ECONOMIC DEVELOPMENT

Year over Year (YOY) Employment Growth (Q2 2023 to Q2 2024)

The following chart shows YOY employment growth for Shelby County and averages for 10 national counties and 4 TN municipal counties. The raw employment data, sourced from BLS QCEW, resides in the table below the chart:

wdt_ID CITY COUNTY ST 23-JUN 23-JUL 23-AUG 23-SEP 23-OCT 23-NOV 23-DEC 24-JAN 24-FEB 24-MAR 24-APR 24-MAY 24-JUN CHG
1 Oklahoma City Oklahoma OK 487,167 484,190 486,941 491,184 492,534 495,029 495,455 486,652 490,099 492,350 495,821 495,939 495,002 1.6
2 Birmingham Jefferson AL 364,040 364,235 363,989 363,611 364,849 367,268 367,462 363,535 366,183 365,061 367,179 369,387 369,563 1.5
3 Nashville Davidson TN 550,997 550,516 552,052 555,521 554,028 559,738 557,603 543,605 548,910 552,933 553,323 555,502 559,335 1.5
4 Kansas City Jackson MO 376,276 369,292 370,271 373,477 376,678 376,004 375,689 367,721 370,201 372,925 377,364 377,452 379,686 0.9
5 Louisville Jefferson KY 483,020 471,866 480,759 481,468 480,922 484,507 486,855 476,769 478,532 480,832 482,099 486,150 487,061 0.8
6 Indianapolis Marion IN 624,244 620,665 628,344 626,735 625,451 629,248 627,198 613,291 619,954 619,425 623,047 628,487 626,135 0.3
7 Milwaukee Milwaukee WI 472,153 461,273 469,166 469,931 469,904 471,243 471,129 461,776 463,166 465,276 468,795 470,894 471,044 -0.2
8 St. Louis County St. Louis MO 604,329 592,795 598,036 599,025 602,185 603,379 603,556 589,973 592,250 592,742 598,021 602,317 601,968 -0.4
9 New Orleans Orleans LA 185,513 182,801 186,508 186,077 187,927 190,573 190,873 185,940 186,967 187,521 189,425 190,565 184,025 -0.8
10 St. Louis City St. Louis MO 222,479 222,355 223,292 224,156 225,729 224,543 223,333 218,396 221,065 220,256 224,734 221,957 220,267 -1.0
11 Memphis Shelby TN 485,861 484,328 487,731 488,814 488,174 492,383 493,225 480,967 484,265 484,068 483,689 483,733 481,008 -1.0

Shelby-TN and National Peer Summary (2010-23)

The below data is calculated from the 2023 Tennessee Comptroller PILOT report and United States Department of Labor Bureau of Labor and Statistics (BLS) Quarterly Census of Employment and Wages (QCEW) program. The 2010 base year was selected, since the Memphis and Shelby County Growth Engine (EDGE) was created in 2011.

Shelby County was the only County of its national or state peers to show contracting employment in 2023. Shelby County employment dropped 1.4% in 2023 from 493,623 in 2022 to 486,691 in 2023. The Following Shelby-TN and national summary includes QCEW components in total wage, employment and average wage growth. Total wage growth is derived from employment and average wage growth.

wdt_ID COUNTY PILOT Contracts Total Wage Growth Avg Wage Growth Employ Growth Estabs Per 1K
1 DAVIDSON 42 113.0 61.5 31.9 48
2 HAMILTON 35 89.7 56.1 21.5 35
3 KNOX 51 86.3 56.2 19.2 33
4 SHELBY 528 53.2 46.4 4.7 27
5 Peer 10 Avg 65.4 48.1 11.5 40
Shelby-TN Peer and National Peer Average Percentage Total Wage Growth (2010-23)
(Table in Thousands)

wdt_ID CITY COUNTY ST 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
1 Birmingham Jefferson AL 15,485,002 15,860,926 16,657,307 16,758,295 17,233,861 17,682,720 17,904,952 18,700,249 19,684,546 20,343,787 20,463,910 21,952,903 23,671,449 25,115,357
2 Indianapolis Marion IN 26,004,956 26,939,631 28,206,197 28,889,186 29,546,311 30,684,161 31,806,984 33,166,539 34,440,327 35,944,143 36,309,700 38,949,536 42,766,021 44,777,433
3 Louisville Jefferson KY 18,337,326 19,114,145 20,196,556 20,584,930 21,631,313 23,131,464 24,006,258 24,909,800 25,721,469 26,878,914 26,953,616 28,971,365 31,202,567 33,102,539
4 New Orleans Orleans LA 8,483,847 8,693,064 8,675,671 8,805,149 9,316,421 9,639,828 9,692,035 9,891,002 10,301,035 10,771,980 10,378,202 10,905,478 11,795,592 12,195,980
5 Kansas City Jackson MO 15,874,670 16,240,490 17,308,471 17,421,608 17,829,917 18,909,703 19,401,507 20,137,730 20,959,095 21,742,472 22,010,068 23,371,297 24,438,666 25,739,433
6 St. Louis St. Louis MO 11,037,358 11,528,456 11,768,292 11,928,264 12,324,750 12,865,105 12,904,123 13,156,127 13,906,555 14,427,131 14,200,871 14,989,349 16,169,300 17,060,064
7 St. Louis County St. Louis MO 27,701,813 28,410,233 29,740,394 30,125,160 31,539,888 32,804,800 33,508,608 34,830,077 36,845,671 37,562,800 37,614,648 39,479,250 42,017,183 44,225,344
8 Oklahoma City Oklahoma OK 17,600,806 18,927,391 19,957,159 20,857,941 21,818,184 22,571,234 22,162,245 23,026,270 24,107,673 25,113,633 25,000,036 26,317,328 28,579,765 30,714,965
9 Milwaukee Milwaukee WI 21,544,163 22,337,883 22,616,237 22,892,965 23,628,548 24,448,414 24,900,962 25,448,066 26,322,650 26,866,221 26,699,356 28,240,141 29,952,572 30,955,954
10 Nashville Davidson TN 20,097,578 20,748,691 22,376,664 22,517,563 23,881,313 25,510,537 26,498,825 28,056,657 30,085,986 31,864,084 32,051,223 36,214,723 40,681,623 42,815,637
11 Memphis Shelby TN 22,258,167 22,661,470 23,840,112 23,974,854 24,636,350 25,434,973 26,166,453 26,976,317 28,102,743 28,872,059 29,509,873 32,117,130 33,142,975 34,096,013
12 Chattanooga Hamilton TN 7,428,757 7,701,424 8,030,813 8,183,678 8,505,224 9,114,906 9,368,208 9,870,911 10,258,649 10,705,874 11,007,604 11,885,801 13,167,261 14,093,872
13 Knoxville Knox TN 8,574,736 8,927,133 9,249,734 9,439,725 9,923,504 10,514,543 10,944,227 11,318,562 11,881,591 11,995,288 12,469,685 13,739,499 15,028,563 15,970,991

Shelby-TN Peer and National Peer Average Percentage Employment Growth (2010-23)

Shelby-TN Peer and National Peer Average Wage Percentage Growth (2010-23)