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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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