March Unemployment Rate 7.9 Percent

Thursday, April 19, 2012 | 01:30 pm
State Unemployment Rate Drops for Eighth Consecutive Month
 
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for March fell to 7.9 percent, down from the February revised rate of 8.0 percent. The national unemployment rate for March 2012 was 8.2 percent, 0.1% percentage point lower than the February rate.
 
"Tennessee’s unemployment is the lowest since November 2008,” Commissioner Davis said. “The decline is attributed to losses in both employment and unemployment, but the number of unemployed declined at a faster rate, resulting in the net decrease in the state rate.”
 

Seasonally Adjusted Labor Force Estimates - Household Survey
 
Mar 2011
Revised
Feb 2012
Preliminary
March 2012
Change from March 2011 to March 2012
Change from Feb. 2012
to March 2012
Civilian Labor Force
3,134,300
3,123,400
3,109,400
(24,900)   -0.8%
(14,000) -0.4%
Employment
2,838,800
2,872,600
2,865,000
26,200     0.9%
(7,600) -0.3%
Unemployment
295,500
250,800
244,500
(51,000) -17.3%
(6,300) -2.5%
Unemployment Rate
9.4%
8.0%
7.9%
-1.5 percentage points
-0.1 percentage point


Tennessee’s state unemployment rate is derived from the following three sources of information: the Business Survey, the Household Survey, and unemployment claim information. Tennessee’s Household Survey is conducted by the Census Bureau and also contributes toward the national unemployment rate.
 

Seasonally Adjusted Nonfarm Employment – Business Survey
(Numbers in thousands)
Mar 2011
Revised
Feb 2012
Preliminary
March 2012
Change from March 2011 to March 2012
Change from Feb. 2012 to March 2012
Total Nonfarm
2,647.3
2,693.0
2,691.3
44.0
-1.7
Mining/logging/construction
106.8
115.2
114.9
8.1
-0.3
Manufacturing
303.2
307.9
309.3
6.1
1.4
Trade/transportation/utilities
559.6
558.1
557.1
-2.5
-1.0
Information
44.2
44.7
44.2
0.0
-0.5
Financial activities
135.3
135.7
135.7
0.4
0.0
Professional/business services
317.8
332.5
328.5
10.7
-4.0
Education/health services
382.2
389.2
388.4
6.2
-0.8
Leisure/hospitality
265.3
267.7
270.0
4.7
2.3
Other services
101.6
101.6
101.8
0.2
0.2
Government
431.3
440.4
441.4
10.1
1.0

 
 
 
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