NASHVILLE - Tennessee’s unemployment rate for the month of March is 4.7 percent, down from the seasonally adjusted February 2007 rate of 4.9 percent, Commissioner of Labor & Workforce Development James Neeley announced today. In 2006, Tennessee’s unemployment rate for the month of March was 5.2 percent. The national unemployment rate for March 2007 is 4.4 percent, down from the February rate of 4.5 percent.
“From March 2006, employment growth continues to be healthy according to both the household and business surveys,” said Commissioner James Neeley. “The business survey shows continued year over-year-growth in leisure/hospitality, construction and educational/health services.”
The February-to-March business survey shows employment increases in leisure/hospitality, up 8,400 jobs; trade/transportation/utilities employment also increased by 5,900; and employment in construction increased 4,600 jobs. Seasonal month-to-month employment decreases took place in transportation equipment, down 300 jobs; employment in electrical equipment/appliances decreased by 200, and finance/insurance employment decreased by 200.
From March 2006 to March 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 7,700. Employment decreased in manufacturing by 9,900; including in textiles and apparel decreased by 1,700, furniture and related products by 1,500 and transportation equipment manufacturing by 1,400.