Overall unemployment rate moved down to 3.1% with the biggest shift in Restaurants & Hotels, which lost 900 roles, based on the most recently available information published in January 2022.
Total employment in the Chattanooga, TN-GA market declined by 3,438 jobs in November and the unemployment rate decreased compared to the prior month by 20 bps to 3.1%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Chattanooga, TN-GA unemployment rate is 26 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in November versus prior month by 1.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Transportation & Utilities: 56,600; +900
- Manufacturing: 37,400; no change
- Government: 37,300; no change
- Education & Healthcare: 34,100; -700
- Restaurants & Hotels: 30,200; -900
- Business Services: 27,800; +100
- Financial Services: 21,800; +100
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.