Tennessee Unemployment Rate Is Still Well Below U.S. Rate

NASHVILLE – Tennessee’s unemployment rate remains near its all-time low and well below the U.S. rate, according to the latest data from the Tennessee Department of Labor and Workforce Development (TDLWD).

The state’s seasonally adjusted unemployment rate was 3.3% in October, an increase of one-tenth of a percentage point over the previous month. Despite the uptick, Tennessee’s rate is eight-tenths of a percentage point below the national rate of 4.1%.

Earlier this year, Tennessee recorded a rate of 3% — its lowest ever — three months in a row.

The state’s October rate of 3.3% is two-tenths of a percentage point lower than its rate in October 2023. The U.S. rate of 4.1% held steady from the month before and is three-tenths of a percentage point higher than it was in October 2023.

Between September and October 2024, Tennessee employers added 2,600 nonfarm jobs. The largest increase was in the education and health services sector. The government and manufacturing sectors accounted for the next-largest increases.

Over the past year, total nonfarm employment across the state increased by 45,200 jobs. The education and health services sector accounted for the biggest gains, followed by the trade, transportation, and utilities sector and the mining, logging, and construction sector.

TDLWD has prepared a complete analysis of the state’s October 2024 unemployment data that is available here.

November 17-23 is National Apprenticeship Week. Tennessee is celebrating all month long with conferences and events.

The proven earn-and learn model allows apprentices to collect a paycheck from day one while growing their skills through on-the-job training and related education. Employers, meanwhile, gain qualified, productive workers who tend to stay on long after completing their apprenticeships. Tennessee currently has more than 9,500 apprentices and 431 active programs. More information about becoming an apprentice or starting a registered apprenticeship program is available here.

The state of Tennessee will release county unemployment data on Thursday, November 21, at 1:30 p.m. CST.