro p o lita n a re a , a n in cre a se th a t w as well a b o v e th e n a tio n a l in c re a se o f 8.9 p e rc e n t (ta b le 3). I f D e tr o it’s index is used as a n in d ic a to r fo r p rice m ov em en ts in th e S ta te , re al to ta l p e rso n a l in co m e in M ich iga n in c re a se d 4.1 p erc e n t from y e a r to y e a r versus 3.7 p e rc e n t na tio na lly . Ch a r t P riv a te service-type p ay ro lls in c rea se d 13.1 pe rc e n t in b o th th e S ta te a n d N a tio n . T h e in cre ase in tra n s p o rta tio n -c o m m u n ic a tio n -p u b lic u tilitie s p a y ro lls w as 15.1 p e rc e n t v ersus 11.3 p erc e n t in th e N a tio n . T h e increases in all o th e r c o m p o n e n ts o f th e p riv a te service-type g ro u p w ere so m e w h a t be low incre ases in c o rre sp o n d in g in d u strie s n a tio n a lly . C o n s tru c tio n p ay ro lls inc re a se d 25.3 p e rc e n t in th e S ta te v ersu s 20.1 p e rc e n t in th e N a tio n . 1 .— Pe r s o n al I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 19 7 8 :I V [ Se a s o n a l l y a d j u s t e d ] Pe r c e n t In c o n tra s t, th e in cre ase in to ta l g o v e rn m e n t p ay ro lls w as sm aller in M ich iga n th a n in th e N a tio n ; th e incre ases in b o th F e d e ra l G o v e rn m e n t a n d S ta te a n d local g o v e rn m e n t p a y ro lls w ere less in th e S ta te th a n n atio n a lly . W ith th e S ta te a n d n a tio n a l ec on om ie s c o n tin u in g to e x p a n d , S ta te u n e m p lo y m e n t in su ra n c e bene fits dec line d 32.3 p erc e n t in M ich iga n a n d 30.3 p e rc e n t in th e N a tio n . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e s , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 19 7 8 :I V Pe r c e n t □ Un i t e d St a t e s De t r o i t To t a l Pe r s o n a l M an u fac tu rin g Pr i v a t e Go v e r n m e n t In c o m e W a g e s a n d Sa l a r i e s S e r v i c e -t y p e W a g e s a n d Sa l a r i e s W a g e s a n d Sa l a r i e s C h a r t 3 .— To t a l Pe r s o n a l In c om e Ch a r t 4 .— I n d u s t r i a l C o m p o s i t i o n o f W a g e s a n d [ Se a s o n a l l y a d j u s t e d ] Sa l a r i e s : M i c h i g a n [ Se a s o n a l l y a d j u s t e d ] Ind e x, 1 9 7 2 = 1 0 0 B illio n $ T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 U n ite d S ta te s US. M ic h ig a n S ta te U.S . 1 9 7 7 :1 1 1 1 9 7 7:1V 1 9 7 8:1V 1977:111 1 97 7:1V 1978:111 1 9 7 8:1V 1978:111 M illio n s o f d o lla r s , s e a s o n a lly a d ju s te d a t a n n u a l r a te s ' Tot al per sonal i n c o m e ..................................................... 1 .5 8 3 . 5 0 8 1 .7 8 2 .5 1 9 3 1 ,2 2 4 3 9 ,4 5 1 F a r m p e r s o n a l in c o m e ............................................................. N o n fa r m p e r s o n a l in c o m e ........................................................ Tot al per sonal i n c o m e ............................................................................ W age a n d s a la r y d is b u r s e m e n ts ............................................ 638 7 7 .6 1 8 627 8 1 .3 9 7 12 .4 9 .8 12 .6 1 3 .6 729 4 7 .9 2 6 .3 2 6 .3 1 4 .4 7 0 ,1 6 3 7 0 ,9 9 7 7 6 ,9 9 2 8 0 ,6 6 8 1 1 .9 9 .7 1 2 .3 1 3 .6 1 .7 8 2 .5 1 9 7 0 .6 6 0 7 1 .6 3 5 7 7 .6 1 8 8 1 .3 9 7 12 .4 9 .8 12 .6 1 3 .6 1 .0 1 3 .2 1 6 1 .1 4 0 .6 9 6 4 7 .4 6 1 4 7 .9 1 7 5 2 .0 3 3 5 4 .9 6 9 1 2 .1 9 .6 1 2 .6 1 4 .7 1 9 .3 9 6 ,0 1 6 1 1 1 ,7 1 9 6 ,0 4 3 6 ,1 7 0 6 ,8 3 5 7 ,3 6 0 1 7 .0 13 .1 1 6 .4 1 0 5 ,9 5 3 1 2 5 ,9 9 5 3 ,1 1 5 3 ,2 9 3 3 ,5 2 9 3 ,7 1 8 2 1 .5 1 3 .3 1 8 .9 1 2 .9 2 3 ,6 3 6 3 1 ,0 4 4 381 524 510 608 6 6 .6 3 3 .7 3 1 .3 1 6 .0 8 2 ,3 1 7 9 4 ,9 5 1 2 ,7 3 4 2 ,7 6 9 3 ,0 1 9 3 ,1 1 0 1 2 .8 1 0 .4 1 5 .3 1 2 .3 2 1 4 ,9 9 2 2 4 2 ,4 4 2 7 ,8 8 9 8 ,0 5 3 8 ,7 1 9 8 ,9 3 9 123 1 0 .5 1 2 .8 1 1 .0 2 1 5 ,9 4 4 2 3 3 ,7 5 0 8 ,55 1 8 ,6 0 2 9 ,1 8 3 9 ,2 4 8 8 .8 7 .4 8 .2 1 1 ,1 2 8 7 ,7 5 3 676 591 485 400 -2 4 .0 -2 8 .2 -3 0 .3 -3 2 .3 6 2 ,2 1 2 7 1 ,6 1 0 2 ,7 3 1 2 ,7 3 8 3 ,0 5 0 3 ,2 1 3 1 4 .8 1 1 .7 15 .1 1 7 .3 -4 0 1 -4 7 3 332 338 369 375 1 .0 1 3 .2 1 6 1 .1 4 0 .6 9 6 4 7 .4 6 1 4 7 .9 1 7 5 2 .0 3 3 5 4 .9 6 9 12 .1 9 .6 1 2 .6 1 4 .7 7 ,1 7 6 7 ,9 3 9 105 103 106 110 8 .5 1 .6 1 0 .6 6 .7 1 ,0 0 6 ,0 4 0 1 ,1 3 2 ,7 5 7 4 7 ,3 5 6 4 7 ,8 1 4 5 1 ,9 2 7 5 4 ,8 5 8 1 2 .1 9 .7 1 2 .6 1 4 .7 1 4 ,0 4 8 1 8 ,8 1 3 198 186 264 N o n f a r m ................................................................ D iv id e n d s , in te r e s t, a n d r e n t ............................................. T r a n s fe r p a y m e n t s .......................................................... S ta te u n e m p lo y m e n t in s u r a n c e b e n e fit s .................................... Less: p e r s o n a l c o n t r ib u t io n s .................................................. P lu s : r e s id e n c e a d ju s t m e n t ................................................. M in in g .............................................................. ' 1 ,7 4 3 ,0 6 8 F a r m ............................................................................ N o n f a r m .......................................................... 7 1 .6 3 5 1 ,5 5 2 ,2 8 4 P r o p r ie to r s ' in c o m e ............................................................... F a r m ........................................................................... 496 1 9 7 8:1V P e rce n t c h a n g e ' 1 .5 8 3 . 5 0 8 O th e r la b o r in c o m e ............................................................... W age a n d s a la r y d is b u r s e m e n ts ........................................................ 7 0 .6 6 0 S ta te 1 9 7 7 :1 V — C o n s tr u c t io n ................................................................... M a n u f a c tu r i n g .............................................................. D u r a b le g o o d s ...................................................... N o n d u r a b le g o o d s ........................................................ P r iv a te s e r v ic e - t y p e ...................................................................... T r a n s p o r ta tio n , c o m m u n ic a tio n , a n d p u b lic u t i l i t i e s .............................. W h o le s a le a n d r e ta il t r a d e ......................................... F in a n c e , in s u r a n c e , a n d re a l e s t a t e ............................................ S e r v ic e s ......................................................... G o v e r n m e n t ................................................................... F e d e r a l................................................................. S ta te a n d lo c a l .................................................................... O t h e r ................................................................. 7 .5 265 2 6 .5 3 3 .6 3 3 .9 4 2 .9 5 5 ,6 4 8 6 6 ,8 5 8 2 ,0 5 9 2 ,0 9 6 2 ,5 9 2 2 ,6 2 5 19 .1 2 5 .9 20 .1 2 5 .3 2 7 6 ,1 1 2 3 1 2 ,9 7 0 2 0 ,7 1 4 2 0 ,8 7 7 2 2 ,2 5 8 2 4 ,5 9 2 12 .1 7 .5 1 3 .3 1 7 .8 1 7 6 ,2 1 6 2 0 3 ,0 5 3 1 7 ,4 2 8 1 7 ,5 0 6 1 8 ,6 9 5 2 0 ,6 5 9 1 3 .7 7 .3 1 5 .2 1 8 .0 9 9 ,8 9 6 1 0 9 ,9 1 7 3 ,2 8 5 3 ,3 7 1 3 ,5 6 3 3 ,9 3 2 9 .4 8 .5 1 0 .0 1 6 .7 4 5 5 ,7 6 4 5 1 5 ,3 4 8 1 7 ,0 1 5 1 7 ,1 9 6 1 8 ,9 3 1 1 9 ,4 4 4 1 2 .8 1 1 .3 13 .1 13 .1 7 6 ,5 8 4 8 5 ,2 6 4 2 ,5 8 5 2 ,5 7 0 2 ,8 8 3 2 ,9 5 9 1 0 .4 1 1 .5 1 1 .3 15 .1 1 7 0 ,8 8 8 1 9 5 ,0 3 5 6 ,6 8 1 6 ,7 8 1 7 ,5 0 1 7 ,6 9 0 1 3 .6 1 2 .3 14 .1 1 3 .4 5 4 ,4 5 2 6 1 ,6 5 3 1 ,6 8 2 1 ,68 1 1 ,8 6 2 1 ,8 9 4 14 .1 1 0 .7 1 3 .2 1 2 .7 1 5 3 ,8 4 0 1 7 3 ,3 9 6 6 ,0 6 8 6 ,1 6 4 6 ,6 8 4 6 ,9 0 1 1 2 .6 1 0 .2 1 2 .7 1 2 .0 2 0 1 ,2 5 2 2 1 5 ,0 8 3 7 ,2 9 9 7 ,3 8 5 7 ,7 9 7 7 ,8 4 7 6 .3 7 .4 6 .8 6 .9 6 8 ,1 7 6 7 3 ,0 0 3 1 ,0 6 2 1 ,0 9 4 1 ,1 3 0 1 ,1 5 9 7 .3 6 .5 7.1 5 .9 1 3 3 ,0 7 6 1 4 2 ,0 8 0 6 ,2 3 7 6 ,2 9 1 6 ,6 6 6 6 ,6 8 8 7 .5 6 .9 6 .8 6 .3 3 ,2 1 6 3 ,6 8 5 72 75 86 85 1 8 .7 1 8 .4 1 4 .6 1 4 .0 1. D e ta il m a y n o t a d d to to ta l s b e c a u s e o f r o u n d in g . S o u r c e : U .S. D e p a r tm e n t o f C o m m e r c e , B u re a u o f E c o n o m ic A n a ly s is , R e g io n a l E c o n o m ic M e a s u r e m e n t D iv is io n . 