Tuesday, January 7, 2014

Updated Economic Indicators


  • Permits issued for single-family home construction for Tennessee declined in November to 1,314 following a very strong October. The less volatile trend shows little change and has been level since August. Over the year, single-family permits are 2.8% higher, but total permits (including multi-family permits) are down 1.9%.
  • Seasonally adjusted nonfarm employment for Tennessee rose sharply in November by 0.3%, a gain of 9,400 from October. Over the year, nonfarm employment is 39,000 higher.
  • Unemployment rate for Tennessee fell to 8.1% in November, the lowest level since April. Total employment fell 1,800 from October, but the number of persons unemployed fell nearly 12,000.
  • State sales tax collections climbed 1.4% from October after seasonal adjustments. Collections are 4.0% higher over the year.
  • Seasonally adjusted initial unemployment claims for Tennessee rose in November to 4,807 from 4,642 per week in October, while the less-volatile trend continued to decline. Initial claims remain at very low levels.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery