This month we continue to look at some key metrics that create a snapshot of the regional economy.
  We’re adding a few barometers each month, so that we’ll end up with a pretty comprehensive picture of what’s happening in the region by year’s end.
  In January, we started with the basics, population, square miles, median household income and unemployment rate. In February, we removed media household income (it’s an annual number) and updated the unemployment numbers (every South Jersey county was up…the state was up…and the country was flat).
  We also added casino revenues and our own SNJBP Index of the stock prices of publicly traded companies that are important to the region.
  This month, we’re too early for new unemployment numbers on a county-by-county basis, but we are going to update casino revenues and stock prices and add some numbers for the housing industry (average and median new home prices…which, unfortunately, are only calculated on a quarterly basis).
  The average sales price for a new home in South Jersey in the third quarter of last year was $408,365, down 4% from the second quarter and about $90,000 lower than the statewide number, which was up 1% at $495,710.
  There were 1,726 new home sales across the region in the quarter, with Cape May County leading the way in number of sales (115), average price ($570,648) and median price ($420,000).
  By the way, unemployment statewide was down a little, following the national economy. But we were still down almost 103,000 jobs from January 2009.

Unemployment Rate—January  2010:                         
NJ  – 9.9%     US – 9.7%    NY – 8.8%    PA – 8.8%    DE – 9.0%     MD – 7.5%
And here’s how we fared compared to our neighbors fared over the last year.
State         Jan 2009                Jan 2010             Change                  Jobs Lost   
NJ                  7.5%                     9.9%                   2.4%                    102,800   
DE                 7.0%                      9.0%                   2.0%                     13,800
NY                 7.1%                      8.8%                   1.6%                   183,200
PA                  6.8%                      8.8%                   2.0%                   143,300
MD                 6.1%                      7.5%                   1.4%                     61,900

  Atlantic City’s casino win in February was 15.7% below the same month a year ago, but we have to take into account three significant snow storms before we jump to any major conclusions.
  As for our SNJBP Stock Watch, the composite for our 10 publicly traded stocks is up $35.93 for the year to date (through 3-5), a gain of 9.1%.
  As you look at the statistics, remember that they will represent the most recent data available (to us), so if you have something that is more up-to-date or more accurate, please let us know.
  Here’s a look at where the region stands as we head for the end of the first quarter.
  Stay tuned as we watch what happens during the months ahead. And if you think there are some “numbers” we should consider adding, drop SNJBP publisher Jenny Ryan a note at jenny@snjbp.com.
Casino Revenues:    February 2010                       
                                        (2/10)                     (1/10)           (2009 Total)   
Revenues                    $261.60                    $294.20          $2,005.30       
% Change from 2009)    -15.7%    -                    8.5%              -13.20% (from 2008)

SNJBP Stock Watch:                               
Company Name        Ticker Symbol     Closing Price       Closing Price     YTD Change ($)
                                                                  12/31/09                3/5/10   
Campbell Soup                CPB                       33.8                   34.39                   0.59
Checkpoint                       CKP                       15.25                  21.50                  6.25
Gannett                            GCI                        14.85                  16.27                  1.42
J&J Snack                       JJSF                       39.96                  42.49                  2.53
L-3 Communication           LLL                       86.95                  93.16                  6.21
Lockheed Martin               LMT                      75.35                   81.27                 5.92
PHH Corp                        PHH                       16.11                   22.18                 6.07
PSEG                               PEG                      33.25                   31.20                -2.05
TD Bank                              TD                      62.72                   68.89                 6.17
Valero                                VLO                      16.75                   19.57                 2.82
               
TOTAL:                                                        $394.99               $430.92         +$35.93 (+9.1%)

Average and median new homes sales prices: 2009 3Q           
                                Number of              Total sales              Average            Median
County                   new houses                 price                avg_sal_pr      med_sale_pr
Atlantic                         78                      35,478,254           $454,849           $300,000
Burlington                     48                      18,283,241             380,901             349,990
Camden                        54                      16,555,729             306,588            240,570
Cape May                   115                      65,624,549             570,648             420,000
Cumberland                 33                         6,690,011             202,728             188,900
Gloucester                    86                      26,826,487             311,936             255,043
Salem                             3                            829,800            276,600             287,000
New Jersey              1,726                  $855,595,733          $495,710            $370,400

2009                   1st Quarter              2nd Quarter             3rd Quarter
                              Average                  Average             Average Percent
County                 sales price               sales price               sales price             Change
Atlantic                   $368,655                   $470,348                  $ 454,849                  3%
Burlington                374,820                    417,034                   $ 380,901                 -8%
Camden                   333,672                    325,879                   $ 306,588                 -6%
Cape May                471,995                    572,572                   $ 570,648                  0%
Cumberland            241,460                     232,213                   $ 202,728               -12%
Gloucester              280,218                     325,816                     $ 31,936                 -4%
Salem                     248,007                     294,884                    $ 276,600                -6%

South Jersey        $349,786                    $423,799                   $ 408,365                -4%
New Jersey          $459,857                    $491,617                   $ 495,710                 1%

The good news is that building permits were up 13% in South Jersey—as reported for November 2009 over November 2008.