2. B a se d o n u n r o u n d e d d a ta. T A B LE 3 .— Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 U n ite d S ta te s M ic h ig a n US. S ta te US. 1 9 7 7 :1 1 1 1 9 7 7 :IV 197 8:1V 1977:111 1 9 7 7:1V 1978:111 1 9 7 8 : IV 1978:111 In d e x , 1 9 6 7 = 1 0 0 , n o t s e a s o n a lly a d ju s te d U.S . c i ty a v e r a g e '........................................................................................................................... 18 5 .3 D e t r o it .......................................................................................................... >• C o n s u m e r P r ic e Ind e x e s a r e s h o w n f o r th e m o s t r e le v a n t S M S A (s ) f o r w h ic h d a ta a r e a v a ila b le . 2 . A ve ra g e f o r 8 5 r e p r e s e n ta tiv e u r b a n a re a s b a se d o n th e 1 9 7 0 C e n su s o f P o p u la tio n . S o u rc e : U .S . D e p a r tm e n t o f L a b o r, B u re a u o f L a b o r S ta tis tic s . 1 9 7 8:1V P e rc e n t ch a n g e 2 0 1.8 7.9 18 2 .6 18 4 .0 S ta te 1 9 7 7 :1 V — 19 6 .4 2 0 1.4 8 .9 7.6 9 .5 N O TE — U n re v is e d d a ta a r e u se d f o r th e q u a r te r s p r io r to J a n u a ry 1 9 7 8 , a n d r e v is e d d a ta a r e u s e d f o r th e s u b s e q u e n t q u a rte r s . U s e rs a r e a d v is e d to e x e r c is e c a u tio n w h e n m a k in g c o m p a r is o n s o v e r tim e S T A T E Q U A R T E R L Y E C O N O M IC 186 DEVELO PM EN TS L abor F orce F ro m 1977:IV to 1978:IV, th e civilian labor force in cre a se d 1.5 p e rce nt, o n ly a b o u o n e -h a lf o f th e N a tio n ’s ra te o f ga in (ta b le 4). Total employment in c re ased 2.4 p erc e n t, 1.5 p e rc e n ta g e p o in ts less th a n in the N a tio n , to 4 .0 m illion . M ic h ig a n ’s in creases w ere a m o n g th e sm allest in th e N a tio n . In D e c em b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in M ich iga n w as 6.7 p erc e n t, d ow n 0.3 p e rc e n ta g e p o in t since D e c e m b e r 1977. D e c em b e r 1978 ra te s in m a jo r m e tro p o lita n a re a s o f th e S ta te ra n g e d from 4.8 p e rc e n t in G r a n d R a p id s to 8.1 p e rc e n t in M u s k e g o n -N o rth S horesM u sk e g o n H e ig hts. In D e tro it, w hich a c c o u n ts fo r a lm o st o n e -h a lf o f M ic h ig a n ’s civilian la b o r force, th e p re lim in a ry u n e m p lo y m e n t ra te in D e c em b e r 1978 w as 6.3 p erc e n t. F ro m D e c e m b e r 1977 to D e c em be r 1978, A n n A rb o r w as th e only m a jo r m e tro p o lita n a re a in th e S ta te to re gister a n in cre ase in th e u n e m p lo y m e n t ra te — 1.9 p e rc e n ta g e p o in ts— to 7.0 p e rce nt. R a te s in th e re m a in in g 10 m a jo r m e tro p o lita n a re a s in th e S ta te de c line d by as m u ch as 1.4 p e rc e n ta g e p o in ts, as in Bay C ity, w he re th e D e c e m b e r 1978 u n e m p lo y m e n t ra te w as 5.5 p erc e n t. W ith th e la b o r fo rce in c re a sin g by a b o u t 63,000 a n d to ta l e m p lo y m e n t inc re a sing by a b o u t 92,000, unemployment dec line d b y betw een 29,000 a n d 30,000, to 265,000. In 1978:IV, th e unemployment rate in M ich ig an w a s 6.3 p erc e n t v ersus 5.5 p e rc e n t in th e N a tio n . O n ly n ine S ta tes— n o n e o f the m in th e G re a t L a ke s re g io n — h a d h ig h e r u n e m p lo y m e n t ra te s. F ro m 1977:IV to 1978:1 V, th e u n e m p lo y m e n t ra te dec line d 0.8 p e rc e n ta g e p o in t in th e S ta te , a b o u t th e sam e as n a tio n a lly . Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : M i c h i g a n Ch a r t 6 .— U n e m p l o y m e n t Ra t e s , 1 9 7 7 : I V - 1 9 7 8 : I V P ercen t ^ 1 9 7 7 :IV J T A B LE 4 .— La b o r Fo r c e , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 M ic h ig a n U n ite d S tates 1 9 7 7:1V 197 8:1V 1977:111 1 9 7 7 :IV 1978:111 Em p l o y e e s o n n o n a g r i c u l t u r a l p a y r o l l s .......................................................................................................................... > 4 ,2 1 0 8 7 ,7 0 8 787 899 3 ,4 1 5 11 3 ,5 1 0 11 S ta te U.S. S ta te U .S. 1977:111— 1 9 7 7 :1 V - 1978:111 1 9 7 8:1V 197 8:1V P e rc e n t ch a n g e 3 T h o u s a n d s o f p e r s o n s , n o t s e a s o n a lly a d ju s te d ' M in in g ......................................................................................................................... 1978:1V 3 ,5 2 6 14 4 .3 3 ,6 1 8 3 .2 3 .1 4 .2 13 8 .2 2 1 .1 1 4 .2 1 7 .5 14 .9 C o n s t r u c t io n ............................................................................................................... 4 ,0 3 2 4 ,4 8 8 141 137 164 1 57 1 0 .4 1 6 .8 1 1 .3 M a n u f a c tu r i n g ............................................................................................................. 1 9 ,9 8 6 2 0 ,7 2 2 1 ,09 7 1 ,1 3 9 1 ,1 1 9 1 ,1 7 2 3 .1 2 .0 3 .7 2 .9 T r a n s p o r ta tio n , c o m m u n ic a tio n , a n d p u b lic u t i l i t i e s ................................................. 4 ,7 6 1 4 ,9 7 1 1 49 149 152 153 3 .8 2 .3 4 .4 2 .7 W h o le s a le a n d r e ta il t r a d e ...................... .................................................................... 1 9 ,1 5 2 2 0 ,0 1 5 703 720 716 726 5 .3 1.9 4 .5 .8 F ina n c e , in s u r a n c e , a n d re a l e s t a te ............................................................................ 4 ,8 5 2 4 ,7 5 6 141 141 1 47 146 4 .8 3 .7 -2 .0 3 .6 S e r v ic e s ....................................................................................................................... 1 5 ,5 3 9 1 6 ,2 1 5 578 58 1 604 613 4 .6 4 .5 4 .4 G o v e r n m e n t ................................................................................................................ 1 5 ,4 3 4 1 5 ,6 5 6 595 632 610 638 2 .1 2 .6 1 .4 3 .2 1 .4 3 .1 Civilia n l a b o r f o r c e 3 ......................................................................................................................................................................................... 9 8 ,5 9 1 T o ta l e m p lo y e d ........................................................................................................... 9 2 ,4 4 2 T o ta l u n e m p lo y e d ....................................................................................................... 6 ,1 4 9 P e rc e n t u n e m p lo y e d .................................................................................................... 6 .2 4 ,1 4 4 4 ,1 6 5 4 ,2 0 2 4 ,2 2 8 9 6 ,0 1 0 3 ,7 9 1 3 ,8 7 0 3 ,9 0 7 3 ,9 6 2 4 .1 5 ,6 0 5 353 295 296 265 - 9 .8 5 .5 8 .5 7 .1 7 .0 6 .3 1 0 1 ,( 1 5 1. D e ta il m a y n o t a d d to to ta l s b e c a u s e o f r o u n d in g . 2. B a se d o n u n r o u n d e d d a ta . 3. B e g in n in g J a n u a ry 1 9 7 8 , th e s e d a ta a r e b e in g e s tim a te d b y n e w m e th o d s , u s in g m o r e c u r r e n t d a ta . T h is c r e a te s a b re a k in th e s e r ie s , a n d u s e r s a r e a d v is e d to e x e r c is e c a u tio n w h e n m a k in g c o m p a r is o n s o v e r tim e . S o u rc e : U .S. D e p a r tm e n t o f L a b o r, B u re a u o f L a b o r S ta tis tic s . — .9 1 .5 2 .4 ’ 3 .9 3 .0 -1 6 .1 — 5 .5 -8 .8 — -1 0 .0 — A p r il 1979 187 Ch a r t 7 .— Ci v i l i a n La b o r Fo r c e Inde», 1 972 = 100 8 .— Ci v i l i a n Em p l o y m e n t Index. 1 9 7 2 = 1 0 0 Ch a r t P ercen t Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t M illio n s 1 0 .— I n d u s t r i a l Co m p o s i t i o n o f No n a g r i c u l t u r a l Em p l o y m e n t : M i c h i g a n 188 S T A T E Q U A R T E R L Y E C O N O M IC DEVELOPM ENTS C o m m er cia l B a n k in g D u e to c ha n g e s in th e d a ta re p o rtin g p ra c tic e s o f th e F e d e ra l D e p o sit In s u ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o late fo r th is re p o rt to in clu de th e c o m m erc ia l b a n k in g discussion a nd th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . 