Labor
Number of Workers in Family
The Memphis, TN-AR-MS has an average of 1.5 workers per family. This market subsequently ranks 89th in the number of workers per family across the 167 STI Markets. It has a location quotient of 0.96 time the national average of 1.5.
Figure 31: Workers In Family
Labor Force
The Memphis, TN-AR-MS ranks 66th in labor force participation among the 167 STI Markets with 63% of those 16 plus in the labor force. Of those in the Labor force 0.37% are in the Armed Forces a value 0.49 times the national average resulting in an Armed Forces employment ranking of 71st across STI Markets.
In terms of overall employment size, the market ranks 104th with employment of 780,199.
Unemployment Rate of 4%
With an Unemployment Rate of 4% the Memphis, TN-AR-MS currently ranks 87th in Unemployment among the 167 STI Markets.
UER Inequality - High
The Memphis, TN-AR-MS can current be classified as having High level of variation across its Census Tracts. This classification is based on the Gini Coefficient of the market which is currently 0.43. Low (0 to .3), Moderate (.3 to .4), High (.4 to .6), Extreme (.6 to 1). The Gini Coefficient is often used to classify inequality. Across all STI Markets the Memphis, TN-AR-MS ranks 16th. The interquartile range of the markets Census Tracts, that is its 25th percentile and 75th percentile values, are 1.9% and 6.1%, respectively.
