Overall unemployment rate moved down to 3.6% with the biggest shift in Government, which gained 300 roles, based on the most recently available information published in April 2023.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market rose by 1,280 jobs in February and the unemployment rate decreased compared to the prior month by 10 bps to 3.6%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 29 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 25,100; +100
- Manufacturing: 21,100; no change
- Education & Healthcare: 17,600; +100
- Government: 15,900; +300
- Restaurants & Hotels: 14,100; +300
- Business Services: 13,800; +100
- Construction, Mining: 6,100; no change
- Other Jobs: 5,600; no change
- Financial Services: 3,900; no change
- IT & Development: 1,400; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.