MAY UNEMPLOYMENT RATE 5.4 PERCENT
RATE DOWN FROM LAST YEAR
NASHVILLE - Tennessee’s unemployment rate for the month of May is 5.4 percent, the same as the seasonally adjusted April rate, Commissioner of Labor & Workforce Development James Neeley announced today. The national unemployment rate for May is 4.6 percent, down 0.1 percentage point from the April rate.
“Tennessee’s unemployment rate is below where we were a year ago at 5.7 percent,” said Commissioner Neeley. “We continue to see employment growth in both the household and business surveys with the most significant growth in the service providing industries.”
April-to-May figures show increases in leisure and hospitality, up 4,200 jobs. Employment in construction increased by 2,000. Trade, transportation and utilities employment increased by 1,900 jobs. Month-to-month employment decreases took place in professional, scientific and technical services with 2,500 jobs lost. State government educational services employment dropped by 2,400 jobs, and educational services lost 1,500 jobs.
From May 2005 to May 2006, trade, transportation and utilities increased by 10,200. Jobs in leisure and hospitality rose by 8,700 and educational and health services jobs increased by 7,200. Employment decreased in manufacturing by 5,200, food and beverage stores by 1,500 and federal government jobs by 700.