12 T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 M ic h ig a n U n ite d S ta te s 197 7:1V 1 97 8:1V 1977:111 197 7:1V 1978:111 U.S. 6 1 0 ,5 0 2 n .a. 2 2 ,1 0 6 2 3 ,5 9 7 U.S. S ta te 1 9 7 7 :1 V - 1978:111 1 9 7 8:1V 1 9 7 8:1V P e rc e n t c h a n g e ’ M illio n s o f d o lla r s , n o t s e a s o n a lly a d ju s te d 1 T o ta l lo a n s ..................................................................................................... S ta te 1 9 7 7 :1 1 1 - 2 6 ,0 2 1 n .a . 1 6 .3 1 4 .1 — — — C o m m e r c ia l a n d in d u s t r i a l ......................................................................................... 1 9 6 ,3 1 7 n .a. 5 ,5 4 1 5 ,6 6 4 6 ,1 2 8 n.a. 1 4 .2 1 0 .6 — Lo a n s to in d iv i d u a l s ................................................................................................... 1 4 0 ,5 9 9 n .a. 5 ,2 4 7 5 ,4 3 8 6 ,2 4 4 n.a. 2 0 .2 1 9 .0 — — Real e s t a te ................................................................................................................... 1 7 7 ,9 3 5 n .a. 9 ,6 8 9 9 ,9 7 1 1 1 ,0 4 9 n.a. 1 9 .9 1 4 .0 — — R e s id e n tia l............................................................................................................... 1 0 1 ,2 3 6 n .a. 6 ,9 2 1 7 ,1 5 2 7 ,9 1 7 n.a. 2 1 .3 1 4 .4 — — F a r m s ....................................................................................................................... 7 ,7 3 1 n .a. 18 7 198 219 n.a. 1 0 .7 1 7 .0 — — O th e r ....................................................................................................................... 6 8 ,9 6 8 n .a. 2 ,58 1 2 ,6 2 1 2 ,9 1 3 n.a. 1 9 .0 1 2 .9 — — F a rm s , e x c lu d in g re a l e s t a t e ....................................................................................... 2 5 ,7 0 4 n .a. 398 378 411 n.a. 6 .8 3 .3 O th e r ........................................................................... ................................................. 6 9 ,9 4 7 n .a. 1 ,9 3 1 2 ,1 4 7 2 ,1 8 9 n.a. 8 .0 1 3 .4 T o ta l d e p o s it s ................................................................................................ 9 2 5 ,5 1 1 n .a . 3 4 ,6 0 0 3 6 ,0 9 4 3 8 ,1 0 9 n .a. 1 1 .5 — — — — 1 0 .1 — — — — D e m a n d ....................................................................................................................... 3 7 7 ,6 8 3 n .a. 1 0 ,1 4 3 1 1 ,1 0 9 1 1 ,1 7 7 n.a. 1 0 .2 1 0 .2 — T im e a n d s a v i n g s ........................................................................................................ 5 4 7 ,8 2 8 n .a. 2 4 ,4 5 6 2 4 ,9 8 4 2 6 ,9 3 1 n .a. 1 2 .3 10.1 — 1. D e ta il m a y n o t a d d to to ta l s b e c a u s e o f r o u n d in g . 2 . B a se d o n u n r o u n d e d d a ta . S o u rc e : U.S. F e d e ra l D e p o s it In s u r a n c e C o rp o r a tio n . C o n str u c tio n F ro m 1977:1V to 1978:1V, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts inc re a se d 9.7 p e rc e n t in th e S ta te versus 16.8 p e rc e n t in th e N a tio n (ta b le 6). In 1978:1 V, c o n tra c ts in th e S ta te to ta le d $1.7 billion, fo r a g ain o ve r th e y ea r o f $151 m illion. N a tio n a l c o n s tru c tio n co sts inc re a se d a b o u t 13 p e rce nt; if this incre ase is re p re se n ta tiv e o f c o st c ha nges in M ic h ig a n , th e re al v a lu a tio n o f c o n s tru c tio n c o n tra c ts dec line d a b o u t 3 p e rc e n t v ersus a n a tio n a l gain o f a b o u t 4 p ercen t. T h e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts dec lin ed 7.1 p e rc e n t in th e S ta te, in s h a rp c o n tra s t w ith a g ain o f 15.8 p e rc e n t in th e N a tio n . C o n tra c ts fo r re side n tia l h o u sek e ep in g a d d itio n s a n d a lte ra tio n s inc re a se d 8.2 p e rc e n t in v a lu a tio n , 6.4 p e rc e n ta g e p o in ts less th a n n a tio n a lly . T h e v a lu a tio n o f re sid e n tia l h ou se k e e p in g c o n tra c ts in c re a se d 14.5 p e rc e n t in th e S ta te , 1.1 p e rc e n ta g e p o in ts less th a n n a tio n a lly . T he n u m b e r o f dw elling u n its sta rte d inc re a se d 14.3 p e rce nt; o nly nine S tates re gistere d larg e r ga ins. In 1978:IV, 17,352 dw elling u n its w ere sta rte d in M ic h ig a n , fo r a g a in ove r th e y e a r o f 2,167 un its. N a tio n a lly , th e n u m b e r o f dw elling u n its s ta rte d w as a lm o s t u n c h a n g e d a t a high level. T h e v a lu a tio n o f n o n b u ild in g c o n tra c ts inc re a se d 46.1 p e rc e n t in M ic h ig a n versus 22.2 p e rc e n t in th e N a tio n . O nly 12 S ta tes h a d larg e r g ain s. T hese large ga ins w ere re gistered d espite declines in th e v a lu a tio n o f stre e t a n d high w ay c o n tra c ts o f 36.7 p e rc e n t in th e S ta te a n d 16.3 p e rc e n t in th e N a tio n . Ch a r t Ch a r t 1 4 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : Michigan Index, 1 9 7 6 = 1 0 0 B illio n $ Ch a r t Percent 1 5 .— Co n s t r u c t i o n Co n t r a c t s — To t a l Va l u a t i o n 1 6 — Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d Nu m b e r o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 M ic h ig a n U n ite d S tates U.S. S ta te U.S. 1977:111 197 7:1V 1 9 7 8 :IV 1977:111 197 7:1V 1978:111 1 9 7 8:1V 1978:111 N o t s e a s o n a lly a d ju s te d T o ta l v a lu a tio n o f c o n t r a c t s ......................................................................... 1 9 7 8:1V P e rce n 3 8 ,9 1 3 ,1 1 1 4 5 ,4 5 9 ,7 7 3 1 ,5 9 4 ,5 6 7 1 ,5 4 6 ,9 2 1 2 ,3 6 8 ,5 4 0 1 , 6 9 7 ,6 4 1 7 ,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 4 2 5 ,6 0 7 3 2 3 ,2 4 2 4 2 4 ,1 6 3 3 4 9 ,7 7 9 S ta te 1 9 7 7 :1 V - ch a n g e 2 1 4 .5 4 8 .5 1 6 .8 9 .7 1 6 .8 -.3 1 4 .6 8 .2 R e s id e n tia l h o u s e k e e p in g , a d d it io n s a n d a lte r a tio n s : V a lu a tio n ( th o u s a n d s o f d o l la r s ) ........................................................................ A ll o th e r c o n tra c ts : N u m b e r o f c o n t r a c t s .......................................................................................... 6 2 ,7 8 9 5 6 ,9 2 8 2 ,7 4 7 2 ,7 9 7 3 ,0 4 9 2 ,2 6 7 4 .4 1 1 .0 V a lu a tio n ( th o u s a n d s o f d o l la r s ) ........................................................................ 3 1 ,2 0 5 ,1 2 4 3 6 , 6 2 7 ,4 2 0 1 ,1 6 8 ,9 6 0 1 ,2 2 3 ,6 7 9 1 ,9 4 4 ,3 7 7 1 ,3 4 7 ,8 6 2 1 4 .0 6 6 .3 1 7 .4 10.1 F lo o r a re a ( th o u s a n d s o f s q u a re f e e t ) ............................................................... 8 8 1 ,4 5 3 9 7 1 ,5 9 6 3 5 ,6 6 8 3 4 ,6 9 0 3 8 ,5 2 4 3 4 ,7 2 5 1 0 .8 8 .0 1 0 .2 .1 1 4 ,8 2 5 1 4 ,1 9 2 389 453 372 443 -9 .3 -1 8 .9 R e s id e n tia l h o u s e k e e p in g : N u m b e r o f c o n t r a c t s .......................................................................................... - 5 .1 -4 .4 -4 .3 - 2 .2 N u m b e r o f d w e llin g u n i t s ................................................................................... 4 4 5 ,7 7 2 4 4 3 ,0 7 5 1 8 ,3 1 7 1 5 ,1 8 5 1 7 ,3 3 5 1 7 ,3 5 2 1 .0 -5 .4 -.6 1 4 .3 V a lu a tio n ( th o u s a n d s o f d o l la r s ) ........................................................................ 1 4 ,8 7 9 ,5 9 6 1 7 ,1 9 8 ,5 1 8 6 3 7 ,6 9 7 5 3 0 ,0 6 3 6 7 1 ,8 6 1 6 0 7 ,1 7 3 1 5 .3 5 .4 1 5 .6 1 4 .5 F lo o r are a ( th o u s a n d s o f s q u a re f e e t ) ............................................................... 5 7 9 ,7 3 3 6 4 1 ,7 9 6 2 2 ,9 0 1 1 9 ,0 7 0 2 2 ,8 9 9 2 1 ,3 1 6 1 0 .3 .0 1 0 .7 1 1 .8 R e s id e n tia l n o n h o u s e k e e p in g : N u m b e r o f c o n t r a c t s .......................................................................................... 507 505 17 14 16 15 -1 0 .0 - 5 .9 V a lu a tio n ( th o u s a n d s o f d o l la r s ) ........................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 7 9 8 ,1 6 9 9 ,5 9 3 1 3 ,2 0 4 1 1 ,5 2 0 9 .4 6 1 .6 4 4 .8 2 0 .1 F lo o r a re a ( th o u s a n d s o f s q u a re f e e t ) .................................... .......................... 8 ,4 6 7 1 0 ,5 6 0 246 312 419 294 -.7 7 0 .2 2 4 .7 - 5 .6 -1 2 .0 -.4 7.1 N o n re s id e n tia l: N u m b e r o f c o n t r a c t s ........................................................................... : .............. 