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Tennessee

  • Seasonally adjusted initial claims for Tennessee climbed to 5,603 per week in February compared with 5,193 for January. The less-volatile trend also rose. Unseasonably cold weather in February may explain some of the increase. [graph]
  • Permits issued for single-family home construction for Tennessee rose 3.2% in February after seasonal adjustments. The less-volatile trend continued to decline, however, falling for the sixth consecutive month beginning August 2013. Over the year, single-family construction is up 10%. Multi-family construction continues to rise, causing total permits to climb 27% from the previous year. [graph]
  • State sales tax collections fell 1.7% in February from the previous month after seasonal adjustments, the second consecutive monthly decline. Over the year, collections are just 1.1% higher. [graph]
  • Seasonally adjusted nonfarm employment for Tennessee rose 0.2% in February, up nearly 7,000 jobs from January. The rate growth of job creation in the private sector remained at 2.1% over the year. [graph]
  • Unemployment rate for Tennessee fell sharply to 6.9% in February from 7.2% in the previous month, closing in on the U.S. unemployment rate of 6.7%. Rising employment and a steady labor force caused the decline in the unemployment rate. [graph]
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