Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which gained 8,200 roles, based on the most recently available information published in September 2021.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market declined by 7,877 jobs in August and the unemployment rate decreased compared to the prior month by 20 bps to 3.5%. The national unemployment rate decreased by 38 bps over the same time to 5.3%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 179 bps below the national rate which is a positive sign.
- Unemployment in the market is 400 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 7.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Transportation & Utilities: 206,900; -700
- Business Services: 183,400; +900
- Education & Healthcare: 153,600; +1,300
- Government: 116,900; +8,200
- Restaurants & Hotels: 107,600; -1,300
- Manufacturing: 81,600; +200
- Financial Services: 74,900; +400
- Construction, Mining: 49,700; -300
- Other Jobs: 41,200; -800
- IT & Development: 25,500; +200
Data is based on the most recent 12 months available, through August 2021 (Data published September 2021 and reports created on September 29, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.