3 0 ,7 5 6 2 7 ,0 5 5 1 ,4 5 6 1 ,5 5 6 1 ,5 0 6 1 ,3 6 9 -2 .5 3 .4 -1 2 .0 V a lu a tio n ( th o u s a n d s o f d o l la r s ) ........................................................................ 9 ,3 3 4 ,4 1 5 1 0 ,8 1 0 ,7 6 9 3 8 9 ,0 9 5 5 0 7 ,5 7 0 5 6 1 ,5 4 0 4 7 1 ,3 3 6 2 7 .6 4 4 .3 1 5 .8 -7 .1 F lo o r are a ( th o u s a n d s o f s q u a r e f e e t ) ............................................................... 2 9 3 ,2 5 3 3 1 9 ,2 4 0 1 2 ,5 2 1 1 5 ,3 0 7 1 5 ,2 0 6 1 3 ,1 1 5 1 2 .2 2 1 .4 8 .9 -1 4 .3 2 2 .4 N o n b u ild in g : N u m b e r o f c o n t r a c t s .......................................................................................... 1 6 ,7 0 1 1 5 ,1 7 6 885 774 1 ,1 5 5 440 V a lu a tio n ( th o u s a n d s o f d o l la r s ) ........................................................................ 6 ,6 5 2 ,4 7 6 8 ,1 2 7 ,8 5 4 1 3 3 ,9 9 9 1 7 6 ,4 5 3 6 9 7 ,7 7 2 2 5 7 ,8 3 3 3 0 .5 -.1 - 9 .1 -4 3 .2 4 2 0 .7 2 2 .2 4 6 .1 S tr e e ts a n d H ig h w a y s : N u m b e r o f c o n t r a c t s .......................................................................................... 4 ,9 8 6 4 ,0 9 9 313 168 423 105 9 .3 3 5 .1 -1 7 .8 -3 7 .5 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 2 ,3 0 8 ,6 8 1 1 ,9 3 1 ,3 4 1 4 9 ,2 0 2 5 8 ,7 2 7 8 5 ,1 2 7 3 6 ,6 6 4 3 .0 7 3 .0 -1 6 .3 -3 7 .6 1. C o n tr a c ts s ta r te d o r e x p e c te d to s t a r t w ith in 6 0 d a y s . S o u rc e : F. W . D o d g e D iv is io n , M c G r a w - H ill In fo r m a ti o n S y s te m s C o m p a n y. 2. P e rc e n t c h a n g e s f o r f lo o r a re a b a se d o n u n r o u n d e d d a ta . N O T E .— D e ta il f o r fl o o r a re a d a ta m a y n o t a d d to to ta ls b e c a u s e o f r o u n d in g . R e ta il S a le s R e ta il sales in M ic h ig a n to ta le d $10.0 b illio n in 1978:IV, u p 14.6 p e rc e n t ($1.3 billion ) since 1977:IV , c o m p a re d w ith a n 11 .2-percent n a tio n a l in cre ase (ta b le 7). In 1978:IV, n o n d u ra b le g o o d s a c c o u n te d fo r a lm o s t $6.4 b illio n, a n d d u ra b le g o o d s a c c o u n te d fo r a lm o s t $3.7 billion. T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 U n ite d S tates M ic h ig a n U.S. S ta te U.S. 1977:111— 197 7:1V 197 8:1V 1977:111 1 9 7 7:1V 1978:111 197 8:1V 1978:111 M illio n s o f d o lla r s , n o t s e a s o n a lly a d ju s te d S ta te 1 9 7 7 :1 V — 197 8:1V P e rc e n t ch a n g e R e ta il s a le s ..................................................................................................... 1 9 7 ,0 3 0 2 1 9 ,0 2 0 7 ,4 5 7 8 ,7 4 7 8 ,9 2 3 D u r a b le g o o d s ......................................................................................................... 6 2 ,0 6 5 7 1 ,5 7 3 n .a . n .a. 3 ,3 4 8 3 ,6 5 6 1 1 .8 — 1 5 .3 — N o n d u r a b le g o o d s .................................................................................................... 1 3 4 ,9 6 5 1 4 7 ,4 4 7 n .a . n .a . 5 ,5 7 5 6 ,3 7 2 9 .6 — 9 .2 — n .a.: D a ta n o t a v a ila b le . 1 0 ,0 2 8 1 0 .3 1 9 .7 1 1 .2 1 4 .6 S o u rc e : U .S. D e p a r tm e n t o f C o m m e r c e , B u re a u o f C e n su s. T A B LE 8 .— Bu s i n e s s I n c o r p o r a t i o n s a n d Fa i l u r e s , Un i t e d St a t e s a n d M i c h i g a n Th r o u g h Fo u r t h Qu a r t e r , 19 78 M ic h ig a n U n ite d S ta te s S ta te U .S. U.S. 1977:111 — 197 7:1V 197 8:1V 1977:111 1 9 7 7:1V 1978:111 1 9 7 8 : IV 1978:111 197 8:1V P e rc e n N o t s e a s o n a lly a d ju s te d S ta te 1 9 7 7 :1 V — N e w b u s in e s s in c o r p o r a tio n s ........................................................................ 1 0 9 ,4 1 1 n .a . 3 ,4 6 6 3 ,4 6 9 3 ,6 4 9 n .a . 8 .2 5 .3 T o ta l n u m b e r o f b u s in e s s f a il u r e s ................................................................ 1 ,6 8 4 n .a . 112 95 37 n .a. - 9 .5 -6 7 .0 C u rr e n t li a b ilit ie s ( th o u s a n d s o f d o l la r s ) ................................................................... 4 8 4 ,2 9 6 n .a . 2 9 ,9 7 8 1 2 ,3 0 9 8 ,7 5 8 n.a. -4 4 .2 -7 0 .8 A ve ra g e li a b ili ty p e r fa ilu r e ( th o u s a n d s o f d o l la r s ) ................................................... 288 n .a. 268 130 237 n .a. -3 8 .4 -1 1 .6 -1 0 .1 change __ __ — — __ __ — — B u s in e s s fa ilu r e s b y in d u s tr y M in in g a n d m a n u f a c tu r in g ......................................................................................... 248 n .a . 16 5 2 n.a. C o n s t r u c t io n ............................................................................................................... 319 n .a . 17 21 11 n.a. 1 .0 -8 7 .5 -3 5 .3 __ __ — — W h o le s a le t r a d e ........................................................................................................... 191 n .a . 16 11 3 n .a. -2 7 .1 -8 1 .2 — — R e ta il t r a d e .................................................................................................................. 688 n .a . 48 49 15 n.a. - 4 .2 -6 8 .7 — — -5 3 .3 — — C o m m e r c ia l s e r v ic e s ................................................................................................... 238 n .a . 15 9 7 n.a. -2 4 .0 n .a .: D a ta n o t a v a ila b le . S o u rc e : D u n & B r a d s tr e e t, In c . N O T E .- T h is ta b le m a y n o t b e r e p r o d u c e d w it h o u t th e p e r m is s io n o f D u n & B r a d s tr e e t, Inc. A p r il 1979 191 D Consumer prices — U p 11.1% in M in ne a p o lis-S t. P au l vs. 8.9% in U .S. Employment — U p 5.1% vs. 3.9% in U .S ., to a lm o s t 2.0 m illion Unemployment — D o w n 17,000, to 68,000 — R a te d ow n to 3.4% o f la b o r force vs. 5.5% U .S . ra te Construction — T o ta l v a lu a tio n o f c o n tra c ts up 9.0% vs. 16.8% in U .S ., to $902 m illion — W e a kn ess in all m a jo r c o n stru c tio n c a te go rie s in S ta te — N u m b e r o f d w e lling -u n it sta rts d ow n 5.5% vs. little c h a n g e in U .S ., to 9,212 Retail sales — U p 8.6% vs. 11.2% in U .S ., to $4.1 billion T A B LE 1 .— Su m m a r y o f Ec o n o m i c I n d i c a t o r s , Un i t e d St a t e s a n d M i n n e s o t a Th r o u g h Fo u r t h Qu a r t e r , 19 78 M in n e s o ta U n ite d S tates U .S. 1S tate U.S. 1 9 7 7 :1 1 1 197 7:1V 1 97 8:1V 1977:111 1 9 7 7 :IV 978:111 1 9 7 8:1V 1978:111 A ll in d ic a to r s , e x c e p t in c o m e , n o t s e a s o n a lly a d ju s te d S ta te 1 9 7 7 :1 V — 1 9 7 8:1V P e rc e n t ch a n g e T o ta l p e r s o n a l in c o m e ( m ill io n s o f d o l la r s ) ............................................................... 1 ,5 8 3 ,5 0 8 1 ,7 8 2 ,5 1 9 2 8 ,3 6 1 2 9 ,8 5 0 3 1 ,4 9 7 3 2 ,8 7 2 1 2 .4 1 1 .1 1 2 .6 1 0 .1 T o ta l w a ges a rid s a la rie s ( m ill io n s o f d o lla r s ) ............................................................ 1 ,0 1 3 ,2 1 6 1 ,1 4 0 ,6 9 6 1 7 ,7 4 4 1 8 ,1 3 0 2 0 ,0 8 8 2 0 ,8 3 4 1 2 .1 1 3 .2 1 2 .6 1 4 .9 9 2 ,4 4 2 9 6 ,0 1 0 1 ,8 7 1 1 ,8 5 9 1 ,9 6 1 1 ,9 5 3 4 .1 4 .8 3 .9 6 ,1 4 9 5 ,6 0 5 8 7 85 6 8 6 8 4 .4 4 .4 3 .4 3 .4 C iv ilia n e m p lo y m e n t ( t h o u s a n d s ) ............................................................................... U n e m p lo y m e n t ( th o u s a n d s ) ...................................................................................... - 9 .8 - 2 1 .7 — - 8 .8 5 .1 - 2 0 .7 — — — — — — P e rc e n t u n e m p lo y e d ( u n e m p lo y m e n t/la b o r f o r c e ) ................................................... 6 .2 5 .5 T o ta l lo a n s ( m illio n s o f d o l la r s ) ................................................................................. 6 1 0 ,5 0 2 n .a . 1 1 ,8 2 9 1 2 ,1 4 4 1 3 ,8 0 4 n .a . 1 6 .3 1 6 .7 T o ta l d e p o s its ( m illio n s o f d o l l a r s ) ............................................................................ 9 2 5 ,5 1 1 n .a . 1 6 ,6 8 4 1 8 ,0 2 8 1 8 ,8 1 4 n .a . 1 1 .5 1 2 .8 T o ta l v a lu a tio n o f c o n s tr u c tio n c o n t r a c ts ( th o u s a n d s o f d o l la r s ) .............................. 3 8 ,9 1 3 ,1 1 1 1 5 ,4 5 9 ,7 7 3 9 7 4 ,1 1 3 1 1 2 4 ,9 5 2 9 0 2 ,3 5 1 1 4 .5 D w e llin g u n its s ta r te d ( n u m b e r ) ................................................................................ 