Statewide employment situation improves as Tennessee’s economy continues to rebound
NASHVILLE – Tennessee’s statewide unemployment rate decreased for the second consecutive month in July, according to newly released data from the Department of Labor and Workforce Development.
The preliminary, seasonally adjusted rate for July 2021 is 4.7%, a drop of 0.2 of a percentage point from June’s revised rate of 4.9%. Tennessee’s unemployment rate has been at 5.1%, or lower, for the last seven months. In March 2020, the last month before COVID-19 business closures impacted the economy, Tennessee’s unemployment rate was 4%.
In July 2020, the state’s unemployment rate was 8.9% which is 4.2 percentage points higher than the current rate.
Total nonfarm employment decreased by 6,100 jobs between June and July. The largest decreases occurred in the local government, retail trade, and wholesale trade sectors.
Over the year, nonfarm employment in Tennessee increased by 142,600 jobs. The largest increases occurred in the professional/business services sector, followed by the leisure/hospitality, and trade/transportation/utilities sectors.
Nationally, seasonally adjusted unemployment dropped 0.5 of a percentage point to 5.4%. One year ago, the United States unemployment rate was 10.2%.
A complete analysis of Tennessee’s July 2021 unemployment data is available here.
Tennesseans searching for employment can find assistance in becoming work-ready by visiting the state’s one-stop resource website, www.TNWorkReady.com.
Job seekers can search through more than 430,000 open positions posted on www.Jobs4TN.gov that cover every skill level, every pay range, and are located in every area of the state.
The state of Tennessee will release the July 2021 county unemployment rates on Thursday, Aug. 26, 2021, at 1:30 p.m. CT.
