May Unemployment Rate 7.9 Percent
STATE UNEMPLOYMENT RATE INCREASES WITH LARGER LABOR FORCE
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for May increased to 7.9 percent, up from the April revised rate of 7.7 percent. The national unemployment rate for May 2012 was 8.2 percent, 0.1 percentage point higher than the April rate.
"Tennessee’s employment change this month is relatively flat with a slight increase in the amount of people reentering the workforce to look for work,” said Commissioner Davis. “Even though the unemployment rate had a slight increase, it is the first increase we have seen since November 2010.”
Economic Summary:
- The April unemployment rate was revised down 0.1 percentage point to 7.7% from 7.8%
- Employment, unemployment, and the labor force increased in May
- Total nonfarm employment decreased 1,700 jobs from April to May
- Over the year we have seen an increase of 39,100 jobs.
|
Seasonally Adjusted Nonfarm Employment – Business Survey |
|||||
|
(Numbers in thousands) |
May 2011 |
Revised Apr. 2012 |
Preliminary May 2012 |
Change from May 2011 to May 2012 |
Change from Apr. 2012 to May 2012 |
|
Total Nonfarm |
2,655.8 |
2,696.6 |
2,694.9 |
39.1 |
-1.7 |
|
Mining/logging/construction |
108.8 |
113.6 |
114.8 |
6.0 |
1.2 |
|
Manufacturing |
304.1 |
311.6 |
311.4 |
7.3 |
-0.2 |
|
Trade/transportation/utilities |
562.1 |
558.6 |
557.9 |
-4.2 |
-0.7 |
|
Information |
44.2 |
44.1 |
43.8 |
-0.4 |
-0.3 |
|
Financial activities |
135.1 |
135.3 |
134.5 |
-0.6 |
-0.8 |
|
Professional/business services |
318.8 |
327.7 |
327.4 |
8.6 |
-0.3 |
|
Education/health services |
382.0 |
389.2 |
390.7 |
8.7 |
1.5 |
|
Leisure/hospitality |
266.6 |
271.9 |
270.0 |
3.4 |
-1.9 |
|
Other services |
101.7 |
102.0 |
101.6 |
-0.1 |
0.4 |
|
Government |
432.4 |
442.6 |
442.8 |
10.4 |
0.2 |
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