February Unemployment Rate 7.8 Percent

TENNESSEE GAINS 11,400 JOBS FROM JANUARY TO FEBUARY

NASHVILLE – Tennessee Labor & Workforce Development Interim Commissioner Burns Phillips announced today Tennessee’s unemployment rate for February was 7.8 percent, which increased one tenth of one percentage point from the January revised rate of 7.7 percent. The national unemployment rate for February 2013 was 7.7 percent, decreasing by two tenths of one percent from the previous month.

Economic Summary:
• Tennessee’s February unemployment rate of 7.8 percent is the lowest February rate since 2008.
• Over the past year, Tennessee’s unemployment rate declined from 8.0 percent to 7.8 percent.
• Total nonfarm employment increased 11,400 jobs from January to February (seasonally adjusted). Increases occurred in professional/business services, leisure/hospitality, and manufacturing.
Total nonfarm employment increased 58,400 jobs from February 2012 to February 2013 (seasonally adjusted). Increases occurred in professional/business services, trade/transportation/utilities, and leisure/hospitality.