April Unemployment Rate Lowest in Six Years and Below National Rate
NASHVILLE - Tennessee’s unemployment rate for the month of April is 4.4 percent, down from the seasonally adjusted March 2007 rate of 4.7 percent, Commissioner of Labor & Workforce Development James Neeley announced today. The last time the unemployment rate was down to 4.4 percent was April of 2001. The national unemployment rate for April 2007 is 4.5 percent, up from the March rate of 4.4 percent.
“As the figures show Tennessee is doing well economically,” said Commissioner James Neeley. “The last time Tennessee was below the national unemployment rate was July of 2004. Tennessee’s steady economic growth over the last few years is beginning to show in the unemployment rate.”
The March-to-April business survey shows employment increases in leisure/hospitality, up 6,800 jobs; employment in construction increased 1,800 jobs and local government educational services employment increased by 1,700 jobs. Seasonal month-to-month employment decreases took place in general merchandise stores, down 900 jobs; employment in repair and maintenance decreased by 500, and printing and related support activities employment decreased by 300.
From April 2006 to April 2007, major employment increases occurred in leisure and hospitality jobs, up by 8,200. Jobs in construction rose by 8,100 and educational and health services jobs increased by 7,500. Employment decreased in textiles and apparel manufacturing by 1,700, furniture and related products decreased by 1,500, and transportation equipment manufacturing by 1,400.