Don’t have time to make sense of all of that great data the Bureau of Labor Statistics (BLS) provides?
We get it.
While the BLS provides a ton of useful employment and economic information, making sense of the numbers (and getting the historic perspective you need) can be a bit cumbersome.
So we’ve done it for you!
Below, we’ve summarized the most recent data from the BLS on the Nashville / Davidson / Murfreesboro / Franklin Metropolitan Statistical Area (MSA).
2015 Nashville Economy
What’s the scoop?
- Nashville’s unemployment rate typically tracks slightly below the national average, and it continues to trend downward. According to the latest economic summary (updated July 31st), the Nashville area’s unemployment rate is at 5.1% – lower than the national rate (5.5%), and over one-half percent lower than our rate this time last year (5.7%).
- Within our MSA, Williamson’s unemployment rate continues to be the lowest, coming in at 4.6%.
- Total nonfarm employment is up 3.9% in the Nashville area from the same time last year (which beats last year’s gains over the same period). Mining, logging and construction showed the biggest increase, jumping up an impressive 11.9% from the same time last year.
- On the pay front, average hourly wages for Nashville area employees rose to $21.13 (up from $20.63 this time last year), but still remain below the national average ($22.71).
On the whole, our economy continues on an upward trend – and the Nashville area is picking up even more steam than the country as a whole. For comprehensive Nashville employment and economic information statistics, follow these links:
How can you thrive in the 2015 Nashville economy?
Contact Wood Personnel, and one of our experienced staffing professionals will show you how our services can help you make the most of our current economy. Our Middle TN staffing services will keep your workforce flexible, while allowing you to capitalize on new business opportunities.