18,500 jobs added in Memphis area The greater Memphis area saw 18,500 jobs added in 2021, bringing the market to 653,800 total jobs, according to the St. Louis Federal Reserve. The region is now 1,000 jobs below the total jobs level available before the pandemic hit.
How is the job market in Memphis?
Memphis has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%. – The Sales Tax Rate for Memphis is 9.3%. The US average is 7.3%.
How many people are unemployed in Memphis?
Memphis, TN Unemployment Rate is at 5.10%, compared to 5.60% last month and 9.00% last year. This is lower than the long term average of 315.4%.
Basic Info.
| Report | Metropolitan Area Employment and Unemployment |
|---|---|
| Categories | Employment , Hours and Wages |
Who is the largest employer in Memphis?
Best Companies In Memphis, TN
| Rank | Company | Zippia Score |
|---|---|---|
| 1 | FedEx | 4.6 |
| 2 | AutoZone | 4.8 |
| 3 | International Paper | 4.8 |
| 4 | Perkins Restaurant & Bakery | 4.0 |
What is the biggest industry in Memphis?
The top industries present in Memphis include:
- Transportation and Warehousing: This industry employs over 40,000 people in the Memphis area.
- Health Care & Social Assistance: Prominent medical care and services within the industry present in Memphis lead to the employment of 39,000 people in the city.
Is Memphis TN growing?
The state grew by 8.9% — exceeding the 7.4% national rate — and increased to 6.9 million residents in 2020 from 6.3 million reported in 2010.
What is a good salary in Memphis?
A good salary in Memphis, TN is anything over $39,000. That’s because the median income in Memphis is $39,000, which means if you earn more than that you’re earning more than 50% of the people living in Memphis. The average salary in Memphis is $47,593. A good hourly wage in Memphis is $18.75 per hour.
What is the poverty rate in Memphis TN?
Who are the Memphis Poor? The city of Memphis has a poverty rate of 24.6%. Child poverty is 39.6%, while the poverty rate for people over age 60 is the lowest of any age group at 15.3%.
What is the unemployment rate nationwide?
5.3% 4.5%
State unemployment rates, by race/ethnicity and overall, 2022Q1
| State | All | White |
|---|---|---|
| California | 5.3% | 4.5% |
| Colorado | 4.0% | 3.2% |
| Connecticut | 4.9% | 4.1% |
| Delaware | 4.6% | 3.4% |
Does Tennessee have unemployment benefits?
Unemployment Insurance (UI) is a benefit program funded by Tennessee employers for workers who have lost their job by no fault of their own. Eligible claims may receive up to $275 per week in benefit payments. Qualified applicants are only eligible for a maximum of 26 weeks of unemployment insurance in a year.
How many FedEx employees are in Memphis?
approximately 30,000 people
FedEx employs approximately 30,000 people in Memphis, with employment opportunities spanning operations, marketing, inventory control, package handling, data science, project management and more.
What industries are in Memphis?
Industries by Neighborhood in Memphis
- Agriculture.
- Oil & Gas, and Mining.
- Construction.
- Manufacturing.
- Wholesalers.
- Retail.
- Transportation.
- Utilities.
What companies are in Memphis?
Snapshot: Memphis-Based Public Companies
- AutoZone Inc. AutoZone Inc.
- EdR. EdR, formerly known as Education Realty Trust, is making some significant changes in its finance department.
- FedEx Corp. FedEx Corp.
- First Horizon National Corp. First Horizon National Corp.
- Fred’s Inc.
- GTx Inc.
- International Paper Co.
- MAA.
What is Memphis known for?
Known worldwide as the “Home of the Blues & Birthplace of Rock ‘n’ Roll – not to mention gospel, jazz, R&B, rap and soul. Close to 20 percent of the earliest inductees (24 of the 97) in the Rock ‘n’ Roll Hall of Fame have come from within a 100-mile radius of Memphis.
What is Memphis economy based on?
Over the years, the city has become less dependent on its manufacturing and transportation sectors and has diversified its economy especially in services. The Gross Domestic Product of the private sector good-producing industries have grown from $8,309 million to $11,459 million from 2003 to 2013.
What Fortune 500 companies are in Memphis?
Best Companies In Memphis, TN
| Rank | Company | Zippia Score |
|---|---|---|
| 1 | International Paper | 4.8 |
| 2 | AutoZone | 4.8 |
| 3 | FedEx | 4.6 |
| 4 | St. Jude Children’s Research Hospital | 4.3 |
Is Memphis in decline?
Since 1970, Memphis’ population has effectively stagnated, with the population rising from 623,988 to 652,717.
How black is Memphis?
Memphis Demographics
Black or African American: 64.11% White: 29.23% Other race: 3.28% Asian: 1.72%
Is Memphis the poorest city in America?
In 2019, Memphis continued in second place in both overall poverty and child poverty among large Metropolitan Statistical Areas (MSA) with populations greater than 1,000,000 and in child poverty among large cities with populations greater than 500,000.
What salary do you need to live in Memphis TN?
The median income in Memphis is $41,864. However, it’s advisable to spend no more than 30% of your take home pay on rent. If you rent a one bedroom apartment in Memphis for $1,001, you need a salary of $40,040 to live comfortably. For a two bedroom apartment that costs $1,167, you’ll need a salary of at least $46,680.
Is it expensive to live in Memphis TN?
– Median Home Cost is 135% more expensive in United States.
Comparison Highlights.
| Cost of Living Indexes | Memphis, TN | United States, US |
|---|---|---|
| Overall Index: Homeowner, No Child care, Taxes Not Considered | 77.5 | 100 |
| Food & Groceries | 93.3 | 100.0 |
| Housing (Homeowner) | 37.1 | 100 |
| Median Home Cost | $123,800 | $291,700 |