4 4 5 ,7 7 2 4 4 3 ,0 7 5 1 2 ,0 7 9 9 ,7 4 5 1 1 ,7 0 3 9 ,2 1 2 1 .0 T o ta l r e ta il s a les ( m ill io n s o f d o l l a r s ) ........................................................................ 1 9 7 ,0 3 0 2 1 9 ,0 2 0 3 ,4 6 0 3 ,8 2 0 3 ,7 6 7 4 ,1 4 9 1 0 .3 8 .9 N e w b u s in e s s in c o r p o r a tio n s ( n u m b e r ) ...................................................................... 1 0 9 ,4 1 1 n .a . 1 ,6 0 8 1 ,6 2 1 1 ,7 9 0 n .a . 8 .2 1 1 .3 — — B u s in e s s fa ilu r e s ( n u m b e r ) ........................................................................................ 1 ,6 8 4 n .a . 4 7 3 8 4 4 n .a . - 6 .4 — — _____ _____ 1 8 7 .0 2 0 3 .5 8 2 8 ,0 0 1 - 9 .5 1 5 .5 - 3 1 6 .8 .1 - .6 9 .0 - 5 .5 1 1 .2 8 .6 C o n s u m e r P r ic e In d e x ( 1 9 6 7 = 1 0 0 ) : 1 8 5 .3 U .S. c it y a v e r a g e ...................................................................................................... M in n e a p o lis - S t . P a u l........................................................................................ n .a.: D a ta n o t a v a ila b le . S o u rc e : See ta b le s 2 th ro u g h 8. — 2 0 1 .8 — ____ 1 8 4 .5 _ _ _ 2 0 7 .7 7 .9 — 8 .9 1 0 .3 — 1 1 .1 192 S TA TE Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS A n a ly s is P e r so n a l In c o m e Total personal income (se asona lly a d ju ste d a t a n n u a l ra te s) inc re a se d 10.1 p erc e n t from 1977:IV to 1978:IV, 2.5 p erc e n ta g e p o in ts less th a n n a tio n a lly (ta b le 2). In 1978:1V, M in n e s o ta ’s to ta l p e rso n a l in c o m e w as $32.9 b illio n, fo r a n in cre a se o f $3.0 b illio n since 1977:IV. A m o n g all S ta te s, M in n e s o ta ’s in cre ase ra n k e d 4 6th. M u c h o f th e S ta te ’s relative w e akn ess w as tra c e a b le to fa rm ing . F a rm in co m e dec line d 30.1 p erc en t in M in n e so ta , th e la rge st dec line in th e N a tio n , versus a n in crease o f 26.3 p erc e n t in th e N a tio n . T h e S ta te ’s dec line w as p a rtic u la rly im p o r ta n t in asm u c h as fa rm in co m e a c co u n te d fo r 5.2 p e rc e n t o f M in n e s o ta ’s to ta l in c om e in 1978:IV v ersus a w eight o f 2.2 p e rc e n t in th e N a tio n . N o n fa rm in c o m e in cre a se d 13.7 p e rc e n t in M in n e s o ta , 1.4 p erc e n ta g e p o in ts m o re th a n n a tio n a lly . A m o n g all S tates, M in n e s o ta ’s in cre ase ra n k e d 12th. C h a n g e s in m o st m a jo r n o n fa rm incom e c o m p o n e n ts w ere a b o v e th o s e re g istere d in c o rre sp o n d in g c o m p o n e n ts n atio n a lly . S ince th e last n a tio n a l bu sin ess cycle p ea k (1973:1V), M in n e s o ta ’s n o n fa rm e c o n o m y h as inc re a se d ra pid ly; th e in cre ase in n o n fa rm in c o m e w as 7 p e rc e n t m o re th a n n a tio n a lly , ra n k in g M in n e so ta 25th a m o n g all S tates. Ch a r t 1 .— Pe r s o n a l I n c o m e , Pe r c e n t Ch a n g e , 1 9 7 7 : 1 V - 19 78 :1V Consumer prices from 1977:1 V to 1978:IV inc re a se d 11.1 p erc e n t in the M in ne a p o lis-S t. P au l m e tro p o lita n a re a , well ab o ve th e n a tio n a l ave rag e in crease o f 8.9 p erc e n t (ta b le 3). I f M in ne a p o lis-S t. P a u l’s index is used as a n in d ic a to r fo r p ric e m o v em en ts in th e S ta te, real to ta l p e rso n a l in co m e in M in n e so ta dec lin ed 1.0 p erc e n t from y ea r to y ear versus a n in crease o f 3.7 p erc e n t n atio n a lly . W age and salary disbursements (p a y ro lls) increased 14.9 p erc e n t in M in n e so ta versus 12.6 p erc e n t in th e N a tio n . In 1978:IV, p ay ro lls to ta le d $20.8 billion, up $2.7 billion since 1977:IV. A m o n g all S tates, M in n e s o ta ’s in crease ra n k e d 10th. M ining p ay ro lls inc re a se d s u b sta n tia lly from a n u n u sua lly low level in 1977:1V, w hen they w ere a dv erse ly affec te d by an iro n o re w o rk e rs ’ strike. C o n s tru c tio n p ay ro lls in th e S ta te increased 29.6 p e rc e n t versus 20.1 p e rc e n t in th e N a tio n . M a n u fa c tu rin g p ay ro lls in c re ased 14.3 p e rc e n t in M in n e so ta a n d 13.3 pe rc e n t in th e N a tio n . S tre n g th w as p ro n o u n c e d in n o n d u ra b le g o o d s m a n u fa c tu rin g — up 13.5 p e rc e n t in th e S ta te versus 10.0 p e rc e n t in the N a tio n . In c o n tra s t, th e in cre ase in d u ra b le g o o ds p ay ro lls w as so m ew h a t less in th e S ta te th a n in th e N a tio n . P ay ro lls in th e p riv a te service-type in d u stry g ro u p inc re a se d 14.2 p erc e n t in M in n e s o ta a n d 13.1 p e rc e n t in th e N a tio n . S tre n g th w as p a rtic u la rly p ro n o u n c e d in tra d e a n d in fm a nc e -in su ra nc e -re a l e sta te . In c o n tra s t, th e in cre ase in M in n e so ta in tra n s p o rta tio n -c o m m u n ic a tio n p u blic utilities was well below th a t registered in the N a tio n . [ Se a s o n a l l y a d j u s t e d ] P ercen t F e d e ra l G o v e rn m e n t p a y ro lls in cre a se d m o re ra pid ly in M in n e so ta th a n in th e N a tio n . T h e in cre a se in S ta te a n d local g o v e rn m e n t p ay ro lls w as so m e w h a t below th a t in th e N a tio n . W ith M in n e s o ta ’s n o n fa rm in co m e inc re a sing m o re ra p id ly th a n the N a tio n ’s, S ta te u n e m p lo y m e n t in su ra n c e bene fits d eclined 46.6 p erc e n t in M in n e so ta versus 30.3 p e rc e n t in th e N a tio n . Ch a r t 2 .— Co n s u m e r Pr i c e I n d e x , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V P e rce n t In co m e P erson al In co m e Wages a nd S alaries S e rv ic e -typ e Wages a nd S alaries □ U n ited S tates E r/v l M i n n e a p o li s - S t. Paul C h a r t 3 .— To t a l Pe r s o n a l Inc om e Ch a r t 4 .— I n d u s t r i a l Co m p o s i t i o n o f W a g e s a n d Sa l a r i e s : M i n n e s o t a [ Se a s o n a l l y a d j u s t e d ] [ Se a s o n a l l y a d j u s t e d ] Ind e x, 1 9 7 2 = 1 0 0 B il li o n s T A B LE 2 .— Pe r s o n a l I n c o m e , Un i t e d St a t e s a n d M i n n e s o t a Th r o u g h Fo u r t h Qu a r t e r , 19 78 U li t e d S ta te s M in n e s o ta U.S. S ta te U.S. 1977:111 — 197 7:1V 1 9 7 8:1V 1977:111 1 9 7 7 :IV 1978:111 1 9 7 8:1V 1978:111 M illio n s o f d o lla r s , s e a s o n a lly a d ju s te d a t a n n u a l r a te s 1 T o t a l p e r s o n a l i n c o m e ................................................................................................................................................................................. 1 ,5 8 3 ,5 0 8 F a r m p e r s o n a l in c o m e ................................................................................................. N o n fa r m p e r s o n a l in c o m e .......................................................................................... 3 1 ,2 2 4 1 ,7 8 2 ,5 1 9 S ta te 1977 I V 1 9 ' 8:1V P e rc e n t c h a n g e 1 2 8 ,3 6 1 2 9 ,8 5 0 3 1 ,4 9 7 3 2 ,8 7 2 1 2 .4 1 1 .1 3 9 ,4 5 1 1 ,56 3 2 ,4 3 4 1 ,3 6 4 1 ,7 0 2 4 7 .9 -1 2 .7 2 6 .3 1 2 .6 1 0 .1 -3 0 .1 1 ,5 5 2 ,2 8 4 1 ,7 4 3 ,0 6 8 2 6 ,7 9 9 2 7 ,4 1 6 3 0 ,1 3 2 3 1 ,1 7 0 1 1 .9 1 2 .4 1 2 .3 1 ,5 8 3 ,5 0 8 1 ,7 8 2 ,5 1 9 2 8 ,3 6 1 2 9 ,8 5 0 3 1 ,4 9 7 3 2 ,8 7 2 1 2 .4 1 1 .1 1 2 .6 1 0 .1 1 ,0 1 3 ,2 1 6 1 ,1 4 0 ,6 9 6 1 7 ,7 4 4 1 8 ,1 3 0 2 0 ,0 8 8 2 0 ,8 3 4 12 .1 1 3 .2 1 2 .6 1 4 .9 O th e r la b o r in c o m e ..................................................................................................... 9 6 ,0 1 6 1 1 1 ,7 1 9 1 ,71 0 1 ,7 6 9 2 ,0 3 8 2 ,1 1 5 1 7 .0 1 9 .2 1 6 .4 1 9 .5 P r o p r ie to r s in c o m e ..................................................................................................... 1 0 5 ,9 5 3 1 2 5 ,9 9 5 2 ,8 2 6 3 ,7 1 3 2 ,8 0 0 3 ,1 9 4 2 1 .5 -.9 1 8 .9 -1 4 .0 T o t a l p e r s o n a l i n c o m e .................................................................................................................................................................................. W age a n d s a la ry d is b u r s e m e n ts ................................................................................. 