Tennessee jobless rate continues decline
NASHVILLE – The jobless rate fell in Tennessee in May to the lowest level in more than eight years as employers across the Volunteer State added 53,800 jobs over the past year.
According to the state report, unemployment remained above the U.S. average in Tennessee–but not by much and by a narrower amount than during the recent recession. Tennessee’s jobless rate fell by two-tenths of a percent to 5.8 percent. Nationwide, unemployment in May rose a tenth of a percent to 5.5 percent.
According to the employer survey, Tennessee employment grew by 1.9 percent in the past year, led by strong gains in trade and the leisure and hospitality industries.
Over the past year, Tennessee’s unemployment rate has declined from 6.5 percent to 5.8 percent while the national rate declined from 6.3 percent to 5.5 percent.