Economic Indicators - Nashville MSA
.xls file
Employment |
| Labor data |
Nov.2005 |
Nov.2006 |
Nov.2007 |
Nov.2008 |
Nov.2009* |
| Labor force |
767,263 |
784,456 |
797,086 |
798,905 |
781,740 |
| Employment |
732,543 |
753,096 |
761,238 |
749,038 |
711,600 |
| |
|
|
|
|
| Nonfarm employment |
|
|
|
|
| Sector |
|
Nov.2008 |
Nov.2009* |
% Change |
| Construction and mining |
38,400 |
33,400 |
-13.02% |
| Manufacturing |
71,100 |
63,400 |
-10.83% |
| Trade, transportation, and utilities |
154,600 |
150,400 |
-2.72% |
| Information |
21,300 |
20,300 |
-4.69% |
| Financial activities |
45,900 |
45,100 |
-1.74% |
| Professional and business services |
100,300 |
94,100 |
-6.18% |
| Education and health services |
112,000 |
112,800 |
0.71% |
| Leisure and hospitality |
79,600 |
77,900 |
-2.14% |
| Other services |
29,900 |
29,600 |
-1.00% |
| Government |
104,700 |
104,700 |
0.00% |
| Total nonfarm |
757,800 |
731,700 |
-3.44% |
Source: U.S. Bureau of Labor Statistics, TN Dept. of Labor and Workforce Development. *Preliminary.
Unemployment rate |
| |
Nov.04 |
Nov.05 |
Nov.06 |
Nov.07 |
Nov.08 |
Nov.09* |
| Nashville |
4.6% |
4.5% |
4.0% |
4.5% |
6.2 |
9.0% |
Source: U.S. Bureau of Labor Statistics, TN Dept. of Labor and Workforce Development. *Preliminary.
Manufacturing |
| Average Hourly Earnings |
| |
|
|
|
|
% Change |
| Industry |
Nov.06 |
Nov.07 |
Nov.08 |
Nov.09* |
2008-09 |
| Manufacturing |
$14.71 |
$14.95 |
$14.91 |
$15.60 |
4.63% |
| Durable goods** |
$14.82 |
$15.28 |
$16.06 |
$17.13 |
6.66% |
Average Weekly Hours Worked |
| |
|
|
|
|
% Change |
| Industry |
Nov.06 |
Nov.07 |
Nov.08 |
Nov.09* |
2008-09 |
| Manufacturing |
40.1 |
39.3 |
40.3 |
41.5 |
2.98% |
| Durable goods** |
40.5 |
39.9 |
39.7 |
43.1 |
8.56% |
Source: U.S. Bureau of Labor Statistics. *Preliminary.
**Durable goods are items intended to last three or more years, such as cars, furniture, and household appliances.
Aviation activity: Nashville International Airport |
| |
Nov.04 |
Nov.05 |
Nov.06 |
Nov.07 |
Nov.08 |
Nov.09 |
| Total passengers |
713,473 |
763,676 |
829,513 |
800,242 |
694,088 |
721,974 |
| Air cargo+freight tons |
6,417 |
5,806 |
6,427 |
6,148 |
5,112 |
3,804 |
Housing units authorized by building permits |
| |
Nov.04 |
Nov.05 |
Nov.06 |
Nov.07 |
Nov.08 |
Nov.09 |
| Housing units |
|
|
|
|
|
|
| Multifamily |
36 |
34 |
32 |
694 |
121 |
13 |
| Single family |
966 |
1,197 |
959 |
486 |
215 |
299 |
| Total units |
1,002 |
1,225 |
991 |
1,180 |
336 |
312 |
| Value, thousand $ |
|
|
|
|
|
|
| Multifamily |
5,953 |
2,198 |
2,873 |
61,281 |
7,023 |
1,009 |
| Single family |
143,791 |
197,269 |
165,632 |
105,285 |
41,293 |
57,769 |
| Total |
149,744 |
199,467 |
168,505 |
166,566 |
48,683 |
58,778 |
Source: U.S. Census Bureau. *Preliminary.
Real estate activity |
| Residential |
Nov.2006 |
Nov.2007 |
Nov.2008 |
Nov.2009 |
| Closings |
2,256 |
1,747 |
1,029 |
1,621 |
| Inventory |
11,703 |
14,557 |
14,167 |
13,439 |
| Median price |
$174,900 |
$179,900 |
$165,000 |
$158,500 |
Source: Greater Nashville Association of Realtors.
Hotel occupancy and room rates |
| |
Occ. rate |
Occ. rate |
Avg. rm. rate |
Avg. rm. rate |
| |
Nov.08 |
Nov.09 |
Nov.08 |
Nov.09 |
| Nashville |
55.6% |
53.8% |
$97.16 |
$89.89 |
| United States |
51.7% |
49.5% |
$102.10 |
$93.60 |
Source: Smith Travel Research.
Taxable sales (billion $) |
| |
Oct. 04 |
Oct. 05 |
Oct. 06 |
Oct. 07 |
Oct. 08 |
Oct. 09 |
| Nashville MSA |
2.00 |
2.20 |
2.32 |
2.43 |
2.21 |
2.11 |
Source: TN Dept. of Revenue, MTSU Business and Economic Research Center.
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