1 3 .7 F a r m ........................................................................................................................ 2 3 ,6 3 6 3 1 ,0 4 4 1 ,39 0 2 ,2 5 9 1 ,1 7 7 1 ,5 0 5 6 6 .6 -1 5 .3 3 1 .3 -3 3 .4 N o n f a r m .................................................................................................................. 8 2 ,3 1 7 9 4 ,9 5 1 1 ,43 6 1 ,4 5 4 1 ,6 2 2 1 ,6 8 9 1 2 .8 1 3 .0 1 5 .3 1 6 .2 D iv id e n d s , in te r e s t, a n d r e n t ....................................................................................... 2 1 4 ,9 9 2 2 4 2 ,4 4 2 3 ,8 9 8 3 ,9 8 8 4 ,3 5 3 4 ,4 7 5 1 2 .3 1 1 .7 1 2 .8 1 2 .2 T r a n s fe r p a y m e n t s ...................................................................................................... 2 1 5 ,9 4 4 2 3 3 ,7 5 0 3 ,4 2 4 3 ,5 0 6 3 ,6 6 2 3 ,7 3 7 8 .8 6 .9 8 .2 6 .6 S ta te u n e m p lo y m e n t in s u r a n c e b e n e f its ................................................................. 1 1 ,1 2 8 7 ,7 5 3 1 77 197 86 105 -2 4 .0 -5 1 .3 -3 0 .3 -4 6 .6 1 4 .8 1 6 .3 1 5 .1 1 7 .9 Less: p e r s o n a l c o n t r ib u t io n s ...................................................................................... 6 2 ,2 1 2 7 1 ,6 1 0 1 ,2 1 4 1 ,2 2 9 1 ,4 1 2 1 ,4 4 9 P lus: r e s id e n c e a d ju s t m e n t......................................................................................... -4 0 1 -4 7 3 -2 8 -2 6 -3 2 -3 4 W age a n d s a la r y d i s b u r s e m e n ts ................................................................................. 1 ,0 1 3 ,2 1 6 1 ,1 4 0 ,6 9 6 1 7 ,7 4 4 1 8 ,1 3 0 2 0 ,0 8 8 2 0 ,8 3 4 1 2 .1 1 3 .2 1 2 .6 14 .9 F a r m ........................................................................................................................ 7 ,1 7 6 7 ,9 3 9 1 67 169 1 81 190 8 .5 8 .2 1 0 .6 1 2 .7 N o n f a r m .................................................................................................................. 1 ,0 0 6 ,0 4 0 1 ,1 3 2 ,7 5 7 1 7 ,5 7 8 1 7 ,9 6 1 1 9 ,9 0 7 2 0 ,6 4 4 1 2 .1 1 3 .3 1 2 .6 1 4 .9 M in in g .................................................................................................................. 1 4 ,0 4 8 1 8 ,8 1 3 1 82 114 338 352 2 6 .5 8 6 .3 3 3 .9 2 1 0 .0 — C o n s tr u c t io n ....................................................................................................... 5 5 ,6 4 8 6 6 ,8 5 8 1 ,0 4 8 1 ,0 5 6 1 ,3 1 0 1 ,3 6 8 1 9 .1 2 5 .0 2 0 .1 2 9 .6 M a n u f a c tu r in g ..................................................................................................... 2 7 6 ,1 1 2 3 1 2 ,9 7 0 4 ,7 1 7 4 ,9 0 8 5 ,4 1 6 5 ,6 0 8 12 .1 1 4 .8 1 3 .3 14 .3 D u r a b le g o o d s ................................................................................................. 1 7 6 ,2 1 6 2 0 3 ,0 5 3 2 ,7 9 0 2 ,9 0 8 3 ,2 6 0 3 ,3 3 8 1 3 .7 1 6 .8 1 5 .2 1 4 .8 N o n d u r a b le g o o d s .......................................................................................... 9 9 ,8 9 6 1 0 9 ,9 1 7 1 ,9 2 7 2 ,0 0 0 2 ,1 5 6 2 ,2 7 0 9 .4 1 1 .9 1 0 ,0 1 3 .5 P r iv a te s e r v ic e - t y p e ............................................................................................ 4 5 5 ,7 6 4 5 1 5 ,3 4 8 8 ,4 6 2 8 ,6 1 9 9 ,4 7 8 9 ,8 4 2 1 2 .8 1 2 .0 13 .1 1 4 .2 T r a n s p o r ta tio n , c o m m u n ic a tio n , a n d p u b lic u t i l i t i e s .................................... 7 6 ,5 8 4 8 5 ,2 6 4 1 ,4 2 2 1 ,47 9 1 ,5 2 9 1 ,6 2 0 1 0 .4 7 .5 1 1 .3 9 .6 W h o le s a le a n d r e ta il t r a d e .............................................................................. 1 7 0 ,8 8 8 1 9 5 ,0 3 5 3 ,4 5 1 3 ,4 9 8 3 ,9 6 2 4 ,1 1 4 1 3 .6 1 4 .8 14 .1 1 7 .6 F in a n c e , in s u ra n c e , a n d re a l e s t a t e ............................................................... 5 4 ,4 5 2 6 1 ,6 5 3 954 974 1 ,0 8 6 1 ,1 1 2 14 .1 1 3 .8 1 3 .2 14 .2 S e r v ic e s ........................................................................................................... 1 5 3 ,8 4 0 1 7 3 ,3 9 6 2 ,6 3 4 2 ,6 6 9 2 ,9 0 1 2 ,9 9 6 1 2 .6 1 0 .1 1 2 .7 1 2 .3 G o v e r n m e n t......................................................................................................... 2 0 1 ,2 5 2 F e d e r a l............................................................................................................ 2 1 5 ,0 8 3 3 ,1 2 1 3 ,2 1 5 3 ,3 0 7 3 ,4 1 7 7 .4 6 .0 6 .9 6 .3 6 8 ,1 7 6 7 3 ,0 0 3 538 565 590 616 7 .3 9 .7 7.1 9 .0 S ta te a n d l o c a l ................................................................................................ 1 3 3 ,0 7 6 1 4 2 ,0 8 0 2 ,5 8 3 2 ,6 5 0 2 ,7 1 7 2 ,8 0 1 7 .5 5 .2 6 .8 5 .7 O t h e r ................................................................................................................... 3 ,2 1 6 3 ,6 8 5 49 50 58 58 1 8 .7 2 0 .1 1 4 .6 1 4 .7 1. D e ta il m a y n o t a d d to to ta l s b e c a u s e o f r o u n d in g . S o u rc e : U.S. D e p a r tm e n t o f C o m m e r c e , B u re a u o f E c o n o m ic A n a ly s is , R e g io n a l E c o n o m ic M e a s u r e m e n t 2 . B a se d o n u n r o u n d e d d a ta . - ............................. D iv is io n . T A B LE 3 — Co n s u m e r Pr i c e I n d e x , Un i t e d St a t e s a n d M i n n e s o t a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 U n ite d S ta te s M in n e s o ta U.S. S ta te U.S. 1 9 7 7 :1 1 1 197 7:1V 1 9 7 8 : IV 1977:111 197 7:1V 1978:111 1 9 7 8 : IV 1978:111 In d e x , 1 9 6 7 = 1 00 , n o t s e a s o n a lly a d ju s te d U . S . c i t y a v e r a g e ’ .................................................................................................................................................................................................. 1 8 5 .3 M in n e a p o lis - S t . P a u l................................................................................................. 1 . C o n s u m e r P r ic e In d e x e s a re s h o w n f o r th e m o s t r e le v a n t S M S A (s ) f o r w h ic h d a ta a re a v a ila b le . 2 . A v e ra g e f o r 8 5 r e p r e s e n ta tiv e u r b a n a re a s ba se d o n th e 1 9 7 0 C e n su s o f P o p u la tio n . S o u r c e : U .S. D e p a r tm e n t o f L a b o r, B u re a u o f L a b o r S ta tis tic s . 1 9 7 8 :1 V P e rc e n t ch a n g e 2 0 1 .8 7 .9 1 8 4 .5 1 8 7 .0 S ta te 1 9 7 7 :1 V — 2 0 3 .5 2 0 7 .7 8 .9 1 0 .3 1 1 .1 N O T E .- U n r e v is e d d a ta a r e u se d f o r th e q u a r te r s p r io r to J a n u a ry 1 9 7 8 , a n d r e v is e d d a ta a r e u se d f o r th e s u b s e q u e n t q u a r te r s . U s e rs a r e a d v is e d to e x e r c is e c a u tio n w h e n m a k in g c o m p a r is o n s o v e r tim e . 194 S T A T E Q U A R T E R L Y E C O N O M IC D EVELO PM EN TS L abor Force F ro m 1977:IV to 1978:1V, la b o r m a rk e t c o n d itio n s in M in n e s o ta w ere stro n g . T h e civilian labor force in cre a se d 4.0 p erc e n t, n e a rly 1 p e rc e n ta g e p o in t m o re th a n in th e N a tio n (ta b le 4). A m o n g all S tates, M in n e s o ta ’s in c re a se ra n k e d 17th. Total employment in c re a se d 5.1 p e rc e n t in th e S ta te , 1.2 p e rc e n ta g e p o in ts m o re th a n in th e N a tio n , to a lm o s t 2.0 m il lion. M in n e s o ta ’s in cre a se , a lo n g w ith th e in crease in K a n sa s, w a s th e large st in th e P la in s re gion . h a d u n e m p lo y m e n t r a te s lo w e r th a n M in n e s o ta ’s. T h e S ta te ’s u n e m p lo y m e n t ra te dec lin ed 1.0 p e rc e n ta g e p o in t fro m y e a r to y ea r versus a d ec line in th e N a tio n o f 0.7 p e rc e n ta g e p o in t. In D e c em b e r 1978, th e p re lim in a ry u n e m p lo y m e n t ra te in th e S ta te w as 3.9 p e rc e n t, d ow n 1.1 p e rc e n ta g e p o in ts since D e c e m b e r 1977. T h e D e c em b e r 1978 ra te in M in ne a p o lis-S t. P au l, w h ic h a c c o u n ts fo r oneh a lf o f th e S ta te ’s la b o r force, w as 2.9 p erc e n t, d o w n 0.8 p erc en tag e p o in t from th e y e a r b e fo re . In D u lu th -S u p e rio r, th e D e c e m b e r 1978 ra te w as 5.0 p erc e n t, d ow n 4.3 p erc e n ta g e p o in ts from th e y e a r b e fo re , w hen a m inin g strik e w as in effect. W ith to ta l e m p lo y m e n t in c re a sin g 94,000 a n d th e la b o r force inc re a sing 7 7 ,0 0 0 , unem ploym ent d e c lin e d 17,000, to 6 8 ,0 00 . In 1978:IV , M in n e s o ta ’s unemployment rate w as 3.4 p e rc e n t versus 5.5 p e rc e n t in th e N a tio n . O n ly five S ta te s— fo u r o f th e m lo c a te d in th e P la ins re g io n — Ch a r t 5 .