Unemployment rates moved higher in 44 out of 50 states last month. The Associated Press reports that is the highest number of states to show an increase in unemployment in more than three years. Analysts say the numbers reflect weak hiring activity across the United States.
Tennessee-based FedEx will offer buyouts to U.S. employees in an effort to cut costs in a troubled economy. Company officials indicate that the majority of those offered buyout packages will be staff employees at FedEx Express and FedEx Services. The Memphis-based company says it hasn't decided how many employees it needs to cut.
A report released by State Budget Director Mary Lassiter reveals that receipts from both the state's sales and income taxes declined in July. Lassiter says she still expects the state to meet projections of modest revenue growth over the remainder of the new fiscal year, despite declines in general fund revenue for three of the past four months.
Tennessee is launching a toll-free hotline for homeowners who are either in—or on the brink of—foreclosure. The Tennessean reports the hotline is open from 8 a.m. to 5 p.m. central time, Mondays through Fridays.