Tennessee’s jobless rate hit seven-year low in March
NASHVILLE, Tenn. – In March, Tennessee’s jobless rate reached its lowest level since the spring of 2008.
Tennessee Labor & Workforce Development Commissioner Burns Phillips announced recently the Tennessee preliminary unemployment rate for March was 6.3 percent, three-tenths of 1 percentage point lower than the February revised rate of 6.6 percent. The U.S. preliminary rate for March was 5.5 percent, unchanged from the prior month.
Over the past year, Tennessee’s unemployment rate declined from 6.4 percent to 6.3 percent while the national rate declined from 6.6 percent to 5.5 percent.
Total nonfarm employment in Tennessee decreased 4,400 jobs from February to March. The largest decreases occurred in accommodation/food services, trade/transportation/utilities, and mining/logging/construction.
Over the year, nonfarm employment increased 49,300 jobs. The largest increases occurred in trade/transportation/utilities, professional/business services, and education/health services.