— La b o r Fo r c e , Em p l o y m e n t , a n d Un e m p l o y m e n t , 19 78 :1V : Ch a r t 6 .— U n e m p l o y m e n t Ra t e s , 1 9 7 7 : I V - 1 9 7 * : I V M innesota M illio n s P ercen t L ab o r F orce E m p lo y m e n t 1977:1V U n e m p loy m e n t 1978:1V T A B LE 4 .— La b o r Fo r' c e , Un i t e d ~St---------a t e s a n d M--i n n e s o t a Th r o u g h Fo u r t h Qu a r t e r . 19 78 ---------- M in n e s o ta U n ite d S tates 1 9 7 7 :1 V 1 9 7 8:1V 1977:111 197 7:1V 1978:111 U.S. S ta te Em p l o y e e s o n n o n a g ric u ltu ra l p a y r o l l s .......................................................................................................................... 8 4 ,2 1 0 8 7 ,7 0 8 899 7 87 1 ,6 1 6 10 1 ,6 4 2 8 S ta te 1 9 7 7 :1 V - 1978:111 197 8:1V 197 8:1V P e r c e n t ch a n g e 3 2 1 T h o u s a n d s o f p e r so n s , n o t s e a s o n a lly a d ju s te d 1 M in in g ......................................................................................................................... U.S. 1977:111— 1 ,7 0 1 1 ,7 3 1 4 .3 5 .3 4 .2 5 .5 19 18 8 .2 9 4 .8 1 4 .2 1 2 7 .5 1 2 .3 C o n s t r u c t io n ............................................................................................................... 4 ,0 3 2 4 ,4 8 8 82 77 92 87 1 0 .4 12 .2 1 1 .3 M a n u f a c tu r i n g ............................................................................................................. 1 9 ,9 8 6 2 0 ,7 2 2 351 344 371 367 3.1 5 .6 3 .7 6 .6 T r a n s p o r ta tio n , c o m m u n ic a tio n , a n d p u b lic u t i l i t i e s ................................................. 4 ,7 6 1 4 ,9 7 1 94 95 93 99 3 .8 4 .4 3 .8 W h o le s a le a n d r e ta il t r a d e .......................................................................................... 1 9 ,1 5 2 2 0 ,0 1 5 410 421 429 438 5 .3 4 .8 4 .5 4.1 F in a n c e , in s u r a n c e , a n d re a l e s t a te ............................................................................ 4 ,8 5 2 4 ,7 5 6 84 85 89 89 4 .8 6 .0 S e r v ic e s ....................................................................................................................... 1 5 ,5 3 9 1 6 ,2 1 5 315 320 333 339 4 .6 5 .9 4 .4 5 .8 G o v e r n m e n t ................................................................................................................ 1 5 ,4 3 4 1 5 ,6 5 6 271 292 275 295 2.1 1.3 1 .4 1.0 4 .0 Civilia n l a b o r f o r c e 3 .......................................................................................................................................................................................... 1 0 1 ,6 1 5 -2 .0 1 ,9 5 8 1 ,9 4 4 2 ,0 2 9 2 ,0 2 1 3 .2 3 .6 3 .1 T o ta l e m p lo y e d ........................................................................................................... 9 2 ,4 4 2 9 6 ,0 1 0 1 ,87 1 1 ,8 5 9 1 ,96 1 1 ,9 5 3 4.1 4 .8 3 .9 T o ta l u n e m p lo y e d ....................................................................................................... 6 ,1 4 9 5 ,6 0 5 87 85 68 68 -9 .8 -2 1 .7 -8 .8 6 .2 5 .5 4 .4 4 .4 3 .4 3 .4 P e r c e n t u n e m p lo y e d .................................................................................................... 9 8 ,5 9 1 -.5 1. D e ta il m a y n o t a d d to to ta ls b e c a u s e o f r o u n d in g . 2. B a se d o n u n r o u n d e d d a ta. 3. B e g in n in g Ja n u a ry 1 9 7 8 , th e s e d a ta a r e b e in g e s tim a te d b y n e w m e th o d s , u s in g m o r e c u r r e n t d a ta . T h is c r e a te s a b r e a k in th e s e r ie s , a n d u s e r s a r e a d v is e d to e x e r c is e c a u tio n w h e n m a k in g c o m p a r is o n s o v e r tim e . S o u rc e : U.S. D e p a r tm e n t o f L a b o r, B u re a u o f L a b o r S ta tis tic s . — — — 5 .4 5 .1 * -2 0 .7 A p r il 1979 195 Ch a r t 7 . — Ci v i l i a n La b o r Fo r c e Index, 1 972 = 1 00 Ch a r t 8 .— Ci v i l i a n Ind e x, 1 9 7 2 = 100 Ch a r t 9 .— U n e m p l o y m e n t Ra t e Ch a r t 1 0 .— I n d u s t r i a l Co m p o s i t i o n Minnesota f>ercent Em p l o y m e n t M illio n s o f No n a g r i c u l t u r a l Em p l o y m e n t : 196 S T A T E Q U A R T E R L Y E C O N O M IC DEVELO PM ENTS C o m m er cia l B a n k in g D u e to c ha n ge s in the d a ta re p o rtin g p ra c tice s o f th e F e d e ra l D e p o sit In su ra n c e C o rp o ra tio n , th e c om m erc ia l b a n k in g d a ta a rriv e d to o la te fo r th is re p o r t to include th e c o m m erc ia l b a n k in g discussion a n d th e c o m m erc ia l b a n k in g c h a rts 11, 12, a n d 13. T h e c o m m erc ia l b a n k in g ta b le 5 is show n below . T A B LE 5 — Co m m e r c i a l B a n k i n g I n d i c a t o r s . Un i t e d St a t e s a n d M i n n e s o t a Th r o u g h Fo u r t h Qu a r t e t , 19 78 U.S. M in n e s o ta U n ite d S ta te s S ta te 197 7:1V 1 9 7 8:1V 1977:111 1 9 7 7 :IV 1978:111 1 9 7 8:1V 1 9 " 7 : IV — 1 978:1V 1 ! 78:111 P e rce n M illio n s o f d o lla r s , n o t s e a s o n a lly a d ju s te d 1 T o ta l lo a n s .................................................................................................... 6 1 0 ,5 0 2 n .a . 1 3 ,8 0 4 n .a . 1 6 .3 1 6 .7 C o m m e r c ia l a n d in d u s t r i a l ......................................................................................... 1 9 6 ,3 1 7 n .a . 3 ,4 8 8 3 ,5 9 4 4 ,1 4 4 n .a . 1 4 .2 1 8 .8 Lo a n s to i n d iv i d u a l s ...................... ............................................................................. 1 4 0 ,5 9 9 n .a . 2 ,4 1 6 2 ,4 4 4 2 ,7 9 2 n .a . 2 0 .2 1 5 .6 Real e s ta te ................................................................................................................... 1 7 7 ,9 3 5 n .a. 3 ,6 5 4 3 ,8 0 2 4 ,2 5 9 n .a . 1 9 .9 1 6 .6 R e s id e n tia l............................................................................................................... 1 0 1 ,2 3 6 n .a. 2 ,4 0 3 2 ,4 8 2 2 ,7 9 2 n .a . 2 1 .3 1 6 .2 F a r m s ....................................................................................................................... 7 ,7 3 1 n .a. 243 248 271 n .a . 10 .7 1 1 .6 O th e r ....................................................................................................................... F a rm s, e x c lu d in g re a l e s t a t e .................................................................. .................... T o ta l d e p o s it s ............................................................................................... 6 8 ,9 6 8 n .a . 1 1 ,8 2 9 1 ,0 0 8 1 2 ,1 4 4 1 ,0 7 2 1 ,1 9 5 n.a. 1 9 .0 1 8 .6 2 5 ,7 0 4 n .a . 1 ,3 6 9 1 ,3 3 7 1 ,5 4 9 n .a . 6 .8 1 3 .2 6 9 ,9 4 7 n .a . 9 01 967 1 ,06 1 n .a . 8 .0 1 7 .7 9 2 5 ,5 1 1 n .a . 1 6 ,6 8 4 1 8 ,0 2 8 1 8 ,8 1 4 n .a . 1 1 .5 1 2 .8 D e m a n d ....................................................................................................................... 3 7 7 ,6 8 3 n .a . 5 ,3 6 2 6 ,2 2 3 5 ,9 6 5 n .a . 1 0 .2 1 1 .2 T im e a n d s a v i n g s ......................................................................................................... 5 4 7 ,8 2 8 n .a. i l , 3 21 1 1 ,8 0 5 1 2 ,8 4 9 n .a . 1 2 .3 1 3 .5 1. D e ta il m a y n o t a d d to to ta l s b e c a u s e o f r o u n d in g . 