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Tennessee

  • Seasonally adjusted initial claims for unemployment insurance in Tennessee declined slightly in July, falling to a weekly average of 4,320, very near the trend of 4,416 claims. Both seasonally adjusted claims and trend have improved following the large increase in claims in March. [graph]
  • Permits issued for single-family home construction for Tennessee climbed to 2,030 units in June compared with 1,815 for the previous month, breaking the 2,000 mark for the first time since 2007. Over the year, single-family unit permits have increased 38.9%, and total permits are up 33.0%. [graph]
  • State sales tax collections grew quickly in June, rising 1.9% from the previous month after seasonal adjustments. State sales tax collections are 7.6% higher over the year, with eight of the 10 metropolitan areas in Tennessee experiencing gains of 5.5% or higher. [graph]
  • Seasonally adjusted nonfarm employment for Tennessee rose 6,500 in June from the previous month, with the largest job gains in professional and business services, education and health services, and leisure and hospitality. Over the year, nonfarm employment is up 2.3%. [graph]
  • Unemployment rate for Tennessee dropped to 5.7% in June, edging closer to the U.S. rate (5.3%). The unemployment rate is lower than 6% in five of the 10 metropolitan areas in the state. [graph]
  • Average weekly hours for Tennessee dipped to 34.9 in June, down from the recent peak of 35.2 hours in March. Over the year, weekly hours are down 1.4%. [graph]
  • Average hourly earnings for Tennessee were little changed in June at $20.80 per hour. Hourly earnings have changed little over the year. [graph]

Employment Growth by Industry

Housing

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