Overall unemployment rate moved up to 2.9% with the biggest shift in Transportation & Utilities, which lost 6,400 roles, based on the most recently available information published in March 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 8,138 jobs in January and the unemployment rate increased compared to the prior month by 20 bps to 2.9%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 153 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 10.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.0%. Key sectors include:
- Transportation & Utilities: 215,300; -6,400
- Business Services: 187,500; -4,100
- Education & Healthcare: 157,600; -3,000
- Government: 120,900; -1,300
- Restaurants & Hotels: 113,700; -3,900
- Manufacturing: 82,800; -300
- Financial Services: 74,400; -100
- Construction, Mining: 51,300; -2,400
- Other Jobs: 43,900; +300
- IT & Development: 27,300; -400
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.