In July, Tennessee experienced a slight increase in its unemployment rate, although it continues to remain significantly lower than the national average, as reported by the Tennessee Department of Labor and Workforce Development. The state’s seasonally adjusted unemployment rate rose to 3.6% last month, marking an increase of one-tenth of a percentage point from June’s figure of 3.5%. Additionally, this rate is two-tenths of a percentage point higher than the 3.4% recorded in July 2022. In contrast, the national unemployment rate has remained unchanged at 4.2%, consistent with the same period last year.
Over the past year, Tennessee has seen the addition of 21,500 nonfarm jobs, with the government sector leading the way in job creation. Other sectors contributing to this growth include professional, scientific, and technical services, as well as leisure and hospitality. However, when examining month-to-month changes, the state experienced a decline of 900 jobs, primarily in private education and health services, leisure and hospitality, and nondurable goods manufacturing.
State officials have also pointed out the expansion of apprenticeship programs across Tennessee, which now boast over 9,500 participants and 470 active programs in fields that are in high demand. This earn-while-you-learn approach effectively combines paid on-the-job training with relevant educational components, allowing employers to cultivate a skilled workforce. For those interested in more detailed information, county-level unemployment statistics for July are set to be released on August 21 at 1:30 p.m. CDT.