State Unemployment Rate Drops

UnemploymentTennessee Labor & Workforce Development Commissioner Burns Phillips has announced the Tennessee preliminary unemployment rate for April is 6.3 percent, which is four tenths of one percentage point lower than the 6.7 percent March revised rate and equal to the national preliminary rate for April. The U.S. revised rate for March was also 6.7 percent.
Economic Summary:
• Over the past year, Tennessee’s unemployment rate decreased from 8.3 percent to 6.3 percent while the national rate decreased from 7.5 percent to 6.3 percent.
• The number of unemployed persons (192,000) is the lowest since May 2008 and is 11,700 lower than last month.
• Total nonfarm employment increased 2,400 jobs from March to April. The largest increases occurred in mining/logging/construction, leisure/hospitality, and durable goods manufacturing.
Over the year, nonfarm employment increased 48,000 jobs. The largest increases occurred in professional/business services, leisure/hospitality, and trade/transportation/utilities.