OCTOBER UNEMPLOYMENT RATE 4.5 PERCENT
RATE DECREASES 1.1 PERCENTAGE POINTS FROM 2005
NASHVILLE - Tennessee’s unemployment rate for the month of October is 4.5 percent, down from the seasonally adjusted September rate of 4.6 percent, Commissioner of Labor & Workforce Development James Neeley announced today. The national unemployment rate for October is 4.4 percent, down from the September rate of 4.6.
“ Tennessee’s unemployment rate has improved considerably from where we were a year ago,” said Commissioner Neeley. “The rate has decreased 1.1 percentage points from October 2005. This continues to show the strong, steady growth we’ve been seeing all year.”
The September-to-October business survey shows employment increases in trade, transportation, and utilities employment, up 6,600 jobs. Employment in administrative, support and waste services also increased by 5,200 and local government educational services employment increased 4,400 jobs. Seasonal month-to-month employment decreases took place in leisure/hospitality with 5,600 jobs lost. Manufacturing lost 4,900 jobs and construction decreased by 2,600 jobs.
From October 2005 to October 2006, trade/transportation/utilities jobs increased by 10,000. Jobs in leisure and hospitality rose by 8,700 and educational and health services jobs increased by 7,400. Employment decreased in manufacturing by 8,200, food and beverage stores by 1,500 and administrative/support/waste services jobs by 1,200.