Tennessee’s seasonally adjusted unemployment rate remained unchanged at 3.5% in May, continuing to outperform the national rate, according to new data released by the Tennessee Department of Labor and Workforce Development (TDLWD).
The state’s jobless rate has held steady since April and remains below the national unemployment rate, which climbed slightly to 4.2% in May. Compared to a year ago, Tennessee’s rate has increased slightly from 3.2%, while the national rate was 4% in May 2023.
While specific county-level unemployment figures for May are not yet available, recent data from April showed strong employment trends in Rutherford County and its municipalities. Rutherford County recorded a low unemployment rate of 2.3% in April—down 0.3 percentage points from March. The cities of Murfreesboro and LaVergne both reported unemployment rates of 2.4% in April, a 0.4-point drop from March’s 2.8%. Smyrna also posted a 0.2-point decrease, tying with Murfreesboro and LaVergne at 2.4%.
Statewide, Tennessee employers added 16,900 nonfarm jobs over the past 12 months, with the largest growth seen in the Leisure and Hospitality sector, Government, and Education and Health Services.
However, the state did see a month-over-month decline of 1,800 nonfarm jobs between April and May. The largest decreases occurred in the Professional and Business Services sector, followed by the Financial Activities and Trade, Transportation, and Utilities sectors.
A full breakdown and analysis of the May unemployment data that shows county-by-county figures will be available next week. WGNS will update this story as soon as those numbers are released.