Unemployment Rate Remains Steady

FOR A THIRD CONSECUTIVE MONTH, THE STATEWIDE UNEMPLOYMENT RATE REMAINED AT AN ALL-TIME LOW OF 3%, ACCORDING TO NEW DATA FROM THE DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT (TDLWD). THE STATE FIRST MARKED THE RECORD LOW FOR SEASONALLY ADJUSTED UNEMPLOYMENT IN MAY, AND IT HAS HELD STEADY EVER SINCE. OVER THE PAST YEAR, TENNESSEE’S STATEWIDE UNEMPLOYMENT RATE DROPPED 0.2 OF A PERCENTAGE POINT, FROM 3.2% TO 3%. EMPLOYERS ACROSS THE STATE ADDED 2,000 NEW NONFARM JOBS TO THEIR PAYROLLS BETWEEN JUNE AND JULY. THE CONSTRUCTION SECTOR ACCOUNTED FOR MOST OF THE NEW JOBS. THE HEALTH CARE AND SOCIAL ASSISTANCE SECTOR WAS RESPONSIBLE FOR THE NEXT HIGHEST AMOUNT OF JOB GROWTH, FOLLOWED BY THE WHOLESALE TRADE SECTOR.