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Tennessee unemployment rate drops to record-low 3%

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(The Center Square) – Tennessee reached 3% seasonally adjusted unemployment in May, a new low for the state since the statistic began to be tracked in 1976.

Tennessee’s rate is below the 4% nationally for May. Tennessee dropped from 3.1% in April.

“Tennessee’s booming economy and strategic investments in workforce development and job creation have set the standard for success nationwide,” Gov. Bill Lee said in a statement. “Now, we’re making history with record-low unemployment, ensuring Tennessee remains a beacon of opportunity, security, and freedom for all.”

The employment report from the Tennessee Department of Labor and Workforce Development said the state saw 3,300 additional jobs over the month and the number of nonfarm jobs increased by 8,000 over the past year.

Tennessee’s average weekly earnings dropped to $972.49 in May from $977.73 in April. The nationwide average of $1,125.26 weekly earnings in May was up from $1,120.15 in April.

“Our state’s robust economy has created so many great job opportunities for Tennesseans looking for work or for those who want to improve their employment situation,” TDLWD Commissioner Deniece Thomas said in a statement. “Tennessee has nearly 80 American Job Centers where career specialists can work with individuals to find their best path to new employment.”

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