ECONOMIC DEVELOPMENT – Taxpayer Justice

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.

COUNTY	PILOT Contracts	Total Wage Growth	Avg Wage Growth	Employ Growth	Estabs Per 1K
1	DAVIDSON	45	113.0	61.5	31.9	48
2	HAMILTON	33	89.7	56.1	21.5	35
3	KNOX	51	86.3	56.2	19.2	33
4	SHELBY	508	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)

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)

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:

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

Year over Year (YOY) Employment Growth (Q3 2023 to Q3 2024)

Memphis Shelby is 8,006 jobs off Year over Year (YOY) when compared to itself. And based on percentage growth, 8,006 off the national peer average, which is flat and 10,450 jobs off the TN peer average which is up .5% YOY. Memphis-Shelby, down 1.6% YOY, ranks last in percentage job growth when compared to 12 other peers, at -1.6%.

CITY	COUNTY	ST	23-SEP	23-OCT	23-NOV	23-DEC	24-JAB	24-FEB	24-MAR	24-APR	24-MAY	24-JUN	24JUL	24-AUG	24-SEP	CHG
1	Knoxville	Knox	TN	259,076	259,925	263,004	262,833	254,881	258,246	258,938	260,830	261,177	258,391	258,416	260,586	263,459	1.7
2	Chattanooga	Hamilton	TN	219,401	218,875	220,773	222,054	217,363	219,133	219,592	221,315	221,784	221,984	221,415	222,030	222,312	1.3
3	Oklahoma City	Oklahoma	OK	491,184	492,534	495,029	495,455	486,652	490,099	492,350	495,821	495,939	495,002	491,751	495,040	496,711	1.1
4	Kansas City	Jackson	MO	373,477	376,678	376,004	375,689	367,721	370,201	372,925	377,364	377,452	379,686	372,172	373,717	377,674	1.1
5	Louisville	Jefferson	KY	481,468	480,922	484,507	486,855	476,769	478,532	480,832	482,099	486,150	487,061	476,045	485,006	484,729	0.7
6	Nashville	Davidson	TN	555,521	554,028	559,738	557,603	543,605	548,910	552,933	553,323	555,502	559,335	554,722	558,497	557,870	0.4
7	Indianapolis	Marion	IN	626,735	625,451	629,248	627,198	613,291	619,954	619,425	623,047	628,487	626,135	624,189	630,044	627,709	0.2
8	Milwaukee	Milwaukee	WI	469,931	469,904	471,243	471,129	461,776	463,166	465,276	468,795	470,894	471,044	464,021	471,499	470,280	0.1
9	Birmingham	Jefferson	AL	363,611	364,849	367,268	367,462	363,535	366,183	365,061	367,179	369,387	369,563	366,895	366,065	363,765	0.0
10	St. Louis County	St. Louis	MO	599,025	602,185	603,379	603,556	589,973	592,250	592,742	598,021	602,317	601,968	590,909	596,989	595,897	-0.5
11	New Orleans	Orleans	LA	186,077	187,927	190,573	190,873	185,940	186,967	187,521	189,425	190,565	184,025	181,301	183,813	184,302	-1.0
12	St. Louis City	St. Louis	MO	224,156	225,729	224,543	223,333	218,396	221,065	220,256	224,734	221,957	220,267	218,861	220,190	221,870	-1.0
13	Memphis	Shelby	TN	488,814	488,174	492,383	493,225	480,967	484,265	484,068	483,689	483,733	481,008	478,780	482,343	480,808	-1.6

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

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

(Table in Thousands)

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

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

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

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Year over Year (YOY) Employment Growth (Q3 2023 to Q3 2024)

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