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Tennessee’s Unemployment Rate for May 2015 Decreased to 5.8%

 

Tennessee Department of Labor and Workforce DevelopmentNashville, TN – Tennessee Labor and Workforce Development Commissioner Burns Phillips announced that the Tennessee preliminary unemployment rate for May was 5.8 percent, two-tenths of one percentage point lower than the April revised rate of 6.0 percent.

The U.S. preliminary rate for May was 5.5 percent, one-tenth of one percentage point higher than the prior month.

Labor Force Estimates for May, 2015.

Labor Force Estimates for May, 2015.

Economic Summary

  • Over the past year, Tennessee’s unemployment rate decreased from 6.5 percent to 5.8 percent while the national rate declined from 6.3 percent to 5.5 percent.
  • The number of unemployed persons is the lowest since March 2008.
  • Total nonfarm employment increased 10,000 jobs from April to May. The largest increases occurred in leisure/hospitality, education/health services, & trade/transportation/utilities.
  • Over the year, nonfarm employment increased 53,800 jobs. The largest increases occurred in trade/transportation/utilities, leisure/hospitality, and education/health services.

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