MEMPHIS, Tenn. (AP) - A Federal Reserve report shows economic conditions in the housing sector in the Memphis area are healthy, but the employment market can do better.
The Federal Reserve in St. Louis released its quarterly Burgundy Books report Thursday. The books look at economic conditions St. Louis, Little Rock, Louisville and Memphis.
The Memphis zone includes northern Mississippi, eastern Arkansas, and western Tennessee, with a population of about 3.1 million people
The zone’s unemployment rate averaged 9.6 percent, essentially unchanged from the previous quarter and higher than the national average.
Employment growth in fourth quarter 2013 outpaced the nation in the education and health, manufacturing, and financial activities industries. However, overall growth was weaker compared with fourth quarter 2012.
House prices and single-family building permits posted fourth quarter gains.
___
Memphis zone Burgundy Book: https://research.stlouisfed.org/regecon/burgundybooks/14/03/BB0314Mem.pdf
Please read our comment policy before commenting.