Tennessee's Unemployment Rate for August Increased To 7.4%
NASHVILLE – Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today the Tennessee preliminary unemployment rate for August was 7.4 percent, three tenths of one percentage point higher than the 7.1 July revised rate. The U.S. preliminary rate for August was 6.1 percent, down from 6.2 percent in July.
Economic Summary
- Over the past year, Tennessee's unemployment rate decreased from 8.4 percent to 7.4 percent while the national rate declined from 7.2 percent to 6.1 percent.
- Total nonfarm employment increased 6,700 jobs from July to August. The largest increases occurred in accommodation/food services, administrative/support/waste services, and durable goods manufacturing.
- Over the year, nonfarm employment increased 59,000 jobs. The largest increases occurred in professional/business services, leisure/hospitality, and trade/transportation/utilities.
Seasonally Adjusted Nonfarm Employment – Business Survey | |||||
(Numbers in thousands) | August 2013 | Revised July 2014 | Preliminary August 2014 | Change from Aug. 2013 to Aug 2014 | Change from Aug. 2014 |
Total Nonfarm | 2,751.2 | 2,803.5 | 2,810.2 | 59.0 | 6.7 |
Mining/logging/construction | 107.5 | 114.1 | 114.5 | 7.0 | 0.4 |
Manufacturing | 318.4 | 322.1 | 324.0 | 5.6 | 1.9 |
Trade/transportation/utilities | 583.0 | 594.6 | 594.9 | 11.9 | 0.3 |
Information | 44.0 | 43.1 | 42.7 | -1.3 | -0.4 |
Financial activities | 138.0 | 139.6 | 140.5 | 2.5 | 0.9 |
Professional/business services | 352.5 | 369.9 | 371.8 | 19.3 | 1.9 |
Educational services | 49.2 | 49.9 | 47.9 | -1.3 | -2.0 |
Health care/social assistance | 345.5 | 350.1 | 351.2 | 5.7 | 1.1 |
Leisure/hospitality | 287.4 | 298.0 | 301.3 | 13.9 | 3.3 |
Government | 420.0 | 415.3 | 413.3 | -6.7 | -2.0 |
For a schedule of media release dates, please visit http://www.tn.gov/labor-wfd/news/tfs.shtml.
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