TENNESSEES UNEMPLOYMENT RATE FOR MAY INCREASES SLIGHTLY - MAY RATE TWO PERCENTAGE POINTS LOWER THAN YEAR AGO NASHVILLE – Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today the Tennessee preliminary unemployment rate for May is 6.4%, a tenth of one percentage point higher than the 6.3% April revised rate. The U.S. preliminary rate for May is 6.3%, same as the U.S. April revised rate. Economic Summary: Over the past year, Tennessees unemployment rate decreased from 8.4% to 6.4% while the national rate decreased from 7.5% to 6.3%. Total nonfarm employment increased 6,700 jobs from April to May. The largest increases occurred in leisure/hospitality, retail trade, and local government. Over the year, nonfarm employment increased 56,900 jobs. The largest increases occurred in professional/business services, leisure/hospitality, and trade/transportation/utilities.
Posted on: Thu, 19 Jun 2014 18:54:38 +0000
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