Overall unemployment rate moved down to 3.0% with the biggest shift in Restaurants & Hotels, which gained 500 roles, based on the most recently available information published in May 2023.
Total employment in the Chattanooga, TN-GA market rose by 2,272 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 3.0%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Chattanooga, TN-GA unemployment rate is 62 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 54,200; no change
- Manufacturing: 39,500; no change
- Government: 37,900; +100
- Education & Healthcare: 36,400; no change
- Business Services: 31,700; +400
- Restaurants & Hotels: 29,000; +500
- Financial Services: 21,100; +100
- Construction, Mining: 13,300; +200
- Other Jobs: 12,700; +100
- IT & Development: 3,400; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.