Overall unemployment rate moved down to 5.6% with the biggest shift in Restaurants & Hotels, which lost 800 roles, based on the most recently available information published in March 2021.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market declined by 1,975 jobs in January and the unemployment rate decreased compared to the prior month by 50 bps to 5.6%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 121 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 5.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.1%. Key sectors include:
- Transportation & Utilities: 23,100; -700
- Manufacturing: 19,900; -300
- Education & Healthcare: 17,000; -100
- Government: 15,400; -200
- Business Services: 13,600; -300
- Restaurants & Hotels: 10,800; -800
- Other Jobs: 5,400; no change
- Construction, Mining: 5,200; -200
- Financial Services: 3,600; no change
- IT & Development: 1,100; +100
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.