Initial unemployment claims, single-famiy home permits, seasonally adjusted nonfarm employment, and the unemployment rate for Tennessee all declined in November, while state sales tax collections increased. For details, graphs, and MSA information, see Tracking Tennessee's Economic Recovery: http://capone.mtsu.edu/berc/tacir/tacir.html
Wednesday, January 7, 2015
Thursday, December 11, 2014
Monday, December 8, 2014
The Wright Travel Chair in Entrepreneurship Business Plan Competition is open to MTSU students and alumni. First prize, $7,500; second, $5,000. Applications and submissions are due by noon Feb. 26.
www.mtsubusinessplan2015.istart.org or http://www.mtsu.edu/entre/wright_travel.php.
Wednesday, December 3, 2014
Due to a boom in multi-family construction in the Nashville MSA, total TN permits (including multifamily homes) are up 40.9% over the year. Details by MSA at Tracking Tennessee's Economic Recovery.
Wednesday, November 26, 2014
- Seasonally adjusted initial claims for Tennessee changed little in October, increasing to 4,571 per week from 4,507 in September. The trend declined slightly. Initial claims remain very low for the state.
- State sales tax collections gained in October after seasonal adjustments. Collections rose 2.5% from September and now are 7.3% higher over the year for Tennessee.
- Seasonally adjusted nonfarm employment for Tennessee rose 7,900 in October from the previous month. Over the year, nonfarm employment is 2.2% higher, a gain of 59,800.
- Unemployment rate for Tennessee declined to 7.1% in October, down from a recent peak of 7.4% for August. Tennessee's unemployment rate remains elevated compared with 5.8% for the U.S.
- Average weekly hours for Tennessee fell to 34.8 in October. Hours worked are down 1.4% over the year.
- Average hourly earnings for Tennessee gained $0.10 in October September to $20.70 after seasonal adjustments. Hourly earnings are just 2.0% higher over the year.
Tuesday, November 25, 2014
Heat tables and summary tables for the state and 10 MSAs
Friday, October 24, 2014
- Seasonally adjusted initial claims for Tennessee increased slightly in September, climbing to 4,507 per week compared with 4,338 in the previous month. The trend continued to drift lower. Initial claims remain at very low levels, lower than prior to the recession.
- State sales tax collections declined in September following a very large August gain. Seasonally adjusted collections fell 1.2% from the previous month but remain 5.3% higher over the year.
- Seasonally adjusted nonfarm employment for Tennessee climbed by 17,000 jobs in September from the previous month, up 0.3%. Over the year, nonfarm employment is 2.2% higher, up 60,700. (Private-sector-only jobs gained 2.8% over the year.) The growth rate has been on the rise since mid-2013.
- Unemployment rate for Tennessee changed little in September despite the gains in nonfarm employment and falling initial unemployment insurance claims. Tennessee's unemployment rate is 7.3% compared with 5.9% for the U.S.
- Average weekly hours for Tennessee dropped to 35.1 in September, one of the lower numbers reported in the past 12 months.
- Average hourly earnings for Tennessee fell $0.20 in September to $20.60 after seasonal adjustments. Average earnings appear to be weakening following the peak in May of this year.