Tennessee Labor & Workforce Development Commissioner Burns Phillips announced Thursday that the Tennessee preliminary unemployment rate for March was 6.3 percent, three-tenths of one percentage point lower than the February revised rate of 6.6 percent. The U.S. preliminary rate for March was 5.5 percent, unchanged from the prior month.
Economic Summary
· Over the past year, Tennessee's unemployment rate declined from 6.4 percent to 6.3 percent while the national rate declined from 6.6 percent to 5.5 percent.
· Total nonfarm employment decreased 4,400 jobs from February to March. The largest decreases occurred in accommodation/food services, trade/transportation/utilities, and mining/logging/construction.
· Over the year, nonfarm employment increased 49,300 jobs. The largest increases occurred in trade/transportation/utilities, professional/business services, and education/health services.