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Tennessee’s Statewide Unemployment Rate Holds Steady

Tennessee’s February 2023 unemployment remained unchanged at 3.5% for the fifth month in a row, according to the latest data released by the Department of Labor and Workforce Development.
 
The state’s seasonally adjusted jobless number has been at or below 3.5% since January 2022.
 
In a year-to-year comparison, the statewide unemployment rate is up 0.1 of a percentage point from 3.4% to 3.5%.
 
Tennessee employers continue to create new jobs, which has helped the state’s economy thrive. There were 4,800 new nonfarm jobs reported across the state in February. The leisure and hospitality sector accounted for the largest number of new jobs, followed by the professional and business services sector and the government sector.  
 
Between February 2022 and February 2023, Tennessee employers added 103,300 jobs to their payrolls. The leisure and hospitality sector businesses were responsible for the largest number of new jobs over the last year. The education and health services sector had the next largest year-to-year increase, followed by the professional and business services sector.

Job seekers in Tennessee looking for new employment, an opportunity to learn a new skill, or a pathway to earn a high school equivalency diploma can find helpful resources by logging onto TNWorkReady.com.

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