Tennessee Commissioner of Labor & Workforce Development Karla Davis announced Thursday that Tennessee’s unemployment rate for November decreased to 7.6 percent, down from the October revised rate of 8.2 percent. The national unemployment rate for November 2012 was 7.7 percent, 0.2 percentage point lower than the October rate.
Economic Summary:
· Tennessee’s November unemployment rate is the lowest rate since October 2008.
· Over the past year, Tennessee’s unemployment rate has declined from 8.7% to 7.6% (-1.1 percentage point) while the national rate declined from 8.7% to 7.7% (-1.0 percentage point).
· The number of unemployed persons is the lowest since October 2008.
· Total nonfarm employment increased 3,600 jobs from October to November, with increases in trade/transportation/utilities and manufacturing.
· Total nonfarm employment increased 25,800 jobs from November 2011 to November 2012, with increases in manufacturing and education/health services. Declines occurred in financial activities and wholesale trade.