Tennessee Housing Market 3rd Quarter 2013

http://capone.mtsu.edu/berc/housingbrief.html 

"On balance, the housing market in Tennessee improved during the third quarter of 2013 but at a slower pace than in previous quarters...." Read more in Tennessee Housing Market published by the Jones College Business and Economic Research Center.

Economic Outlook Presentation

BERC director David Penn's presentation from the annual Jones College Economic Outlook Conference September 27: [View as pdf | View as ppt]

Tennessee Housing Market Report

http://capone.mtsu.edu/berc/housingbrief.html 

Job creation accelerated in the 1st quarter, but the housing market did not. Read details in the new report by David Penn, director of the Business and Economic Research Center.

[Download pdf]    [See Flash page-flip view]

BERC Nashville Nonprofit Sector Economic Study

The nonprofit sector contributed $20.9 billion to the regional economy in 2011, according to a study by our Business and Economic Research Center for the Center for Nonprofit Management.

[ See Tennessean article  |  download entire study pdf ]

Business and Economic Research Center News

www.mtsu.edu/berc 

Tennessee Housing Market 4th Quarter
The housing market continues to improve, especially single-family homes. [more]

Expectations for Nashville Economy
David Penn's presentation to Nashville Risk Management Association Feb. 14
[presentation pdf]

Tennessee Economic Indicators

• Seasonally adjusted initial claims for unemployment insurance in TN increased in Jan. following a large decline in Dec. The less volatile trend continues to show improvement, however. 
• Permits issued for single-family home construction in TN fell again in Dec, the 2nd monthly decline following a large increase in Oct. The trend continues to show improvement. 
• Tennessee unemployment rate remained at 7.6% in Dec., down from 8.5% a year ago. 
• Seasonally adjusted nonfarm employment for TN gained 3,000 jobs in Dec. from the previous month. Over the year, nonfarm employment has gained 36,400 jobs, up 1.4%.
  
• State sales tax collections up 5.1% in Dec. over the year (seasonally adjusted), the largest rise since June 2012. 

Graphs: Tracking Tennessee's Economic Recovery | MSA | County

Updated Employment Data from BERC

http://mtsu.edu/berc

Employment Indicators

• Tennessee unemployment rate fell to 7.6% in Nov., down from 8.2% in Oct. and 8.7% a year ago. Rising employment pushed the unemployment rate lower.
• Seasonally adjusted nonfarm employment for Tennessee rose again in Nov. to the highest level this year and is 1.0% higher over the year, up by 25,800 jobs. All but 3 metro areas are gaining jobs over the year, led by Clarksville and Jackson MSAs. 
• See graphs at Tracking Tennessee's Economic Recovery.

Employment Growth by Industry

Heat tables and summary tables

• Chattanooga MSA
• Clarksville MSA
• Cleveland MSA
• Jackson MSA
• Johnson City MSA
• Kingsport-Bristol MSA
• Knoxville MSA
• Memphis MSA
• Morristown MSA
• Nashville MSA
• Tennessee

[http://www.mtsu.edu/~berc/tacir/tennesseejobs.html]

Tennessee Housing Market

http://www.mtsu.edu/~berc/housingbrief.html 

The Business and Economic Research Center has posted its 3rd Quarter 2012 Tennessee housing newsletter. Housing and manufacturing are leading Tennessee's economy. Single-family home construction is rising but from very low levels. Home sales are gaining in 2 of the 3 largest metro markets. Price stability has reached 6 of the 10 metro areas. [full report]

Report: County Employment and Wages

http://mtsu.edu/berc 

New special report from the Business and Economic Research Center:
Tennessee County Employment and Wages (pdf, Oct. 1, 2012)

Experts Forecast Mixed 2013 at MTSU Economic Outlook Conference

http://mtsunews.com/economic-outlook-conference-2012/ 

The Midstate economy has shown promising signs of recovery heading into 2013, but regulatory and policy-making uncertainty on the national stage continue to hinder sustained economic growth and threaten to reverse any economic momentum gained since the peak of the recession. [more]

Economic Outlook 2012

Download presentation pdf

Economist David Penn's presentation (pdf)

Economic Outlook Conference Sept. 21

(Business and Economic Research Center)

Economic Indicators and Outlook Conference

http://www.mtsu.edu/berc

• Seasonally adjusted initial claims for unemployment insurance are gently rising, reflecting an increased number of layoffs for Tennessee employers in August. The trend for UI claims has increased to 6,040 per week in August, rising from the recent low of 5,801 per week in April. Rising initial claims will place upward pressure on the unemployment rate.
• Single family home construction for Tennessee, as measured by seasonally adjusted building permits, rose to 1,084 units in July, up from 1,011 in June. The less volatile trend also increased.
• Tennessee's unemployment rate climbed to 8.4% in July, the third monthly rise. Employment, according to the household survey, declined in July, following declines in all but one month this year.
• Seasonally adjusted nonfarm employment rose slightly in July, adding 6,400 jobs. While higher than in June, nonfarm employment has shown little change in 2012.
• Seasonally adjusted state sales tax collections were about the same in July as in June. The less volatile moving average has shown little change since March.
• Details by MSA

