Overall unemployment rate moved up to 3.3% with the biggest shift in Education & Healthcare, which gained 1,000 roles, based on the most recently available information published in December 2022.
Total employment in the Chattanooga, TN-GA market declined by 742 jobs in October and the unemployment rate increased compared to the prior month by 50 bps to 3.3%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Chattanooga, TN-GA unemployment rate is 10 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 October versus prior month by 1.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Transportation & Utilities: 55,700; +400
- Manufacturing: 37,400; +100
- Government: 37,300; +200
- Education & Healthcare: 35,200; +1,000
- Restaurants & Hotels: 31,200; +500
- Business Services: 27,600; +100
- Financial Services: 21,700; no change
- Other Jobs: 13,000; +100
- Construction, Mining: 12,400; no change
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.