For the third consecutive month, the unemployment rate across the state has remained at a historic low of 3%, as reported by the Department of Labor and Workforce Development (TDLWD). This remarkable achievement first occurred in May, when the state recorded its lowest seasonally adjusted unemployment rate, and it has consistently maintained this level since then. Over the past year, Tennessee has seen a decrease in its unemployment rate, dropping from 3.2% to the current 3%, reflecting a decline of 0.2 percentage points.
In terms of job creation, employers throughout the state added 2,000 new nonfarm positions between the months of June and July. The construction industry played a significant role in this growth, contributing the majority of the new jobs. Following closely behind, the health care and social assistance sector also demonstrated notable job expansion, while the wholesale trade sector rounded out the list of areas experiencing growth in employment.