October Unemployment Rate 7.0 Percent

Thursday, November 20, 2008 | 01:30 pm

 Rate Down 0.2 Percentage Point from September

NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for October was 7.0 percent, down 0.2 percentage point from the September rate of 7.2. The October rate a year ago was 5.0 percent. The national unemployment rate for October 2008 was 6.5 percent, up from the September rate of 6.1.
 “Since September we’ve seen a slight gain in employment along with declines in the labor force causing the rate to fall slightly,” said Commissioner Neeley. “From 2007, however, we are still seeing broad job losses and expect the unemployment rate to continue the slow pattern of moving upward.”
The business survey shows September-to-October gains in local government educational services employment, increasing by 2,800; private educational services added 800 jobs; and hospital employment increased by 600. Seasonal declines included leisure and hospitality, losing 6,100 jobs; manufacturing lost 3,100; and construction employment decreased by 2,000.
From October 2007 to October 2008, educational and health services added 6,300 jobs; local government employment increased by 3,600. From 2007 manufacturing was down by 10,900; leisure and hospitality lost 6,500 jobs; professional and business services lost 6,500.
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