Friday, October 24, 2014

Economic Indicators Updated through September

http://mtsu.edu/berc/tacir 

  • 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.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Thursday, October 23, 2014

Millennial Business Conference Oct. 31

Registration has been extended through Oct. 28 for Jones College's business conference "2020: Millennial Game Plan—Maximizing Millennial Entrepreneurship and Innovation" to be held Oct. 31 from 8:15 a.m. to 12:30 p.m. at Embassy Suites Conference Center in Murfreesboro, TN. 
When: October 31 (Friday), 8:15 AM to 12:30 PM (buffet breakfast to be served 7:30 to 8:15)

Where: Embassy Suites Conference Center, Medical Center Parkway, Murfreesboro

Who:
·        The keynote speakers include John Martin and Matt Thornhill of GenerationsMatter, a research-driven firm that is a national leader in advising major companies—Walmart, Google, Proctor and Gamble, Lincoln Financial, and many others—about how to approach business decisions using a generational lens. They will provide a “deep dive” into what makes millennials tick.
·         John Boyens of the Boyens Group®, who will provide practical action steps for companies wanting to build the type of culture that will allow them to attract, retain, and get the most out of their millennial employees.  
·        A discussion panel featuring Dr. Bill McDowell, Wright Travel Professor of Entrepreneurship in the Jones College, along with successful and budding millennial entrepreneurs.

Why:
·         The “millennial” generation is expected to make up 40 percent of the workforce by 2020. Nashville’s millennial growth rate is among the nation’s highest.
·         Other questions to be addressed at the conference:
o   What makes millennials special? How are they shaping companies inside and out?
o   How and why are millennials driving innovation and entrepreneurship?
o   How can an organization create a culture that capitalizes on the unique strengths of millennials?  

Cost: $30 per person for non-MTSU personnel; free for MTSU faculty/staff/students.

SEATING IS LIMITED!!! YOU MUST REGISTER IN ADVANCE TO ATTEND. REGISTER AT:
http://www.planningpoint.net/events/mtsujcb   OR

http://www.mtsu.edu/business/

Friday, October 3, 2014

Economic Indicators through August

http://mtsu.edu/berc/tacir 

  • Seasonally adjusted initial claims for Tennessee dropped again in August, falling to a new post-recession low of 4,338 per week, after seasonal adjustments. Prior to the recession, initial claims averaged approximately 6,000 per week.
  • Permits issued for single-family home construction for Tennessee rose to a post-recession high in August, climbing to 1,704 after seasonal adjustments. Over the year, single-family home permits have increased 28.3%. On the other hand, total permits (single-family plus multi-family) are just 1.0% higher over the year, showing how multi-family activity has cooled considerably.
  • State sales tax collections gained 2.4% in August from the previous month, a large month-to-month increase. Over the year in August, seasonally adjusted state sales tax collections are up 6.9% for the state.
  • Seasonally adjusted nonfarm employment for Tennessee exceeded the 2.8 million level in August, gaining 0.2% from the previous month. Over the year, nonfarm employment grew 2.1%. Including just private-sector establishments, employment rose a more robust 2.6% over the year.
  • Unemployment rate for Tennessee rose again in August, climbing to 7.4% compared with 6.1% for the United States.
  • Average weekly hours for Tennessee increased slightly in August to 35.3, equaling the average for the year to date.
  • Average hourly earnings for Tennessee rose $0.10 in August to $20.80. Earnings per hour have exhibited little net change since January.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Wednesday, September 10, 2014

Economic Indicators for July for State and MSAs

http://mtsu.edu/berc/tacir 

  • Seasonally adjusted initial claims for Tennessee declined in July, falling to 4,608 claims per week, nearly equaling the trend. Initial claims continue to decline as new layoffs become less and less of a problem. 
  • Permits issued for single-family home construction for Tennessee posted a substantial gain in July, rising 6.6% from June. The less volatile trend also increased in July. Over the year, single-family home permits are up 4.4% while total permits (single-family plus multi-family) are down 13% higher over the year, showing how the figures can be volatile.
  • State sales tax collections experienced a moderate rise in July, up 0.3% from June after seasonal adjustment. Over the year, state sales tax collections are up 3.2% for Tennessee. 
  • Seasonally adjusted nonfarm employment for Tennessee was little changed again in July, hovering around the 2.8 million level. Over the year, nonfarm employment is 1.9% higher, rising to 2.7% when government is not included.
  • Unemployment rate for Tennessee rose sharply in July, gaining 0.5 points from June. The current level of 7.1% returns the unemployment rate to about the same level as in January. The large decline in employment (from the household survey) is inconsistent with declining initial claims and modestly rising nonfarm employment.
  • Average weekly hours for Tennessee fell slightly to 35.2 hours. Hours worked have tended to fluctuate in a narrow band over the past year with no obvious trend.
  • Average hourly earnings for Tennessee fell $0.20 in July to $20.70. Following a large rise in 2013, hourly earnings have drifted lower this year. 
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery