Tennessee unemployment rate holds steady at 3.5% – Washington Examiner
Tennessee’s unemployment rate remained steady at 3.5% in may, unchanged from April, according to state officials. This figure is a slight increase from 3.2% seen a year prior, while the national unemployment rate is reported at 4.2%. Over the past month,the state added 1,800 jobs,notably in sectors like leisure and hospitality,government,and education,though certain sectors like professional services and transportation experienced declines. Year-to-date, Tennessee has seen a growth of nearly 17,000 jobs. The state ranked sixth in the “States that Work” report for its labor market policies. Additionally, average weekly wages increased from $1,006.43 in April to $1,024.59 in May, although thay still lag behind the national average of $1,181.62.
Tennessee unemployment rate holds steady at 3.5%
(The Center Square) – Tennessee’s unemployment rate for May is 3.5%, the same as in April, state officials said.
The rate a year ago was 3.2%, according to a report from the Tennessee Department of Labor and Workforce Development. The national unemployment rate is 4.2%.
Between April and May, 1,800 jobs were added. Top performing sectors are leisure and hospitality, government and education and health care services. Professional and business services, financial activities, and the trade, transportation, and utilities had the biggest drop.
Nearly 17,000 jobs have been added this year.
The “States that Work” report from the American Legislative Exchange Council ranks Tennessee sixth among states based on their free labor market policies.
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One of the factors is the number of employees in the government sector. The state placed ninth with government making up 13.3% of the state’s workforce. The report is based on July 2024 numbers and may not reflect the recent growth in government jobs.
Tennessee’s average weekly wages increased $18.16 from $1,006.43 in April to $1,024.59 in May. The state’s average weekly wages remain below the national average of $1,181.62, up from $1,179.15 in April.
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