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Tennessee

  • 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. [graph]
  • 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. [graph]
  • 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. [graph]
  • 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. [graph]
  • Unemployment rate for Tennessee rose again in August, climbing to 7.4% compared with 6.1% for the United States. [graph]
  • Average weekly hours for Tennessee increased slightly in August to 35.3, equaling the average for the year to date. [graph]
  • Average hourly earnings for Tennessee rose $0.10 in August to $20.80. Earnings per hour have exhibited little net change since January. [graph]

Employment Growth by Industry

Housing

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[See individual MSAs for area headlines.]