Overall unemployment rate moved down to 3.8% with the biggest shift in Restaurants & Hotels, which lost 700 roles, based on the most recently available information published in August 2022.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market declined by 558 jobs in July and the unemployment rate decreased compared to the prior month by 40 bps to 3.8%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 2 bps above the national rate which is a negative sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 6.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 24,300; no change
- Manufacturing: 20,400; no change
- Education & Healthcare: 17,900; +300
- Government: 14,100; -200
- Business Services: 13,800; no change
- Restaurants & Hotels: 12,300; -700
- 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 July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.