Nashville, Tennessee – Tennessee’s statewide unemployment rate fell for the second consecutive month in March, according to new data from the Tennessee Department of Labor and Workforce Development. The seasonally adjusted interest rate for the month was 3.2%, down 0.1 percentage points from February’s 3.3%.
Tennessee’s all-time low unemployment rate was 3.1%, which the state recorded for a three-month period in 2023.
Between February and March, 10,600 non-agricultural workers took on new jobs across the state. Most of these new jobs were created in the leisure and hospitality sector, followed by the education and health services sector, and the manufacturing sector.
On a year-over-year basis, Tennessee’s latest unemployment rate of 3.2% reflects the state’s unemployment rate from March 2023.
Tennessee employers added 16,700 nonfarm jobs to the state’s workforce during the year. Over the past 12 months, the largest increases in new jobs were in education and health services. The leisure and hospitality industry had the next largest increase in employment, followed by other service industries.
A complete analysis of March 2024 unemployment data can be found here.
In the United States, the seasonally adjusted unemployment rate fell by 0.1 percentage point from 3.9% to 3.8% in March.
As school districts across the state approach the end of the school year, TDLWD is encouraging employers to participate in the Tennessee Youth Employment Program (YEP). Participating employers can support young people aged 14 to 24 in their career exploration.
Employers have the opportunity to strengthen their workforce without paying wages or administrative costs, while young people gain work experience. More information on becoming a participating employer can be found here.
