NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for August was 4.0 percent, down 0.1 percentage point from July and the lowest monthly rate since July 2000. The national unemployment rate for August 2007 is 4.6 percent, unchanged from July.
“Over the past year alone, the state’s jobless rate has fallen from 5.2 percent to 4.0 percent,” said Commissioner Neeley. “We have seen continued growth in employment, with the growth in the number of people finding jobs exceeding the growth in the number of people looking for jobs.”
July-to-August major increases occurred in local government educational services, up 10,000 jobs due to schools starting; and administrative, support, and waste services, up 5,000 from seasonal downturn in July. Month-to-month decreases took place in machinery manufacturing, down 900; and seasonal decline in arts, entertainment and recreation, down 600.
Construction again led year-to-year gains, increasing by 8,200 jobs from August 2006 to August 2007. Leisure and hospitality jobs were up by 8,100; and health care and social assistance employment increased by 5,800. The biggest decreases over the year were in manufacturing jobs, down 10,600 from August 2006.