Industry Trends Issue 3, 2017 - Cover3

REPORT 6

Southeast Report

I

n this issue of Industry Trends, we are taking a look at the
Southeast region of the U.S. For our data study, this region
includes a large number of states: Alabama, Florida, Georgia,
Kentucky, Louisiana, Mississippi, North Carolina, South
Carolina and Tennessee. This region is home to many upand-coming southern business hubs, like Charlotte, N.C., and
Charleston, S.C., but also home to some of the poorest areas in
the nation in Mississippi and Alabama.
The September unemployment report released by the
Bureau of Labor Statistics shows a national unemployment
average of 4.2 percent. When we compare this with
unemployment rates in the Southeast region, we see that
most states are at or below this average. The exceptions are
Kentucky, Louisiana and Mississippi. These three states all
have unemployment rates roughly 1 percent over the national
average. The lowest rate can be found in Tennessee, which
reported just 3 percent unemployment in September.
Business Insider ranks all 50 states for economic growth
annually based on economic factors, including job growth,
unemployment and cost of living. The chart below shows the
rankings of each state in the Southeast region. Two states in
the region ranked in the Top 10 for 2017 - Florida at No.
6 and South Carolina at No. 8. The lowest states on the
economic growth rankings list were Alabama, at No. 45
and Mississippi at No. 38.
The U.S. Census data from 2010-2016 shows a 4.6 percent
growth in population over the past six years. The Southeast
region is really a mixed bag, with several states far below, and
many far above, this national average. Mirroring the economic
growth rankings, the largest population increases were also
found in Florida and South Carolina, up 9.6 and 7.2 percent
respectively. Similarly, the smallest were Mississippi, up less than
1 percent, and Alabama, up 1.7 percent.
For the home sales that are taking place in this region, there
have been some recent increases in prices. On a statewide level,
the Federal Housing Finance Agency compares sales prices
with a base year of 1991. All states were given a base score
of 100 in 1991 and have risen accordingly since then. For
example, U.S. home prices have more than doubled during
the past 26 years, while the Southeast region has seen only
modest increases.
All states have shown an increase in home sales prices, with
the exception of Mississippi, which has fallen just below the
100-point mark at 98.2. The Home Price Index (HPI) also
ranks the states during the past several years by percentage
increase. Florida and North Carolina top the region in these
rankings, coming in at No. 4 and No. 7 respectively.

Unemployment Rate
State

Sept. 2017

Alabama

3.8%

Florida

3.8%

Georgia

4.5%

Kentucky

5.2%

Louisiana

5.1%

Mississippi

5.2%

North Carolina

4.1%

South Carolina

3.9%

Tennessee

3.0%

All U.S.

4.2%

Source: Bureau of Labor Statistics

Economic Growth Rankings
Rank

State

Population Growth
2010-2016

45

Alabama

1.7%

6

Florida

9.6%

12

Georgia

6.4%

30

Kentucky

2.2%

29

Louisiana

3.2%

38

Mississippi

0.7%

15

North Carolina

6.4%

8

South Carolina

7.2%

18

Tennessee

4.8%

U.S.

4.6%

Sources: Business Insider, US Census

The inbound/outbound report for the region shows that
most of these states have more interstate shipments coming in
than leaving the area. The only states that have more shipments
leaving than arriving are Kentucky, Louisiana and Mississippi.
2017, Vol. 3 ยป INDUSTRY TRENDS

7



Table of Contents for the Digital Edition of Industry Trends Issue 3, 2017

Shipment Volume
Top 20 Metropolitan Areas
Shipment Weight
Existing Home Sales
New Home Sales
Industry Trends Issue 3, 2017 - Cover1
Industry Trends Issue 3, 2017 - Cover2
Industry Trends Issue 3, 2017 - 1
Industry Trends Issue 3, 2017 - Shipment Volume
Industry Trends Issue 3, 2017 - Top 20 Metropolitan Areas
Industry Trends Issue 3, 2017 - Shipment Weight
Industry Trends Issue 3, 2017 - Existing Home Sales
Industry Trends Issue 3, 2017 - New Home Sales
Industry Trends Issue 3, 2017 - Cover3
Industry Trends Issue 3, 2017 - Cover4
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