State Unemployment Rate Decreases One-Tenth Of A Percentage Point

Nashville, TN – Tennessee Commissioner of Labor and Workforce Development Karla Davis announced yesterday that Tennessee’s unemployment rate for October decreased to 8.2 percent, down from the September revised rate of 8.3 percent. The national unemployment rate for October 2012 was 7.9 percent, 0.1 percentage point higher than the September rate.

Economic Summary:

• Tennessee’s October unemployment rate is the lowest rate since June.
• Over the past year, Tennessee’s unemployment rate declined from 8.9% to 8.2% (-0.7 percentage point), while the national rate declined from 8.9% to 7.9% (-1.0 percentage point).
• Total nonfarm employment increased 7,500 jobs from September to October, with increases in leisure/hospitality and professional/business services. There were declines in government and mining/logging/construction.
• Over the year, nonfarm jobs increased 24,800, with increases in manufacturing and education/health services. There were declines in wholesale trade and financial activities.