TDLWD: Unemployment ticks up slightly in October

(TDLWD) Tennessee continues to experience low unemployment, despite a slight uptick in October’s monthly rate, according to the Department of Labor and Workforce Development. The seasonally adjusted number for the month increased by just 0.1 of a percentage point to 3.5%. The state has had unemployment rates at or below 3.5% since January 2022.
In a year-to-year comparison, the statewide unemployment rate is down 0.2 of a percentage point from 3.7% to 3.5%.
Tennessee employers continue to create new jobs. In October, businesses reported 5,800 new nonfarm jobs across the state. The largest increases came in the accommodation and food services sector, the construction sector, and the professional, scientific, and technical services sector.
Between October 2021 and October 2022, Tennessee employers added 123,200 jobs in every corner of the state. The leisure and hospitality sector accounted for the largest number of new jobs during the year. The trade, transportation, and utilities sector, followed by the education and health services sector, had the next largest increase of new jobs.
You can find a complete analysis of Tennessee’s October 2022 unemployment data here.

Across the nation, the seasonally adjusted unemployment rate grew by 0.2 of a percentage point in October to 3.7%. Compared to October 2021, the national rate is down 0.9 of a percentage point.

About Jim Harris

Jim Harris has been WYSH's News & Sports Director since 2000. In addition to reporting local news, he is the play-by-play voice for Clinton High School football, boys' and girls' basketball and baseball. Catch Jim live weekdays beginning at 6:30 am for live local news, sports, weather and traffic plus the Community Bulletin Board, shenanigans with Ron Meredith and more on the Country Club Morning Show on WYSH. Jim lives in Clinton with his wife Kelly and daughter Carolina, and cats Oliver, Bow and Libby.

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