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Business News Displaying items by tag: November 2011
Business News Displaying items by tag: November 2011
Displaying items by tag: November 2011
Rate Decreases in 79 Counties, Increases in 12, and Remains the Same in Four
NASHVILLE – County non-seasonally adjusted unemployment rates for November 2011, released today, show that the rate decreased in 79 counties, increased in 12 counties, and four counties remained the same.
Tennessee’s unemployment rate for November fell to 9.1 percent, down from the October revised rate of 9.5. The national unemployment rate for November 2011 was 8.6 percent, a decrease of 0.4 percentage point from the October rate.
Knox County had the state’s lowest major metropolitan rate of 6.3 percent, down from 6.7 percent in October.
Knox County had 15,000 unemployed out of a work force of 238,430.
Davidson County was 7.3 percent, down from 7.8 percent in the previous month. Hamilton County was 7.4 percent, down from 7.8 percent, and Shelby County was 9.4 percent, down from the October unemployment rate of 10.0 percent.
Lincoln County registered the state's lowest county unemployment rate at 5.6 percent, down from the October rate of 5.8 percent, followed by Williamson County at 5.8 percent, down from 6.3 percent. Scott County had the state’s highest unemployment rate at 17.6 percent, down from 18.1 percent in the previous month, followed by Obion County at 15.2, down from 15.6 percent in October.
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Rate Drops 0.4 Percentage Point from October
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced Tennessee’s unemployment rate for November fell to 9.1 percent, down from the October revised rate of 9.5. The national unemployment rate for November 2011 was 8.6 percent, a decrease of 0.4 percentage point from the October rate.
“This is the lowest unemployment rate Tennessee has experienced since January of 2009 at 9.0 percent,” Commissioner Davis said. “After seasonal adjustments were made, nearly 10,000 jobs were created since October with positive job growth in the service sector such as retail trade and temporary jobs.”
The state’s unemployment rate is seasonally adjusted to account for the hiring and layoff patterns that accompany regular events such as the winter holiday season and the summer vacation season. The nonagricultural figures (below) are unadjusted estimates.
Major Changes in Estimated Nonagricultural Employment
October 2011 to November 2011
From October to November, trade/transportation/utilities increased 9,200, of which 8,900 was in retail trade; and professional and business services was up by 7,100, and government increased by1,500 jobs. From October to November, arts, entertainment, and recreation decreased by 1,800 jobs; wholesale trade was down 1,400; and durable goods manufacturing declined by 400 jobs.
Major Changes in Estimated Nonagricultural Employment
November 2010 to November 2011
Year-over-year increases took place in local government education services services, up 12,300 jobs; professional and business services was up 9,000; and manufacturing increased by 5,400. Employment decreases took place in retail trade, which was down by 4,700 jobs; merchant wholesalers of nondurable goods were down 1,600; and hospitals declined by 1,400 jobs.
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