FEBRUARY UNEMPLOYMENT RATE 5.2 PERCENT
RATE DOWN FROM YEAR AGO
NASHVILLE - Tennessee’s unemployment rate for the month of February is 5.2 percent, up 0.1 percentage point from the seasonally adjusted January rate of 5.1 percent, Commissioner of Labor & Workforce Development James Neeley announced today. The national unemployment rate for February is 4.8 percent, up from the January rate of 4.7.
“From February 2005 to February 2006 the business survey shows Tennessee gained more than 34,000 jobs,” said Commissioner Neeley. “The household survey is also showing us 1.6 percent employment growth. Both surveys indicate solid job growth in the last year. Our 2005 annual average estimates indicate we have added 81,000 net jobs over the past two years. Total nonagricultural employment averaged 2,743,700 jobs in 2005 and replaced the previous record high employment level set in 2000. With these data we are optimistic Tennessee’s economy will continue to grow and prosper in the coming year.”
January-to-February figures show state government educational service employment grew by 5,100. Employment in local government educational services grew by 2,200. Educational and health services grew by 2,000 jobs. Month-to-month seasonal decreases took place in retail trade, down 2,300 jobs; transportation equipment employment declined by 600, and apparel manufacturing decreased by 200.
From February 2005 to February 2006, trade, transportation and utilities increased by 9,900. Jobs in leisure and hospitality rose by 9,200, and educational and health services jobs increased by 7,700. Employment decreased in manufacturing by 5,500, food and beverage stores by 1,300 and federal government jobs by 800.
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