Employment Database Update

Employment by County and Historical Unemployment Rates are updated at http://www.mtsu.edu/~berc/database.html . If you have trouble downloading data, email berc@mtsu.edu for a copy of the Excel files.

July Economic Indicators for the Nashville-Davidson-Murfreesboro MSA

July Economic Indicators for the Nashville-Davidson-Murfreesboro MSA
(.xls, 8/26/08)
(http://www.mtsu.edu/~berc/excel/report8_26_08.xls)

Tennessee Housing Market: 2nd Quarter 2008

The fourth in a series of quarterly reports on the housing market in Tennessee, supported by a Tennessee Housing Development Agency grant (pdf, posted 08/22/08)
(http://www.mtsu.edu/~berc/housingbrief.html)

TVA Raises Power Rate by 20%

From the Tennessean, August 21, 2008: "David Penn, director of MTSU's Business and Economic Research Center, called the increase 'substantial.... When costs go up ... costs for all sectors, households, state and local governments and business — that means we have to cut back on electricity use or cut spending on something else.'" (more)

Tennessee Jobless Rate Rises to 21-Year High

From the Tennessean, August 15, 2008: According to "David Penn, an economist at Middle Tennessee State University, 'The job losses in manufacturing have generated the losses in other sectors as well, and now we have one of the higher unemployment rates in the country.' . . . The professional and business-services job losses came as a result of the drop in manufacturing positions, which Penn blamed on the decline in automobile sales as well as the slow real-estate market." (more)

Trade Deficit's Decline Surprises Economists

(From the Tennessean, August 12, 2008): "Tennessee exports climbed 9.69 percent from January through June of 2008, significantly less than the nation as a whole, which saw exports climb 18 percent during that time period, according to Middle Tennessee State University economist Steve Livingston." (more)
(http://tennessean.com/apps/pbcs.dll/article?AID=/20080813/BUSINESS01/808130388)

Database Update

All databases maintained by Albert E. DePrince, Jr., have been updated through August 8, 2008, including the annual revisions for the NIPA (GDP) data and the productivity data.

Building Permits Database Update

Tennessee, Midstate, and Nashville MSA building permit database is updated:
http://www.mtsu.edu/~berc/database.html

RuCo Unemployment Rate Highest in Nearly 18 Years

From Murfreesboro Post (July 27, 2008): “'It is hard to pinpoint' the reason for the increase, said David Penn, executive director of the Business and Economic Research Center at MTSU. 'It is surprising how much it has jumped in the last couple of months.' Penn said the jump could be caused by more people moving into the county looking for work, or those self-employed in real estate, restaurants and trucking companies giving up and now looking for work. The manufacturing industry is still seeing some job losses, [and] some people may be entering the labor force for the first time due to the rising costs of fuel and goods." (more)

Nissan Workers Could Have Difficulty in Finding New Jobs

From Murfreesboro Post (July 30, 2008): “'Right now it is a tough environment in searching for jobs unless you have some special skills such as healthcare,' said David Penn, director of the Business and Economic Research Center at MTSU. But he said Nissan’s Wednesday morning announcement isn’t 'terribly unexpected' with the downturn of truck and sport utility vehicle sales and nearly $4 gasoline prices. Penn said If workers taking the buyout can ride out the economic downtown over the next couple of years, then they could possibly gain employment at the Volkswagen plant coming to Chattanooga or automobile suppliers that may be expanding or entering the market." (more)

Ups and Downs of Gas Prices

From News Channel 5 (August 1, 2008): According to David Penn, director of Middle Tennessee State University's Business and Economic Research Center, "Compared to a month ago prices are down about 5 percent.... That translates at about $3 less per fill up.... But you're still spending $15 more per tank than you did a year ago." (more)

Buyouts vs. Layoffs: Reputations behind Most Cash Options

From the Daily News Journal (August 3, 2008): According to David Penn, director of MTSU's Business and Economic Research Center, "'It's in (the company's) long-run interest to treat their employees well.' Essentially, 'it's about being a good corporate citizen and being smart, and about looking in the long run on how you want to treat your employees.' That said, employees who take a buyout won't affect the unemployment ratings if they retire for a year or two — at least not immediately, said Penn. 'It'll be interesting to see how many voluntarily take the buyout.'" (more)