Lowest Initial Unemployment Claims since 1990

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

BERC research shows Tennessee initial unemployment claims dropped in August to the lowest level since 1990. See more state and MSA indicators at Tracking Tennessee's Economy: http://capone.mtsu.edu/berc/tacir/tacir.html 

Updated Economic Indicators

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.

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.

Economic Indicators Updated

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

Tennessee initial unemployment claims, single-family home permits, and unemployment rate dropped in May, sales tax collections and nonfarm employment gained, and average weekly hours and earnings were unchanged from April. See graphs for the state and 10 MSAs 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 Tennessee and MSAs

http://mtsu.edu/berc/tacir 

In February, Tennessee permits for single-family home construction declined following a strong January performance, seasonally adjusted nonfarm employment was virtually unchanged, and the unemployment rate dipped slightly. For details by MSA, see the Tracking Tennessee's Economic Recovery site. 

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

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

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

Tennessee single-family home construction permits rose 9.0% and state sales tax collections climbed 3.9% in January from the previous month after seasonal adjustments. For details by MSA, check the Tracking Tennessee's Economic Recovery site.

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

Updated Economic Indicators

http://mtsu.edu/berc/tacir 

Tennessee single-family permits, nonfarm employment, and initial unemployment claims rose in December, while state sales tax collections, unemployment rate, and average weekly hours and earnings declined. See graphs for individual metro areas 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 

• Seasonally adjusted initial claims for Tennessee dropped sharply in March to a weekly average of 4,849. Claims had followed a rising trend since November.
• Permits issued for single-family home construction for Tennessee for Tennessee fell 4.4% in March after seasonal adjustments. Of more concern is the continuation of weakness in the trend, which has been in decline since last summer. Over the year, single-family construction is 9.6% higher, while multi-family construction is up 18.6%.
• State sales tax collections jumped higher in March after seasonal adjustments, rising 4.0% from February. Over the year, collections are up 5.4%.
• Seasonally adjusted nonfarm employment for Tennessee rose 0.2% in March, a gain of 4,200 jobs from February. The rate of growth of job creation in the private sector remained at 2.1% over the year.
• Unemployment rate for Tennessee fell to 6.7% in March, equaling the U.S. unemployment rate for the first time in nearly two years. 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 

• 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