Tennessee Labor & Workforce Development Commissioner Burns Phillips announced Thursday the Tennessee preliminary unemployment rate for July was 7.1 percent, five tenths of one percentage point higher than the 6.6 June revised rate. The U.S. preliminary rate for July was 6.2 percent, up from 6.1 percent in June.
Economic Summary
· Over the past year, Tennessee's unemployment rate decreased from 8.4 percent to 7.1 percent while the national rate declined from 7.3 percent to 6.2 percent.
· Total nonfarm employment increased 3,300 jobs from June to July. The largest increases occurred in mining/logging/construction, financial activities, and retail trade.
· Over the year, nonfarm employment increased 51,900 jobs. The largest increases occurred in professional/business services, leisure/hospitality, and trade/transportation/utilities.