October 2, 2020 – To build an understanding of the current market trends that are impacting the Memphis Metro area, the Chamber has been releasing monthly updates to our economic recovery.
To best gauge and position insights related to market activity, we are looking at the region through two lenses. The first is through the lens of traditional monthly indicators. These measures include the lower frequency jobs and unemployment figures and are often seen as lagging indicators of labor market activity. The second lens is through higher frequency weekly indicators. These measures include weekly unemployment insurance claims and job postings. Often, the higher frequency indicators are seen as leading indicators and can signal worsening or better employment outcomes for the region against the monthly reports.
With the release of the August 2020 unemployment numbers on September 30, these updates will provide a key snapshot of where the Memphis market sits as it relates to a recovery from the March/April 2020 contraction.
[Read more…] about Monitoring Recovery | Indicators to Watch 10/2/2020