May Unemployment Rate 6.2 Percent
Influx of Youth into the Workforce Raises Rate Slightly
NASHVILLE - Tennessee’s unemployment rate for the month of May is 6.2 percent, up 0.4 percentage point from the seasonally adjusted April rate of 5.8 percent, Commissioner of Labor & Workforce Development James Neeley announced today. The national unemployment rate for May is 5.1 percent, down slightly from the April rate of 5.2 percent.
“The household survey for May shows an unusual increase in unemployed youth entering the workforce,” said Commissioner Neeley. “Some school systems across the state ended earlier this year sending more teens looking for summer work in May.”
The April-to-May figures show increases in leisure and hospitality jobs, up by 4,500. Construction jobs rose by 2,500 and manufacturing jobs rose 1,600. Month-to-month seasonal decreases took place in government jobs, down 3,700. Professional/scientific/technical services jobs decreased 2,500 and educational services jobs fell 1,300.
From May 2004 to May 2005, trade/transportation/utilities increased by 6,600, with retail trade contributing 4,400 of these jobs. Jobs in health care/social assistance rose by 6,100. Jobs decreased in accommodation by 1,700, information by 1,400, and state government educational services by 1,100.