Overall unemployment rate moved up to 3.4% with the biggest shift in Restaurants & Hotels, which gained 500 roles, based on the most recently available information published in June 2022.
Total employment in the Kingsport-Bristol-Bristol, TN-VA market declined by 37 jobs in May and the unemployment rate increased compared to the prior month by 40 bps to 3.4%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Kingsport-Bristol-Bristol, TN-VA unemployment rate is 2 bps above the national rate which is a negative sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 1.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Transportation & Utilities: 23,700; no change
- Manufacturing: 20,200; -100
- Education & Healthcare: 17,600; no change
- Government: 15,800; +100
- Business Services: 13,800; no change
- Restaurants & Hotels: 13,500; +500
- Other Jobs: 5,700; +100
- Construction, Mining: 5,500; +100
- Financial Services: 3,700; no change
- IT & Development: 1,100; no change
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.