Tuesday, April 1, 2014

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

  • Permits issued for single-family home construction for Tennessee rose 3.2% in February after seasonal adjustments. The less-volatile trend continued to decline, however, falling for the sixth consecutive month beginning August 2013. Over the year, single-family construction is up 10%. Multi-family construction continues to rise, causing total permits to climb 27% from the previous year.
  • Seasonally adjusted nonfarm employment for Tennessee rose 0.2% in February, up nearly 7,000 jobs from January.  The rate growth of job creation in the private sector remained at 2.1% over the year.
  • Unemployment rate for Tennessee fell sharply to 6.9% in February from 7.2% in the previous month, closing in on the U.S. unemployment rate of 6.7%.  Rising employment and a steady labor force caused the decline in the unemployment rate.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Thursday, March 20, 2014

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

  • Seasonally adjusted initial unemployment claims for Tennessee climbed to 5,603 per week in February compared with 5,193 for January. The less-volatile trend also rose. Unseasonably cold weather in February may explain some of the increase.
  • Permits issued for single-family home construction for Tennessee fell 4% from January after seasonal adjustments. Of greater concern is the weakening of construction activity as measured by the less-volatile trend, down for the fifth consecutive month. Over the year, single-family construction is down 7.8%. Multi-family construction continues to surge higher, causing total permits to rise 52% from the previous year.
  • State sales tax collections fell 1.7% in February from the previous month after seasonal adjustments, the second consecutive monthly decline. Over the year, collections are just 1.1% higher.
  • Seasonally adjusted nonfarm employment for Tennessee in January is slightly lower than the previous month and just 1.4% higher over the year. Slower job growth is consistent with rising layoffs and sales tax collections noted above.
  • Unemployment rate for Tennessee fell to 7.2% in January from 7.7% in the previous month. The decrease was due to higher employment according to the household survey measure.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Friday, March 14, 2014

Global Commerce 3rd Quarter 2013

http://capone.mtsu.edu/berc/globalcommerce.html 

[Global Commerce newsletter]

Global Commerce: Tennessee and the International Economy, produced by the Business and Economic Research Center at Middle Tennessee State University, received the 2013 award of excellence in electronic publications from the Association of University Business and Economic Research.

Wednesday, February 19, 2014

Wednesday, February 5, 2014

Employment Growth by Industry

http://www.mtsu.edu/~berc/tacir/tennesseejobs.html 

Heat tables and summary tables for the state and 10 MSAs 
through December

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

  • Permits issued for single-family home construction for Tennessee were virtually unchanged in December after seasonal adjustments. The trend shows a slight decline in activity from a peak last August. 
  • Seasonally adjusted nonfarm employment for Tennessee was virtually unchanged in December, down 900 jobs from November. Over the year, nonfarm employment is 31,400 higher, a gain of 1.1%.
  • Unemployment rate for Tennessee dropped to 7.8% in December from 8.1% in the previous month. The decrease was largely due to a decline in the labor force, indicating that fewer people are searching for work.
  • State sales tax collections rose 0.5% in December from the previous month after seasonal adjustments. Collections are 2.6% higher over the year.
  • Seasonally adjusted initial unemployment claims for Tennessee increased in December to 5,281 from 4,807 per week in November, the second consecutive increase. The less-volatile trend continued to decline and remain less than 5,000 per week.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery