(TDLWD press release) Newly released data from the Tennessee Department of Labor and Workforce Development (TDLWD) showed the state’s economic recovery continued in September, as the jobless rate for the month dropped significantly when compared to August.
The seasonally adjusted unemployment rate for September 2020 is 6.3%, a decrease of 2.3 percentage points from the revised August rate of 8.6%.
The latest rate is 9.2 percentage points lower than the April 2020 rate of 15.5%. That is Tennessee’s all-time highest unemployment rate and was recorded during the peak of COVID-19 business closures.
Tennessee’s unemployment rate is moving closer to pre-pandemic levels. One year ago, the unemployment rate for September was 3.3%.
Employers across the state created 11,100 new nonfarm jobs between August and September. The leisure/hospitality sector was responsible for the largest number of new hires for the month. The manufacturing sector created the second-largest increase, followed by the education/health services sector.
Between September 2019 and September 2020, Tennessee recorded a deficit of 131,500 jobs. The hardest-hit sectors are leisure/hospitality, manufacturing and professional/business services.
Unemployment also decreased nationally in September. The seasonally adjusted rate for the United States is 7.9%, down 0.5 of a percentage points from August’s revised rate of 8.4%. Tennessee’s unemployment rate is now 1.6 percentage points lower than the national rate.