Unemployment hits another all-time low in Tennessee


Unemployment hits another all-time low in Tennessee

TENNESSEE DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT

Tennessee Department of Labor and Workforce Development Commissioner Burns Phillips on Thursday announced a preliminary unemployment rate of 3.3 percent for August, declining one-tenth of a percent from the previous month.

This marks an all-time low for the statewide unemployment rate and August is the seventh consecutive month Tennessee has seen a decline in the statistic.

“To see the unemployment rate decrease nearly every month in 2017 is a positive sign,” said Commissioner Phillips. “It shows we are experiencing growth in the state and that the Governor’s programs aimed at spurring that growth are working.”

While Tennessee’s latest unemployment rate dropped one-tenth of a percent from July’s 3.4 percent, the national unemployment rate increased from 4.3 to 4.4 percent. Over the past year, the state and national rates have declined by 1.5 and five-tenths of a percentage point, respectively.

“The fact Tennessee’s unemployment rate has dropped three times as fast as the national unemployment rate is remarkable,” Commissioner Phillips noted. “That decline proves Tennessee is a great place to operate a business, to work and to raise a family.”

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