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Unemployment Rate Drops Slightly in Tennessee

Tennessee’s statewide unemployment rate dropped for the second consecutive month in March, according to new data from the Department of Labor and Workforce Development. The seasonally adjusted rate for the month was 3.2%, 0.1 percentage points lower than February’s rate of 3.3%.

Tennessee’s all-time low unemployment rate is 3.1%, which the state recorded during three months in 2023.

Between February and March, 10,600 nonfarm workers started new jobs across the state. The leisure and hospitality sectors created most of those new jobs, followed by education, health services, and manufacturing.

In a year-to-year comparison, Tennessee’s latest jobless rate of 3.2% mirrors the state’s rate from March 2023.

Over the year, Tennessee employers added 16,700 nonfarm positions to the state’s workforce. During the last 12 months, the education and health services sector saw the biggest increase in new jobs. The leisure and hospitality sector added the next largest number of jobs, followed by the other services sector.