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Business News Displaying items by tag: unemployment rate
Business News Displaying items by tag: unemployment rate
Displaying items by tag: unemployment rate
State Unemployment Rate Drops for Eighth Consecutive Month
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for March fell to 7.9 percent, down from the February revised rate of 8.0 percent. The national unemployment rate for March 2012 was 8.2 percent, 0.1% percentage point lower than the February rate.
"Tennessee’s unemployment is the lowest since November 2008,” Commissioner Davis said. “The decline is attributed to losses in both employment and unemployment, but the number of unemployed declined at a faster rate, resulting in the net decrease in the state rate.”
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Seasonally Adjusted Labor Force Estimates - Household Survey
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|||||
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Mar 2011
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Revised
Feb 2012
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Preliminary
March 2012
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Change from March 2011 to March 2012
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Change from Feb. 2012
to March 2012
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|
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Civilian Labor Force
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3,134,300
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3,123,400
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3,109,400
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(24,900) -0.8%
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(14,000) -0.4%
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Employment
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2,838,800
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2,872,600
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2,865,000
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26,200 0.9%
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(7,600) -0.3%
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Unemployment
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295,500
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250,800
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244,500
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(51,000) -17.3%
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(6,300) -2.5%
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Unemployment Rate
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9.4%
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8.0%
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7.9%
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-1.5 percentage points
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-0.1 percentage point
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Tennessee’s state unemployment rate is derived from the following three sources of information: the Business Survey, the Household Survey, and unemployment claim information. Tennessee’s Household Survey is conducted by the Census Bureau and also contributes toward the national unemployment rate.
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Seasonally Adjusted Nonfarm Employment – Business Survey
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|||||
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(Numbers in thousands)
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Mar 2011
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Revised
Feb 2012
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Preliminary
March 2012
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Change from March 2011 to March 2012
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Change from Feb. 2012 to March 2012
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Total Nonfarm
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2,647.3
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2,693.0
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2,691.3
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44.0
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-1.7
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Mining/logging/construction
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106.8
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115.2
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114.9
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8.1
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-0.3
|
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Manufacturing
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303.2
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307.9
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309.3
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6.1
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1.4
|
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Trade/transportation/utilities
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559.6
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558.1
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557.1
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-2.5
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-1.0
|
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Information
|
44.2
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44.7
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44.2
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0.0
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-0.5
|
|
Financial activities
|
135.3
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135.7
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135.7
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0.4
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0.0
|
|
Professional/business services
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317.8
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332.5
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328.5
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10.7
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-4.0
|
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Education/health services
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382.2
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389.2
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388.4
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6.2
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-0.8
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Leisure/hospitality
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265.3
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267.7
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270.0
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4.7
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2.3
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Other services
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101.6
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101.6
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101.8
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0.2
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0.2
|
|
Government
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431.3
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440.4
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441.4
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10.1
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1.0
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Published in
Business News
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.
Published in
Business News
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.
Published in
Business News
County non-seasonally adjusted unemployment rates for June 2011, released today show that the rate increased in 91 counties. The four counties that decreased were DeKalb, Hawkins, Moore and Smith.
Tennessee’s seasonally-adjusted unemployment rate for June was 9.8 percent, up slightly from the May revised rate of 9.7. The national unemployment rate for June 2011 was 9.2 percent, up from the May revised rate of 9.1 percent.
Knox County had the state’s lowest major metropolitan rate of 8.0 percent, up from 7.4 percent in May. Hamilton County was 9.2 percent, up from 8.2 percent the previous month. Davidson County was 9.1 percent, up from 8.5 percent in May, and Shelby County was 11.1 percent, up from the May unemployment rate of 10.0 percent.
Lincoln County registered the state's lo west county unemployment rate at 6.8 percent, up from the May rate of 6.1 percent, followed by Williamson County at 7.2 percent, up from 6.6 percent. Scott County had the state’s highest unemployment rate at 20.9 percent, up from 20.7 percent in the previous month, followed by Lauderdale County at 15.7 percent, up from 14.9 percent in May.
NOTE: Information will be available on the Internet; enter http://www.tn.gov/labor-wfd/labor_figures/june2011county.pdf
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County Unemployment Rate Range
June, 2011 |
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Rate less than 5.0%
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0 counties
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Rate is 5.0% or greater, but less than 10.0%
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24 counties
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Rate is 10.0% or greater
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71 counties
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Rate is 20% or greater
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1 county
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Published in
Local News
Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for June was 9.8 percent, up slightly from the May revised rate of 9.7. The national unemployment rate for June 2011 was 9.2 percent, up from the May revised rate of 9.1 percent.
“The decline in employment combined with a slight expansion in the labor force explains the higher unemployment rate,” Commissioner Davis said. “This is the third month in a row in which the unemployment rate has slightly increased.”
According to the household survey conducted by the Labor and Workforce Development department, the number of employed Tennesseans decreased by 3,200 from May to June 2011. The civilian labor force increased by 1,800, and at 3,143,900 is the highest on record.
“The increase in employment levels over the last 12 months is still positive with more than 74 thousand jobs gained,” added Davis. “This growth rate of 2.7 percent is much higher than the national employment picture which only grew 0.2 percent from June 2010 to June 2011.”
Major Changes in Estimated Nonagricultural Employment
May 2011 to June 2011
May 2011 to June 2011
Month-to-month increases occurred in leisure and hospitality, up 4,700 jobs; mining, logging, and construction was up 1,900; and manufacturing increased by 1,600. Government jobs decreased by 30,800 (mostly due to local government educational service declines); educational services were down by 3,000; and administrative, support and waste services declined by 1,700.
Major Changes in Estimated Nonagricultural Employment
June 2010 to June 2011
June 2010 to June 2011
Year-over-year increases took place in private educational and health services, up 7,100 jobs; transportation and warehousing, up 5,500; and food services and drinking places increased by 5,300.
Employment decreases took place in government, down 11,000; retail trade, down 2,600; and accommodation, down 2,200.
Published in
Local News
