Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which gained 1,200 roles, based on the most recently available information published in September 2022.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market declined by 269 jobs in August and the unemployment rate decreased compared to the prior month by 30 bps to 3.5%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 29 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 2.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.4% . Key sectors include:
- Transportation & Utilities: 24,200; no change
- Manufacturing: 20,700; +200
- Education & Healthcare: 17,800; no change
- Government: 15,200; +1,200
- Business Services: 13,800; no change
- Restaurants & Hotels: 13,300; +300
- Other Jobs: 5,700; no change
- Construction, Mining: 5,400; no change
- Financial Services: 3,800; no change
- IT & Development: 1,100; no change
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.