Tennessee October unemployment steady at 3.3%

Tennessee’s October unemployment rate remained near its all-time low and well below the U.S. rate, according to the latest data from the Tennessee Department of Labor and Workforce Development (TDLWD). The state’s seasonally adjusted unemployment rate was 3.3% in October, an increase of one-tenth of a percentage point over the previous month. Despite the uptick, Tennessee’s rate is eight-tenths of a percentage point below the national rate of 4.1%. Earlier this year, Tennessee recorded a rate of 3% — its lowest ever — three months in a row. The state’s October rate of 3.3% is two-tenths of a percentage point lower than its rate in October 2023. The U.S. rate of 4.1% held steady from the month before and is three-tenths of a percentage point higher than it was in October 2023. Between September and October 2024, Tennessee employers added 2,600 nonfarm jobs. The largest increase was in the education and health services sector. The government and manufacturing sectors accounted for the next-largest increases.