octoBER UNEMPLOYMENT RATE 4.6 PERCENT
Rate Declines from 5.1 Percent in 2006
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for October was 4.6 percent, down 0.1 percentage point from September. The national unemployment rate for October 2007 was 4.7 percent, the same as September.
“The unemployment rate for October was 4.6 percent, down from the September rate of 4.7,” said Commissioner Neeley. “We have seen Tennessee’s jobless rate decline over the past year from 5.1 percent in October 2006. It’s encouraging to see Tennessee’s construction sector, primarily non-residential, continuing to operate in positive numbers increasing by 7,400 hundred jobs from a year ago.”
September-to-October gains were seasonal, with local government increasing 1,400; professional, scientific and technical services employment increased 1,000; and retail trade increased 900. Month-to-month declines included leisure and hospitality, down 5,900, and slight decreases in durable goods manufacturing, down 900.
The leisure and hospitality sector led the over the year increases, with gains of 8,100 jobs. Construction employment increased by 7,400; and educational and health services jobs were up 6,700. Manufacturing jobs were down from a year ago with employment decreasing by 7,400; clothing and accessories stores lost 1,800 jobs; and professional and business services employment declined by 1,600.
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