The State of Tennessee Income Charts

This section shows the economic outlook and local economy using the most recent economic data from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker. Tennessee shows it has $41,249 median earnings which is the 3d most of all other states in the area. The state with the highest median earnings in the group is Kentucky with an earnings of $41,808 is only slightly larger.

In Figure 2 we see a more complete view of income which includes all members in a household using the median household income and it has $50,972 median income which is more than all other statesin the area.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has 39.1 average hours which is the 2nd most of all the states in the area. The state with the highest average hours in the group is Mississippi with an average hours of 39.4 is about the same size. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has $20.29 average hourly earnings which is the 3d most of all other states in the area. The state with the highest average hourly earnings in the group is Kentucky with an average hourly earnings of $20.67 is only slightly larger.

Figure 7 examines the number of self employed people in the area based on the number of people who reported any self employment income. Tennessee shows it has 10.8% Self Employed which is the highest of all statesin the area.

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of Median Income for those under 25 years of age at $29,429 of the total and is ranked #1. Second, it has Median Income-25 to 44 years the 2nd most of all the states in the area at $55,707 of the total and is ranked 3d last in the group. Also, it has the largest proportion of Median Income-45 to 64 years at $59,578 of the total and is ranked #1. In addition, it has the largest proportion of Median Income-65 years and over at $39,089 of the total and is ranked #1.

In terms of the source of where income comes from, in Figure 9 Tennessee has the largest proportion of self employment income at 5.7% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has 19.2% households with retirement income which is in the intermediate range of other states in the area. The state with the highest households with retirement income in the group is Alabama with a households with retirement income of 21.5% is 12.1% larger.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of Overall Family Income at $63,096 of the total and is ranked #1. Second, it has the largest proportion of Black Family Income at $44,495 of the total and is ranked #1. Also, it has American Indian Family Income the 2nd most of all the states in the area at $52,419 of the total and is ranked 3d last in the group. In addition, it has the largest proportion of Asian Family Income at $83,722 of the total and is ranked #1.

Figure 13 shows the cost of living for a variety of cost components from the Bureau of Labor Statistics. Tennessee shows it has hightest cost of 96.2 for cost of miscellaneous items.

The State of Tennessee Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. It depicts that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly unemployment rate went from 10.8% to 3.8% in February 2020. This represents a decrease in the monthly unemployment rate of 64.8%. Since that time, the monthly unemployment rate has gone to 8.6% This represents an increase in the monthly unemployment rate of 126.3%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. It shows that from February 2010 to before the Wuhan Coronavirus/COVID Pandemic the monthly labor force participation went from 3,050,910 to 3,352,940 in February 2020. This represents an increase in the monthly labor force participation of 9.9%. Since that time, the monthly labor force participation has gone to 3,381,880 This represents an increase in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate and is based on the American Community survey. Figure 16 shows Tennessee shows it has 3.6% unemployment rate which is in the mid point of other states in the area. The state with the highest unemployment rate in the group is Mississippi with a rate of 4.7% measures 30.1% larger. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of indicates it has 61.2% participation rate which is the highest of all statesin the area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Tennessee shows full time employees is approximately 3.6 times bigger than part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner. Tennessee illustrates it has 29.9% families with a single earner which is the 3d most of all other states in the area. The state with the highest families with a single earner in the group is Alabama with a single earners rate of 31.2% measures only about 4.3% larger. The percentage of families with no one working is depicted in Figure 22. Tennessee shows it has 18.1% families with no one working which is in the middle of other states in the area. The state with the highest families with no one working in the group is Alabama with a families with no worker of 20.0% is 10.3% larger.

The State of Tennessee Poverty Charts

The next section details information about poverty in the area. In Figure 23 the total number of people earning less than the poverty level are shown. Tennessee shows it has 1,046,510 total people earning less than the poverty level which is more than all other statesin the area.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Tennessee shows it has 16.1% percent of people earning less than the poverty level which is in the center of other states in the area. The state with the highest percent of people earning less than the poverty level in the group is Mississippi with a percent of people in poverty of 20.8% is 28.7% larger.



The next chart, Figure 26, shows the percentage of people in poverty by racial group. Tennessee has the largest proportion of Hawaiian poverty rate at 34% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. We see that Tennessee has the largest proportion of people who are in poverty and employed at 17.9% of the total and is ranked #1. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) We can see that the state of shows it has 15.2% households with public assistance which is the 3d most of all other states in the area. The state with the highest households with public assistance in the group is Mississippi with a households with public assistance of 16.9% is 10.9% larger.

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of shows it has 48.0% the Gini Index which is the largest of all statesin the area.

The State of Tennessee Work Commute Charts

The average commute time is shown in Figure 37. the state of shows it has 25 average commute time which is the highest of all statesin the area.

Figure 38 shows the difference between male versus female commuting time and Tennessee shows average commute time in minutes for men measures 23.4% larger than average commute time in minutes for women. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of shows it has 57% people who both work and live in the same city which is ranked #1 of all statesin the area.

The State of Tennessee Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of shows it has hightest median earnings of $74,815 for Management, business, and financial occupations. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of shows it has hightest median earnings of $58,598 for Earnings-Computer, engineering, and science occupations.

The State of Tennessee Self Employment Charts

Figure 49 shows the number of people who are self employed in incorporated businesses by industry. the state of shows it has hightest entrepreneurs of 50% for self employed management, business, science, and arts businesses.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories. the state of shows it has hightest entrepreneurs of 20% for self employed in professional, scientific, management, administrative services.

In Figure 51 the average annual self employment income is shown. the state of shows it has $37,481 average annual self employment income which is ranked #1 of all statesin the area.

Figure 52 shows the difference between the number of self employed men and self employed women. Tennessee shows total number of self-employed men is about twice as large than total number of self-employed women.