Overall unemployment rate moved down to 2.7% with the biggest shift in Business Services, which gained 2,900 roles, based on the most recently available information published in April 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 16,466 jobs in February and the unemployment rate decreased compared to the prior month by 20 bps to 2.7%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 144 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 6.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.2% . Key sectors include:
- Transportation & Utilities: 217,500; +700
- Business Services: 190,200; +2,900
- Education & Healthcare: 159,200; +1,400
- Government: 122,700; +1,600
- Restaurants & Hotels: 116,000; +2,800
- Manufacturing: 84,200; +1,100
- Financial Services: 74,800; +200
- Construction, Mining: 52,900; +1,500
- Other Jobs: 44,000; +200
- IT & Development: 27,800; +400
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.