Overall unemployment rate moved down to 2.6% with the biggest shift in Transportation & Utilities, which lost 300 roles, based on the most recently available information published in June 2023.
Total employment in the Chattanooga, TN-GA market declined by 66 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 2.6%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Chattanooga, TN-GA unemployment rate is 50 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 2.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Transportation & Utilities: 53,900; -300
- Manufacturing: 39,600; +100
- Government: 37,700; -100
- Education & Healthcare: 36,700; +300
- Business Services: 31,800; +100
- Restaurants & Hotels: 29,400; +100
- Financial Services: 21,200; +100
- Construction, Mining: 13,200; no change
- Other Jobs: 12,700; no change
- IT & Development: 3,300; -100
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.