Monthly Economic Data Summary South Region

September 2021

Regions Bank Economics Division

Richard F. Moody Greg McAtee Chief Economist Senior Economist Nonfarm % from Economics Division Nonfarm Employment, ths % change year ago Employment, peak, May-21 Jun-21 Jul-21 May-21 Jun-21 Jul-21 Q1 2020 peak (ths) Jul-21 CENTRAL ALABAMA: Auburn-Opelika, AL 66.000 66.400 66.900 11.68 8.50 6.87 67.800 -1.33 Dothan, AL 58.800 59.300 59.900 5.19 4.40 4.54 60.600 -1.16 Montgomery, AL 169.300 170.000 170.200 5.29 3.91 2.53 178.000 -4.38

NORTH ALABAMA: Decatur, AL 57.000 57.100 57.300 4.59 3.44 2.87 58.300 -1.72 Florence-Muscle Shoals, AL 55.300 55.200 54.800 7.80 3.18 1.11 57.500 -4.70 Huntsville, AL 248.600 249.400 249.800 8.13 6.22 4.87 249.400 0.16

NORTH-CENTRAL ALABAMA: Anniston-Oxford-Jacksonville, AL 45.900 45.700 45.800 7.49 3.39 2.00 47.700 -3.98 Birmingham-Hoover, AL 531.100 535.000 538.200 6.86 5.98 5.53 548.700 -1.91 Gadsden, AL 33.900 34.000 33.900 9.35 4.94 3.35 37.000 -8.38 Tuscaloosa, AL 105.600 105.900 105.900 9.09 5.37 3.42 114.300 -7.35

SOUTH ALABAMA/FLORIDA PANHANDLE: Crestview-Fort Walton Beach-Destin, FL 117.100 117.400 117.700 7.04 3.35 3.34 119.700 -1.67 Daphne-Fairhope-Foley AL 80.000 80.800 81.800 11.58 8.75 7.63 81.400 0.49 Mobile, AL 179.300 180.000 180.200 5.22 3.87 3.15 187.200 -3.74 Panama City, FL 79.900 80.500 80.200 7.39 5.09 3.48 81.900 -2.08 Pensacola-Ferry Pass-Brent, FL 185.600 186.300 186.900 6.06 3.27 3.26 188.700 -0.95

SOUTH LOUISIANA: Baton Rouge, LA 385.800 384.100 387.100 6.57 3.95 3.56 409.200 -5.40 Houma-Thibodaux, LA 82.700 82.700 82.600 5.48 4.68 4.03 87.400 -5.49 Lafayette, LA 190.800 192.300 193.100 4.21 3.95 3.32 206.200 -6.35 New Orleans-Metairie, LA 523.400 526.300 530.000 7.41 4.09 3.50 592.600 -10.56

SOUTH MISSISSIPPI: Gulfport-Biloxi-Pascagoula, MS 152.900 153.900 154.900 13.34 6.36 4.59 158.500 -2.27 Hattiesburg, MS 64.600 64.800 65.600 7.67 4.68 4.96 65.300 0.46 Jackson, MS 266.000 268.400 270.900 6.87 3.91 2.89 279.300 -3.01

U.S. 144,940 145,902 146,955 8.98 5.85 5.29 152,523 -3.65

REGIONS TOTAL 41,261 41,488 41,707 7.37 5.16 4.76 43,275 -3.62

SOUTH REGION 3,680 3,696 3,714 7.14 4.71 3.93 3,877 -4.20 Manufacturing % from Economics Division Manufacturing Employment, ths % change year ago Employment, peak, May-21 Jun-21 Jul-21 May-21 Jun-21 Jul-21 Q1 2020 peak (ths) Jul-21 CENTRAL ALABAMA: Auburn-Opelika, AL 6.380 6.518 6.553 18.07 10.62 14.61 6.405 2.31 Dothan, AL 5.367 5.471 5.468 3.86 5.97 7.85 5.484 -0.30 Montgomery, AL 17.159 17.245 17.223 4.01 3.65 0.42 18.155 -5.13

NORTH ALABAMA: Decatur, AL 13.325 13.338 13.388 1.57 0.85 2.27 13.729 -2.48 Florence-Muscle Shoals, AL 8.185 8.106 8.120 13.58 1.41 -0.87 8.667 -6.32 Huntsville, AL 26.978 26.976 26.810 5.76 4.59 2.39 26.457 1.34

NORTH-CENTRAL ALABAMA: Anniston-Oxford-Jacksonville, AL 6.816 6.803 6.796 11.78 6.51 8.18 6.707 1.33 Birmingham-Hoover, AL 37.676 37.765 37.556 8.70 3.42 2.28 39.231 -4.27 Gadsden, AL 4.438 4.394 4.431 25.79 16.20 7.98 5.411 -18.10 Tuscaloosa, AL 18.063 18.211 18.680 22.65 7.31 9.60 17.825 4.80

