Haslam Announces Lowest Unemployment Rate In State History

Tennessee Has Rate Of 3.6 Percent For June 2017

  • Thursday, July 20, 2017

Tennessee Governor Bill Haslam and Department of Labor and Workforce Development Commissioner Burns Phillips Thursday announced Tennessee’s unemployment rate for June 2017 was 3.6 percent, the lowest in Tennessee recorded history. 

The June 2017 preliminary seasonally adjusted rate surpasses the previous low of 3.7 percent from March 2000. The state has not experienced an unemployment rate below 4.0 percent since it was 3.9 percent in February 2001. 

“What’s truly exciting about today’s news is that this is a statewide story,” Governor Haslam said. “Today more than ever, businesses have a choice of where to grow or expand, and because of the policies this administration has put in place working with the General Assembly, we’re seeing the job growth that comes when businesses choose Tennessee.” 

June’s rate declines four-tenths of a percentage point from the May revised rate of 4.0 percent. Amid notable improvements in Tennessee’s unemployment rate, the national preliminary rate increases by one-tenth of a percentage point from the previous month to 4.4 percent, lingering in the 4.0 percentile. 

“When a state’s rate declines during a national uptick in unemployment, that’s something to note,” Commissioner Phillips said. “Just seven years ago more than 10 percent of Tennesseans were out of work. One of Governor Haslam’s top priorities has been to make Tennessee the best state in the southeast for high quality jobs. All indications point to that priority becoming a reality.” 

This month’s unemployment shift is largely due to declines in the seasonally adjusted labor force. Over the past year, Tennessee has led the decrease in seasonally adjusted unemployment rates, declining from 4.7 percent to the current 3.6 percent, while the national rate declined half a percentage point from 4.9 percent to 4.4 percent. 

Between May and June, the total nonfarm employment has increased by 5,900 jobs. The largest industry increases occurred in leisure/hospitality, trade/transportation/utilities, and mining/logging/construction. 

Nonfarm employment has increased by 59,300 jobs within a 12-month span. Industry increases were greatest in professional/business services, trade/transportation/utilities, and leisure/hospitality industries. 

The Economic Analysis and Labor Force Estimates are prepared by the Employment Security division’s labor market information specialists. The division reports metrics and contextual information as it relates to employment, income, and population in Tennessee. Labor force topics are narrated in monthly newsletters and additional resources are available on Jobs4TN.gov.

The county unemployment release for June 2017 will be published on Thursday, July 27, at 1:30 p.m. CT.
 

Business/Government
Rain Barrel Distribution Day Will Be May 4
  • 3/18/2024

The Chattanooga Stormwater Division announces its annual Rain Barrel Distribution Day will take place on Saturday, May 4, from 9 a.m.-1 p.m. at the Development Resource Center, 1250 Market St. ... more

February Tennessee Revenues Were Less Than Budget Estimates
  • 3/18/2024

Tennessee Department of Finance and Administration Commissioner Jim Bryson on Monday announced that February revenues were less than budgeted estimates. Overall February state revenues were $1.325 ... more

WCSO To Hold Awards And Recognition Ceremony March 20
  • 3/18/2024

The Walker County Sheriff’s Office will have an awards and recognition ceremony on Wednesday at 6:30 p.m. at the Walker County Civic Center, 10052 N. Highway 27 in Rock Spring. Civilian ... more