Tennessee unemployment remains at record low for third month

Tennessee’s July unemployment rate remained at a record-low of 3% for the third consecutive month. According to new data from the Department of Labor and Workforce Development (TDLWD), employers across the state added 2,000 new nonfarm jobs to their payrolls between June and July. The construction sector accounted for most of the new jobs. The healthcare and social assistance sector was responsible for the next highest amount of job growth, followed by the wholesale trade sector. Inthe past year, Tennessee’s statewide unemployment rate dropped 0.2 of a percentage point, from 3.2% to 3%. Comparing year-to-year job growth, Tennessee has 22,600 additional nonfarm jobs. The largest increase in employment was in the education and health services sector, followed by the mining, logging, and construction sector, and then the trade, transportation, and utilities sector. Unlike Tennessee and its record-low unemployment, the nationwide rate increased during July. Seasonally adjusted unemployment grew by 0.2 of a percentage point to 4.3% across the United States.