Overall unemployment rate moved down to 3.9% with the biggest shift in Restaurants & Hotels, which gained 2,900 roles, based on the most recently available information published in June 2021.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 5,482 jobs in May and the unemployment rate decreased compared to the prior month by 20 bps to 3.9%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 160 bps below the national rate which is a positive sign.
- Unemployment in the market is 620 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 7.1% 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: 204,700; +1,000
- Business Services: 178,000; +2,500
- Education & Healthcare: 153,300; -1,400
- Government: 120,800; -200
- Restaurants & Hotels: 102,300; +2,900
- Manufacturing: 81,700; +1,300
- Financial Services: 74,600; +2,100
- Construction, Mining: 49,900; +400
- Other Jobs: 40,600; -200
- IT & Development: 25,500; -100
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.