TN February unemployment rate 3.4 percent

Press release from Department of Labor and Workforce Development

NASHVILLE – Tennessee Gov. Bill Haslam and Department of Labor and Workforce Development Commissioner Burns Phillips today 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.

2 Responses to TN February unemployment rate 3.4 percent

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    Tommy Ray McAnally says:

    When you say unemployment do mean less people are drawing unemployment benefits or more people are working?

    • Tom Humphrey
      Tom Humphrey says:

      The unemployment rate is basically the percentage of people who want a job and are able to work, but don’t have a job. If they were laid off by closing factory or somesuch, they are eligible for unemployment benefits until they get a new position (or until the designated benefit period ends).

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