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[Note: Indicators Updated September 29, 2016]
  • Seasonally adjusted initial claims for unemployment insurance in Tennessee rose to 3,097 in August from 2,624 in the previous month. Claims continue to trend lower, however. Low initial claims are a signal that employers are laying off very few workers. [graph]
  • Permits issued for single-family home construction for Tennessee rose to 2,171 in August from 1,898 in July. Despite this gain, the trend for construction activity has been sliding sideways since last November. Over the year, single family permits are 16.5% higher while total permits are just 1.1% higher. [graph]
  • State sales tax collections fell in August, down 1.9% from July. Over the year, state sales tax collections are up 2.1%. Seven of the ten metropolitan areas show gains over the year. [graph]
  • Seasonally adjusted nonfarm employment for Tennessee gained 7,300 from July, with the August figure 2.2% higher over the year. The fastest growing sectors include construction (+6.2% over the year) and education and health services (+4.2%). All ten metropolitan areas in the state experienced job gains over the year. [graph]
  • Unemployment rate for Tennesseee rose slightly to 4.4% in August. The unemployment rate is lower than 5.5% in all ten MSAs, and lowest in the Nashville MSA at 3.7%. [graph]
  • Average weekly hours worked for Tennessee changed little in August at 35.4, about the same as last fall. [graph]
  • Average hourly earnings for Tennessee rose to $21.90 in August, 10 cents higher than July. Over the year, hourly earnings are 3.8% higher for the state and are higher in six of the ten metropolitan areas. [graph]

Employment Growth by Industry