February 2018 Statewide Unemployment One Percentage Point Lower than 2017
NASHVILLE – Tennessee Gov. Bill Haslam and Department of Labor and Workforce Development Commissioner Burns Phillips this week announced statewide unemployment remained near historic low levels in February with the preliminary rate at 3.4 percent.
February’s rate is up just 0.1 of a percentage point from January’s revised rate of 3.3 percent. Over the past 12 months, Tennessee’s seasonally adjusted unemployment rate decreased a full percentage point from 4.4 percent to 3.4 percent and remains less than the national average of 4.1 percent.
“Our consistent near-record low unemployment rate demonstrates that Tennessee’s fiscal conservative policies foster an environment where businesses can thrive and create jobs,” Haslam said. “As we continue to invest in our workforce though the Tennessee Promise and Tennessee Reconnect programs, Tennessee will lead in high-quality job growth.”
“The state of Tennessee works every day, with both employers and job seekers, to ensure there are jobs opportunities available across the state and there is a qualified workforce to fill those positions.” Phillips said. “This is one of the main reasons companies decide to locate or expand in Tennessee.”
The statewide unemployment rate is seasonally adjusted to eliminate the influences of weather, holidays, the opening and closing of schools and other recurring seasonal events from an economic time series.
Tennesseans can access the latest job openings across the state, as well as job interview preparation information, on the state’s workforce website.
A complete analysis of the February 2018 statewide unemployment statistics can be found here.
The state will release county unemployment statistics for February 2018 on Thursday, March 29, 2018 at 1:30 p.m. CDT.