Monday, November 25, 2013

Updated Economic Indicators 

  • Seasonally adjusted nonfarm employment for Tennessee edged higher in October, gaining 8,000 jobs. Over the year, nonfarm employment is up 33,000 jobs, a 1.2 percent increase.
  • Unemployment rate for Tennessee remained essentially unchanged at 8.4% for October. Tennessee's unemployment rate has shown little change since June.
  • State sales tax collections fell slightly in October following a large gain in September. Collections are down 0.1 percent from the previous month but still 2.9 percent higher over the year.
  • Seasonally adjusted initial unemployment claims for Tennessee fell in October to 4,642 per week compared with 5,153 in September. Initial claims continue to fall from already extremely low levels. The 23-year low was reached in August and initial claims have continued to decline, indicating much lower layoff activity among employers.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery