berc: sales tax collections

Showing posts with label sales tax collections. Show all posts

Thursday, September 3, 2015

http://capone.mtsu.edu/berc/tacir/tacir.html

David Penn: "State sales tax collections continue to grow rapidly, rising 0.8% in July...." See MSA and state indicators at Tracking Tennessee's Economy.

Seasonally adjusted initial claims for unemployment insurance in TN increased in Jan. following a large decline in Dec. The less volatile trend continues to show improvement, however.
Permits issued for single-family home construction in TN fell again in Dec, the 2nd monthly decline following a large increase in Oct. The trend continues to show improvement.
Tennessee unemployment rate remained at 7.6% in Dec., down from 8.5% a year ago.
Seasonally adjusted nonfarm employment for TN gained 3,000 jobs in Dec. from the previous month. Over the year, nonfarm employment has gained 36,400 jobs, up 1.4%.
State sales tax collections up 5.1% in Dec. over the year (seasonally adjusted), the largest rise since June 2012.

Graphs: Tracking Tennessee's Economic Recovery | MSA | County

mtsu.edu/berc/tacir

State sales tax collections climbed 5.1% in December over the year after seasonal adjustment, the largest increase since June 2012.

[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: http://mtsu.edu/berc/tacir

Seasonally adjusted initial claims for unemployment insurance are gently rising, reflecting an increased number of layoffs for Tennessee employers in August. The trend for UI claims has increased to 6,040 per week in August, rising from the recent low of 5,801 per week in April. Rising initial claims will place upward pressure on the unemployment rate.
Single family home construction for Tennessee, as measured by seasonally adjusted building permits, rose to 1,084 units in July, up from 1,011 in June. The less volatile trend also increased.
Tennessee's unemployment rate climbed to 8.4% in July, the third monthly rise. Employment, according to the household survey, declined in July, following declines in all but one month this year.
Seasonally adjusted nonfarm employment rose slightly in July, adding 6,400 jobs. While higher than in June, nonfarm employment has shown little change in 2012.
Seasonally adjusted state sales tax collections were about the same in July as in June. The less volatile moving average has shown little change since March.
Details by MSA

The annual MTSU conference is scheduled for Friday, September 21, at Embassy Suites, Murfreesboro. To register,

www.mtsu.edu/berc/tacir
Economic indicators and employment heat tables for Tennessee and 10 MSAs have been updated through May.

Seasonally adjusted Tennessee initial claims for unemployment insurance climbed in May to a weekly average of 5,689 compared with 5,112 for April, signaling a rise in layoff activity. The less volatile moving average continued to decline, however, falling to its lowest level since April 2006.
The unemployment rate for Tennessee rose in May to 7.9 percent, as not enough jobs were created to absorb a rise in the number of job seekers. The unemployment rate increased from April in all metropolitan areas with the exception of Clarksville.
Seasonally adjusted single-family home construction for May rose substantially for Tennessee and for six of 10 metropolitan areas. The less volatile moving average is on the rise for Chattanooga, Clarksville, Knoxville, and Memphis MSAs but flat for the Cleveland, Jackson, Johnson City, and Morristown MSAs. The trend is falling somewhat for the Kingsport-Bristol and Nashville MSAs.
Seasonally adjusted state sales tax collections hit a rough spot in May, with the state and all but one MSA showing a drop from the previous month. The less volatile moving average continued to climb, however.
Nonfarm employment for May is virtually unchanged from April. Job growth has been very modest during the past four months.

See graphs and downloadable tables at Tracking Tennessee's Economic Recovery.