(TDLWD) Tennessee’s statewide unemployment rate held steady at 5% between April and May 2021, according to newly released data from the Department of Labor and Workforce Development (TDLWD).
While Tennessee’s unemployment rate did not change in the month-to-month comparison, it was 4.6 percentage points lower than the May 2020 rate. At that time, many of the state’s employers remained closed due to the COVID-19 health emergency. Just one month after the state recorded its highest unemployment rate in history, 15.8% in April 2020, the economy had already begun to show signs of improvement.
The latest statistics show Tennessee employers added 5,000 jobs between April and May. The largest increases occurred in the professional/business services, leisure/hospitality, and financial activities sectors.
Unemployment also dropped nationally in May to 5.8%, down 0.3 of a percentage point from the previous month’s rate. In the year-to-year comparison, the United States unemployment rate is down 7.5 percentage points from May 2020.