Unemployment In Tennessee Hits All Time LOW

(NASHVILLE)  Tennessee marked a milestone in March when statewide unemployment dropped to its lowest charge in historical past. Knowledge from the Division of Labor and Workforce Growth (TDLWD) confirmed the seasonally adjusted unemployment charge decreased to three.2%, the bottom stage ever recorded.
 
The lower of 0.2 of a share level in March allowed the month to eclipse the earlier all-time low charge of three.3%, recorded in August 2019. The most recent charge is 1.7 share factors decrease than it was this time final yr.
 
Tennessee reached this historic low simply 23 months after it marked its all-time highest unemployment charge of 15.9% in April 2020, through the top of pandemic-related enterprise closures throughout the state.

Additionally, setting excessive marks in March have been Tennessee’s seasonally adjusted civilian workforce at 3,370,618 and the variety of Tennesseans employed, which got here in at 3,261,531.
 
Whole nonfarm employment elevated by 8,100 jobs between February and March. The training and well being providers sector created essentially the most jobs through the month. The skilled and enterprise providers and the leisure and hospitality sectors have been accountable for the subsequent highest good points in employment.
 
Tennessee employers added 124,800 jobs over the past yr. The most important will increase occurred within the leisure and hospitality sector, adopted by the commerce, transportation, and utilities sector, after which the skilled and enterprise providers sector.

Nationally, unemployment additionally dropped in March. The seasonally adjusted charge for the USA decreased by 0.2 of a share level to three.6%. The speed is down 2.4 share factors in a year-to-year comparability.
 
TDLWD has produced an entire evaluation of the March 2022 seasonally adjusted unemployment knowledge. That report is obtainable right here.
 
Whereas the state’s unemployment charge is at a historic low, there are nonetheless Tennesseans looking for significant employment. Employers have tens of 1000’s of jobs they should discover the fitting individual to fill. TDLWD has the assets accessible to match job seekers with firms which are hiring. The journey to raised employment begins at www.TNWorkReady.com.

Unemployment knowledge on a county by county foundation can be launched by the state subsequent week.