SOUTH ALABAMA/FLORIDA PANHANDLE: Crestview-Fort Walton Beach-Destin, FL 3.501 3.530 3.556 3.13 1.32 2.15 3.407 4.39 Daphne-Fairhope-Foley AL N/A N/A N/A N/A N/A N/A N/A N/A Mobile, AL 18.251 18.103 18.153 1.22 -0.13 1.53 18.739 -3.13 Panama City, FL 3.199 3.203 3.125 3.90 0.55 3.25 3.238 -3.51 Pensacola-Ferry Pass-Brent, FL 6.977 7.038 7.033 1.97 0.32 3.12 7.320 -3.92

SOUTH LOUISIANA: Baton Rouge, LA 29.258 29.239 29.154 0.02 0.53 0.32 30.038 -2.94 Houma-Thibodaux, LA 6.749 6.772 6.545 -3.63 -0.34 -1.63 7.282 -10.12 Lafayette, LA 13.224 13.214 13.378 -9.39 -6.83 -2.88 16.632 -19.57 New Orleans-Metairie, LA 28.742 28.431 28.332 1.58 0.34 -0.72 30.165 -6.08

SOUTH MISSISSIPPI: Gulfport-Biloxi-Pascagoula, MS 17.860 17.727 17.903 7.89 0.09 0.75 17.763 0.79 Hattiesburg, MS 4.600 4.642 4.786 -1.02 -0.38 7.25 4.806 -0.41 Jackson, MS 19.905 19.989 20.299 33.61 11.82 8.60 20.251 0.24

U.S. 12,300 12,332 12,384 5.52 2.78 2.88 12,799 -3.24

REGIONS TOTAL 3,025 3,020 3,032 4.67 1.82 2.39 3,157 -3.98

SOUTH REGION 297 297 297 6.51 2.74 2.62 308 -3.39 Total Personal Income, Ex-Transfers Economics Division Unemployment Rate, % % change year ago May-21 Jun-21 Jul-21 Q2 2020 Q3 2020 Q4 2020 Q1 2021 CENTRAL ALABAMA: Auburn-Opelika, AL 2.8 2.7 2.5 -1.49 2.47 2.70 2.21 Dothan, AL 3.2 3.2 3.1 -1.82 2.42 3.28 3.73 Montgomery, AL 4.1 4.2 4.1 -3.51 -0.31 -0.68 0.51

NORTH ALABAMA: Decatur, AL 2.7 2.5 2.4 -3.71 2.72 2.77 2.31 Florence-Muscle Shoals, AL 3.5 3.3 3.4 -2.88 0.85 2.03 1.50 Huntsville, AL 2.8 2.5 2.5 0.68 4.21 4.56 4.16

NORTH-CENTRAL ALABAMA: Anniston-Oxford-Jacksonville, AL 4.0 4.0 4.0 -3.62 1.21 3.79 4.49 Birmingham-Hoover, AL 3.1 3.1 3.0 -4.52 3.00 3.53 4.40 Gadsden, AL 3.9 3.9 3.8 -5.57 -2.48 -0.76 -2.58 Tuscaloosa, AL 3.5 3.4 3.2 -4.79 -3.08 -2.39 -2.32

SOUTH ALABAMA/FLORIDA PANHANDLE: Crestview-Fort Walton Beach-Destin, FL 3.5 3.8 4.1 -0.84 7.03 6.94 5.99 Daphne-Fairhope-Foley AL 48.9 48.8 48.1 -1.94 1.15 1.22 0.80 Mobile, AL 4.6 4.7 4.5 -3.20 3.30 3.49 4.01 Panama City, FL 4.0 4.6 4.3 -5.11 4.62 1.68 1.66 Pensacola-Ferry Pass-Brent, FL 4.2 4.4 4.7 -5.61 3.36 0.37 0.97

SOUTH LOUISIANA: Baton Rouge, LA 6.4 6.3 6.1 -4.29 -3.44 -3.63 -1.84 Houma-Thibodaux, LA 5.9 6.0 5.6 -1.46 -0.07 -2.09 -0.38 Lafayette, LA 6.3 6.2 5.9 -6.97 -1.12 -3.45 -1.12 New Orleans-Metairie, LA 8.6 8.4 7.8 -3.89 1.13 0.18 2.51

