July Unemployment Rate 8.4 Percent

STATE UNEMPLOYMENT RATE INCREASES FOR THIRD CONSECUTIVE MONTH

NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for July increased to 8.4 percent, up from the June revised rate of 8.1 percent. The national unemployment rate for July 2012 was 8.3 percent, 0.1 percentage point higher than the June rate.

Economic Summary:

• Tennessee’s July unemployment rate is the highest since December 2011, but is still 1.0 percentage point below one year ago
• Total nonfarm employment increased 6,400 jobs from June to July. There were increases in local government, education/health services, and durable goods manufacturing
• There were small declines this month in administrative/support/waste services
• Over the year, nonfarm employment increased 32,900 jobs, with increases in durable goods manufacturing, government, and health care/social assistance