Tennessee Labor & Workforce Development Commissioner Burns Phillips announced last week the Tennessee preliminary unemployment rate for October was 4.8 percent, up two-tenths of a percentage point from the September revised rate of 4.6 percent. The U.S. preliminary rate for October was 4.9 percent, down one-tenth of a percentage point from the previous month.
Economic Summary
Over the past year, Tennessee’s unemployment rate decreased from 5.6 percent to 4.8 percent while the national rate declined from 5.0 percent to 4.9 percent.
Total seasonally adjusted nonfarm employment increased 7,500 jobs from September to October. The largest increases occurred in leisure/hospitality, professional/business services, and education/health services.
Over the year, nonfarm employment increased 70,700 jobs. The largest increases occurred in education/health services, professional/business services, and trade/transportation/utilities.
