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Memphis is considered a Small Town with a population of 1,191 and 132 businesses. 0 in 2018 were added to the Memphis Chamber of Commerce business directory which was less than 2017 which had 4.

The economy of Memphis employs 805 people and has an unemployment rate of 11.9%. Some of the largest industries in Memphis are Professional Services (5),School Public (4), and Entertainment Agencies & Bureaus (4).

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