December Unemployment Rate 5.2 Percent
NASHVILLE - Tennessee’s unemployment rate for the month of December is 5.2 percent, up slightly from the seasonally adjusted November rate of 5.0 percent, Commissioner of Labor & Workforce Development James Neeley announced today.
“The state rate remains below the December national rate of 5.4 percent and has fallen from the December 2003 rate of 6.0 percent,” said Commissioner Neeley. “We are continuing to see positive signs of a slow growing economy in the last year. The December year-over-year employment growth is approximately 2 percent according to the household survey, while the number of unemployed people fell almost 12 percent.”
The November to December industry figures show increases in retail trade, up by 6,600. Increases also occurred in professional and business services jobs, up by 1,400. Month-to-month seasonal decreases took place in leisure and hospitality jobs, down by 1,700. State government educational services employment decreased 1,000.
From December 2003 to December 2004, leisure and hospitality jobs increased by 5,800. Trade, transportation and utilities jobs increased by 5,300. Jobs in educational and health services rose by 4,900. Year-to-year decreases took place in professional and business services, down 1,900 jobs. Information employment decreased by 1,100.
ATTENTION: December 2004 County and MSA rates will be released at 1:30 p.m. on Thursday, January 27, 2005.
NOTE: Information will be available on the Internet: enter www.tennessee.gov/labor-wfd
NOTE: Tennessee’s employment and unemployment statistics are based on two major surveys. The Current Population Survey (CPS) is a survey by place of residence, providing estimates on the number of people in the labor force, total employment, unemployment, and the unemployment rate. Beginning in January 1992, the CPS data are seasonally adjusted for all states as directed by the Bureau of Labor Statistics. The business survey collects data by place of work and creates information about jobs in various industries. The business survey data are non-seasonally adjusted at this time.