Unemployment Rate In Tennessee Down In October

Wednesday, November 21, 2012

County non-seasonally adjusted unemployment rates for October 2012, released Wednesday, show the rate decreased in 14 counties, increased in 64, and remained the same in 17.
 
Specific county information is available at http://www.tn.gov/labor-wfd/labor_figures/Labor_Oct12.pdf

Tennessee’s unemployment rate for October decreased to 8.2 percent, down from the September revised rate of 8.3 percent. The national unemployment rate for October 2012 was 7.9 percent, 0.1 percentage point higher than the September rate of 7.8 percent.

The state unemployment rate is seasonally adjusted while the county unemployment rates are not. Seasonal adjustment is a statistical technique that eliminates the influences of weather, holidays, the opening and closing of schools, and other recurring seasonal events from economic time series.

Knox County had the state’s lowest major metropolitan rate of 5.9 percent, unchanged from September.  Davidson County was 6.5 percent, down from 6.6 percent. Hamilton County was 7.3 percent, up from 7.1 percent, and Shelby County was 8.7 percent, up from 8.5 percent in September.  



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