June rate down 1.4 percentage point from year ago
State rate lower than U.S.

NASHVILLE - Labor & Workforce Development Commissioner James Neeley announced today Tennessee's seasonally adjusted unemployment rate for June was 4.5 percent, down 1.4 percentage point from June 2003 when the rate registered 5.9 percent and down from the May rate of 4.8 percent. The U.S. rate, which was 6.3 percent for June a year ago, was unchanged from May at 5.6 percent.

"Typical seasonal factors are apparent in the month-to-month changes," said Neeley. "Construction was up 1,700 jobs from May, and tourism-related increases are reflected in leisure/hospitality, up by 5,000. Major employment decreases also followed normal patterns, with schools closing for the summer showing in government employment, losing 12,300 for the month, and educational services, down 2,800."

Year-to-year changes showed increases in trade/ transportation/utilities, up 7,100 jobs, and leisure/hospitality, up 6,200. Decreases occurred in state government, down 900, and merchant wholesalers, gasoline stations, information services, and electrical equipment/appliances, each down 800.

Neeley noted that the manufacturing job-loss rate continues to slow. From June 2003 to June 2004, manufacturing was down by only 600; in comparison, manufacturing for a year ago (June 2002 to June 2003) was down 17,300.

* ATTENTION: June 2004 county and MSA rates will be released at 1:30 p.m. on Thursday, July 22, 2004.

NOTE: Information will be available on the Internet; enter "http://www.state.tn.us/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.

(04-082)
###