Overall unemployment rate moved down to 2.1% with the biggest shift in Education & Healthcare, which gained 1,200 roles, based on the most recently available information published in June 2023.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 2,832 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 2.1%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 100 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 3.2% 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: 224,900; -800
- Business Services: 202,600; +300
- Education & Healthcare: 170,700; +1,200
- Restaurants & Hotels: 128,300; +1,000
- Government: 126,500; +1,000
- Manufacturing: 88,500; +300
- Financial Services: 76,200; +1,000
- Construction, Mining: 59,900; +500
- Other Jobs: 47,200; +100
- IT & Development: 31,900; -800
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.