Overall unemployment rate moved down to 3.3% with the biggest shift in Restaurants & Hotels, which gained 700 roles, based on the most recently available information published in May 2023.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market rose by 634 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 3.3%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 32 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 3.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 24,400; -500
- Manufacturing: 20,900; -200
- Education & Healthcare: 17,400; -100
- Government: 16,200; +300
- Restaurants & Hotels: 14,600; +700
- Business Services: 13,800; no change
- Construction, Mining: 6,200; +100
- Other Jobs: 5,700; +100
- Financial Services: 3,900; no change
- IT & Development: 1,400; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.