January UNEMPLOYMENT RATE 4.9 PERCENT
Rate down 0.1 percent from revised december 2007figure
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for January was 4.9 percent, down 0.1 percentage point from the revised December rate of 5.0. In 2007 the January unemployment rate was 4.6 percent. The national unemployment rate for January 2008 was also 4.9 percent, down from the December national rate of 5.0 percent.
“Tennessee’s unemployment rate is following the national trend,” said Commissioner Neeley. “We’ve had moderate employment growth from December to January. If you look at the course of the last year, generally we’ve seen the rate move slightly upward as employment growth has been modest and increases in the number of people looking for work have grown somewhat more rapidly.”
December-to-January gains happened in machinery manufacturing increasing by 1,000; gasoline stations employment increased 200; and telecommunications jobs increased 200. Month-to-month declines included trade, transportation and utilities employment, down 21,700. Professional and business services lost 18,400 jobs, and leisure and hospitality lost 9,700 jobs from December.
Over-the-year increases led with gains of 9,000 jobs in educational and health services. Leisure and hospitality employment increased by 4,600; and government jobs were up 3,700. Manufacturing jobs were down from a year ago with employment decreasing by 16,100; real estate, rental and leasing employment lost 900 jobs and repair and maintenance employment declined by 500.
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