Unemployment Rate for February in Tennessee Remains at 3.5%

Mar 23, 2023 at 08:05 pm by WGNS News

Tennessee’s February 2023 unemployment remained unchanged at 3.5% for the fifth month in a row, according to the latest data released by the Department of Labor and Workforce Development. The state’s seasonally adjusted jobless number has been at or below 3.5% since January 2022.

In a year-to-year comparison, the statewide unemployment rate is up 0.1 of a percentage point from 3.4% to 3.5%.

February unemployment numbers for Rutherford County won’t be released until next week, but rates are expected to be similar to the unemployment figure that was recorded in January. In looking at January numbers, Rutherford County had a jobless rate of 2.7%. Smyrna's unemployment rate in January was the lowest in the county at 2.6%. LaVergne had the second lowest unemployment figure for January at 2.8%. Murfreesboro recorded a jobless rate of 2.9% this past January.

Throughout the month of February, Tennessee employers continued creating new jobs, which has helped the state’s economy thrive. There were 4,800 new nonfarm jobs reported across the state in February. The leisure and hospitality sector accounted for the largest number of new jobs, followed by the professional and business services sector and the government sector.  
Between February 2022 and February 2023, Tennessee employers added 103,300 jobs to their payrolls. The leisure and hospitality sector businesses were responsible for the largest number of new jobs over the last year. The education and health services sector had the next largest year-to-year increase, followed by the professional and business services sector.
A complete analysis of Tennessee's February 2023 unemployment data is available here.

Across the United States, the seasonally adjusted unemployment rate grew by 0.2 of a percentage point in February to 3.6%. When compared to the national rate one year ago, that current figure came in 0.2 of a percentage point lower.
April is National Second Chance Month and Tennessee’s Office of Reentry will hold events across the state to highlight the employment of justice involved individuals. Expungement consultations, state ID services, community resources, and second chance-friendly employers will be available in Jackson on April 6, Chattanooga on April 14, and Clarksville on April 21. A list of times and locations for each event is available here.
Job seekers in Tennessee looking for new employment, an opportunity to learn a new skill, or a pathway to earn a high school equivalency diploma can find helpful resources by logging onto TNWorkReady.com.


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