Friday, October 26, 2012

Updated Economic Indicators 

New from BERC director David Penn at Tracking Tennessee's Economic Recovery:

  • Seasonally adjusted initial claims for unemployment insurance for Tennessee fell in September to 6,344 per week, down from 6,528.The less volatile trend rose to 6,190.
  • Tennessee's unemployment rate fell to 8.3% in September, down from 9.1% one year ago.
  • Seasonally adjusted state sales tax collections rose in September from the previous month, up 2.6% after seasonal adjustment. The moving average continued to drop, however.
  • Seasonally adjusted nonfarm employment for Tennessee rose slightly in September, up 3,300. The rate of job growth has steadily slowed since early 2012, falling to 0.8% over the year. Nonfarm employment rose in the Chattanooga, Kingsport-Bristol, and Memphis MSAs. Jobs declined or were unchanged from August for the remaining 7 MSAs.
Graphs and tables: