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Tennessee

[Note: Indicators Updated November 2, 2016]
  • Seasonally adjusted initial claims for unemployment insurance in Tennessee climbed a bit to 3,158 per week from 3,097 in August. The trend pushed slightly lower, with underlying layoffs remaining at extremely low levels. [graph]
  • Permits issued for single-family home construction for Tennessee rose again in September, climbing to 2,256 units from 2,171 in August. Rising activity in August and September contrasts with the previous six months that produced little change. Over the year, single family permits are 13.0% higher while total permits are up 19.9%. [graph]
  • State sales tax collections changed little in September, rising 0.2% from in August. Trend collections have changed little since June. Over the year, state sales tax collections are up 4.6% for Tennessee. Eight of the ten metropolitan areas show gains of 3% or higher over the year. [graph]
  • Seasonally adjusted nonfarm employment for Tennessee gained 14,800 in September from August. The fastest growing sectors include construction, education and health services, and nondurable goods manufacturing. Over the year, Tennessee nonfarm employment is up 2.5%. All ten metropolitan areas in the state experienced job gains over the year. [graph]
  • Unemployment rate for Tennesseee rose for the third consecutive month to 4.6%, but remains lower than the U.S. rate of 5.0%. A significant portion of the increase in Tennessee could be attributed to those re-entering the labor force in search of work. [graph]
  • Average weekly hours worked for Tennessee were unchanged from August at 35.5. Over the year, hours worked are up by 1.4%. [graph]
  • Average hourly earnings for Tennessee rose to $22.00 in September, gaining 4.8% over the year. Earnings in Chattanooga, Knoxville, and Nashville rose 5.5% or more over the year. [graph]

Employment Growth by Industry

Housing