SOUTH MISSISSIPPI: Gulfport-Biloxi-Pascagoula, MS 6.4 6.4 6.5 -2.89 3.34 3.96 4.54 Hattiesburg, MS 5.5 5.5 5.4 -3.79 2.52 3.32 3.39 Jackson, MS 5.6 5.6 5.6 -4.81 0.86 1.79 2.69

U.S. 5.8 5.9 5.4 -3.80 0.15 1.63 2.07

REGIONS TOTAL 5.5 5.5 5.4 -3.33 1.14 1.55 2.27

SOUTH REGION 7.1 7.1 6.9 -3.73 1.46 1.15 2.13 CoreLogic House Price Index CoreLogic 90+ Day Delinquency Rate Economics Division % change year ago % of loans Apr-21 May-21 Jun-21 Jul-21 Jun-18 Jun-19 Jun-20 Jun-21 CENTRAL ALABAMA: Auburn-Opelika, AL 8.65 9.81 11.07 11.24 1.94 1.53 3.13 2.61 Dothan, AL 9.93 8.69 11.42 11.90 2.74 1.99 3.46 3.27 Montgomery, AL 8.82 8.51 8.53 10.14 2.87 2.33 4.28 4.00

NORTH ALABAMA: Decatur, AL 16.19 16.95 17.43 18.13 2.09 1.74 2.79 2.67 Florence-Muscle Shoals, AL 19.34 20.73 23.02 20.03 1.98 1.56 2.68 2.98 Huntsville, AL 15.92 15.90 17.66 18.97 1.46 1.17 2.28 2.25

NORTH-CENTRAL ALABAMA: Anniston-Oxford-Jacksonville, AL 0.84 1.91 3.09 14.44 3.09 2.55 4.15 4.01 Birmingham-Hoover, AL 10.49 11.80 13.09 13.74 2.65 2.16 3.96 3.58 Gadsden, AL 11.79 12.97 14.28 14.44 2.69 2.16 4.33 4.23 Tuscaloosa, AL 7.93 8.75 10.16 10.70 2.78 2.51 4.50 4.22

SOUTH ALABAMA/FLORIDA PANHANDLE: Crestview-Fort Walton Beach-Destin, FL 20.41 20.80 24.07 27.36 1.99 1.44 3.35 2.56 Daphne-Fairhope-Foley AL 12.69 15.14 15.95 15.75 1.16 0.91 2.79 2.48 Mobile, AL 13.30 14.46 16.28 18.84 3.60 2.96 5.20 5.04 Panama City, FL 12.36 16.19 16.50 18.91 2.05 2.88 3.27 2.74 Pensacola-Ferry Pass-Brent, FL 14.59 16.21 19.49 21.25 2.45 1.81 3.54 3.35

SOUTH LOUISIANA: Baton Rouge, LA 5.41 6.15 7.39 8.44 3.05 2.55 4.96 4.90 Houma-Thibodaux, LA 3.52 5.84 5.91 4.89 3.30 2.38 5.00 5.25 Lafayette, LA 5.54 6.15 6.20 8.03 2.96 2.41 5.04 4.79 New Orleans-Metairie, LA 8.77 10.10 11.43 11.63 2.78 2.30 6.39 5.34

SOUTH MISSISSIPPI: Gulfport-Biloxi-Pascagoula, MS -1.48 0.44 0.95 2.11 2.90 2.31 4.95 4.64 Hattiesburg, MS 8.49 11.02 11.17 11.85 2.55 1.98 4.80 4.36 Jackson, MS 9.78 10.42 10.07 10.86 3.50 3.05 5.71 4.94

U.S. 12.86 15.00 16.85 17.98 1.90 1.45 3.58 3.05

REGIONS TOTAL 11.76 13.31 15.18 16.73 2.33 1.76 3.59 3.29

SOUTH REGION 10.56 11.81 13.09 14.37 2.57 2.12 4.12 3.83 SINGLE FAMILY HOUSING PERMITS Economics Division Year-To-Date Through July, # units Annual Totals, # units 2017 2018 2019 2020 2021 2017 2018 2019 2020 CENTRAL ALABAMA: Auburn-Opelika, AL 599 666 687 812 988 971 1,036 1,129 1,316 Dothan, AL 129 136 119 174 193 388 359 363 488 Montgomery, AL 468 390 444 562 627 761 654 769 966

NORTH ALABAMA: Decatur, AL 91 82 111 108 115 160 152 177 216 Florence-Muscle Shoals, AL 128 124 123 131 171 257 254 255 296 Huntsville, AL 1,542 1,755 2,009 2,334 2,754 2,577 2,870 3,399 4,210

