Tennessee Labor & Workforce Development Commissioner Burns Phillips announced Thursday the Tennessee preliminary unemployment rate for October was 7.1 percent, two tenths of one percentage point lower than the September revised rate of 7.3 percent. The U.S. preliminary rate for October was 5.8 percent, down from 5.9 percent in September.
Economic Summary
- Over the past year, Tennessee's unemployment rate decreased from 8.1 percent to 7.1 percent while the national rate declined from 7.2 percent to 5.8 percent.
- Total nonfarm employment increased 7,900 jobs from September to October. The largest increases occurred in trade/transportation/utilities, professional/business services, and manufacturing.
- Over the year, nonfarm employment increased 59,800 jobs. The largest increases occurred in professional/business services, trade/transportation/utilities, and leisure/hospitality.