State Unemployment Rate Holds Steady

TENNESSEE’S STATEWIDE UNEMPLOYMENT RATE HELD STEADY AT 3.3% IN MAY, ACCORDING TO NEWLY RELEASED DATA FROM THE DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT (TDLWD). THAT NUMBER IS UNCHANGED FROM THE STATE’S UNEMPLOYMENT RATE IN APRIL. WHILE THE SEASONALLY ADJUSTED UNEMPLOYMENT RATE DID NOT CHANGE IN THE MONTH-TO-MONTH COMPARISON, IT WAS JUST 0.1 OF A PERCENTAGE POINT HIGHER THAN THE MAY 2022 RATE OF 3.2%, WHICH IS THE STATE’S ALL-TIME LOWEST JOBLESS NUMBER. THE LATEST STATISTICS SHOW TENNESSEE EMPLOYERS ADDED 2,700 JOBS BETWEEN APRIL AND MAY. THE LARGEST INCREASES OCCURRED IN THE HEALTH CARE AND SOCIAL ASSISTANCE SECTOR. THE NEXT LARGEST INCREASE WAS IN THE ARTS, ENTERTAINMENT, AND RECREATION SECTOR, FOLLOWED BY THE LOCAL GOVERNMENT SECTOR.

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