(Source: TN Department of Labor & Workforce Development)
NASHVILLE – Preliminary data from the Department of Labor and Workforce Development (TDLWD) indicated Tennessee’s unemployment rate for May 2022 increased slightly from April’s record-breaking number. The seasonally adjusted statewide rate for the month was 3.3%, 0.1 of a percentage point higher than the previous month’s revised figure.
The state’s civilian workforce also grew in May and reached a new high. The seasonally adjusted number for the month came in at 3,405,582, up from 3,388,428 in April. Tennessee also saw an increase in the number of citizens who were employed in May, up nearly 15,000 workers to 3,293,564. The state’s Labor Force Participation rate also surpassed 61% for the first time in over two years.
Nationally, the unemployment rate for the United States was unchanged in May, mirroring the seasonally adjusted April rate of 3.6%. That number does mark a decrease of 2.2 percentage points when compared to the May 2021 national unemployment rate.