Tennessee August unemployment rate ticks up from record-low

Tennessee’s August unemployment rate ticked up slightly after three months of record-low unemployment. August recorded a 3.1% rate, up from the rate of 3% posted in May, June, and July. In a year-to-year comparison, Tennessee’s unemployment rate decreased two-tenths of a percentage point, from 3.3% to 3.1%. Between July and August 2024, total nonfarm employment across the state decreased by 1,400 jobs. The largest decrease was in the mining, logging, and construction sector, followed by the trade, transportation, and utilities sector and the leisure and hospitality sector. Despite the increase in the unemployment rate over the last month, Tennessee’s rate is still well below the national rate of 4.2%. The U.S. rate decreased one-tenth of a percentage point, from 4.3% in July.