Monday, November 26, 2012

Updated Economic Indicators 

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

  • Tennessee unemployment rate fell to 8.2% in October, down from slightly from September and lower than 8.9% a year ago. 
  • State sales tax collections are unchanged from September after seasonal adjustment. The rate of growth of sales tax collections has weakened steadily since April, with current collections just 0.9% higher over the year. 
  • Seasonally adjusted nonfarm employment for Tennessee rose for the second consecutive month in October. Nonfarm employment is 0.9% higher over the year, compared with 0.8% for October. Private-sector employment rose somewhat faster, gaining 1.1% over the year. All but two metropolitan areas are gaining jobs over the year, led by the Clarksville and Knoxville MSAs. 
View graphs and tables: