NASHVILLE - Labor & Workforce Development Commissioner James Neeley announced today Tennessee's seasonally adjusted unemployment rate for August was 4.9 percent, down 1.1 percentage points from August 2003 when the rate registered 6.0 percent. The rate is up slightly from last month's rate of 4.5 percent. Tennessee remains below the U.S. rate for August, which was 5.4 percent.
"This month we are seeing decreases in private educational services and arts/entertainment/recreation, which is typical this time of year as summer ends and tourism slows," said Neeley. "The year-to-year drop in the rate is due to employment increases in trade/transportation/utilities, leisure/hospitality, and health care."
Major employment increases from month-to-month occurred in local government educational services, up 9,000 jobs. Administrative/waste service jobs increased by 4,500. Month-to-month seasonal decreases occurred in private educational services, losing 1,300 jobs for the month. Arts/entertainment/recreation employment dropped 500 jobs.
Year-to-year changes showed increases in trade/transportation/utilities, up 6,500 jobs, and leisure/hospitality, up 5,700. Decreases occurred in government, nondurable goods manufacturing, and information jobs, each down 800.
ATTENTION: August 2004 County and MSA rates will be released at 1:30 p.m. on Thursday, September 23, 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