(May 18, 2023) -The state of Tennessee experienced lower unemployment in April, according to newly released data from the Department of Labor and Workforce Development (TDLWD). It is the second consecutive month the statewide jobless rate has dropped.
The April 2023 seasonally adjusted rate came in at 3.3%, 0.1 of a percentage point lower than the previous month and 0.1 of a percentage point away from the state’s all-time lowest unemployment rate of 3.2%.
In a year-to-year comparison, the state’s new unemployment rate was unchanged from April 2022.
Tennessee employers added 2,000 new nonfarm jobs to the state’s workforce between March and April. The education and health services sector accounted for most of the new jobs during the month. The government sector and the manufacturing sector added the next largest number of jobs to the state’s economy.
Between April 2022 and April 2023, the number of new nonfarm jobs in Tennessee grew by 90,000 positions. The leisure and hospitality sector reported the largest amount of growth during the year. The education and health services sector had the next largest increase, followed by the government sector.
A complete analysis of Tennessee’s unemployment rate, along with other labor force participation rate information, is available here.
Nationally, the seasonally adjusted unemployment rate dropped from 3.5% in March to 3.4% in April.
As the school year nears an end, Tennessee employers have job openings ready and waiting for young people across the state. The Summer Youth Employment Program (SYEP) provides job opportunities to Tennesseans ages 14 through 24. They can work up to eight weeks and can earn as much as $16 per hour. Young people interested in participating in the program should visit TNWorkReady.com or their local American Job Center for more information.
The state of Tennessee will release the April 2023 county unemployment rates on Thursday, May 25, 2023, at 1:30 p.m. CDT.