Unemployment rate holds steady in Tennessee at 3.3 percent


Unemployment rate holds steady in Tennessee at 3.3 percent

ABOVE: The thicker line represents the unemployment rate in Tennessee.

 

TENNESSEE DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT

Tennessee Gov. Bill Lee and Department of Labor and Workforce Development Commissioner Jeff McCord announced Thursday a preliminarily statewide unemployment rate of 3.3 percent for January 2019.

The seasonally adjusted rate for January mirrors the December 2018 unemployment rate of 3.3 percent, which was revised down 0.3 of a percentage point from the month’s preliminary rate of 3.6 percent.

Tennessee has now had a statewide unemployment rate of 3.3 percent for the past four consecutive months.

“Tennessee continues to experience a strong economy with record low unemployment,” Lee said. “It is our goal to build on this foundation with several initiatives outlined in this week’s State of the State Address, including the GIVE Act which will help produce a highly-skilled, high-demand workforce in Tennessee.”

Total nonfarm employment in Tennessee increased by 8,300 jobs from December to January. The largest increases occurred in accommodation/food services, administrative/support/waste services and arts/entertainment/recreation. During the past year, nonfarm employment across the state grew by 61,200 jobs.

“We continue to see low unemployment levels in our State,” McCord said. “Job creators are investing, and we are continuing our efforts to ensure they have the qualified workforce necessary for their businesses to succeed.”

Nationally, January’s seasonally adjusted unemployment rate is 4.0 percent, up 0.1 of a percentage point from December.

The statewide and national unemployment rates are seasonally adjusted to eliminate the influences of weather, holidays, the opening and closing of schools, and other recurring seasonal events from an economic time series.

Tennesseans interested in new employment opportunities can find the latest job openings, receive assistance updating their resumes, and sharpen their job interview skills by visiting the state’s workforce development website.

A complete analysis of Tennessee’s unemployment data for January 2019 can be found here.

The state of Tennessee will release county unemployment data for January 2019 next week.

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *