Tag Archives: february

TN Unemployment Rate in February: 7.8 Percent

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment rate for February was 7.8 percent, a slight increase from the previous month.
Department of Labor and Workforce Development Commissioner Karla Davis said Thursday that’s the lowest February rate since 2008.
The unemployment rate for January was 7.7 percent. The national unemployment rate for February was 7.7 percent.
State figures show that nonfarm employment increased by 11,400 jobs from January to Februar

State Tax Collections Ahead of Projections in February

News release from Department of Finance and Administration:
NASHVILLE, Tenn. – Tennessee tax collections continued their upward trend in February. Department of Finance and Administration Commissioner Mark Emkes today announced that overall February revenues were $744.3 million, which is $5.0 million more than the state budgeted.
“Total collections in February marked the seventh consecutive positive growth month this year,” Emkes said. “Sales tax collections, reflecting January spending, recorded modest growth as did several of the smaller tax categories.
“While we continue to believe the modest growth rate in sales tax collections is indicative of a very slow but improving economy in Tennessee, we are concerned that escalating gasoline prices and the failure of Congress to enact a budget will soon begin to erode the positive growth trend we are now enjoying. We’ll monitor collections and spending and work with the General Assembly to end the fiscal year in June with a balanced budget.”
On an accrual basis, February is the seventh month in the 2012-2013 fiscal year.
The general fund was over collected by $12.0 million and the four other funds were under collected by $7.0 million.

Continue reading

TN Unemployment Rate Down to 8%

NASHVILLE, Tenn. (AP) — The Tennessee unemployment rate has fallen 0.02 percent to 8 percent in February, the lowest since November 2008.
State officials said Thursday that Tennessee gained some 4,800 jobs in February.
University of Tennessee economist Bill Fox said the state has gained more than 50,000 jobs in the past year. He said monthly data show reasonable job increases in health care, durable manufacturing and temporary employment agencies.
The national unemployment rate in February was 8.3 percent, unchanged from January.

State Revenue Still Rising in February

News release from Department of Finance and Administration:
NASHVILLE – Tennessee tax collections continued their upward trend in February. Department of Finance and Administration Commissioner Mark Emkes today announced that overall February revenues were $726.6 million, which is $20.2 million more than the state budgeted.
“February sales tax collections, reflecting January spending, recorded the 23rd consecutive month of positive growth,” Emkes said. “While we believe the healthy growth rate in sales tax collections for February is indicative of an improving economy in Tennessee, we are concerned that escalating gasoline prices will soon begin to erode the positive growth trend we are now enjoying.
“In the months ahead, we will monitor very closely our collections and expenditure patterns and work closely with the Legislature in order to end this fiscal year with a balanced budget as constitutionally required.”

Continue reading