By Amye Anderson
UCBJ Managing Editor
UPPER CUMBERLAND – Another month, another low unemployment rate reported. While the preliminary seasonally-adjusted 3.4-percent unemployment rate for March isn’t the lowest rate reported in recent months, it still ranks near historic lows; matching the revised rate from the previous month.
Tennessee’s overall unemployment rate, which hit an all-time low of 3.3 percent in September 2017, hasn’t topped 4 percent since May of last year. Nationwide, the unemployment rate for March was reported at 4.1 percent; dropping 0.4 percent from the same time last year. The national rate has held steady since October 2017.
According to the Tennessee Department of Labor and Workforce Development, the state added 4,900 new nonfarm jobs between February and March. In the last 12 months, it’s estimated employers created 49,000 new jobs; with the largest increases occurring in the accommodations/food services, wholesale trade, and transportation/warehousing/utilities sectors.
The statewide unemployment rate is seasonally adjusted to remove influences of weather, holidays, the opening and closing of schools and other recurring seasonal events from the rate calculations.
Local, county-by-county unemployment rates will be released by the state on Thursday, April 26.
