Tennessee July Unemployment Rate Is 8.4 Percent

State Unemployment Rate Increases For Third Consecutive Month

Thursday, August 16, 2012

Tennessee Commissioner of Labor & Workforce Development Karla Davis announced Thursday Tennessee’s unemployment rate for July increased to 8.4 percent, up from the June revised rate of 8.1 percent. The national unemployment rate for July 2012 was 8.3 percent, 0.1 percentage point higher than the June rate.

Economic Summary:
·         Tennessee’s July unemployment rate is the highest since December 2011, but is still 1.0 percentage point below one year ago
·         Total nonfarm employment increased 6,400 jobs from June to July.
There were increases in local government, education/health services, and durable goods manufacturing
·         There were small declines this month in administrative/support/waste services
·         Over the year, nonfarm employment increased 32,900 jobs, with increases in durable goods manufacturing, government, and health care/social assistance


Seasonally Adjusted Nonfarm Employment – Business Survey

(Numbers in thousands)

July 2011

Revised

June 2012

Preliminary

July 2012

Change from July 2011 to July 2012

Change from June 2012 to July 2012

 

Total Nonfarm

2,656.7

2,683.2

2,689.6

32.9

6.4

 

Mining/logging/construction

111.5

115.4

116.1

4.6

0.7

 

Manufacturing

307.3

314.5

316.5

9.2

2.0

 

Trade/transportation/utilities

561.4

557.7

556.6

-4.8

-1.1

 

Information

44.3

44.6

44.6

0.3

0.0

 

Financial activities

135.4

133.9

133.2

-2.2

-0.7

 

Professional/business services

323.1

328.9

326.8

3.7

-2.1

 

Educational services

47.4

47.1

47.3

-0.1

0.2

 

Health care/social assistance

336.4

342.7

344.9

8.5

2.2

 

Leisure/hospitality

266.3

268.9

267.9

1.6

-1.0

 

Government

422.9

428.4

433.3

10.4

 4.9

 






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