Economic Indicators Updated

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

Single-family home permits, state sales tax collections, and seasonally adjusted nonfarm employment all rose in June for Tennessee. See graphs for the state and 10 metro areas at Tracking Tennessee's Economy.

Tennessee Economic Indicators

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

Tennessee's unemployment rate and initial unemployment claims declined in April, while single-family housing permits, state sales tax collections, and nonfarm employment rose. See graphs for the state and 10 MSAs at Tracking Tennessee's Economy.

Economic Indicators Updated

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

In March, Tennessee initial unemployment claims and single-family home construction permits rose while state sales tax collections, seasonally adjusted nonfarm employment, unemployment rate, and average weekly hours fell. For graphs of details by MSA, check out Tracking Tennessee's Economy.

Updated Economic Indicators for TN and MSAs

http://mtsu.edu/berc/tacir 

In February, Tennessee initial unemployment claims rose while state sales tax collections fell. In January, nonfarm employment, average weekly hours and earnings rose. See MSA details at Tracking Tennessee's Economic Recovery.

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

Economic Indicators Updated through October

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial claims for Tennessee changed little in October, increasing to 4,571 per week from 4,507 in September. The trend declined slightly. Initial claims remain very low for the state.
• State sales tax collections gained in October after seasonal adjustments. Collections rose 2.5% from September and now are 7.3% higher over the year for Tennessee.
• Seasonally adjusted nonfarm employment for Tennessee rose 7,900 in October from the previous month. Over the year, nonfarm employment is 2.2% higher, a gain of 59,800.
• Unemployment rate for Tennessee declined to 7.1% in October, down from a recent peak of 7.4% for August. Tennessee's unemployment rate remains elevated compared with 5.8% for the U.S. 
• Average weekly hours for Tennessee fell to 34.8 in October. Hours worked are down 1.4% over the year.
• Average hourly earnings for Tennessee gained $0.10 in October September to $20.70 after seasonal adjustments. Hourly earnings are just 2.0% higher over the year.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Economic Indicators Updated through September

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial claims for Tennessee increased slightly in September, climbing to 4,507 per week compared with 4,338 in the previous month.  The trend continued to drift lower.  Initial claims remain at very low levels, lower than prior to the recession.
• State sales tax collections declined in September following a very large August gain.  Seasonally adjusted collections fell 1.2% from the previous month but remain 5.3% higher over the year.
• Seasonally adjusted nonfarm employment for Tennessee climbed by 17,000 jobs in September from the previous month, up 0.3%. Over the year, nonfarm employment is 2.2% higher, up 60,700. (Private-sector-only jobs gained 2.8% over the year.) The growth rate has been on the rise since mid-2013.
• Unemployment rate for Tennessee changed little in September despite the gains in nonfarm employment and falling initial unemployment insurance claims. Tennessee's unemployment rate is 7.3% compared with 5.9% for the U.S.
• Average weekly hours for Tennessee dropped to 35.1 in September, one of the lower numbers reported in the past 12 months.
• Average hourly earnings for Tennessee fell $0.20 in September to $20.60 after seasonal adjustments. Average earnings appear to be weakening following the peak in May of this year.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Economic Indicators through August

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial claims for Tennessee dropped again in August, falling to a new post-recession low of 4,338 per week, after seasonal adjustments. Prior to the recession, initial claims averaged approximately 6,000 per week.
• Permits issued for single-family home construction for Tennessee rose to a post-recession high in August, climbing to 1,704 after seasonal adjustments. Over the year, single-family home permits have increased 28.3%. On the other hand, total permits (single-family plus multi-family) are just 1.0% higher over the year, showing how multi-family activity has cooled considerably.
• State sales tax collections gained 2.4% in August from the previous month, a large month-to-month increase. Over the year in August, seasonally adjusted state sales tax collections are up 6.9% for the state.
• Seasonally adjusted nonfarm employment for Tennessee exceeded the 2.8 million level in August, gaining 0.2% from the previous month. Over the year, nonfarm employment grew 2.1%. Including just private-sector establishments, employment rose a more robust 2.6% over the year.
• Unemployment rate for Tennessee rose again in August, climbing to 7.4% compared with 6.1% for the United States.
• Average weekly hours for Tennessee increased slightly in August to 35.3, equaling the average for the year to date.
• Average hourly earnings for Tennessee rose $0.10 in August to $20.80. Earnings per hour have exhibited little net change since January.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Economic Indicators for July for State and MSAs

