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State unemployment rate remains near historic low levels

Staff Reports • Updated Mar 29, 2018 at 9:00 AM

Gov. Bill Haslam and Burns Phillips, Department of Labor and Workforce Development commissioner, announced last week statewide unemployment remained near historic low levels in February with the preliminary rate at 3.4 percent.

February’s rate is up just 0.1 percent from January’s revised rate of 3.3 percent. Tennessee’s seasonally adjusted unemployment rate decreased a full percentage point in the last year from 4.4 percent to 3.4 percent and remained less than the national average of 4.1 percent.

“Our consistent near-record low unemployment rate demonstrates that Tennessee’s fiscal conservative policies foster an environment where businesses can thrive and create jobs,” Haslam said. “As we continue to invest in our workforce though the Tennessee Promise and Tennessee Reconnect programs, Tennessee will lead in high-quality job growth.”

“The state of Tennessee works every day, with both employers and job seekers, to ensure there are jobs opportunities available across the state and there is a qualified workforce to fill those positions.” Phillips said. “This is one of the main reasons companies decide to locate or expand in Tennessee.”

The statewide unemployment rate is seasonally adjusted to eliminate the influences of weather, holidays, the opening and closing of schools and other recurring seasonal events from an economic time series.

The state will release county unemployment statistics for February on Thursday. 

 

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