Morristown Kingsport - Bristol Johnson City Knoxville Cleveland Nashville Jackson Memphis chattanooga clarksville tennessee

Tennessee

[Note: Indicators Updated April 27, 2016]
  • Seasonally adjusted initial claims for unemployment insurance in Tennessee dropped to 3,663 per week in March, down from 4,012 for February. The trend declined slightly. Initial claims remain extremely low by historical standards. [graph]
  • Permits issued for single-family home construction for Tennessee climbed to 2,110 units in March following a large February gain. The less-volatile trend increased slightly. Single-family permits are 20.5% higher over the year while total permits are 26.4% higher. The most growth over the year occurred in the Clarksville MSA and the Nashville MSA. [graph]
  • State sales tax collections gained in March, rising 4.1% from February after seasonal adjustment, representing a large month-to-month increase. Over the year, state sales tax collections are 15.5% higher than March 2015, but about half the growth is due to the fact that March 2015 was a relatively weak month. All ten metropolitan areas show gains over the year. [graph]
  • Seasonally adjusted nonfarm employment for Tennessee declined in March, falling 700 from February. Still, nonfarm employment is 91,800 higher over the year, a gain of 3.2%. All ten metropolitan areas in the state experienced job gains over the year, with seven MSAs increasing 2.5% or more. [graph]
  • Unemployment rate for Tennesseee dropped to 4.5% in March from 4.9% in February, pushing Tennessee's unemployment rate lower than the U.S. The unemployment rate is 5.1% or less in all ten MSAs, and lowest in the Nashville MSA at 3.5%. [graph]
  • Average weekly hours for Tennessee declined to 35.3 from 35.4 in February. Over the year, weekly hours are up 0.3%. [graph]
  • Average hourly earnings for Tennessee rose to $21.30 in March. Over the year, average hourly earnings are 2.9% higher for the state. The most rapid growth has occurred in the Cleveland, Knoxville, Johnson City, and Clarksville MSAs. [graph]

Employment Growth by Industry

Housing