Tennessee Unemployment Hits Record Low

The statewide unemployment rate in Tennessee dropped to a new historic low in February according to data released by the Tennessee Department of Labor and Workforce Development (TDLWD). The seasonally adjusted rate of 3.2 percent is 0.1 of a percentage point lower than the previous historic low.
Tennessee reached its previous record low unemployment rate of 3.3 percent in October 2018 and it remained at the level for four consecutive months. The state began tracking unemployment rates in 1976.
Over the past year, Tennessee’s February unemployment rate decreased from 3.6 percent of 3.2 percent.
While Tennessee did see record-breaking unemployment in February, there was a decrease in the number of jobs across the state. Total nonfarm employment was down by 1,500 jobs between January and February. The state experienced the biggest decreases in the mining/logging/construction sector, followed by the professional/business services sector.
In a year to year comparison, Tennessee employers created an estimated 53,000 new jobs. The sector with the largest increase was leisure and hospitality, followed by trade/transportation/utilities and manufacturing.
The national unemployment rate also decreased in February. The seasonally adjusted unemployment rate for the United States is 3.8 percent, down 0.2 percentage point from January.