October statewide unemployment rate holds steady at record-breaking 3.0 percent
NASHVILLE – Tennessee Gov. Bill Haslam and Department of Labor and Workforce Development Commissioner Burns Phillips today announced that for the fifth month in a row, the state’s seasonally adjusted unemployment rate is lower than it has been in recorded history.
The state unemployment rate for October 2017 held steady at 3.0 percent, matching the historically low rate set in September. Tennessee first marked an all-time low unemployment rate in June at 3.6 percent, which was bested by the July rate of 3.4 percent, and then in August fell to 3.3 percent.
“We have focused on bringing high-quality jobs to Tennessee and have attracted companies and jobs that provide strong wages that will evolve as the economy changes,” Haslam said. “We have focused on recruiting companies that will invest in Tennessee for the long-term and create lasting economic change in our communities, and our record low unemployment rate over the last five months reflects that.”
Tennessee’s October 2017 unemployment rate is two percentage points lower than it was one year ago and continues to outpace the national average, which currently sits at 4.1 percent.
“Tennessee’s employment rate continues to be one of the lowest in the nation,” Phillips said. “Month, after month, we continue to see the economic climate in Tennessee is helping build a solid workforce in every corner of the state and that our investment in education and workforce development is paying off.”
An economic analysis of unemployment statistics, including the monthly statewide rates going back to 2006 can be found here.
More information on the unemployment rate, labor force and resources to help Tennesseans find jobs is available on Jobs4TN.gov.
The county unemployment rates for October 2017 will be published on Wednesday, November 22 at 1:30 p.m. CST.