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Local Economic Indicators

Real-time economic data and analysis for West Tennessee and the broader regional economy. This dashboard provides key metrics to understand local economic trends, agricultural market conditions, and business climate indicators.

Data Sources & Methodology

  • Employment data from Tennessee Department of Labor & Workforce Development
  • Agricultural statistics from USDA-NASS and Tennessee Department of Agriculture
  • Business indicators from U.S. Census Bureau and local economic development agencies
  • Housing market data from Tennessee Realtors Association
  • Educational metrics from Tennessee Department of Education
Unemployment Rate
📊
3.2%
↓ 0.3% vs. last month
West Tennessee | July 2025
State Average: 3.5%
Corn Prices
🌽
$4.85
↑ $0.23 vs. last month
Per bushel | August 2025
National Average: $4.72
Business Formation Rate
🏢
2.8
↑ 0.4 vs. last quarter
Per 1,000 residents | Q2 2025
State Average: 2.3
Housing Prices
🏠
$185K
↑ 5.2% vs. last year
Median sale price | July 2025
State Average: $295K
Farm Income
🚜
$285
↑ $32 vs. last year
Per acre annually | 2024
5-year average: $251
Cost of Living Index
💰
89.2
↑ 2.1% vs. last year
Base: US Avg = 100 | July 2025
Below national average
Economic Trends Over Time
📈 Interactive chart visualization would appear here
Data visualization showing unemployment trends for West Tennessee over the past 12 months

Detailed Economic Data

Indicator Current Value Previous Period Change 12-Month Trend Last Updated
Unemployment Rate (%) 3.2 3.5 -0.3 Declining July 2025
Corn Price ($/bushel) $4.85 $4.62 +$0.23 Rising Aug 2025
Soybean Price ($/bushel) $11.75 $11.20 +$0.55 Rising Aug 2025
New Business Registrations 127 118 +9 Growing Q2 2025
Building Permits 43 38 +5 Stable July 2025
Median Home Price $185,000 $182,500 +$2,500 Rising July 2025
Population Growth (%) 0.8 0.6 +0.2 Growing 2024 Est.

Analysis & Insights

Economic Outlook: West Tennessee's economy shows mixed but generally positive signals. The declining unemployment rate indicates a strengthening job market, while rising agricultural commodity prices benefit the region's significant farming sector.

Key Trends: Business formation rates above state averages suggest entrepreneurial activity, and moderate housing price growth indicates sustainable market conditions. The region maintains a cost-of-living advantage compared to state and national averages.

Agricultural Impact: Rising corn and soybean prices provide positive income effects for the region's agricultural economy, supporting rural communities and related businesses.