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Tennessee's unemployment is lowest in 5 years

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NASHVILLE – Tennessee Commissioner of Labor and Workforce Development Karla Davis announced Friday the state unemployment rate for December 2012 was 7.6 percent and remained constant from the November revised rate of 7.6 percent.

The national unemployment rate for December 2012 was 7.8 percent, also unchanged from the previous month.

Economic summary:

• Tennessee's December unemployment rate remained constant at 7.6 percent and is the lowest Tennessee unemployment rate since October 2008.

• The number of unemployed persons (235,700) is the lowest since October 2008.

• The number of employed persons (2,879,600) is the highest since March 2008.

• Over the past year, Tennessee's unemployment rate declined from 8.5 percent to 7.6 percent (-0.9 percentage point) while the national rate declined from 8.5 percent to 7.8 percent (-0.7 percentage point).

• Total nonfarm employment increased 6,000 jobs from November to December, with increases in leisure/hospitality, manufacturing, and mining/logging/construction. There were decreases in administrative, support and waste services, as well as retail trade and state government.

• Over the year, total nonfarm employment increased 36,400 jobs, with increases in manufacturing, health care/social assistance, and accommodation/food services. There were decreases in wholesale trade, financial activities, and arts/entertainment/recreation.

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Business, Economy, Jobs, Karla Davis, Labor and Workforce Development, Tennessee, Unemployment
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