July UNEMPLOYMENT RATE 6.9 PERCENT
Rate up 0.4 percent from june
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for July was 6.9 percent, up 0.4 percentage point from the June rate of 6.5. The unemployment rate for Tennessee has not been this high since May 1987. Last year, in 2007, the July unemployment rate was 4.6 percent. The national unemployment rate for July 2008 was 5.7 percent, up from the June rate of 5.5 percent.
“Compared to last year, Tennessee continues to see job losses in manufacturing, professional/business services and financial activities employment,” said Commissioner Neeley. “At the same time we are experiencing year-to-year gains in educational and health services employment and in local government educational services.”
From July 2007, educational and health services gained 6,500 jobs. Local government educational services employment increased by 2,900; and employment in general merchandise stores was up 1,700. Manufacturing jobs were down from a year ago with employment decreasing by 9,100; professional and business services employment lost 5,100 jobs and financial activities employment was down 3,400 jobs.
June-to-July gains occurred in clothing and clothing accessories stores employment, increasing by 500; jobs in hospitals increased 300; and printing and related support activities employment increased by 200 jobs. Month-to-month declines included local and state government educational services with seasonal losses totaling 5,300. Manufacturing was down 3,600 jobs.
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