Posted by: Commissioner Rolfe
Tennessee’s jobless rate fell to 3.3 percent in August from 3.4 percent in July. It’s the third consecutive month Tennessee has hit a record low in unemployment rate and Tennessee now has the lowest unemployment among the dozen states in the Southeast.
The better news? The jobless rate declined in all 95 Tennessee counties in August. And in many rural counties, which often have the highest unemployment rates in the state, the jobless rate has plummeted significantly.
Year-over-year, the jobless rate in Tennessee has fallen by 1.5 percentage points from 4.8 percent last August to 3.3 percent. During the past year, Tennessee has gained 52,200 net new jobs, according to the U.S. Bureau of Labor Statistics.
Per capita personal income in Tennessee continues to climb higher. And even as Tennessee moves forward with new higher education initiatives like Tennessee Reconnect and Tennessee Promise, there’s positive news for our future workforce: Graduation rates statewide also hit record highs this past school year.
All of this signals to the strengths of Tennessee’s economy.