Overall unemployment rate moved down to 4.7% with the biggest shift in Transportation & Utilities, which lost 1,500 roles, based on the most recently available information published in March 2021.
Total employment in the Chattanooga, TN-GA market declined by 10,251 jobs in January and the unemployment rate decreased compared to the prior month by 70 bps to 4.7%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Chattanooga, TN-GA unemployment rate is 211 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) declined in January versus prior month by -1.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.6%. Key sectors include:
- Transportation & Utilities: 53,000; -1,500
- Government: 35,600; -900
- Education & Healthcare: 35,200; +600
- Manufacturing: 33,800; -100
- Business Services: 27,200; -900
- Restaurants & Hotels: 23,600; -1,200
- Financial Services: 22,400; +100
- Other Jobs: 11,800; -100
- Construction, Mining: 11,100; -200
- IT & Development: 2,400; no change
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.