Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today the Tennessee preliminary unemployment rate for May was 5.8 percent, two-tenths of one percentage point lower than the April revised rate of 6.0 percent. The U.S. preliminary rate for May was 5.5 percent, one-tenth of one percentage point higher than the prior month.Economic Summary
Tennessee’s May rate declined to 5.8 percent, the fourth consecutive monthly decline.
Over the past year, Tennessee’s unemployment rate decreased from 6.5 percent to 5.8 percent while the national rate declined from 6.3 percent to 5.5 percent.
The number of unemployed persons is the lowest since March 2008.
Total nonfarm employment increased 10,000 jobs from April to May. The largest increases occurred in leisure/hospitality, education/health services, & trade/transportation/utilities.
Over the year, nonfarm employment increased 53,800 jobs. The largest increases occurred in trade/transportation/utilities, leisure/hospitality, and education/health services.