September’s Unemployment Rate Inches Up Slightly from State’s All-Time Low Rate
Nashville – Tennessee’s unemployment rate for Sept. 2023 inched up slightly from the state’s all-time low rate of 3.1%. Data from the Department of Labor and Workforce Development (TDLWD) showed the seasonally adjusted rate increased by 0.1 of a percentage point to 3.2% during the month.
Unemployment in Tennessee reached a historic low of 3.1% in July and the rate held steady at that number for two months. The Sept. 2023 statewide unemployment rate was 0.2 of a percentage point lower when compared to last year.
Over the month, Tennessee employers created a substantial number of new jobs across the state. They reported an increase of 8,700 new nonfarm jobs. The mining, logging, and construction sector accounted for the largest percentage of those jobs, followed by the leisure and hospitality sector, and then the education and health services sector.
During the last year, the number of new nonfarm jobs across the state increased by 54,000. The education and health services sectors saw the largest jump in employment, followed by the leisure and hospitality sector and then the government sector.
TDLWD has a complete analysis of Tennessee’s Sept. 2023 unemployment data available here. Nationally, the seasonally adjusted unemployment in September remained unchanged from the August rate of 3.8%.
Other news items you may want to check out: