Tag Archives: May

TN Unemployment Rose to 8.3 Percent in May

News release from Department of Labor and Workforce Development:
NASHVILLE – Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today Tennessee’s unemployment rate for May was 8.3 percent, which increased three tenths of one percentage point from the April revised rate of 8.0 percent. The national unemployment rate for May 2013 was 7.6 percent, increasing by one tenth of one percentage point from the previous month.
Economic Summary:
Tennessee’s labor force hit a record high in May, mostly from new entrants, reentrants, and dislocated workers returning to the labor force as unemployed persons.
Total nonfarm employment increased 5,700 from April to May. The largest increases occurred in accommodation/food services, administrative/support/waste services, and retail trade.
Over the year, nonfarm employment increased 52,500. The largest increases were in professional/business services, accommodation/food services, and health care/social assistance.

State Revenue Still on the Increase in May

News release from Department of Finance and Administration:
NASHVILLE, Tenn. – Tennessee revenue collections continued an upward growth trend in May with a net positive growth of 3.92% over collections made in the same month last year. Finance and Administration Commissioner Larry Martin reported today that overall May revenues were $905.3 million or $31.5 million more than the state budgeted. It’s the tenth consecutive month this fiscal year in which total collections have reflected positive growth.
“The sales tax growth rate rebounded in May compared to earlier months, mainly because of building materials sales and purchases of new automobiles,” Martin said. “Corporate tax collections continued to show strong growth, exceeding budgeted expectations.
“Tennessee’s sales tax collections suggest that we are continuing to slowly recover from the worst recession on record. Slow recovery coupled with national and global economic concerns call for us to closely monitor collections and expenditures for the remainder of the year.”

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Bills Signed by the Governor, 5/10/2013

Bills recently signed by Gov. Bill Haslam, as provided by his office May 10, 2013:
Senate Bill No. 1327 (Ketron, Harper)
This bill expands the definition of “urban park centers” for the purposes of selling alcohol at various venues in Davidson County.
(Passed Senate as Amended 21-10; Amended Bill Passed House 62-25)
Senate Bill No. 1246 (Hensley, Bowling, Campfield)
This bill creates a sunset for the Bureau of TennCare and sets that date to be June 30, 2015.
(Passed Senate as Amended 31-0; Amended Bill Passed House 88-0)

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TN Unemployment Rate 7.9 Percent in May

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment increased slightly in May, the first increase in two years.
The 7.9 percent unemployment rate is up from 7.7 percent in April.
Labor and Workforce Development Commissioner Karla Davis said in a release on Thursday that the increase in the jobless rate is mainly due to people “re-entering the workforce to look for work.”
The national unemployment rate for May was 8.2 percent, 0.1 percentage point higher than the previous month.
Education and health services saw the biggest increase compared with last month, at a growth rate of 1.5 percent. Next were jobs in mining, logging and construction at 1.2 percent, and positions in government at 0.2 percent.

State Revenue Still on the Upswing in May

News release from state Department of Finance and Administration:
NASHVILLE – Tennessee revenue collections continued an upward growth trend in May with a net positive growth of 3.40% over collections made in the same month last year. Finance and Administration Commissioner Mark Emkes reported today that overall May revenues were $871.1 million, which is $15.6 million more than the state budgeted.
“May marks the tenth consecutive month this year in which total collections have exceeded the budgeted estimates,” Emkes said. “While we’ve seen growth in sales tax collections for the past 26 consecutive months, the growth has slowed – and corporate tax collections for May were below the budgeted estimate.
“Because the national and global economies remain concerns, we will continue to closely monitor collections and expenditures for the remainder of this year in order to financially posture ourselves for the future.”

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TN Unemployment Rate 9.7 Percent in May

Tennessee’s unemployment rate June was 9.8 percent, up from a revised 9.7 percent in May, the Department of Labor and Workforce Development said Thursday.
The national unemployment rate for June was 9.2 percent, up from 9.1 percent in May.
“The decline in employment combined with a slight expansion in the labor force explains the higher unemployment rate,” Labor Commissioner Karla Davis said in a prepared statement “This is the third month in a row in which the unemployment rate has slightly increased.”
The number of employed Tennesseans decreased by 3,200 from May to June 2011, according to a department survey. The civilian labor force increased by 1,800, and at 3,143,900 is the highest on record.
“The increase in employment levels over the last 12 months is still positive with more than 74,000 jobs gained,” added Davis. “This growth rate of 2.7 percent is much higher than the national employment picture which only grew 0.2 percent from June 2010 to June 2011.”
The leisure and hospitality sector posted the biggest gains from May to June up 4,700 jobs. Mining, logging, and construction was up 1,900; and manufacturing increased by 1,600. Government jobs decreased by 30,800 (mostly due to local government educational service declines; educational services were down by 3,000; and administrative, support and waste services declined by 1,700.
(From the News Sentinel)

Note: Tennessee Democratic Party spokesman Brandon Puttbrese distributed a Haslam-basing statement based on the latest unemployment figures. It’s below.

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TN Unemployment Rate 9.7 Percent in May

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment rate in May increased to 9.7 percent, up 0.1 percent from the April rate.
Commissioner of Labor and Workforce Development Karla Davis said in a news release on Thursday that the slight increase is a result of “significant growth in the labor force” because of optimism in the improving economy.
Says Davis: “Workers are entering the labor force faster than the economy is creating jobs.”
According to a survey of businesses, monthly employment increases came in leisure and hospitality, up 5,700 jobs; manufacturing, up 2,000; and mining, logging, and construction, up 1,900 jobs.
Declines occurred in private educational and health services, down 3,100 jobs; government, down 2,000; and professional, scientific and technical services, down 2,000.

State’s Tax Collections Up Again in May

News release from Department of Finance and Administration:
NASHVILLE – Tennessee revenue collections continued a predicted steady growth trend in May. Finance and Administration Commissioner Mark Emkes today reported a net positive growth of 9.82% over May 2010 collections. Overall May revenues were $842.5 million, which is $63.5 million more than the state budgeted.
“May marks the ninth consecutive month this year in which total collections have exceeded the budgeted estimates,” Emkes said. “Sales tax collections recorded the 14th consecutive month of positive growth, and corporate tax collections were also above the estimate.
“Although Tennessee’s revenue collections continue to show a positive growth trend, the national leading economic indicators are causing us concern and require us to continue to closely monitor expenditures for the remainder of this year so that we end the fiscal year with a balanced budget.”

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