State unemployment holds steady at historic low

NASHVILLE — Tennessee continues to experience record-low unemployment, according to data released by the Department of Labor and Workforce Development (TDLWD). The rate for June came in at 3%, which was unchanged from the all-time low unemployment rate the state recorded in May.

In a year-to-year comparison, Tennessee’s June 2024 seasonally adjusted unemployment rate decreased by 0.1 of a percentage point.

Employers added new jobs to Tennessee’s workforce between May and June and increased nonfarm employment by 400 jobs. The mining, logging, and construction sector and the education and health services sector had the biggest gains in employment. The manufacturing sector also added a sizable number of new positions during the month.

Over the year, nonfarm employment did decrease across the state by 5,900 jobs. The administrative, support, and waste services sector saw the largest dip in employment. The real estate, rental, and leasing sector experienced the next largest decrease, followed by the non-durable goods manufacturing sector.

The state of Tennessee will release the June 2024 county unemployment data on Thursday, July 25, 2024.

Nationally, the seasonally adjusted unemployment rate inched up in June from 4% to 4.1%. The rate is 0.5 of a percentage point higher than it was in June 2023.