Overall unemployment rate moved down to 3.1% with the biggest shift in Government, which lost 9,900 roles, based on the most recently available information published in August 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market declined by 8,852 jobs in July and the unemployment rate decreased compared to the prior month by 30 bps to 3.1%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 68 bps below the national rate which is a positive sign.
- Unemployment in the market is 70 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 5.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.7%. Key sectors include:
- Transportation & Utilities: 218,800; no change
- Business Services: 195,000; +1,500
- Education & Healthcare: 162,200; +800
- Restaurants & Hotels: 131,000; +900
- Government: 110,200; -9,900
- Manufacturing: 84,200; -300
- Financial Services: 76,900; +100
- Construction, Mining: 57,300; -800
- Other Jobs: 44,400; -600
- IT & Development: 28,000; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.