Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today the Tennessee preliminary unemployment rate for October was 5.6 percent, one-tenth of one percentage point lower than the September revised rate of 5.7 percent. The U.S. preliminary rate for October was 5.0 percent, one-tenth of one percentage point lower than the prior month. Economic Summary
Tennessee’s unemployment rate for October declined slightly to 5.6 percent.
Over the past year, Tennessee’s unemployment rate decreased from 6.6 percent to 5.6 percent while the national rate declined from 5.7 percent to 5.0 percent.
The number of unemployed persons is the lowest since December 2007.
Total nonfarm employment increased 10,400 jobs from September to October. The largest increases occurred in professional/business services, government, and wholesale trade.
Over the year, nonfarm employment increased 50,200 jobs. The largest increases occurred in trade/transportation/utilities, leisure/hospitality, and professional/business services.
