While county-by-county unemployment numbers have not been released for the month of March, overall numbers that focus on the state as a whole are available. Looking across Tennessee, the statewide unemployment rate proved to have dropped for the second consecutive month when comparing February and March, according to new data from the Department of Labor and Workforce Development. The seasonally adjusted rate for the month came in at 3.2%, 0.1 of a percentage point lower than February’s rate of 3.3%.
Tennessee’s all-time low unemployment rate is 3.1%, which the state recorded during three months in 2023.
Between February and March, 10,600 nonfarm workers started new jobs across the state. The leisure and hospitality sector created most of those new jobs, followed by the education and health services sector, and then the manufacturing sector.
In a year-to-year comparison, Tennessee’s latest jobless rate of 3.2% mirrors the state’s rate from March 2023.
Over the year, Tennessee employers added 16,700 nonfarm positions to the state’s workforce. During the last 12 months, the education and health services sector saw the biggest increase in new jobs. The leisure and hospitality sector added the next largest number of jobs, followed by the other services sector.
A complete analysis of the March 2024 unemployment data is available here.
Across the nation, seasonally adjusted unemployment dropped by 0.1 of a percentage point in March, from 3.9% to 3.8%.
As the end of the school year nears in districts across the state, TDLWD encourages employers to take part in the Tennessee Youth Employment Program, or YEP. A participating employer can help guide the career exploration of a young person between the ages of 14 and 24. While youth receive on-the-job experience, employers get a chance to bolster their workforce without paying any wages or administrative costs. More information about becoming a participating employer is available here.
The state of Tennessee will release the county unemployment data for March of 2024 by the end of next week. In the meantime, you can see county-by-county numbers for February HERE.
