Overall unemployment rate moved down to 2.4% with the biggest shift in Government, which gained 5,700 roles, based on the most recently available information published in November 2022.
Total employment in the Nashville-Davidson--Murfreesboro--Franklin, TN market rose by 2,252 jobs in September and the unemployment rate decreased compared to the prior month by 30 bps to 2.4%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Nashville-Davidson--Murfreesboro--Franklin, TN unemployment rate is 92 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 September versus prior month by 4.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 219,400; +2,500
- Business Services: 195,800; +100
- Education & Healthcare: 169,200; +4,400
- Restaurants & Hotels: 128,800; -200
- Government: 124,700; +5,700
- Manufacturing: 84,500; +600
- Financial Services: 76,500; -1,600
- Construction, Mining: 57,900; -100
- Other Jobs: 45,000; +800
- IT & Development: 27,500; -500
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.