Tennessee’s statewide unemployment rate decreased for the second consecutive month in July to 4.7%, a drop of 0.2 of a percentage point from June’s revised rate of 4.9%. Tennessee’s unemployment rate has been at 5.1%, or lower, for the last seven months. In March 2020, the last month before COVID-19 business closures impacted the economy, Tennessee’s unemployment rate was 4%.
Nationally, seasonally adjusted unemployment dropped 0.5 of a percentage point to 5.4%. One year ago, the United States unemployment rate was 10.2%.