Tennessee Starts New Year With Continued Low Unemployment

  • Thursday, February 29, 2024
Tennessee started the new year with little movement in its seasonally adjusted unemployment rate. New data from the Department of Labor and Workforce Development showed the statewide jobless number inched up only 0.1 of a percentage point to 3.5 percent. December’s revised rate was 3.4 percent.
 
In a year-to-year comparison, the statewide unemployment rate increased by 0.1 of a percentage point.
 
Employers added a healthy number of new jobs across the state between December and January.
There were 9,900 new nonfarm jobs created month to month, and the largest increase came in the professional and business services sector. The trade, transportation, and utilities sector had the second-largest number of new jobs, followed by the manufacturing sector.
 
In a year-to-year comparison, there were 4,900 new nonfarm jobs created. The education and health services sector accounted for the largest percentage of those new jobs. The leisure and hospitality sector had the second-biggest gain in employment, followed by the trade, transportation, and utilities sector.  
 
A complete economic analysis of the January 2024 statewide unemployment data is available here.

Nationally, the seasonally adjusted unemployment rate remained unchanged at 3.7 percent. That number was 0.3 of a percentage point higher than the January 2023 statistic.
 
Job seekers can see what reemployment services the state provides at no cost, all on an easy-to-access website. TNWorkReady.com is a great place to search for employment and training opportunities or to find a nearby American Job Center or Adult Education program.
 
TDLWD also has the Tennessee Office of Reentry which focuses on justice-involved individuals who recently left incarceration. TOOR creates and coordinates opportunities across the state to enable these individuals to receive a second chance at entering the state’s workforce.
 
The state of Tennessee will release the January 2024 unemployment data for each of the 95 counties on Thursday, March 7 at 1:30 p.m. CST.
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