Memphis Area Economic Summary
Updated May 31, 2017
This summary presents a sampling of economic information for the area; supplemental data are provided for regions
and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are
not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area
summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Unemployment rates for the Memphis area,
selected area counties, and the nation
Average weekly wages for all industries by county
Memphis area, 3rd quarter 2016
(U.S. = $1,027; Area = $975)
Unemployment rates
4.7
United States
4.1
4.7
Memphis area
4.2
4.1
Crittenden Co.,
AR
3.7
3.8
DeSoto Co., MS
3.2
4.8
Shelby Co., TN
4.4
5.3
Tipton Co., TN
0.0
4.4
2.0
4.0
Apr-16
6.0
Apr-17
Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
Percent
Memphis area employment
(numbers in thousands)
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Apr-14
Memphis area
Apr-15
United States
Apr-16
Source: U.S. BLS, Current Employment Statistics.
Apr-17
Total nonfarm
Mining, logging, and construction
Manufacturing
Trade, transportation, and utilities
Information
Financial activities
Professional and business services
Education and health services
Leisure and hospitality
Other services
Government
Change from Apr.
Apr. 2017
2016 to Apr. 2017
Number
Percent
9.2
2.7
0.4
7.2
0.0
-0.2
-1.9
1.3
0.6
0.1
-1.0
1.4
12.6
0.9
4.2
0.0
-0.7
-2.0
1.4
0.9
0.4
-1.2
646.8
24.2
46.5
179.5
5.7
27.6
95.1
93.9
68.0
25.1
81.2
Source: U.S. BLS, Current Employment Statistics.
• www.bls.gov/ro6
Over-the-year changes in the selling prices received by
producers for selected industries nationwide
Over-the-year change in the prices paid by urban
consumers for selected categories
12-month percent change in CPI-U, April 2017
12.0
South region
U.S. city average
10.0
10.1
Percent
8.0
6.0
9.3
8.0
4.0
6.0
2.0
0.0
4.0
2.0
0.0
12-month percent changes in PPI
2.0
2.2
-2.0
0.2
All Items
0.5
Food
General freight trucking
Hospitals
Couriers and express delivery services
-4.0
Energy
-6.0
Apr-14
Source: U.S. BLS, Consumer Price Index.
Average annual spending and percent distribution for
selected categories
South Region average annual expenditures 2015
Apr-15
Healthcare
$4,264
8.2%
Personal
insurance &
pensions
$5,608
10.8%
Food
$6,613
12.7%
Transportation
$9,598
18.5%
Total:
$52,020
Source: U.S. BLS, Consumer Expenditure Survey.
Employer costs per hour worked for wages and
selected employee benefits by geographic division
Private industry, December
2016
Total compensation
Wages and salaries
Total benefits
Paid leave
Vacation
Supplemental pay
Insurance
Retirement and savings
Legally required benefits
East South
Central (1)
$25.40
18.00
7.40
1.66
0.85
0.68
2.23
0.87
1.96
(1) East South Central includes AL, KY, MS, and TN.
Source: U.S. BLS, Employer Costs for Employee Compensation.
Memphis
area
Total, all occupations
Housing
$16,518
31.8%
United
States
$32.76
22.83
9.93
2.28
1.17
1.15
2.63
1.31
2.56
Apr-17
Average hourly wages for selected occupations
Occupation
All other
$9,419
18.1%
Apr-16
Source: U.S. BLS, Producer Price Index.
United
States
$20.64
$23.86
Accountants and auditors
31.77
36.89
Registered nurses
30.86
34.70
Heavy and tractor-trailer truck drivers
20.87
20.96
Customer service representatives
17.05
16.91
Office clerks, general
15.77
15.87
Shipping, receiving, and traffic clerks
14.84
15.94
Construction laborers
Laborers and freight, stock, and
material movers, hand
13.36
18.22
13.26
13.81
Security guards
13.13
14.29
Retail salespersons
12.46
13.07
8.86
9.89
Cooks, fast food
Source: U.S. BLS, Occupational Employment Statistics, May 2016.
Over-the-year changes in wages and salaries
Percent
3.5
12-month percent changes in ECI
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Mar-14
East South Central
Mar-15
Source: U.S. BLS, Employment Cost Index.
Southeast Information Office • [email protected] • https://www.bls.gov/regions/southeast • 404-893-4222
United States
Mar-16
Mar-17