Overall unemployment rate moved up to 4.1% with the biggest shift in Government, which lost 1,400 roles, based on the most recently available information published in August 2022.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market declined by 1,893 jobs in June and the unemployment rate increased compared to the prior month by 70 bps to 4.1%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 26 bps above the national rate which is a negative sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 2.6% 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: 24,200; +200
- Manufacturing: 20,400; +100
- Education & Healthcare: 17,600; no change
- Government: 14,300; -1,400
- Business Services: 13,900; +200
- Restaurants & Hotels: 13,200; -300
- Other Jobs: 5,700; no change
- Construction, Mining: 5,400; -100
- Financial Services: 3,700; no change
- IT & Development: 1,100; no change
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.