Unemployment rate in Tennessee remains constant in August
In the heart of the South, Tennessee is experiencing a surge in employment and wage growth, according to recent data.
The state added a notable 34,400 jobs over the past year, with the unemployment rate standing at 3.6% in August. This is a significant improvement from the same period last year, indicating a robust economy.
The job growth is spread across various sectors. The retail trade industry, construction, leisure and hospitality, professional and business services, and the transportation, warehousing, and utilities sectors all saw an increase in employment during this period.
The construction industry and the transportation, warehousing, and utilities sector had particularly significant job gains in August alone, with 9,500 jobs added between the months.
The average hourly wage in Tennessee also saw a small but noticeable increase. Between July and August, the average hourly wage increased by 10 cents, reaching an average of $10.03 per hour. However, it's worth noting that nationally, the average hourly wage decreased by nine cents during the same period.
Tennesseans' average weekly earnings also increased, rising by $3.38 from July to August, reaching $1,018.03. On a national level, weekly earnings increased by $2.10 during the same period.
Interestingly, the government sector has seen the most job growth in Tennessee over the past year. Despite this, the sector that experienced the largest growth in employment between July and August, measured by the number of new hires, remains undetermined from the search results.
This positive trend in Tennessee's jobs is a promising sign for the state's economy and its residents. As the state continues to grow and evolve, it will be interesting to see how these trends develop in the coming months.
