Overall unemployment rate moved up to 2.7% with the biggest shift in Transportation & Utilities, which gained 2,300 roles, based on the most recently available information published in February 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 10,782 jobs in December and the unemployment rate increased compared to the prior month by 10 bps to 2.7%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 99 bps below the national rate which is a positive sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 7.8% and are equal 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: 217,600; +2,300
- Business Services: 187,900; +1,700
- Education & Healthcare: 157,300; +800
- Government: 122,000; +100
- Restaurants & Hotels: 111,000; +2,200
- Manufacturing: 83,900; +1,500
- Financial Services: 76,500; +200
- Construction, Mining: 49,600; +500
- Other Jobs: 41,500; +100
- IT & Development: 26,400; -500
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.