August unemployment rate drops

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NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for August was 9.6 percent, down one-tenth of a percentage point from the revised July rate of 9.7 percent. The August 2009 rate was 10.9 percent. The national unemployment rate for August 2010 was 9.6 percent, up from the July rate of 9.5 percent.

“Though unemployment rates remain unusually high, August is the first time since April 2007 that Tennessee has equaled the national rate,” reports Labor Commissioner James Neeley.  “Employment levels both from July to August and year over year in Tennessee are positive and outperforming the rest of the nation.”

Major Changes in Estimated Nonagricultural Employment
July 2010 to August 2010

According to the Business Survey, local government educational services increased by 14,100; professional and business services increased by 3,600; and healthcare and social assistance increased by 2,000. Major employment decreases occurred in federal government, down by 2,400; transportation and warehousing declined by 700; and arts, entertainment and recreation declined by 700 jobs.

Major Changes in Estimated Nonagricultural Employment
August 2009 to August 2010

Year-over-year increases occurred in professional and business services, up by 11,800; health care and social assistance gained 6,200; and retail trade was up by 4,500. Year-over-year decreases occurred in transportation and warehousing, down by 6,400; mining/construction lost 5,200; and accommodation and food services decreased by 4,600.
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Economy, James Neeley, State, Unemployment
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