Overall unemployment rate moved down to 2.4% with the biggest shift in Construction, Mining, which gained 2,000 roles, based on the most recently available information published in April 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 4,176 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 2.4%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 135 bps below the national rate which is a positive sign.
- Unemployment in the market is 180 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 217,900; +200
- Business Services: 190,800; +700
- Education & Healthcare: 160,300; +1,300
- Government: 123,000; +200
- Restaurants & Hotels: 116,600; +200
- Manufacturing: 83,700; -200
- Financial Services: 75,700; +400
- Construction, Mining: 55,200; +2,000
- Other Jobs: 44,600; +100
- IT & Development: 27,800; +300
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.