Unemployment across Tennessee holds steady in August
Posted By Kim Swindell Wood | September 25, 2019 7:32 am
Statewide unemployment for Tennessee held steady in August.
The latest statistics, which were released Sept. 19 by the Tennessee Department of Labor and Workforce Development, show the new seasonally adjusted rate of 3.5 percent mirrors the state’s revised rate from July 2019.
Tennessee also recorded an unemployment rate of 3 percent to 5 percent during this same time in 2018.
“For more than two years Tennessee’s unemployment has been at, or very close to, historic low levels,” said TDLWD Commissioner Jeff McCord. “We have seen little fluctuation since June of 2017, and that’s one sign the business community has continued confidence in the state’s economy.”
Tennessee reached an all-time low for unemployment earlier this year. For three consecutive months starting in February, the state had a seasonally adjusted rate of 3.2 percent.
Employers across Tennessee added 900 new nonfarm jobs to their payrolls between July and August. The most significant increases occurred in the health care/social assistance sector, followed by administrative/support/waste services, and local government.
Over the last year, nonfarm employment increased by 45,900 jobs across the state. The sectors that experienced the largest gains were leisure/hospitality, professional/business services, and manufacturing.
Across the nation, unemployment dropped in August. The new national unemployment rate of 3.7 percent is 0.2 of a percentage point lower than the previous month’s rate.
The state of Tennessee will release August 2019 unemployment data for all 95 counties Thursday, Sept. 26, 2019, at 1:30 p.m. CT.