Tennessee Unemployment Rate Unchanged for October at 5.1 Percent
Rate Drops Full Percentage Point Over Year
NASHVILLE - Labor & Workforce Development Commissioner James Neeley announced today the state seasonally adjusted unemployment rate for October 2004 was 5.1 percent, unchanged from the September rate and below the national October rate of 5.5 percent. The state rate was down a full percentage point from the October 2003 rate, which was 6.1 percent.
"The household survey showed 2.3 percent growth in employment over the year, which is at or above the long-term trend for Tennessee," said Neeley. He added that according to the business survey, employment from October 2003 to October 2004 grew the most in three industries. "Leisure/hospitality added 5,900 jobs, trade/transportation/utilities gained 5,400, and educational/health services was up 4,800." Year-to-year decreases occurred in administrative/waste services, down 1,600; state government, losing 1,000; and information, dropping 900.
changes were also typical for this time of year. Increases from September
to October were in trade/transportation/utilities, up 3,900 jobs, and
local government educational services, adding 1,500. Decreases took place
in leisure/hospitality, down 4,900 jobs, and professional/business services,
ATTENTION: October 2004 County and MSA rates will be released at 1:30 p.m. on Wednesday, November 24, 2004.
NOTE: Information will be available on the Internet: enter www.tennessee.gov/labor-wfd/labor_figures
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.
ANDREW JOHNSON TOWER, 8TH FLOOR