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Tennessee’s Statewide Unemployment Rate Drops to the Historic Low

Tennessee matched its all-time low unemployment rate in June, according to newly released data from the Department of Labor and Workforce Development (TDLWD). The seasonally adjusted rate for the month came in at 3.2%, the historic low that the state first reached prior to the pandemic in 2020.

For the previous two months, unemployment in Tennessee had held steady at 3.3%, but it dropped 0.1 of a percentage point in June to once again reach the all-time low number. The June 2023 rate of 3.2% mirrors the state’s rate from June 2022.

Tennessee employers continue to grow their workforce and Tennessee’s economy by adding 9,500 jobs between May and June. The Government sector saw the most month-to-month growth, followed by the Professional and Business Services sector, and then the Manufacturing sector.

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Between June 2022 and June 2023, employers created 84,600 new jobs across the state. The biggest gains came in the Education and Health Services sector. The Leisure and Hospitality sector saw the next largest year-to-year gains, followed by the Government sector.

Across the nation, seasonally adjusted unemployment also decreased in June. The new statistic of 3.6% is 0.1 of a percentage point lower when compared to the previous month. One year ago, the national rate was 3.6%.

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