Economic Outlook Conference Friday

The annual MTSU conference is scheduled for Friday, September 21, at Embassy Suites, Murfreesboro. To register,

• call 615-898-2764, or 
• email teena.young@mtsu.edu

Special Report: State Sales Tax Collections

http://mtsu.edu/berc/tacir  

"State Sales Tax Collections and Purchasing Power" 

State sales tax collections for April rose 8.8% over the year. Collections for all 10 MSAs increased at least 5%, with five MSAs experiencing double-digit gains.... 

[download report pdf]

Comparison of Tennesseans' Income Based on Education

How much difference does a college degree make to an average Tennessean's income? Find out in this table: American Community Survey 1-Year Estimates [pdf] .

It's just one of many articles in Tennessee's Business: Job Creation [contents].

Features include:

• "Business Creations and Expansions, 2009,"
  an overview of the latest data and comparison to the 2001-2002 recession, by Tennessee State Data Center Director Randy Gustafson
• "Job Creation: What Really Works?"
  by David Hayes, MTSU Department of Economics and Finance adjunct faculty and Tennessee Workforce Development Board member

and more:

• Tennessee State Small Business Development Center's
  2011 results
• Tennessee green investments,
  an economic impact study on selected summarized by BERC Associate Director Murat Arik
• Tracking the state's economic recovery
  by staff of MTSU's Business and Economic Research Center and the Tennessee Advisory Commission on Intergovernmental Relations
• State job creation initiatives, an overview

plus:

• American Community Survey 1-year employment estimates in pdf format

[Flash page-flip view]

Corrected Link: DePrince Report to State Funding Board

Correction:
The State of the Economy and Prospects for Tax Revenue in Tennessee: Report by Dr. Albert DePrince to Tennessee State Funding Board Dec. 9, 2011

Annual MTSU Economic Outlook Conference

Friday, Sept. 30, 2011, 8:15 a.m. – 1:15 p.m.
Embassy Suites, 1200 Conference Center Blvd., Murfreesboro [ map ]

Sponsors:
Jennings A. Jones Chair of Excellence in Free Enterprise
MTSU Business and Economic Research Center
Weatherford Chair of Finance

8:15	Registration
9:00	Mark Emkes, Tennessee Commissioner of Finance and Administration
10:30	Dr. David Penn, BERC Director, Midstate/Regional Economic Update
11:30	Luncheon
12:00	Dr. Donald Ratajczak, Regents Professor of Economics Emeritus, Georgia State University, Economic Forecast

Cost: $50 per registrant to cover facilities, refreshments, and registration. Refunds are not permitted but substitution of participants is welcomed.

Register Online [  form ]

Tennessee Housing Market: 1st Qtr 2011

http://www.mtsu.edu/~berc/housingbrief.html  

Tennessee Housing Market: 1st Qtr 2011

• marginal improvement
• home sales up
• construction stable
• prices continued to drop
• 4Q 2010 numbers revised

Destination Rutherford Nets $2.5M in Pledges

http://tinyurl.com/3qg8wgl

Started some 8 years ago when a BERC study found the county's average wages weren't rising, Destination Rutherford officials said Tuesday they've raised 63 percent of a $4 million goal as they unveiled a five-year mission to create 5,000 jobs here with projected earnings of $219 million. The jobs initiative calls for creating 4,396 indirect positions with a $166 million payroll for a total impact of 9,396 jobs and $385 million in earnings by sometime in 2015. More than 50 percent of the jobs are expected to pay above the average Rutherford County wage of $41,964, which is about $1,600 more than the state average. [Daily News Journal, May 10)

Opry Mills to Benefit Jobless Rate

http://tinyurl.com/3e5v3l5
From the Tennessean: "The dramatic impact here of Opry Mills' reopening would be sparked because the 3,000 new jobs would end up putting an additional 1,500 people to work through indirect jobs, meaning a total of 4,500 jobs pumped into the labor market, said Arik, associate director of the Business and Economic Research Center at MTSU."

Tennessee County Economic Dashboard

New on the site of the Business and Economic Research Center:

Indicators for each of the state's 95 counties:
http://www.mtsu.edu/~berc

Tennessee Jobless Rate Rises

Japan's Disasters May Have Impact

From the Tennessean March 18:

"In the short-term, I don't expect to see any layoffs related to the Japanese disaster," said economist Murat Arik, associate director of the Business & Economic Research Center at Middle Tennessee State University in Murfreesboro.

Still, the situation is fluid, and to the extent that local auto-sector firms need parts or production from Japan, they could be forced to close temporarily until that supply returns, cautions Steven Livingston, editor of a global trade newsletter and a political science professor at MTSU.

[article]