Tennessee Unemployment Drops
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The Tennessee unemployment rate fell just slightly in July of this year mainly because a lot of Tennesseans have stopped looking for a job. Tennessee unemployment dropped to 10.7 percent in July of this year, down from the previous 10.8 percent in June. Let's take a closer look at the Tennessee unemployment numbers as they relate to our economy.
The Tennessee Department of Labor and Workforce Development reported an unemployment rate of 6.6 percent just over a year ago back in June of last year. In the months of June and July of 2009 the number of people looking for a job in Tennessee fell by nearly 15,000 or 0.5 percentage point. Digging even deeper into those frightening numbers, the amount of people in Tennessee unemployed fell by 11,600 and the amount of people employed in Tennessee fell by just over 3,000.
A recent report from the commission's Business Survey said, just over 900 jobs were added in wholesale trading; about 5,000 jobs in durable goods manufacturing; and nearly 1,300 state federal education related services. Educational and health services decreased by 2,200 jobs and waste services and support was down by around 1,500 jobs.
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Tennessee Unemployment in health care jumped up to 10,200; arts, and entertainment surged about 2,000; manufacturing dropped almost 40,000; transportation and utilities dropped 30,000; and mining and construction fell by nearly 28,000. The biggest year to year jump happened in local government which surged up by more than 12,000 jobs mainly due to over 10,000 Summer Youth Program employees, paid for by the American Recovery and Reinvestment Act.
Keeping a close eye on the Tennessee unemployment rate is critical as it effects everyone in a sense. Things appear to be stabilizing a bit now and hopefully the Tennessee unemployment rate will drop to normal levels in the near future as Tennessee plays a big role in our nation's economy. Of course, every state plays a vital role in the U.S. economy and we need them all firing on all cyllinders to pull ourselves out of this recession that we've been in.
