Overall unemployment rate moved up to 3.4% with the biggest shift in Restaurants & Hotels, which gained 2,900 roles, based on the most recently available information published in August 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market declined by 1,998 jobs in June and the unemployment rate increased compared to the prior month by 60 bps to 3.4%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 44 bps below the national rate which is a positive sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 6.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 219,200; +2,600
- Business Services: 193,700; +900
- Education & Healthcare: 161,100; -2,100
- Restaurants & Hotels: 129,000; +2,900
- Government: 120,300; -2,000
- Manufacturing: 84,700; +800
- Financial Services: 77,700; +1,400
- Construction, Mining: 58,200; +2,500
- Other Jobs: 44,700; +300
- IT & Development: 27,800; +100
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.