Tennessee Labor & Workforce Development Commissioner Burns Phillips announced Thursday the Tennessee preliminary unemployment rate for August was 5.7 percent, unchanged from the July revised rate. The U.S. preliminary rate for August was 5.1 percent, two tenths of one percentage point lower than the prior month.
Economic Summary
· Tennessee's August unemployment rate remained at 5.7 percent for the third consecutive month. The U.S. rate declined to 5.1 percent.
· Over the past year, Tennessee's unemployment rate decreased from 6.6 percent to 5.7 percent while the national rate declined from 6.1 percent to 5.1 percent.
· Total nonfarm employment increased 6,700 jobs from July to August. The largest increases occurred in trade/transportation/utilities, government, and leisure/hospitality.
· Over the year, nonfarm employment increased 52,500 jobs. The largest increases occurred in trade/transportation/utilities, leisure/hospitality, and durable goods manufacturing.