FOR IMMEDIATE RELEASE

CONTACT: MILISSA REIERSON
MARCH 22, 2007
(615) 741-2257 (O)
 


FEBRUARY UNEMPLOYMENT RATE 4.9 PERCENT
RATE DECREASES 0.2 PERCENTAGE POINT FROM FEBRUARY '06

NASHVILLE - Tennessee’s unemployment rate for the month of February is 4.9 percent, up from the seasonally adjusted January 2007 rate of 4.8 percent, Commissioner of Labor & Workforce Development James Neeley announced today. In 2006, Tennessee’s unemployment rate for the month of February was 5.1 percent. The national unemployment rate for February 2007 is 4.5 percent, down from the January rate of 4.6 percent.

“From February 2006, employment growth continues to be healthy according to the household survey,” said Commissioner James Neeley. “The business survey shows continued losses in manufacturing, but other major industries including leisure and hospitality, educational and health services have shown solid growth for the past year.”

The January-to-February business survey shows employment increases in state government educational services, up 5,300 jobs; educational services also increased by 1,700; and employment in local government educational services increased 1,700 jobs. Seasonal month-to-month employment decreases took place in retail trade, down 2,400 jobs; manufacturing decreased by 1,600, and hospital employment decreased by 700.

From February 2006 to February 2007, major employment increases occurred in leisure and hospitality jobs, up by 8,600. Jobs in construction rose by 8,200, and educational and health services jobs increased by 7,600. Employment decreased in manufacturing; textiles and apparel decreased by 1,700, furniture and related products by 1,400 and transportation equipment by 1,500.

# # #
(07-37)