Tennessee records newest record-low unemployment rate

Tennessee’s state-wide unemployment rate reached a historic, new record-low in May. The Tennessee Department of Labor and Workforce Development (TDLWD) decreased to 3% in May, the lowest rate the state has recorded since the federal government began tracking data in 1976. The rate was a 0.1% decrease from April, which had tied with four months in 2023 for the previously lowest unemployment rate at 3.1%. Tennessee employers created 3,300 new nonfarm jobs between April and May. The accommodation and food services sector was responsible for most of those new jobs. The professional, scientific, and technical services sector was the next top job creator in May, followed by the healthcare and social assistance sector.