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial claims for Tennessee declined in July, falling to 4,608 claims per week, nearly equaling the trend. Initial claims continue to decline as new layoffs become less and less of a problem. 
• Permits issued for single-family home construction for Tennessee posted a substantial gain in July, rising 6.6% from June. The less volatile trend also increased in July. Over the year, single-family home permits are up 4.4% while total permits (single-family plus multi-family) are down 13% higher over the year, showing how the figures can be volatile.
• State sales tax collections experienced a moderate rise in July, up 0.3% from June after seasonal adjustment. Over the year, state sales tax collections are up 3.2% for Tennessee. 
• Seasonally adjusted nonfarm employment for Tennessee was little changed again in July, hovering around the 2.8 million level. Over the year, nonfarm employment is 1.9% higher, rising to 2.7% when government is not included.
• Unemployment rate for Tennessee rose sharply in July, gaining 0.5 points from June. The current level of 7.1% returns the unemployment rate to about the same level as in January. The large decline in employment (from the household survey) is inconsistent with declining initial claims and modestly rising nonfarm employment.
• Average weekly hours for Tennessee fell slightly to 35.2 hours. Hours worked have tended to fluctuate in a narrow band over the past year with no obvious trend.
• Average hourly earnings for Tennessee fell $0.20 in July to $20.70. Following a large rise in 2013, hourly earnings have drifted lower this year. 

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Economic Indicators Updated

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial claims for Tennessee for Tennessee climbed again in June, rising to 5,106 claims per week. The increase pushed new claims slightly higher than the trend.
• Permits issued for single-family home construction for Tennessee climbed from the previous month, rising 22% from a weak May performance. Over the year, single-family home permits are 16.9% higher. Total permits (single-family plus multi-family) are 9.5% higher over the year 
  
• State sales tax collections rose strongly in June after seasonal adjustment, gaining 2.4% from May and 5.5% over the year. Business-related tax collections declined substantially, however, causing total state tax collections to fall.
• Seasonally adjusted nonfarm employment for Tennessee was little changed in June, 2,600 jobs lower than May. Over the year, nonfarm employment is 2.0% higher, gaining 53,600 jobs. 
• Unemployment rate for Tennessee gained 0.2 percentage points, rising to 6.6% compared with 6.1% for the U.S. Over the year, the unemployment rate is 1.8 percentage points lower. 
• Average weekly hours for Tennessee climbed 0.6% from May to 35.4 hours. Over the year, however, hours worked are somewhat lower. 
• Average hourly earnings for Tennessee rose to $20 in June following seasonal adjustments, a gain of 0.5% from May. Over the year, average hourly earnings are 3.4% higher.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators by MSA

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial claims for Tennessee climbed in May following two months of declines. The less volatile trend declined. 
• Permits issued for single-family home construction for Tennessee fell substantially in May, dropping to the lowest level since March 2013. The trend for single-family permits has been flat since the beginning of the year.
• State sales tax collections fell in May after seasonal adjustment. Sales tax collections are just 0.9% higher over the year. 
• Seasonally adjusted nonfarm employment for Tennessee rose 0.2% in May with broad-based gains in both goods-producing and services-providing industries. Nonfarm employment is 2.1% higher over the year. 
• Unemployment rate for Tennessee is little changed in May at 6.4%, about the same as the U.S. unemployment rate. 
• Average weekly hours for Tennessee were unchanged in May and unchanged over the year. Rising hours worked is an advance indicator of hiring pressure. 
• Average hourly earnings for Tennessee fell in May to $20.60. However, hourly earnings for private sector workers are 2.7% higher over the year, a gain larger than the rate of inflation (2.1% CPI).

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Permits issued for single-family home construction for Tennessee rose 3.2% in February after seasonal adjustments. The less-volatile trend continued to decline, however, falling for the sixth consecutive month beginning August 2013. Over the year, single-family construction is up 10%. Multi-family construction continues to rise, causing total permits to climb 27% from the previous year.
• Seasonally adjusted nonfarm employment for Tennessee rose 0.2% in February, up nearly 7,000 jobs from January.  The rate growth of job creation in the private sector remained at 2.1% over the year.
• Unemployment rate for Tennessee fell sharply to 6.9% in February from 7.2% in the previous month, closing in on the U.S. unemployment rate of 6.7%.  Rising employment and a steady labor force caused the decline in the unemployment rate.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Seasonally adjusted initial unemployment claims for Tennessee climbed to 5,603 per week in February compared with 5,193 for January. The less-volatile trend also rose. Unseasonably cold weather in February may explain some of the increase.
• Permits issued for single-family home construction for Tennessee fell 4% from January after seasonal adjustments. Of greater concern is the weakening of construction activity as measured by the less-volatile trend, down for the fifth consecutive month. Over the year, single-family construction is down 7.8%. Multi-family construction continues to surge higher, causing total permits to rise 52% from the previous year.
• State sales tax collections fell 1.7% in February from the previous month after seasonal adjustments, the second consecutive monthly decline. Over the year, collections are just 1.1% higher.
• Seasonally adjusted nonfarm employment for Tennessee in January is slightly lower than the previous month and just 1.4% higher over the year. Slower job growth is consistent with rising layoffs and sales tax collections noted above.
• Unemployment rate for Tennessee fell to 7.2% in January from 7.7% in the previous month. The decrease was due to higher employment according to the household survey measure.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• 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

