Tennessee unemployment rate up slightly after hitting all-time low

From TN.gov: After three consecutive months of record-low unemployment, the statewide unemployment rate increased slightly last month, according to data from the Tennessee Department of Labor and Workforce Development (TDLWD).

The state’s seasonally adjusted unemployment rate was 3.1% in August, an increase of one-tenth of a percentage point over the record low of 3% posted in May, June, and July.
In a year-to-year comparison, Tennessee’s unemployment rate decreased two-tenths of a percentage point, from 3.3% to 3.1%.

Between July and August 2024, total nonfarm employment across the state decreased by 1,400 jobs. The largest decrease was in the mining, logging, and construction sector, followed by the trade, transportation, and utilities sector and the leisure and hospitality sector.

Over the past year, Tennessee employers added 30,500 nonfarm jobs, with the largest increase in the education and health services sector, followed by the trade, transportation, and utilities sector, and other services.

Despite the increase in the unemployment rate over the last month, Tennessee’s rate is still well below the national rate of 4.2%. The U.S. rate decreased one-tenth of a percentage point, from 4.3% in July. The rate is four-tenths of a percentage point higher than it was in August 2023.

Whether you’re a recent college graduate looking for a job or a seasoned employee wanting a career change, American Job Centers (AJCs) are available to help meet your employment needs. AJCs provide free access to computers, and job seekers can attend on-site recruiting events and workshops on resume writing and interview skills. All Tennessee counties are served by an AJC with qualified staff.

The state of Tennessee will release the unemployment data for all 95 counties on Thursday, September 26, 2024, at 1:30 p.m. CDT.