The U.S economy bounced back in surprisingly strong fashion last month as businesses began to reopen from the coronavirus lockdown. Nationwide, employers added 2.5 million jobs in May, and the unemployment rate fell to 13.3%, surprising many analysts who thought it might approach 20%..
13.3% is still extremely high by historical standards, but reflects an improvement over April’s jobless rate of 14.7%.
April saw nearly 20.7 million jobs lost, as the economy was all but shut down as part of the effort to prevent the spread of COVID-19.
The Labor Department says another 1.87 million people filed claims for unemployment insurance last week. That’s down 249,000 from the previous week. While still high, the number of new claims has been declining steadily from a peak of 6.8 million the week ending March 28.
In the past 11 weeks, 42.6 million new claims have been filed.
In Tennessee, 22,784 people filed for unemployment last week, bringing the total since the pandemic began to 581,405. Still, that figure, like the national data, has also seen nine straight weeks of decline.
|Week||Week Ending Date||New Claims Filed||Continued Claims|
|10||March 14, 2020||2,702||16.342|
|11||March 21, 2020||39,096||16,098|
|12||March 28, 2020||94,492||34,570|
|13||April 4, 2020||116,141||112,438|
|14||April 11, 2020||74,772||199,910|
|15||April 18, 2020||68,968||267,053|
|16||April 25, 2020||43,792||324,543|
|17||May 2, 2020||37,319||321,571|
|18||May 9, 2020||29,308||325,095|
|19||May 16, 2020||28,692||314,487|
|20||May 23, 2020||26,041||310,126|
|21||May 30, 2020||22,784||302,260|
|New Claims Since March 15||581,405|
Regional Data: Week Ending May 30
|Local Workforce Development Area||New Claims Filed|
|Northern Middle Tennessee||5,754|
|Southern Middle Tennessee||1,010|
|West TN Mobile American Job Center||10|
|Middle TN Mobile American Job Center||56|
|East TN Mobile America Job Center||5|