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• 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

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• 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

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Seasonally adjusted nonfarm employment for Tennessee gained in August, compensating for job losses in July. Gains occurred in manufacturing, trade, leisure and hospitality, and education and health services. Employment in the private sector employment rose 1.9% compared with 1.2% when government is included.
• Unemployment rate for Tennessee remained at 8.5% again in August, the third month at this level. Both employment (measured by the household survey) and unemployment fell during the month.
• State sales tax collections fell in August following a strong performance in July. Seasonally adjusted collections are 3.8% higher over the year.
• Seasonally adjusted initial unemployment claims for Tennessee fell to 5,238 per week in August while the less-volatile trend also declined. The steady decline in the trend of initial claims suggests that fewer and fewer firms are downsizing.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Permits issued for single-family home construction in Tennessee rose in July, rebounding from June. Single-family construction permits are up 32.9% over the year, while total permits (single-family plus multi-family) are 68.3% higher.
• Seasonally adjusted nonfarm employment for Tennessee rose in July to 5,954 per week while the less-volatile trend changed little. Initial claims have dropped to about the same level as in 2007 before the recession.
• Unemployment rate for Tennessee remained at 8.5% in July. As in the previous month, the number unemployed rose, while employment, as measured by the household survey, declined.
• State sales tax collections rebounded higher in July following a decline in June. Seasonally adjusted collections rose 2.5% from June and are 3.4% higher over the year. 
• Seasonally adjusted initial unemployment claims for Tennessee fell again in July due to declines in government, professional and business services, and leisure and hospitality. The private sector employment growth rate is 2.4% over the year, compared with 1.2% when government is included.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Seasonally adjusted nonfarm employment for Tennessee dropped sharply in June due mostly to a loss of government jobs. Nonfarm employment declined 0.6%, the largest one-month decline since 2009, losing 16,500 jobs. Most of the lost jobs occurred in local government and federal government due to federal budget sequester cutbacks. Over the year, the job growth rate fell to 1.2% after seasonal adjustments. Excluding government employment, the private sector nonfarm employment growth rate is 2.1% over the year. 
• Unemployment rate for Tennessee rose to 8.5% in June as the number unemployed rose for the sixth consecutive month while employment, as measured by the household survey, continued to decline.
• State sales tax collections fell sharply in June following a very large unsustainable increase in May. State sales tax collections are just 1.2% higher over the year. 
• Seasonally adjusted initial claims for Tennessee declined in June to 5,477 following three months of increases. The less-volatile trend is little changed. Claims remain very low compared with the past five years. [
• Permits issued for single-family home construction in Tennessee increased greatly in May, rising to 1,574 units from 1,341 in April. The May figure is the most number of permits issued since September 2008. The less volatile also gained, rising to 1,375 units.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Seasonally adjusted nonfarm employment for Tennessee increased 5,700 in May due to gains in manufacturing, trade, professional and business services, and leisure and hospitality. Over the year, nonfarm employment has grown 52,500, but the rate of growth has slowed since January.  Due to public sector downsizing, the private sector growth rate (2.2%) is larger than the growth rate of public and private employers combined (1.9%) over the year.
• The Tennessee unemployment rate continued to gain, increasing to 8.3% in May. The unemployment rate is based on model estimates that rely on a survey of households. Part of the gain in the unemployment rate is due to an increased number of job seekers (unemployed), but part is also due to fewer employed. Declining employment reported by the household survey contrasts with modest job growth registered by the employer survey (nonfarm employment). 
• State sales tax collections rose significantly, gaining 1.6% from April after seasonal adjustments.  Over the year, collections from the state sales tax are 3.9% higher.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

• Seasonally adjusted nonfarm employment for Tennessee increased 4,500 in April due to gains in education and health services and professional and business services. Over the year, nonfarm employment is up 47,900, but the rate of growth has slowed since January. 
• Tennessee unemployment rate increased again in April, rising to 8.0% in contrast with a falling unemployment rate for the U.S. 
• State sales tax collections show little change in April compared with the previous month after seasonal adjustments. Collections are 0.8% lower compared with April 2012.

Graphs: Search by MSA at Tracking Tennessee's Economic Recovery