NORTH-CENTRAL ALABAMA: Anniston-Oxford-Jacksonville, AL 37 37 49 44 25 69 66 105 102 Birmingham-Hoover, AL 1,677 1,599 1,679 1,966 2,270 2,677 2,698 3,097 3,565 Gadsden, AL 29 33 38 23 21 112 104 71 113 Tuscaloosa, AL 286 307 297 327 343 572 578 624 648

SOUTH ALABAMA/FLORIDA PANHANDLE: Crestview-Fort Walton Beach-Destin, FL 1,203 1,253 1,345 1,387 2,167 2,076 2,087 2,393 2,400 Daphne-Fairhope-Foley AL 1,031 1,229 1,269 1,438 1,686 2,207 2,459 2,740 3,395 Mobile, AL 390 420 440 424 529 660 763 739 934 Panama City, FL 319 420 374 469 649 984 1,104 1,432 1,551 Pensacola-Ferry Pass-Brent, FL 1,462 1,647 1,571 2,430 1,821 2,584 2,528 2,734 4,103

SOUTH LOUISIANA: Baton Rouge, LA 2,257 2,257 2,142 2,201 2,753 3,586 3,509 3,591 3,741 Houma-Thibodaux, LA 264 278 271 264 300 431 475 494 515 Lafayette, LA 1,043 950 961 1,483 1,865 1,746 1,657 1,632 2,526 New Orleans-Metairie, LA 1,616 1,829 1,874 1,943 2,655 2,720 3,046 3,241 3,563

SOUTH MISSISSIPPI: Gulfport-Biloxi-Pascagoula, MS 1,109 1,124 1,184 1,514 1,453 1,799 1,921 2,057 2,549 Hattiesburg, MS 53 38 24 27 22 134 102 90 131 Jackson, MS 1,032 820 555 634 718 1,671 1,325 1,042 1,164

U.S. 487,495 521,438 496,726 525,623 681,949 819,976 855,332 862,084 979,360

REGIONS TOTAL 202,541 215,415 207,301 223,915 297,048 345,130 366,701 370,521 437,148

SOUTH REGION 16,765 17,394 17,566 20,695 24,125 29,142 29,747 32,174 38,492 MULTI-FAMILY HOUSING PERMITS Economics Division Year-To-Date Through July, # units Annual Totals, # units 2017 2018 2019 2020 2021 2017 2018 2019 2020 CENTRAL ALABAMA: Auburn-Opelika, AL 40 151 491 619 310 390 95 962 905 Dothan, AL 2 55 48 0 2 2 55 60 0 Montgomery, AL 0 7 0 7 17 0 0 6 13

NORTH ALABAMA: Decatur, AL 0 0 0 8 0 0 0 0 8 Florence-Muscle Shoals, AL 63 56 6 0 0 518 81 26 0 Huntsville, AL 132 71 145 95 638 382 71 167 131

NORTH-CENTRAL ALABAMA: Anniston-Oxford-Jacksonville, AL 0 0 0 0 0 0 4 0 0 Birmingham-Hoover, AL 190 297 34 294 534 12 327 139 333 Gadsden, AL 0 7 0 0 0 0 0 0 0 Tuscaloosa, AL 238 175 382 282 418 597 469 844 613

SOUTH ALABAMA/FLORIDA PANHANDLE: Crestview-Fort Walton Beach-Destin, FL 398 186 663 286 407 395 298 1,151 355 Daphne-Fairhope-Foley AL 10 28 299 338 46 210 588 410 219 Mobile, AL 254 22 0 0 0 338 20 3 0 Panama City, FL 290 76 23 230 270 802 564 521 1,537 Pensacola-Ferry Pass-Brent, FL 5 0 464 44 1,377 25 40 488 288

SOUTH LOUISIANA: Baton Rouge, LA 7 152 16 4 2 53 413 10 14 Houma-Thibodaux, LA 0 28 9 13 18 6 30 27 32 Lafayette, LA 7 4 24 3 14 25 30 34 24 New Orleans-Metairie, LA 123 715 389 587 893 246 818 785 785

SOUTH MISSISSIPPI: Gulfport-Biloxi-Pascagoula, MS 100 94 78 362 262 139 238 154 417 Hattiesburg, MS 12 0 4 0 0 0 4 48 13 Jackson, MS 12 0 2 52 2 72 16 320 5

U.S. 247,391 263,897 276,841 270,338 328,483 462,001 473,495 523,964 491,781

REGIONS TOTAL 85,358 100,886 104,397 101,609 122,586 157,560 178,913 194,075 177,286

SOUTH REGION 1,883 2,124 3,077 3,224 5,210 4,212 4,161 6,155 5,692 Sources: Bureau of Economic Analysis; Bureau of Labor Statistics; CoreLogic; Moody's Analytics; U.S. Census Bureau; Regions Bank Economics Division