The Memphis region has fully regained all of the jobs lost during the COVID-19 pandemic, with employment reaching a record level of 661,400 in April.
As of March, the greater Memphis region had recouped around 70,000 jobs lost during the pandemic.
Continuing that trend will mean an emphasis on building a workforce for roles in supply chain and logistics, as well as complex manufacturing, among other areas of expansion.
Ted Townsend, Chief Economic Development Officer said: “When you consider the fact that not only did we make a complete recovery from the pandemic job loss, but we are now at a new record high of employment as of April numbers.
“I hope that that provides confidence for both business owners and individuals that are in the job market now or perhaps looking at opportunities to upskill themselves to be able to qualify for all of these high-quality jobs that we’re fighting to bring here to our market.”
2021 was a record year for economic development in the region, with 9,300 positions announced, with the majority of them expected to be filled during the following three to five years.
The gross regional output increased by 6.2 percent, or $4.4 billion, last year.
Memphis’ growth is equivalent to that of “major metropolitan areas of comparable size and composition.”
Birmingham, Louisville, and Oklahoma City are among the peer metro regions.
Memphis has the highest growth percentage relative to March 2020 of the four cities, at 1.05 percent.
Growth in the construction industry has contributed to local economic growth, and leisure and hospitality have already returned to roughly 2 percent below full recovery.
Source: Commercial Appeal