Economic Indicators - Nashville MSA
REVISED .xls file
Employment |
| Labor data |
Sept. 2006 |
Sept. 2007 |
Sept. 2008 |
Sept. 2009* |
| Labor force |
776,580 |
791,257 |
800,636 |
783,531 |
| Employment |
747,145 |
757,995 |
753,837 |
710,931 |
| |
|
|
|
|
| Nonfarm employment |
|
|
|
|
| Sector |
|
Sept. 2008 |
Sept. 2009* |
% Change |
| Construction and mining |
39,500 |
34,800 |
-11.90% |
| Manufacturing |
72,700 |
64,000 |
-11.97% |
| Trade, transportation, and utilities |
152,900 |
147,400 |
-3.60% |
| Information |
21,100 |
20,300 |
-3.79% |
| Financial activities |
46,000 |
45,000 |
-2.17% |
| Professional and business services |
100,500 |
93,200 |
-7.26% |
| Education and health services |
111,500 |
112,200 |
0.63% |
| Leisure and hospitality |
80,500 |
78,400 |
-2.61% |
| Other services |
30,300 |
29,500 |
-2.64% |
| Government |
105,400 |
103,500 |
-1.80% |
| Total nonfarm |
760,400 |
728,300 |
-4.22% |
Source: U.S. Bureau of Labor Statistics, TN Dept. of Labor and Workforce Development. *Preliminary.
Unemployment rate |
| |
Sept. 06 |
Sept. 07 |
Sept. 08 |
Sept. 09* |
| Nashville |
3.8% |
4.2% |
5.8% |
9.3% |
Source: U.S. Bureau of Labor Statistics, TN Dept. of Labor and Workforce Development. *Preliminary.
Manufacturing |
| Average Hourly Earnings |
| |
|
|
|
|
% Change |
| Industry |
Sept. 06 |
Sept. 07 |
Sept. 08 |
Sept. 09* |
2008-09 |
| Manufacturing |
$14.65 |
$14.97 |
$14.89 |
$15.33 |
2.96% |
| Durable goods** |
$14.78 |
$15.34 |
$15.88 |
$16.40 |
3.27% |
Average Weekly Hours Worked |
| |
|
|
|
|
% Change |
| Industry |
Sept. 06 |
Sept. 07 |
Sept. 08 |
Sept. 09* |
2008-09 |
| Manufacturing |
39.8 |
39.7 |
40.1 |
42.1 |
4.99% |
| Durable goods** |
40.3 |
40.1 |
39.8 |
46.8 |
17.59% |
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 |
| |
Sept. 04 |
Sept. 05 |
Sept. 06 |
Sept. 07 |
Sept. 08 |
Sept. 09 |
| Total passengers |
672,292 |
771,016 |
774,080 |
758,368 |
686,774 |
707,757 |
| Air cargo+freight tons |
6,021 |
6,171 |
7,210 |
6,684 |
5,557 |
2,569 |
Housing units authorized by building permits |
| |
Sept. 04 |
Sept. 05 |
Sept. 06 |
Sept. 07 |
Sept. 08 |
Sept. 09 |
| Housing units |
|
|
|
|
|
|
| Multifamily |
279 |
34 |
365 |
533 |
276 |
36 |
| Single family |
1,125 |
1,166 |
962 |
610 |
434 |
291 |
| Total units |
1,404 |
1,200 |
1,327 |
1,143 |
710 |
327 |
| Value, thousand $ |
|
|
|
|
|
|
| Multifamily |
16,024 |
2,669 |
35,156 |
52,473 |
20,426 |
2,522 |
| Single family |
173,974 |
197,083 |
166,900 |
120,854 |
81,781 |
53,138 |
| Total |
189,998 |
199,752 |
202,056 |
173,327 |
102,207 |
55,660 |
Source: U.S. Census Bureau. *Preliminary.
Real estate activity |
| Residential |
Sept. 2006 |
Sept. 2007 |
Sept. 2008 |
Sept. 2009 |
| Closings |
2,667 |
2,014 |
1,761 |
1,623 |
| Inventory |
11,981 |
15,438 |
15,053 |
14,461 |
| Median price |
$178,900 |
$182,291 |
$169,900 |
$160,000 |
Source: Greater Nashville Association of Realtors.
Hotel occupancy and room rates |
| |
Occ. rate |
Occ. rate |
Occ. rate |
Avg. rm. rate |
Avg. rm. rate |
Avg. rm. rate |
| |
Sept. 07 |
Sept. 08 |
Sept. 09 |
Sept. 08 |
Sept. 08 |
Sept. 09 |
| Nashville |
64.9% |
57.2% |
54.7% |
$92.10 |
$95.00 |
$87.96 |
| United States |
64.5% |
60.5% |
56.7% |
$104.14 |
$107.63 |
$96.67 |
Source: Smith Travel Research.
Taxable sales (billion $) |
| |
Aug. 04 |
Aug. 05 |
Aug. 06 |
Aug. 07 |
Aug. 08 |
Aug. 09 |
| Nashville MSA |
2.00 |
2.24 |
2.36 |
2.45 |
2.35 |
Revised: 2.11 |
Source: TN Dept. of Revenue, MTSU Business and Economic Research Center.
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