decemBER UNEMPLOYMENT RATE 5.3 PERCENT
Rate up 0.4 percent from a year ago
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for December was 5.3 percent, up 0.4 percentage point from November. In 2006 the December unemployment rate was 4.9 percent. The national unemployment rate for December 2007 was 5.0 percent, up from the November national rate of 4.7 percent.
“Tennessee’s unemployment rate experienced a notable increase from November to December, consistent with what’s happening across the nation,” said Commissioner Neeley. “We see this as a result of a slowdown in employment growth in the overall economy in Tennessee and the nation.”
November-to-December gains were seasonal, with retail trade increasing by 4,200; professional and business services employment increased 1,300; and transportation and warehousing jobs increased 1,100. Month-to-month declines included accommodation and food services employment, down 1,100. Employment in state government educational services was down 900 jobs, and machinery manufacturing lost 600 jobs from November.
Over-the-year increases led with gains of 8,000 jobs in leisure and hospitality. Educational and health services employment increased by 7,100; and construction jobs were up 7,000. Manufacturing jobs were down from a year ago with employment decreasing by 7,400; professional and business services employment lost 1,800 jobs and clothing and accessories stores declined by 1,600.
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