Van Buren unemployment rate decreases according to report
by Bobby Lee McCulley | April 12, 2018 7:36 am
Tennessee Department of Labor and Workforce Development recently released the February 2018 unemployment rates for all Tennessee counties, which reported that Van Buren County’s unemployment rate dropped by 0.5 percent.
According to the latest statistics, the month of February showed improvements in unemployment rates for the majority of the state’s counties.
Sixty-nine of Tennessee’s 95 counties saw their unemployment rates lower than compared to their January 2018 rates. The rates, however, remained the same in 21 counties and increased in five counties.
For Van Buren County, the February unemployment rate has been recorded by the state at 4.2 percent, which reflects a 0.5 percent reduction in the rate from January. Overall, Van Buren County’s unemployment rate decreased by nearly 1.5 percent from this time last year.
White County registered the lowest unemployment rate within the neighboring region, with a rate of 3.7 percent, which is 0.5 percent lower than Van Buren County. The county within the region with the highest unemployment rate was Bledsoe County at 6.0 percent – one of highest in the state.
Additionally, neighboring Warren County recorded their unemployment rate at 3.9 percent for February. Likewise, Sequatchie County saw its unemployment rate decrease slightly to 4.5 percent for the month.
“It is great to see unemployment rates decrease in so many counties during February,” stated Burns Phillips, Tennessee Department of Labor and Workforce Development commissioner. “While this type of rebound, in February, is typical after the state usually experiences a slight uptick in unemployment after the holidays, it is not a given.”
Williamson County continues to have the state’s lowest unemployment rate. The February rate for Williamson County was recorded at 2.4 percent, which is a decrease of 0.1 percent from the previous month. At 2.6 percent, Davidson County recorded the state’s second lowest unemployment rate, in February, which was also 0.1 percent lower than January’s rate as well.
According to latest figures, Houston County had the state’s highest unemployment rate, in February, at 6.8 percent, which is the same rate the county had in January. Cocke County recorded the second highest rate, in February, at 6.4 percent.
Tennessee’s statewide seasonally adjusted unemployment rate for February 2018 was recorded at 3.4 percent, a 0.1 of a percentage point increase from the state’s January rate of 3.3 percent. The national unemployment rate for the month held steady at 4.1 percent.
The statewide unemployment rate is seasonally adjusted, while county rates are not. Seasonal adjustment is a statistical technique that eliminates the influences of weather, holidays, the opening and closing of schools, and other recurring seasonal events from an economic time series.