Tennessee marks all-time low unemployment in July 2023

Tennessee recorded its lowest unemployment rate ever in July 2023 with a seasonally-adjusted rate of 3.1%. The rate is 0.1% lower than the previous historic, all-time low of 3.2%, a figure the state had reached again in June. The 3.1% rate is the lowest recorded since the federal government began tracking the statistic in 1976. The rate is also 0.2% lower than the rate for July 2022 and continues a streak of unemployment being at 3.5% or below since January 2022. The professional and business services sector saw the greatest month-to-month gain in July followed by the trade, transportation and utilities sector and the leisure and hospitality sector. More information on the state’s unemployment data is available here.