Overall unemployment rate moved up to 3.7% with the biggest shift in Government, which lost 600 roles, based on the most recently available information published in March 2023.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market rose by 3,736 jobs in January and the unemployment rate increased compared to the prior month by 60 bps to 3.7%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 16 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 4.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.1%. Key sectors include:
- Transportation & Utilities: 24,600; -500
- Manufacturing: 21,100; -100
- Education & Healthcare: 17,500; -100
- Government: 15,400; -600
- Restaurants & Hotels: 13,800; +100
- Business Services: 13,600; -200
- 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 January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.