Tuesday, July 31, 2012

Updated Economic Indicators


  • Seasonally adjusted initial claims for unemployment insurance rose to 5,766 per week in June, following a rise in May. However, the less volatile moving average has dropped every month since September 2011, indicating a declining trend for layoffs.
  • Tennessee's unemployment rate rose to 8.1% in June, the second monthly rise, returning to nearly the same rate as in January of this year. Flagging jog growth combined with a rise in the number of job seekers caused the increase.
  • Nonfarm employment fell 12,000 in June for Tennessee but is still higher over the year. The rate of growth of nonfarm employment has slowed considerably since early this year.