November Unemployment Rate 6.9 PercentThursday, December 18, 2008 | 01:20 pm
Rate Down 0.1 Percentage Point from October
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development James Neeley announced today Tennessee’s unemployment rate for November was 6.9 percent, down 0.1 percentage point from the October rate of 7.0 percent. The November rate a year ago was 5.0. The national unemployment rate for November 2008 was 6.7 percent, up from the October rate of 6.5.
“This month we have seen a decline in the labor force, causing the unemployment rate to drop slightly,” said Commissioner Neeley. “Despite the slight decrease in the unemployment rate, most sectors of employment in Tennessee are showing job loss.”
October-to-November job gains occurred in trade, transportation and utilities, increasing by 8,800; professional and business services added 4,000 jobs; health care and social assistance employment increased by 1,000. Declines included manufacturing, losing 2,400 jobs; leisure and hospitality lost 2,000; and construction, natural resources and mining employment decreased by 1,100.
From November 2007 to November 2008, educational and health services added 6,000 jobs; local government employment increased by 1,500. From November 2007 manufacturing was down by 12,200; professional and business services lost 8,200 jobs; leisure and hospitality lost 6,800.
-# # #-