LOWEST RATE SINCE JUNE 2008
NASHVILLE – Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today the Tennessee preliminary unemployment rate for March is 6.7 percent, which is two tenths of one percentage point lower than the 6.9 percent February revised rate and equal to the national rate for March. The U.S. rate, at 6.7 percent, remains the same as it was in February.
Economic Summary:
- Over the past year, Tennessee’s unemployment rate decreased from 8.3% to 6.7% while the national rate declined from 7.5% to 6.7%.
- The number of unemployed persons (203,800) is the lowest since June 2008 and is 5,900 lower than last month.
- Total nonfarm employment increased 4,200 jobs from February to March. The largest increases occurred in mining/logging/construction, leisure/hospitality, & professional/business services.
- Over the year, nonfarm employment increased 46,100 jobs. The largest increases occurred in professional/business services, accommodation/food services, & trade/transportation/utilities.
