Wednesday, February 5, 2014

Updated Economic Indicators 

  • Permits issued for single-family home construction for Tennessee were virtually unchanged in December after seasonal adjustments. The trend shows a slight decline in activity from a peak last August. 
  • Seasonally adjusted nonfarm employment for Tennessee was virtually unchanged in December, down 900 jobs from November. Over the year, nonfarm employment is 31,400 higher, a gain of 1.1%.
  • Unemployment rate for Tennessee dropped to 7.8% in December from 8.1% in the previous month. The decrease was largely due to a decline in the labor force, indicating that fewer people are searching for work.
  • State sales tax collections rose 0.5% in December from the previous month after seasonal adjustments. Collections are 2.6% higher over the year.
  • Seasonally adjusted initial unemployment claims for Tennessee increased in December to 5,281 from 4,807 per week in November, the second consecutive increase. The less-volatile trend continued to decline and remain less than 5,000 per week.
Graphs: Search by MSA at Tracking Tennessee's Economic Recovery