2. B ased o n u n r o u n d e d d a ta. S o u rc e : U .S. F e d e ra l D e p o s it In s u r a n c e C o rp o ra tio n . S ta te U.S. 1 97 7 :1 1 1 - ch a n g e 2 1 — — — — — — — — — — — — — — — — — — — — — — — — A p r il 1979 197 C o n str u c tio n F ro m 1977:IV to 1978:IV, th e to ta l v a lu a tio n o f c o n stru c tio n c o n tra c ts in c re a se d 9.0 p e rc e n t in th e S ta te versus 16.8 p e rc e n t in th e N a tio n (ta b le 6). A ll m a jo r c o n s tru c tio n c a te g o rie s w ere w e ak er in M in n e s o ta th a n in th e N a tio n . In 1978:IV, c o n tra c ts in th e S ta te to ta le d $902 m il lio n, fo r a g ain o ve r th e y e a r o f $74 m illion. N a tio n a l c o n stru c tio n co sts in c re a se d a b o u t 13 p erc e n t; if th is in crease is re p re se n ta tiv e o f c o st c ha n ge s in M in n e so ta , th e real v a lu a tio n o f c o n s tru c tio n c o n tra c ts dec lin ed a b o u t 4 p e rc e n t in th e S tate, c o m p a re d w ith a 4 -p e rc e n t in cre ase n a tio n a lly . N o n b u ild in g c o n tra c ts dec lin ed 14.9 p e rc e n t in v a lu a tio n in M in n e so ta versus a 2 2.2 -p erc en t in cre ase in th e N a tio n . P a rtly a c c o u n tin g fo r th e dec line w a s a dec line o f 4.1 p e rc e n t in th e v a lu a tio n o f stre e t a n d Ch a r t 1 4 .— Co n s t r u c t i o n C o n tra c ts fo r a d d itio n s a n d a lte ra tio n s to re sid e n tia l h o use k e e p in g u n its in cre a se d 6.0 p e rc e n t in v a lu a tio n in th e S ta te v ersus 14.6 p e rc e n t in th e N a tio n . T h e v a lu a tio n o f re sid e n tia l h o use k e e p in g c o n tra c ts inc re a se d 5.9 p e rc e n t in th e S ta te a n d 15.6 p e rc e n t n a tio n a lly . T h e n u m b e r o f dw elling u n its s ta rte d declined 5.5 p e rc e n t, o r 533 u n its, in th e S tate, to 9,212 units. N a tio n a lly , in c o n tra s t, th e n u m b e r o f dw elling u n its s ta rte d w as virtu ally u n c h a n g e d a t a h igh level. T h e v a lu a tio n o f n o n re s id e n tia l c o n tra c ts in c re ased 11.6 p e rc e n t in th e S ta te, lagging th e n a tio n a l in cre ase by 4.2 p e rc e n ta g e p o ints. Ch a r t Co n t r a c t s — To t a l Va l u a t i o n 1 5 .— Co n s t r u c t i o n Co n t r a c t s — V a l u a t i o n o f Co n t r a c t s b y Ty p e : M innesota B illio n $ Index, 1 9 7 6 = 1 0 0 Ch a r t Percent highw ay c o n tra c ts . N a tio n a lly , th e v a lu a tio n o f stre e t a n d high w ay c o n tra c ts dec lin ed 16.3 p ercent. 1 6 .— Co n s t r u c t i o n Co n t r a c t s : V a l u a t i o n o f Co n t r a c t s a n d o f Dw e l l i n g U n i t s S t a r t e d , Pe r c e n t Ch a n g e , 1 9 7 7 :I V - 1 9 7 8 : I V T A B LE 6 .— Co n s t r u c t i o n Co n t r a c t s , Un i t e d St a t e s a n d M i n n e s o t a Th r o u g h Fo u r t h Qu a r t e r , 19 78 1 M in n e s o ta U n ite d S ta te s 1 9 7 7:1V 1 97 8:1V 1977:111 1 9 7 7:1V 1978:111 U.S. S ta te 1 9 7 7 :1 V - 1978:111 197 8:1V 1 97 8:1V N o t s e a s o n a lly a d ju s te d T o ta l v a lu a tio n o f c o n t r a c t s .......................................................................... 3 8 ,9 1 3 ,1 1 1 4 5 ,4 5 9 ,7 7 3 7 ,7 0 7 ,9 8 7 8 ,8 3 2 ,3 5 3 S ta te U.S. 1 9 7 7 :1 1 1 - P e rce t ch a n g e 2 9 7 4 ,1 1 3 8 2 8 ,0 0 1 1 ,1 2 4 ,9 5 2 9 0 2 ,3 5 1 1 4 .5 1 7 7 ,1 0 0 1 4 7 ,4 6 2 1 8 9 ,4 4 3 1 5 6 ,3 5 9 1 6 .8 1 5 .5 1 6 .8 9 .0 1 4 .6 6 .0 R e s id e n tia l h o u s e k e e p in g , a d d itio n s a n d a lte r a tio n s : V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 7 .0 A ll o th e r c o n tr a c ts : N u m b e r o f c o n t r a c t s .......................................................................................... 6 2 ,7 8 9 5 6 ,9 2 8 1 ,8 4 8 1 ,4 3 4 1 ,7 9 6 1 ,3 9 3 4 .4 - 2 .8 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 3 1 , 2 0 5 ,1 2 4 3 6 ,6 2 7 ,4 2 0 7 9 7 ,0 1 3 6 8 0 ,5 3 9 9 3 5 ,5 0 9 7 4 5 ,9 9 2 1 4 .0 1 7 .4 1 7 .4 9 .6 F lo o r are a ( th o u s a n d s o f s q u a re f e e t ) ............................................................... 8 8 1 ,4 5 3 9 7 1 ,5 9 6 2 1 ,8 8 6 1 8 ,9 8 4 2 5 ,2 1 3 2 1 ,5 0 9 1 0 .8 1 5 .2 1 0 .2 13 .3 -9 .3 -2 .9 R e s id e n tia l h o u s e k e e p in g : N u m b e r o f c o n t r a c t s .......................................................................................... 1 4 ,8 2 5 1 4 ,1 9 2 391 399 355 37 1 N u m b e r o f d w e llin g u n i t s ................................................................................... 4 4 5 ,7 7 2 4 4 3 ,0 7 5 1 2 ,0 7 9 9 ,7 4 5 1 1 ,7 0 3 9 ,2 1 2 1.0 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 1 4 ,8 7 9 ,5 9 6 1 7 ,1 9 8 ,5 1 8 4 1 1 ,8 0 0 3 3 9 ,9 7 5 4 7 6 ,2 7 5 3 6 0 ,1 8 4 1 5 .3 1 5 .7 1 5 .6 5 .9 F lo o r a re a ( th o u s a n d s o f s q u a re f e e t ) ............................................................... 5 7 9 ,7 3 3 6 4 1 ,7 9 6 1 4 ,8 9 0 1 2 ,3 2 0 1 6 ,1 1 3 1 2 ,6 0 4 1 0 .3 8 .2 10 .7 2 .3 - 5 .1 - 9 .2 -4 .3 -7 .0 -3 .1 -.6 -5 .5 R e s id e n tia l n o n h o u s e k e e p in g : N u m b e r o f c o n t r a c t s .......................................................................................... 507 505 15 7 12 12 -1 0 .0 -2 0 .0 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 3 3 8 ,6 3 7 4 9 0 ,2 7 9 6 ,2 5 0 4 ,1 1 3 1 0 ,0 8 4 4 1 ,3 1 1 9 .4 6 1 .3 4 4 .8 9 0 4 .4 F lo o r a re a ( th o u s a n d s o f s q u a re f e e t ) ............................................................... 8 ,4 6 7 1 0 ,5 6 0 228 143 349 1 ,0 6 4 -.7 5 3 .4 2 4 .7 6 4 2 .4 -.4 7 1 .4 N o n re s id e n tia l: N u m b e r o f c o n t r a c t s .......................................................................................... 3 0 ,7 5 6 2 7 ,0 5 5 533 542 509 540 -2 .5 - 4 .5 -1 2 .0 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 9 ,3 3 4 ,4 1 5 1 0 ,8 1 0 ,7 6 9 2 1 6 ,1 3 1 2 1 9 ,9 1 3 3 1 0 ,6 5 2 2 4 5 ,3 5 2 2 7 .6 4 3 .7 15 .8 1 1 .6 F lo o r a re a ( th o u s a n d s o f s q u a re f e e t ) ............................................................... 2 9 3 ,2 5 3 3 1 9 ,2 4 0 6 ,7 6 8 6 ,5 2 1 8 ,7 5 1 7 ,8 4 2 1 2 .2 2 9 .3 8 .9 2 0 .3 2 2 .4 -.4 N o n b u ild in g : N u m b e r o f c o n t r a c t s .......................................................................................... 1 6 ,7 0 1 1 5 ,1 7 6 909 486 920 470 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 6 ,6 5 2 ,4 7 6 8 ,1 2 7 ,8 5 4 1 6 2 ,8 3 2 1 1 6 ,5 3 8 1 3 8 ,4 9 8 9 9 ,1 4 5 1 .2 -.1 -9 .1 -1 4 .9 -3 .3 2 2 .2 -1 4 .9 S tr e e ts a n d H igh w a y s : N u m b e r o f c o n t r a c t s .......................................................................................... 4 ,9 8 6 4 ,0 9 9 368 1 31 342 89 9 .3 V a lu a tio n ( th o u s a n d s o f d o lla r s ) ........................................................................ 2 ,3 0 8 ,6 8 1 1 ,9 3 1 ,3 4 1 6 8 ,0 0 5 2 6 ,7 5 2 6 9 ,0 1 8 2 5 ,6 6 8 3 .0 1. C o n tra c ts s ta rte d o r e x p e c te d to s ta r t w ith in 6 0 d a ys. -7 .1 ____ y _ -1 7 .8 -3 2 .1 1 ... -1 6 .3 -t - I L S o u rc e : F. W . D o d g e D iv is io n , M c G r a w - H ill In fo r m a tio n S y s te m s C o m p a n y . 2 . P e r c e n t c h a n g e s f o r fl o o r a r e a ba se d o n u n r o u n d e d d a ta . N O T E .— D e ta il f o r f lo o r a rea d a ta m a y n o t a d d to to ta l s b e c a u s e o f r o u n d in g . R e ta il S a le s R e ta il sales in M in n e s o ta to ta le d $4.1 billion in 1978:1V, u p 8.6 p e rc e n t ($329 m illion ) since 1977:IV, c o m p a re d w ith a n 11 .2-percent n a tio n a l in crease (ta b le 7). In 1978:1V, n o n d u ra b le g o o d s a c c o u n te d fo r $2.6 billion , a n d d u ra b le g o o d s a c c o u n te d fo r $1.5 billion . T A B LE 7 .— Re t a i l Sa l e s , Un i t e d St a t e s a n d M i n n e s o t a Th r o u g h Fo u r t h Qu a r t e r , 19 78 U n ite d S ta te s M in n e s o ta U.S. S ta te U.S. 1 9 7 7 :1 1 1 1 9 7 7:1V 1 9 7 8:1V 1977:111 1 9 7 7 : IV 1978:111 197 8:1V S ta te 1 9 7 7 :1 V - 1978:111 197 8:1V M illio n s o f d o lla r s , n o t s e a s o n a lly a d ju s te d P e rce n t change R e t a i l s a l e s ........................................................................................................................................................................................................................ 1 9 7 ,0 3 0 3 ,4 6 0 3 ,8 2 0 3 ,7 6 7 4 ,1 4 9 1 0 .3 D u r a b le g o o d s ............................................................................